Business in brief: Scotiabank raises $15,000 for Special Needs Foundation

Scotiabank’s Carlene Lyn presents a check to Susie Bodden, executive leader at the Special Needs Foundation of Cayman. The Scotiabank Charity Golf Tournament in March raised $15,000 for the nonprofit organization.

Scotiabank recently presented a $15,000 check to the Special Needs Foundation of Cayman. The money was raised at the seventh annual Scotiabank Charity Golf Tournament in March. The tournament at the North Sound Golf Club hosted 27 teams and was supported by many local businesses, including Appleby, Cayman First, A. L. Thompson’s, Kirk Market, Silver Wheaton and Sol Petroleum.

Next year the event will be held on April 20.

Ritz-Carlton Golf Club named Golf Property of the Year

Golf operator Marriott Golf named The Ritz-Carlton Golf Club, Grand Cayman, Golf Property of the Year for golf excellence across the company’s portfolio of properties.

Marriott Golf manages 55 courses in 15 countries on five continents.

The Ritz-Carlton golf course not only exceeds customer expectations, but also maintains exceptional retail presentation and revenue per round, Marriott Golf said. In addition, “The property displayed an unmatched commitment to philanthropy, backed by its golf charity event which generated more than $70,000 during the 5th Annual Ritz-Carlton Invitational.”

The proceeds benefited The Cayman Islands Crisis Centre, Meals on Wheels of the Cayman Islands, Save Our Youth and The Ritz-Carlton, Grand Cayman Scholarship Fund.

This year’s event is scheduled to be held on May 26.

Some of the many award criteria for Golf Property of the Year include performance excellence for current and previous years in various categories, including golf sales, round improvements, turf grass conditions, innovative program development, customer satisfaction and personnel training and leadership.

“The Ritz-Carlton Golf Club, Grand Cayman is a Caribbean gem and the entire golf staff is truly deserving of this recognition,” said Claye Atcheson, vice president, Marriott Golf. “From delivering dynamic golf programming, to sustaining a turf maintenance program to supporting philanthropic initiatives, their commitment to always exceed expectations is inspiring.”

Intertrust clients donate $163,981 to Cancer Society

Intertrust Cayman, on behalf of its clients, delivered a check for US$163,981 to the Cayman Islands Cancer Society. The donation will go toward fundraising efforts to buy a new mammogram machine for the Cayman Islands Hospital.

The new mammogram machine will replace equipment which has been used for around 15,000 mammograms since it at arrived at the hospital more than 10 years ago.

“On behalf of the Cayman community, I would like to thank Intertrust for facilitating this generous donation from their clients, which will jumpstart our fundraising efforts to acquire a New Hologic Dimensions Breast Tomosynthesis System which will be able to detect breast cancer earlier, see lesions more clearly, reduce unnecessary biopsies and make these procedures more comfortable and tolerable for our patients,” said Dr. Sook Yin, advocate director of the Cayman Islands Cancer Society.

This system also has the capability of performing minimally invasive stereotactic breast biopsies with wire localization of suspicious lesions, she added.

“CICS will be partnering with the Breast Cancer Foundation to jointly fundraise for this initiative. This will allow us, with the help of everyone in our community, to get to our goal in record time to procure this system to help reduce the incidence of Breast Cancer in the Cayman Islands.”

DCI to close early on May 11

The Department of Commerce and Investment, including its Business Licensing Counter on the first floor of the Government Administration Building, will close at 3 p.m. on Thursday, May 11, for a staff meeting.

DCI’s main office will reopen on Friday, May 12, at 8:30 a.m., and the counter will reopen at 9 a.m.

Morgan Sharpe rebrands to Estera

Global fiduciary and administration services provider Estera completed the acquisition of Guernsey-based Morgan Sharpe Administration Ltd. following receipt of regulatory approval.

The deal was completed on April 28 and will see Morgan Sharpe rebranded under the Estera name to become Estera Administration (Guernsey) Ltd.

Serena Tremlett and Mel Torode, directors of Estera in Guernsey, said in a press release, “We are proud of our heritage and the foundations we have built as Morgan Sharpe. In order to build on that success and move forward as a global business, it is important that we continue to grow and align ourselves with the Estera brand and values. The completion of this transaction marks an exciting new chapter for our team and clients, who will benefit from an even greater choice of service and jurisdictions as part of a global group.”

Estera CEO Farah Ballands formally welcomed the team at Morgan Sharpe to the Estera group, saying it brings “a wealth of experience in fund administration to our team, and we look forward to working with them to expand our presence in Guernsey, an important market and jurisdiction for the Estera group.”

Estera provides fiduciary and administration services in 10 locations.

Annual economic survey ends Friday

Businesses and nonprofit organizations have until the end of business on Friday, May 12, to submit their completed annual business survey questionnaires to the Economics and Statistics Office. The annual Balance of Payment and System of National Accounts questionnaires were emailed, mailed or hand-delivered between March 27 and April 4.

The surveys cover organizations operating in the private and public sectors in the Cayman Islands, including wholesale and retail trade, accommodation services, restaurants, bars and nightclubs, insurance providers, banks, realtors and business service providers.

In a press release, ESO officials emphasized that the surveys are confidential in accordance with the Statistics Law, and will be used exclusively for statistical purposes. No individual information will be released to parties outside of ESO, and survey results will be presented in aggregate form. ESO survey data is exempt from Freedom of Information obligations.

In view of the wide use of the survey data, not only by local players but also by global investors, it is critical that the survey questionnaires be completed accurately and returned to ESO, the statistics office said. The data will be used to estimate the total value of goods and services produced by the different industries in the Cayman Islands, and to measure total payments to and receipts from the rest of the world.

Analysts and investors need such information to determine the economic viability of the Cayman Islands as a place to invest. The data is also used to monitor the economic health of specific sectors and their contribution to economic growth in the Cayman Islands.

Dart Real Estate receives Development Award

Dart Real Estate has been awarded the Development of the Year Award by The Caribbean Hotel & Resort Investment Summit for its new Kimpton Seafire Resort + Spa.

The award recognizes the most outstanding hospitality development built, redeveloped or repositioned within the past year, a press release states. Leaders from the hotel and lodging industry, investment community and key advisers reviewed all nominated properties, taking into consideration criteria such as pioneering, project magnitude, economic impact, sustainability initiatives, and innovative design.

The award also celebrates Dart Real Estate’s “commitment to creating spaces that promote people’s health, happiness and well-being in the Cayman Islands,” the press release states.

“Thoughtfulness, creativity and innovation are inherent to our philosophy of development excellence,” said Jackie Doak, president of Dart Real Estate. “In partnership with Dart Development, we collaborate with some of the world’s most forward-thinking architects, landscape architects and interior designers. Every decision was driven by how it would enhance the guest experience.”

Seafire is the result of a partnership between SB Architects and local architect John Doak. The property’s landscape architecture was developed by EDSA working with Dart Real Estate’s 20 year-old nursery. The interiors reflect the vision of Powerstrip Studio and the restaurant was created by MARKZEFF Design.

Among the criteria for the CHRIS Development of the Year Award is economic impact. Kimpton Seafire represented an investment of US$309 million during development and construction, employing more than 800 during peak activity. The hotel employs more than 360 people, with 35 percent of the staff being Caymanian or permanent residency holders.

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