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Frederick voices concern over new business investment agreement

By SNO Staff

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Richard Frederick

Richard Frederick

Former government minister Richard Frederick is questioning whether the current administration had given any proper consideration to the conditions set out in a contract with Desert Star Holdings (DSH) before signing.

During his weekly television programme on MBC ‘Can I Help You’ aired on Thursday, Fredrick blasted the government stating that the signing may have been rushed as there are clear red flags within the said agreement.

The US$2.6 billion agreement was signed between the government and DHS on July 29, 2016.

Referring to a specific clause in the contract that deals with confidentiality and announcements, Frederick said it states that “each party has agreed to keep secret,” and cannot disclose any information regarding the project, negotiations and information concerning the agreement to any third party.

The former housing minister said: “You are singing a document that says you have to keep it secret? And this is the business of the country? What happens to transparency and accountability?”

Frederick, an attorney by profession, believes that the prime minister should not have agreed to these conditions because it should have been made a public document and held to public scrutiny.

He also raised concerns about other parts of the alleged agreement, which states that if a certain amount of investors are not attracted to the project, the government will be responsible for purchasing back the investment.

“If within the first 24 hours of the launch, fewer than 200 investors have invested in the project and the government has implemented everything it could have done, the master developer may terminate the agreement and give the government notice and require the government to purchase all or any part of the land. The provisions of this agreement shall terminate immediately upon the government receiving the buyback notice.”

The opposition Saint Lucia Labour Party had raised several concerns about the project stating that there were outstanding issues to be addressed hence why the previous government did not go ahead with the deal.

But only this week the current administration sought to provide some clarifications with regards to the agreement.

Investment Minister Bradley Felix told a media conference on Monday (Aug.8) that while his government welcomes questions and scrutiny, the agreement was signed with due consideration.

While explaining that most of the negotiations were done by the previous administration, the minister said that two doubtful clauses have recently been negotiated out of the final agreement.

“Nothing in the agreement purports to guarantee the investor any licenses, approvals or other concessions without due process. Indeed, every undertaking in the agreement is limited to the requirements of the relevant legislation,” he explained.

Felix said the swift conclusion of the agreement asserts heavily on the seizing of opportunities and making of quick but informed decisions, without compromising ‘probity and good governance.”

(21)(112)
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31 comments

  1. We are quick to respond to anything that make the news but fail to ask ourselves (at least) before we make comment.

    1. Did Mr. Frederick ever had a copy of that agreement? How did he get it?
    2. Was it a copy of the old agreement with the previous administration given to him by the SLP? That clause quoted look like something .... would do like he did with Grynsberg.

    Before Mr. Frederick make us into fools let us give the newly elected government the benefit of a doubt. Let us wait. The project is far from starting.

    (11)(11)
  2. Mr Greedy joe realizing that this thing passing far from his mouth so he trying to create confusion. But Fredrick why is you and not the labour party addressing the Saint Lucian public on this issue. Isnt the labour party in a better position to address this than you opening your big mouth? How many time Ti Chas has to shame you to make you realize that you are irrelevant in this country? You will be made a fool once again mr greedy joe. Just wiat for it. While you at it make peace with JJ.

    (18)(17)
  3. On what u said we need to stop chasing money and think of the future we can't eat money neither buildings we need need food agricultural life and security for the people and when I say people I mean all including the tourist .we dont need a concrete jungle we need nature ,we follow everyone else ideas we need to build our own trends why go dig under the pitons for the volcano is alive we want to chase money and the people not getting 1 dollar from this

    (4)(2)
  4. Calm your heads.

    (1)(2)
  5. From what we are learning now the real reason this deal was not inked in the SLP administration is that they as usual kept everything close to the chest of the SLP elite who we all know have their own agenda.
    The same reason why Grynsburg and Frenwell were a catastrophe and why St Lucians knew nothing about Juffali. Because the SLP elite told no one anything because they were busy seeing what was in it for them and their cronies.
    I have heard these endless stories of investments lost to St Lucia because they were kept in secret by the SLP top echelon and made the investors turn away.
    These people were dangerous to st lucia and we know why invstments never come during the slp administrations.

