UTS reports 15 million guilder profit for 2010

POSTED: 06/17/11 2:20 PM

WILLEMSTAD\GREAT BAY – Curacao and St. Maarten have 15 million guilders in profits from UTS to share up. This was confirmed Thursday by Curacao’s Shareholder Representative and Vice Prime Minister Charles Cooper. Curacao claims 87 percent of the shares and states that St. Maarten owns the other 13 percent.

The profit for 2010 is consistent with the profit for 2009 when the company made 15.2 million guilders. The company has had mixed fortunes since 2003 when it had a loss of 4.4 million guilders. That loss grew to 33.1 million guilders in 2004 and hit a record low 0f 60.6 million in 2005. The company saw a resurgence in 2006 when the company made 22 million guilders in profit. That profit fell to 11.6 million in and 2007 and then to 8.2 million in 2008.

Cooper also announced Thursday that the Government of Curacao wants to acquire all the shares of UTS by buying out St. Maarten. Before that can happen the Liquidation Committee of the Netherlands Antilles must give a final asset sharing. After that Curacao can make good on St. Maarten’s desire to be paid in cash for its share of the dividends and also the shares in the company.


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