National Enterprises Limited (NEL) is an investment holding company incorporated on August 27th 1999 by the Government of the Republic of Trinidad and Tobago as part of a re-organization exercise. It holds previously-owned Government shareholding in selected state enterprises as well as other dividend producing assets. NEL was listed on the Trinidad and Tobago Stock Exchange in 2001 to assist in the development of the capital market and to give shareholders ownership of a portfolio of mature and profitable companies.
No. A Unit Trust is an open-ended fund in which units are redeemed at Net Asset Value subject to a buy or offer price. NEL is a public company in which the shares are not redeemed by the company itself but traded on the stock market. Consequently, the values of NEL shares are determined by the market
As an investment holding company, NEL has no business operations of its own. An investment holding company earns income from the receipt of dividends, rents, or interests and does not produce goods or offer services itself. It acts as a holding company by owning shares of other companies.
NEL currently owns 51% of the shares of Telecommunications Services of Trinidad and Tobago Limited (TSTT), Trinidad Nitrogen Co. Limited (TRINGEN) and National Flour Mills Limited(NFM), 20% of the shares of NGC NGL Company Limited (NGC NGL), 37.84% in NGC Trinidad and Tobago LNG Limited (NGC LNG), 33.3% of Pan West Engineers and Constructors LLC and its wholly owned subsidiary, NEL Power Holdings Limited
The principal activities of the investee companies include:
National Flour Mills Limited(NFM) – Manufacturer of food and feed products;
Telecommunications Services of Trinidad and Tobago Limited (TSTT) – Provider of telecommunications services;
Trinidad Nitrogen Company Limited (TRINGEN) – Manufacturer of ammonia;
NGC NGL Company Limited (NGC NGL) – Holding company for 51% stake in Phoenix Park Gas Processors Limited, which is a gas processing company and manufacturer of petrochemical products;
NGC Trinidad and Tobago LNG Limited – Holding company for 10% stake in Atlantic LNG Company of Trinidad and Tobago which produces liquefied natural gas;
Pan West Engineers and Constructors LLC – Holding company for 10% stake in Phoenix Park Gas Processors Limited; and
NEL Power Holdings Limited – Holding company for 10% stake in the Power Generation Company of Trinidad and Tobago Limited.
National Enterprises Limited (NEL) uses the fair value method of accounting to assess the fair market valuations of NEL’s portfolio of investee companies. The fair market value is defined as the agreeable price which might reasonably be expected in a sale between a willing buyer and a willing seller, each of whom is deemed to be acting for self-interest and gain. Fair value accounting provides transparent insights into the performances and values of our portfolio of investee companies.