ANSA McAL

Last updated
ANSA McAL
AMCL
FormerlyAlston & Co. Limited
Company type Public
TTSE:  AMCL
Founded1881
Headquarters
Trinidad and Tobago

ANSA McALLimited is one of Trinidad and Tobago's largest conglomerates, with several diversified companies in the Caribbean, Europe and North America. It is traded on the Trinidad and Tobago Stock Exchange as AMCL.

Contents

Early history

In 1881, George R. Alston established Geo. R. Alston & Co, a company that specialized in buying and exporting of cocoa. In 1890, Alston left Trinidad and Tobago and initiated a partnership deal with McGregor Frame (Frame Alston & Co). [1] Frame Alston & Co then succeeded by Alston Arbuthnot & Co were the London agents of the Trinidad company until the death of Alston in 1918. [2] In 1904, a saw mill and a lumber and hardware store was launched. During that period, Alston & co. advertised its locations in the Port of Spain and was an agent for seven companies.

In 1914, the company Alston & co expanded its export and import business to also include ship chandlery, cargo handling and being an agent for steamships lines. [3] During that year, steamships were still using coal to power the ships, Geo. R. Alston & Co acquired the Trinidad Coaling Company and supplied coal to companies that owned steamships. [4] Alston & co between 1914 and 1920 handled exporting of cocoa and sugar from the Port of Spain.

In 1921, Geo. R. Alston & Co was incorporated as a Limited liability company (LLC) becoming Alston and Company Limited. Between 1926 and 1928 Roy Alston, Wilfred Alston and Gerald Wight were appointed Directors. Alston & Company by agreement in 1935 with C. Tennant Sons took over trading operations in San Fernando. [5]

On January 1, 1948, Alston & co-founded a sales agency department to give adequate facilities for the distribution of different manufactured goods produced by Alston & co-manufacturing subsidiaries. In that time Sir Erol dos Santos had just retired from colonial service of Trinidad and Tobago, and was invited to join the board of Alston & Co Limited. Erol Santos was at his time of service a financial secretary. In 1957, Alston & Co decided to withdraw from the wholesale provision business and to shut down then handover the electrical department to General Electric company. In 1959, ANSA Barbados was established. [6] Early 1963 Trinidad and Tobago Insurance Limited (TATIL) was established at the Port of Spain, handling fire, marine, motor and accident insurance. [7] Five years later several companies were merged to become Alston Marketing Co. Limited (AMCO). The McEnearney Business Machines Limited was formed from the business machine department of Charles McEnearney & Co. Limited in which in 1969 a four takeover bid ended in the merger of Alston and McEnearney. In 1971, the shipping and travel departments of which were the last remaining trading subsidiaries of Alston Limited were changed into a wholly owned Limited liability company, Alston Shipping and Travels Limited.

Tatil Building

The Tatil Building
ANSA McAL
General information
Address11 Maraval Road
Town or cityPort of Spain
Country Trinidad and Tobago
Coordinates 10°39′56.0″N61°31′09.5″W / 10.665556°N 61.519306°W / 10.665556; -61.519306
Opened1974
OwnerANSA McAL
Height45.25 metres (148.5 ft)
Technical details
Floor count12

In 1972, construction began on the landmark Tatil Building in Port of Spain, which was completed in 1974. Tatil Building rises 12 floors above ground and is 45.25 metres (148.5 ft) high. The building houses the Trinidad and Tobago Insurance Limited company. [8] [9] The total construction budget was TT$8.2 million. [10] The building is owned by ANSA McAL. [11]

Later history

In 1972, Alston & Co went ahead to acquire 66.9% of Trinidad's Publishing company, the publishers of Trinidad Guardian. In 1975, Conrad O'Brien was appointed Chairman of Charles McEnearney & Co. Ltd and the following year acquired shares of minority shareholders in the company. Charles McEnearney & Co. Ltd changed its name to McEnearney ALstons Ltd (McAL) which consummated the union of both groups. [12] [13]

