Sun | Dec 15, 2019

LASCO won’t throw out tenants, says Chin

Published:Wednesday | November 13, 2019 | 12:50 AM

Chairman of the LASCO Group of Companies, Lascelles Chin, has sought to assure business owners at the White Marl Small Industrial Complex that their operations will not be disrupted if his company is successful in acquiring the facility.

Last week, business operators expressed concern that the divestment of the property owned by the Factories Corporation of Jamaica (FCJ) would force them to relocate or shut down their business.

“We thought to offer the bid as the facilities are in proximity to our existing offices, warehouse and manufacturing plants in White Marl,” Chin said in a statement yesterday.

“If we are successful, we already have drafted plans to improve the infrastructure and the surrounding land. We hope to be able to offer the existing tenants, including ourselves, the added value of such development,” the business mogul said.

Chin also said that he would honour the existing lease agreements.

“Per the clearly stipulated conditions of the bid outlined by the FCJ, on behalf of the Government of Jamaica (GOJ), if we are successful, we will not be terminating any of the existing leases,” he said.

He added: “As a small business owner, I started my business in the half-side of a house [with] £1,750 in 1983. In other words, I know the harsh realities of small-scale manufacturing. Facilities such as those provided by the FCJ are essential to the support of businesses and the growth of the economy.”

Last year, Cabinet approved the divestment of 15 per cent of the FCJ’s assets, which include the White Marl Small Industrial Complex.