    (12)(7)
  6. Dies not even know or is not saying how or why he lost his own US VISA and he wants to talk?
    Keep quiet Richard

    (13)(4)
  7. All of a sudden Richard Frederick has the the country at heart what happen to the time when he was a Minister for 5 years nothing substantial happened only serenity park and a few booths along the city so he can have a free shot of whisky when he passes through....Richard shut up and go back to your chemistry

    (16)(4)
  8. Let's all hope that this project does not get off the ground. It looks like the agreement was signed in haste and the terms are not good. Anything done in secrecy like this is not a good idea. There are obviously things to hide from the people that this project will impact long term.

    Smart, well thought out development projects are needed but projects that are built on gambling, foreign countries that have questionable motives, and investment secrets, should be weeded out. Gambling and horse racing is not the future for any good country. We instead need to be looking at sustainable Ecco tourism (like Costa Rica has done), manufacturing and agriculture, and business development where we can tap into the wealth of resources that are found on the island. Gambling is not a resource. It's a pathway into corruption, exploitation, and decline.

    (15)(5)
  9. Who cares who bring this project to Saint Lucia. Hey, Richard and his new found SLP friends can talk a storm if they want, what the people care about is jobs- providing Chas does not not Fork- it up

    (12)(6)
  10. Money is our slave chain, I don't trust the Chinese, they won't play fair. These people are extremely greedy and highly motivated to always rip somebody off. They have ruined China and now they are set to do the same to the rest of the world. They never pay taxes and always want the other party to bank roll their investments. I say money first then we do business.

    (6)(8)
  11. ANYTHING they are hiding from the public means that Saint Lucians are going to be shafted left, right and centre. Those people who sign that kind of deal are not working in the public interest. Secrets are for company to company deals.

    If government is surrendering and obfuscating any part of that deal we know it is something like the airline deal signed by the same careless actor. Last time AA was being paid to freight refrigerated air and empty seats to Saint Lucia for hidden fee. imagine a government of supposedly intelligent people accepting such a very crooked deal. They said that this was done on behalf of Saint Lucians. Really?

    (5)(0)
  12. After reading all the armchair politicians comments, I do not think that the PM would sign such an important document Willy-nilly without first reading it, scrutinizing it, discussing it and consulting on it. I do not think he is that daft. Mr Frederick is a trained lawyer and politician, with deft tricks at spreading negative propaganda - and you all eat it up, without question, without research.

    (20)(13)
  13. Alexander Barley

    The Chinese are bringing Genghis Khan Army Tactics. What do you think 2000 horses in St Lucia will be used for? Rise up St Lucians and leave this island for St Lucians. These little so called politicians are running around with these great IDEAS. Really: get your head out of your ass and make sense of what is unfolding before your eyes people.

    (6)(18)
  14. How can we ever get anywhere our new government it trying to help us but people so quick to try to bring the bad before the good how can some people sleep at nights they want everything for them..... if u see a problem why don't u educate or find sollotions to improve ..stop criticizing u had your chance how many people got jobs from your housing? If not your assocites friends and family .....choops

    (1)(9)
  15. This vulgarian called Richard Fredericks for ten years sat as the MP for Central Castries and only managed to create confusion and a low quality of life for that area. Just like the SLP.

    Poverty in the area increased during the period.
    As a Minister he was useless being given a critical Ministry for which he proved useless.
    People like him and the SLP have only created confusion while they benefit from the confusion.
    In government they mismanage, out of govt they cause confusion.
    Yet his supporters are caught up in his raucus crude presentations in the media.
    Well let him continue as he has another 14 years and 10 months to make noise! Lol!