After the merge, in 1977 McAL acquired controlling interest and shares in Penta Paints Caribbean Ltd and subsequently in 1978 acquired the entire shareholding of J.T. Allum's Supermarket. In 1980 the premises of the Trinidad Guardian were burnt down. [14] In 1984, Trinidad Guardian resumed operations. In 1986, Angostura Ltd and ABL bid against McAL almost four months after a similar but unsuccessful bid was made by Jessel Securities Ltd. Angostura made an initial offer of $40 Million to McAL and acquired majority of the shares thereby turning McAL to ANSA McAL. In 1987, Anthony Norman Sabga was appointed Chairman of ANSA McAL.

Classic Motors was formed in early 1992 to be a representative of Honda. That same year, ANSA McAL (US) Inc was founded as a US corporation in Miami serving as the company's worldwide procurement and logistics provider. [15] The Fleming ANSA Merchant bank was established in 1994. In 1998, ANSA McAL also bought the Trinidad Broadcasting Corporation.

Anthony Norman Sabga handed over chairmanship of the company to A. Norman Sabga. [16] In 2004, ANSA Finance and Merchant Bank bought TATIL and TATIL life from ANSA McAL for TT$667million and changed its name to ANSA Merchant Bank Ltd.

Related Research Articles

<span class="mw-page-title-main">BWIA West Indies Airways</span> Defunct national airline of Trinidad and Tobago (1939–2006)

BWIA West Indies Airways Limited, known locally as "Bee-Wee" and formerly as British West Indian Airways and BWIA International Airways, was the national airline based in Trinidad and Tobago. At the end of operations, BWIA was the largest airline operating out of the Caribbean, with direct service to the United States, Canada, and the United Kingdom. Its main base was Piarco International Airport (POS), Piarco, with major hubs at Grantley Adams International Airport (BGI) and Cheddi Jagan International Airport (GEO) during 2006. It was headquartered in the BWIA Administration Building in Piarco, Tunapuna–Piarco on the island of Trinidad. The company slogan was Sharing our warmth with the world.

<span class="mw-page-title-main">Chaguanas</span> Borough in Trinidad and Tobago

The Borough of Chaguanas is the largest municipality and fastest-growing town in Trinidad and Tobago. Located in west-central Trinidad, south of Port of Spain, north of Couva and San Fernando, and named after the indigenous tribe who originally settled there, it grew in size due to its proximity to the Woodford Lodge sugar refinery. It remained a minor town until the 1980s when it began to grow rapidly as it drew people for its bargain shopping and moderately priced housing. Its rapid growth has seen property values increase dramatically, however.

<span class="mw-page-title-main">Petrotrin</span> State-owned oil company in Trinidad and Tobago

Petroleum Company of Trinidad and Tobago Limited was a state-owned oil company in Trinidad and Tobago. Its principal activities were the exploration, development and production of hydrocarbons in addition to the manufacturing and marketing of petroleum products.

<span class="mw-page-title-main">Barbados Stock Exchange</span> Stock exchange located in Bridgetown, Barbados

The Barbados Stock Exchange or BSE is Barbados' main stock exchange. Its headquarters are in the capital-city Bridgetown. The body was established in 1987 by the Parliament of Barbados as the Securities Exchange of Barbados (SEB), and remained known as such until August 2, 2001. The unique four symbol alphanumeric Market Identifier Code (MIC) used to identify the BSE as defined under ISO 10383. of the International Organization for Standardization (ISO) is: XBAB.

CL Financial was the largest privately held conglomerate in Trinidad and Tobago and one of the largest privately held corporations in the entire Caribbean, before the company encountered a major liquidity crisis and subsequent bailout in 2009.

