KD ENTERPRIZE CONSULTANCY SERVICES

1. KDENTERPRIZE CONSULTANCY SERVICES

2. A PROFILE ON KD ENTERPRIZE CONSULTANCY SERVICES PEOPLE, PRODUCTS & SERVICES OFFERED ADDRESS: SHOP 8, AJ’s SUPERCENTRE COMPLEX, 32 BRUNSWICK STREET, SPANISH TOWN, ST.CATHERINE TELEPHONE: 509-7055 881-1922 984-9850 EMAIL: kadyr1@hotmail.com

3. A PRESENTATION TOTHE BOARD OF TRUSTEESOFXXX COMPANY

4. HOW CAN WE BE OF ASSISTANCE TO YOU & THE MEMBERS OF YOUR PENSION PLAN?

5. INTRODUCTION Pension Plan management is a very important and crucial matter, which in recent times, has been placed squarely on the front burners in Jamaica. The matter of pensions has become a very thorny issue and news of happenings over the past few years in France, Spain, Greece and other European countries serve to remind us of the importance of this subject matter.

6. In addition, several interesting cases have come to the fore in Jamaica since the past five or so years. The legal implications surrounding several areas of pension administration, including , have occupied the Supreme Court and have even made their way into the Courts of Appeal. the interpretation of various provisions in pension rules

7. Two cases come readily to mind, that of • AIR JAMAICA and the GILLETTE (CARIBBEAN) • cases. In the former case, the issue surrounds the entitlement to the remaining assets after thee winding up of a pension plan. When the Government of Jamaica sold its shares in the company, and the airline became totally privately owned in 1994, the pension plan was wound up.

8. After paying out all the financial obligations in accordance with the pension plan rules, a substantial amount of over $400 million was left. • The question, therefore, was to whom did the surplus belong?????? • To the former Plan members or to the Company? What about the Government? • Did the surplus belong to the Government??? • What do you think???

9. The former contributors argued for a return of their outstanding contributions based on the surplus, even though they had previously received their expected entitlement. • However, the Company wanted that money and quickly made amendments to the TRUST DEED and RULES. The former Plan members would have none of that and join a class action and challenged that decision in Court. • It was finally decided by the Court that, after all legal costs were deducted, both the company and former plan members should benefit, the company 50% and the other 50% to be allocated, pro rata, i.e. according to ratios in which they previously contributed. Let us see!!!!!

10. In the latter case, the Trustees brought an originating application to seek the guidance of the Courts as to the proper distribution of the remaining assets of the plan. • There were two (2) applicants, • who argued that the windfall accruing to the pension plan belonged only to them as the other members had taken all their contributions after they were made redundant. • VivionScully and Morven Richardson

11. The Supreme Court agreed, but afterwards that decision was appealed. The issue centred around whether members who had been terminated through restructuring or for other reasons were still entitled to share in any surplus remaining in a pension fund. • It was later decided that based on the provision in the • Trust Deed and Pension Rules • that those who had left their contributions should benefit but those who had withdrawn theirs were no longer entitled. Only the two (2) were, therefore, eligible and had a windfall of • $42 million. • Many recent developments coupled with the requirements enunciated in the Pensions Act, 2004 and Regulations, 2006 highlight the necessity for all Pension Plans to be managed in an effective and efficient manner.

12. This presentation is very important to Trustees to assist you in • understanding • role and your guide and will • responsibility you into making proper decisions regarding the operation of your company’s pension plan.

13. Board of Trustees • The Board of Trustees has total responsibility for a Pension Plan and must ensure that all aspects are properly managed. The Pensions Act, 2004 as well as the accompanying Pensions Regulations, 2006 hold Trustees accountable and imposed heavy penalties for breaches thereof. • This matter of pensions will become even more important in Jamaica. More law suits are been filed against Trustees and other stakeholders. • Trustees must therefore ensure that they are well informed and are provided with the best advice and assistance in managing their Pension Plans, in order to be compliant with all the requirements of the Regulations. • Trustees must meet regularly to review the operations of their Pension Plans and assure themselves of the soundness of such operations.

14. A Pension Plan can be complicated to manage. • Trustees therefore need to understand their role and responsibilities and make every effort to acquire the requisite knowledge to make a substantial input to the management of their Pension Plans. • Trustees need to understand that the dynamics within an organization, including the inevitable occurrence of staff charges or inadequate and inexperienced staff, can sometimes cause delay in decision making. • Trustees enter into a covenant relationship with the Plan sponsor and members to manage the Pension Plan in an appropriate manner and make certain deliverables.

15. It is therefore recommended that the Board of Trustees of a Pension Plan retains a Consultant to appropriately advise that body and other stakeholders on a continuous basis on a wide range of very important issues, to assist in ensuring that the Pension Plan is efficiently and effectively managed. WHAT DO WE DO TO HELP???? We assist Trustees in evaluating their own performance and guide them in becoming compliant with the Pensions Legislation as well as to ensure growth of their Pension Plans.

