Banana Enterprises Loses Major Money on Dredge
Zaid Flores
According to Flores, Banana Enterprises lost significant money on the deal since the dredge has failed to serve the purpose that it was initially purchased for.
Zaid Flores, Managing Director, Belize Enterprise Limited
“Well we’ve been doing dredging of our own for some time. We own our own dredge so, you know, it’s not a business that we’re not familiar with and they came in and they needed to do a channel and so they came to us and we provided some dredging services for them and then they wanted us to acquire another dredge which we did. Unfortunately it never served, it couldn’t do their job and the understanding or the agreement that we had is that it would be able to do their job and do ours. And so it failed for them and it can’t do ours either.”
Reporter
“We understand that you guys borrowed money to buy this second dredge.”
Zaid Flores
“I mean we had to borrow money for this, we’re talking about big monies here and interest is involved and so we’re also seeking interest on the unpaid balance.”
Reporter
“Sir, this must give you guys a very clear cause for closer inspection of business relationships you want to establish.”
Zaid Flores
“Well, I think, you know, you just have to be careful with, some companies appear to be very credible and this company, obviously, it took them three and a half years to admit that, accept liability, you know, and I think, I gathered from this evening before we wrapped up that by tomorrow we should be able to agree on the final balance because I think their accounting is obviously wrong, you know.”
Reporter
“One final question, did your company lose a lot of money because of this?”
Zaid Flores
“Yes sir, I mean we were depending on this dredge that we bought, that we bought from them and obviously since it failed we had no choice but to go outside and get one of the big companies to come in and finish up the work for us too. Had that sufficed them, that dredge, it would have been able to do our job and we would have saved a lot of money. It cost us a lot of money.”