<span class="mw-page-title-main">CIBC Caribbean</span> Barbadian subsidiary of CIBC

CIBC Caribbean is a financial services company based in Barbados and the Caribbean subsidiary of the Canadian Imperial Bank of Commerce (CIBC). The bank was founded in 2002 as FirstCaribbean International Bank through the merger of the Caribbean operations of Barclays Bank and CIBC, and in March 2006 both CIBC and Barclays announced that Barclays wished to exercise their option to exit the Caribbean venture completely resulting in CIBC gaining majority-control of the bank. In June 2011, it was announced the bank would be renamed CIBC FirstCaribbean Bank "to be more closely aligned to the CIBC brand, while still maintaining the FirstCaribbean name and local identity." The name was then later changed CIBC Caribbean in January 2024. The majority of the bank's revenues are generated by its operations in Barbados, the Bahamas and the Cayman Islands.

<span class="mw-page-title-main">One Caribbean Media</span> Holding company in Trinidad and Tobago

One Caribbean Media Ltd (OCM) is a vertically integrated holding company based in Port of Spain, Trinidad and Tobago. The new company was founded in December 2005, following the merger of the Caribbean Communications Network (CCN) of Trinidad and Tobago, and the Nation Corporation of Barbados. The merger of the respective conglomerates was pursued after both companies held a sizable financial stake in each other for a number of years.

The Royal Bank of Trinidad and Tobago (RBTT) was a commercial bank based in Trinidad and Tobago and one of the largest commercial banking corporations in the Caribbean region. As of 2008 RBTT Holdings had a group asset base of over US$6.2 billion dollars. The RBTT group of companies operated several commercial banking businesses in other neighbouring islands, as well as various investment holdings in various parts of the Trinidad and Tobago economy. On 26 March 2008, RBTT Shareholders voted 98.18 percent in favour of selling the bank to the Royal Bank of Canada (RBC), who previously had divested the bank in 1987. On 16 June 2008, RBC completed the acquisition. RBTT Financial Holdings Limited and RBC Holdings Limited, a subsidiary of RBC, will amalgamate and continue as a wholly owned indirect subsidiary of RBC. The head office of the Caribbean operations for RBC will be located at Port of Spain, the capital of Trinidad and Tobago, and the site of RBTT's headquarters.

<span class="mw-page-title-main">Caribbean Communications Network</span>

The Caribbean Communications Network Ltd. (CCN) also known as the "CCN Group" Ltd., is a subsidiary of ONE Caribbean Media Limited. In December, 2005 both the Trinidad and Tobago–based Caribbean Communications Network (CCN) and the Barbados-based Nation Corporation entered into a merger agreement for formation of the new ONE Caribbean Media Limited company. Following the merger, Caribbean Communications Network Ltd. as the larger of two companies continued to hold the aegis of the new dynamic media conglomerate based in Independence Square of Port of Spain, in Trinidad and Tobago. Prior to merger, CCN was ranked as one of the top 50 largest Caribbean companies.

<span class="mw-page-title-main">Trinidad and Tobago Stock Exchange</span> Stock index of Trinidad and Tobago

The Trinidad and Tobago Stock Exchange (TTSE) is the main stock exchange in the Republic of Trinidad and Tobago, and the largest stock exchange in the Caribbean region by market capitalization. As a member-state of CARICOM several companies from Barbados, Jamaica, Saint Vincent and the Grenadines and the Eastern Caribbean Securities Exchange also cross-list their stocks onto the Trinidad and Tobago Stock Exchange. The unique four symbol alphanumeric Market Identifier Code (MIC) used to identify the TTSE as defined under ISO 10383. of the International Organization for Standardization (ISO) is: XTRN.

<span class="mw-page-title-main">Republic Bank</span> Caribbean bank and financial service provider

Republic Bank Limited is a Caribbean financial institution headquartered in Trinidad and Tobago. It has operations in Anguilla, Barbados, the British Virgin Islands, the Cayman Islands, Dominica, Ghana, Grenada, Guyana, St. Kitts and Nevis, Saint Lucia, St. Maarten, St. Vincent and the Grenadines, Suriname and Trinidad and Tobago. It was formerly a division of Barclays Bank in Trinidad and Tobago.

GraceKennedy Limited is one of the Caribbean's largest conglomerates, with several diversified companies in the Caribbean, Europe and North America.