    (4)(7)
  16. Fredrick should realize the Election is over. He will never forgive Chastanet for
    being kicked out of the Party. If one wants to find fault, just give a Lawyer a bunch
    of papers to play with, and look out. Fredrick is a failed politician, he has lost it long
    time ago and refuses to let go. Freddy boy, I didn't hear complain when the St. Jude
    Hospital project took so long and is still in a state of Limbo. Where were you???

    (6)(7)
  17. WITH RECKLESS AND IMPULSIVE .....AT THE HELM ANYTHING COULD HAPPEN TO ST. LUCIA. I WONDER WHY WHEN IN OPPOSITION HE CRITICISE THE GOVERNMENT FOR THE, IN HIS VIEW, LOW RATED RECOGNITION BESTOWED ON DARREN SAMMY AFTER WINNING England IN T20 COMPETITION AND NOW IS MUTED ON THE UNCEREMONIOUS WAY HE HAS BEEN DUMPED B WICB. WHY IS HE ALLOWING RALPY TO DO HIS WORK FOR HIM OR IS IT JUST A REFLECTION OF HIS INDEQUACY?

    (22)(12)
  18. REALLY all why is it that all the persons who use to get buttered crying about projects they could never bring to St Lucia. Apart from spending money what has Fredrick really done to put money into our country

    (11)(29)
  19. Yea St lucians take it easy ,you hungry you get feed you complain you get nothing you still complain, take care you all die in the wilderness. You all complain to fast, am not saying you should settle for anything, but let everything take it's course. I remember when SIr John wanted to implement a social security plan for farmers alot of people cry and complain never let the process take his dew course up to this day they regret. So take it easy everything will take it's dew course.

    (10)(24)
  20. That thing will backfire on us.As i see it the investors have a win win situation and we have the shitty end of the stick. I agree with Richards the documents speaks for itself.P.M please revisit that.

    (50)(10)
  21. The concerns of a Richard Piece of Crap Frederick is of no importance. We have just come out of a lost decade. Two separate administrations in the last ten years with no real development occuring. No projects which really move the needle, whether public or private. What we have here is a real project which can propel an entire part of the island. What we need here is for all parties involved to come together...thats the opposition. Richard is not involved. He will not be involved in anything of substance in St. Lucia again. He needs to fly to the states or something.

    (18)(62)
    • CLEAR ANALYTICAL

      go take your medication and stay at latock. this is dangerous grounds we as a nation treading upon. need answers fast before it's 2 late.

      (2)(1)
  22. Are Chinese brighter than Lucians?

    (14)(2)
  23. This is the worst thing that will happen to St Lucia. This Alan Chastanet administration is prostituting poor St Lucia to the Chinese. The Chinese will use us, dump us and we will be worst off than we started. St Lucians need to open their eyes and think for themselves. We keep talking about work, work, work, but ask the St Lucians working for Chinese in St Lucia how much they getting paid and what positions they hold in those companies. This has nothing to do with SLP or UWP, this has to do with St Lucians. Many persons will dislike this post because they are colour blind. Please do not let this project get off the ground because we will pay dearly for it.

    (54)(41)
  24. I thought now PM Chastnet and Juck Bois was against Citizen by investment teling the people that our country was not for sale. Now only a few months in office he run and sign a deal without consultation with the public. Again that's a clear sign of a desperate man. He had nothing to prove but a bunch of lies and empty promises which he but some of us with. Not me though.

    (55)(19)
  25. Stop the project before it begins. We do not need another Blackbay . SELL-OUTS. All those knuckle head politicians are the same, regardless of party, ruling or opposing. Slavery all over again. Why can't we find ways to help ourselves ?

    (55)(12)
    • in the last days perilous times shall come . I have never and will never place my trust in any Politicians .The voters get what they voted for .Transparency and letting the public know every Government decision that will affect them .

      (4)(0)
  26. They say Kenny was bad they blame him not handling the impac report but they police will soon realize what Kenny was trying to do saving them ppl we pray for this new government but if these stuff are true I know he trying to help lucia but who ever is his advisor thy need to chill and advise the man well

    (52)(33)

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