Business in brief

The Chamber Pension Plan has appointed Rhonda Anderson as a new member of its board of trustees. The board is made up of nine trustees who serve on a voluntary basis for three years and are active members in the business community covering a variety of industry sectors.

Mrs. Anderson is one of two trustees appointed by the Chamber of Commerce under the terms of the Trust Deed. She is the partner responsible for operations and finance for Zolfo Cooper in the Cayman Islands and British Virgin Islands, where her responsibilities include all financial reporting, operational policies and procedures, budgeting, human resources, and facilities.

“I am honored to be the Chamber of Commerce appointed trustee,” Mrs. Anderson said. “With my financial experience background, I feel I can positively contribute to the success of the Chamber Pension Plan.”

Mrs. Anderson has 19 years’ experience in the offshore financial services industry, including more than 15 years as a financial controller. She is a Certified Public Accountant, a Certified Fraud Examiner and a member of the Cayman Islands Society of Professional Accountants.

Board of Trustees Chairman Eduardo D’Angelo Silva said, “We are pleased to have someone like Mrs. Anderson who has a wealth of knowledge in the financial industry. We look forward to her expertise being an asset to our board of trustees.”

CIBC Walk for Cure boosts Cancer Society

Team members from CIBC FirstCaribbean collected US$17,855 by walking 5 kilometers from Public Beach to Havana Club and back again, where the 220 participants enjoyed a Caribbean breakfast and a free raffle. The money raised will benefit the Cayman Islands Cancer Society.

“Cancer is a disease which has touched just about everyone in our company and the Cayman community,” said Mark McIntyre, managing director of CIBC FirstCaribbean Bank (Cayman) Ltd. “Some of our own staff have themselves battled the disease. It is a cause which is very close to us all, and so we are proud to support the Cancer Society in the important work that it is doing through CIBC FirstCaribbean’s Walk for the Cure initiative.”

The effort formed part of the bank’s global Walk for the Cure fundraising in October, which aimed to have all of its employees walking at the same time, to raise money for cancer research. More than US$190,000 was collected in 2014, with events taking place across the Caribbean.

Mr. McIntyre and Walk for the Cure manager Shadden McLaughlin presented the check on behalf of the bank to Jennifer Weber, operations manager of the Cancer Society.

“The efforts of CIBC FirstCaribbean and their sponsors were extra special,” said Ms. Weber. “They wanted to go the extra mile, and thanks to their hard work and all their supporters, this one event has raised significant funds.

“The Cancer Society has seen the number of people who need our help increase by 10 times in the last four years. We receive no government funding, so we rely on the community’s support. We are working hard to help people in our community, and the need is great. Lucky for us, CIBC and their supporters are great too.”

Appleby advised on Suchuang Gas, KTL International IPOs

Offshore law firm Appleby earlier this month advised on two initial public offerings listed on the Hong Kong Stock Exchange. Appleby acted as Cayman counsel to Suchuang Gas Corp. Ltd. and KTL International Holdings Group Ltd. on their respective listings.

Suchuang Gas, a dominant piped natural gas operator in Taicang of Jiangsu Province, will use the HK$452 million net proceeds of the listing for the expansion of its pipeline network and for the acquisition and construction of refueling stations.

Hong Kong jewelry designer and exporter KTL International raised about HK$73 million. The majority of the proceeds are intended for the fitting out and decoration of a property in Guangzhou, China, and the purchasing of raw materials including diamonds.

KTL sells to wholesalers and retailers in Russia, the Americas and Europe.

In another transaction, Appleby acted as Cayman counsel for Times Property Holdings Ltd. on the issuance of US$280 million, 11.45 percent senior notes due in 2020. The company raised the money for existing and new property development projects and to refinance debt.


Jennifer Weber, center, of the Cayman Islands Cancer Society receives a donation from CIBC FirstCaribbean’s Shadden McLaughlin and Mark McIntyre.


Mrs. Anderson

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