<span class="mw-page-title-main">Barbados–Trinidad and Tobago relations</span> Bilateral relations

Barbados and Trinidad and Tobago formally established diplomatic relations on Barbados' national date of independence, 30 November 1966. Barbados maintains non-resident representation to Port of Spain, and the Republic of Trinidad and Tobago maintains non-resident representation to Bridgetown. Both countries are members of many shared organisations, including the Association of Caribbean States, the Commonwealth of Nations, CARICOM, CARIFORUM, and the Community of Latin American and Caribbean States.

<span class="mw-page-title-main">Anthony N Sabga Caribbean Awards for Excellence</span>

The Anthony N Sabga Caribbean Awards for Excellence were initiated by Anthony N. Sabga, one of the Caribbean's most celebrated entrepreneurs and founder and chairman emeritus of the ANSA McAL Group of Companies in the Republic of Trinidad and Tobago.

The Dr. João Havelange Centre of Excellence is a football academy and development suite in Macoya in Trinidad and Tobago. It is named after João Havelange, the former President of FIFA and the Brazilian Football Confederation.

<span class="mw-page-title-main">JTA Supermarkets</span> Chain of supermarkets in Trinidad and Tobago

JTA Supermarkets Limited is a chain of five supermarkets in Trinidad and Tobago.

<span class="mw-page-title-main">Gérard Besson</span> Trinidadian writer and publisher (1942–2023)

Gérard Anthony Besson HBM was a Trinidadian writer and publisher.

ANSA Merchant Bank Limited was founded in 1998 as ANSA Finance & Merchant Bank. It is a merchant bank located in Trinidad and Tobago. The bank provides services such as auto financing, asset finance, investment services and merchant banking. ANSA Merchant Bank is also a subsidiary of ANSA McAL group. On December 11, 2020, ANSA Merchant Bank Limited purchased the Trinidad and Tobago locations of the Indian Bank of Baroda. In April 2021 the Bank of Baroda branches were rebranded as Ansa Bank branches, Ansa Bank being the bank branch subsidiary of Ansa Merchant Bank. Other subsidiaries are Tatil and Tatil Life.

Liam Teague is a Trinidadian composer, arranger, and steelpan performer.

References

  1. Oil, Paint and Drug Reporter. 1903.
  2. Wright, Arnold (2004). Southern India: Its History, People, Commerce, and Industrial Resources. Asian Educational Services. ISBN   9788120613447.
  3. The Trinidad and Tobago Year Book. Franklin's Electric Printery. 1919.
  4. International Trade Developer: Propagador de Comercio Internacional. International trade developer. 1922.
  5. Miscellaneous series. 1914.
  6. Annual Report - Central Bank of Barbados. Central Bank of Barbados. 2007.
  7. Yawching, Donna (1991). Who's who and Handbook of Trinidad & Tobago. Inprint Caribbean. ISBN   9789766080389.
  8. "Ansa McAL donates $.8m to local charities". The Trinidad Guardian Newspaper. Archived from the original on 2018-06-22. Retrieved 2018-06-21.
  9. "ANSA Merchant profit flat at $314m". The Trinidad Guardian Newspaper. Archived from the original on 2018-06-22. Retrieved 2018-06-21.
  10. "About Us". Tatil. Retrieved 2018-06-21.
  11. "Tatil celebrates golden anniversary". The Trinidad Guardian Newspaper. Retrieved 2018-06-21.
  12. Who's who in Trinidad and Tobago. Carlton Comma. 1972.
  13. Ambursley, Fitzroy; Cohen, Robin (1983). Crisis in the Caribbean . Monthly Review Press. ISBN   9780853456308. Charles McEnearney .
  14. Lima, Arthur De (1981). The De Limas of Frederick Street. Inprint Caribbean.
  15. Who Owns Whom: North & South America. Dun & Bradstreet Limited. 2008.
  16. Brereton, Bridget; Raymond Ramcharitar (2015). A Will and a Way: The Autobiography of Anthony N. Sabga. Paria Publishing Company Limited. ISBN   9789768244185.