The secrecy behind the new hotel currently being built
between Fisherman`s Cove and Berjaya Beau Vallon bay is exceptional. Site
workers have confirmed the name of the hotel to be that of Belombre Hotel
although the company that is leasing plots V576, V577 and V10115 is a company
called Belombre Hotels Development Limited. The 3 plots total up to
approximately 72,000 square meters of prime land in the country. The company
signed a 99 year lease with the government on the 8th of April 2004
and was represented by Noelin Didon. As well as the upfront fee, the annual
rent to be paid is just a solitary 1 rupee per year; very good business for the
company and extremely generous by the government. Public records show that
Belombre Hotel Devopment Limited is owned by a company in the British Virgin
Island (BVI) named Hotel Properties Ltd. BVI registers
companies which do not have to disclose, on public record, their beneficial
owners.
It is also evident that Fisherman`s Cove Hotels Limited is
owned by a Seychelles company to the name of Hotel Properties Limited; who in
turn are owned by same Hotel Properties Limited in the BVI. In its published
account dated 31st December 2004, Meridien (Seychelles) Limited a Seychelles registered company owned by the
international hotel management company disclosed that it was renting the
Fisherman's Cove from Fisherman's Cove Hotel Limited for the annual sum of US$
2,262,000, under a 20 year non-cancellable lease; which means that the lucky
owners of Hotel Properties Limited in the BVI that also owns Belombre Hotel
Development Limited will earn a total of US$ 60,210,000 over twenty years. Not
at all a laughable sum. On top of that and according to the accounts of
Fisherman’s Cove Hotel Limited it has been granted exemption from payment of
Business Tax by the Ministry of Finance for a period of 20 years under the
Investment Promotion Act. The Minister of Finance at the time was the current
President James Michel.
The lucky and well hidden owners of Hotel Properties Limited
in the BVI are getting extremely rich at the expense of the Seychellois people.
The people of Seychelles must demand accountability from its Government on such
atrocious deals. It must be recalled that former President Albert Rene
published a document called “SPPF Policy Statement Onward to Socialism”. In it
he claimed that “In accordance with the overriding aims of Seychelles People's
Progressive Front, the tourist industry must result in economic benefits to all
and not simply to those who have sought to capitalise on the natural beauty of
the country”.
By A.Pierre