16. Administration • The Administrator is one of the most important stakeholders to a Pension Plan. Under the Pensions Legislation, the Administrator will have to be approved by the Financial Services Commission (FSC). Administrators must satisfy certain criteria and continue to maintain these in order to retain their approved status. • Not only must the Administrator be approved by the Financial ServicesCommission but Trustees must ensure that that body is monitored constantly and evaluated on a regular basis for optimum performance. The Administrator may even have to be changed to ensure efficiency.

17. HOW DO WE HELP IN THIS AREA OF MANAGEMENT?????? • This service that we offer is designed to provide continuity and assist Trustees to become compliant with the Pensions Regulations and ensure proactive actions for timely decision–making. • We develop and provide appropriate criteria for performance standards of the Administrator and follow through to evaluation and recommendations.

18. The writing of a SIPP to guide the Trustees in developing investment policies is critical. Statement of Investment Policies and Principles(SIPP) • The SIPP is a requirement of the Pensions Legislation detailed in the Pensions (Investment) Regulations, 2006 and cover areas such as asset mix, allowable and non-allowable assets, risk management and criteria for choosing Investment Managers, amongst many other provisions. • This Policy recognizes what is termed as the prudent investor’s guidelines, which requires funds’ fiduciaries to maintain overall portfolio risk at reasonable levels. • The SIPP must contain certain crucial information such as: a) Overview---which outlines the background, purpose, type, funding status and risk exposure b) Asset Management and Diversification Policy---which outlines assets under management, portfolio return expectations and asset management. c) Permitted and Prohibited Investments • d) Monitoring and Control------which describes performance measurement and compliance reporting by the Investment Manager. • e) Administration

19. HOW DO WE HELP IN THIS AREA?????? • We assist in drafting, proofreading and evaluating SIPPS. • We also develop criteria and assist in regularly evaluating the performance of the Investment Manager(s) and the reports that they submit on a quarterly, semi-annual or annual basis.

20. • In addition, Trustees must operate their Pension Plan according to the Trust Deed, Plan Rules and the Pensions Legislation. Trust Deed & Plan Rules WHAT SERVICE DO WE OFFER RELATING TO THESE VERY IMPORTANT DOCUMENTS????? a) We assist Trustees in evaluating and ensuring compliance and conformity. b) We also advise on the design, drafting and modification of these documents c) We prepare proposals to solicit tenders for actuarial funding (solvency) valuations and evaluate the responses received and offer necessary recommendations to Trustees. d) We also assist with preparation of annual Certified Financial Returns to the Financial Services Commission.

21. Communication with Plan members • This is a two-way operation. Trustees will have to ensure that they communicate constantly and accurately with Plan members and also receive feedback and respond in an effective manner, on a timely basis. • Trustees are reminded that Plan members can report them and other stakeholders such as the sponsor, Administrator and Investment Manager to the Financial Services Commission for breaches of the Pensions Regulations. • It is encumbent on Trustees to ensure that information is conveyed to Plan members on a timely basis through Newsletters, letters, memoranda, information leaflets, annual reports, meetings and seminars, members’ representation at Trustees’ meetings.

22. HOW DO WE ASSIST IN THIS ENDEAVOUR????? • We assist in the preparation and production of: Newsletters, Information leaflets, flyers and questionnaires, Annual Reports, as well as the: • timely and proper execution of members’ meetings, • development of a Pension Plan website.

23. Let us, therefore, be your eyes, ears, mouth and hands to help keep watch over your pension plan or scheme and to follow through with all necessary actions in order to ensure that all stakeholders are performing their roles and responsibilities at the highest level.

24. Financial Planning & Counselling Financial Planning is the process of organizing and managing one’s financial affairs to empower that person to realize the goals that he or she has set to be accomplished in his or her lifetime. Personal financial planning acts as a road map to navigate a person through life’s challenges in order to achieve the quality of life that a person desires during his or her lifetime. It clearly identifies his objectives. There are usually different goals to be achieved at the different stages in one’s life.

25. Financial Planning provides a means to measure one’s progress toward the achievement of the goals he or she has set and helps to determine whether those goals are realistic. • This process helps to determine the costs of those objectives. • It helps a person to keep focus and direction and to maintain financial balance. • Financial Planning requires that a person- • creates an Action Plan to meet his objectives, • knows his current personal and financial position in order to determine how he will achieve them, • decides whether he needs to make any changes to his life style, • knows his sources and amount of income, • identifies all items of expenditure, • as well as determines the timelines involved in fulfilling his goals.

26. Financial Planning includes a wide cross-section of activities and discipline. The following are the varied tenets of financial planning: • Budgeting • Cash flow management • Investment planning and management • Tax planning and management • Risk management • Retirement Planning • Estate Planning and management

27. HOW CAN WE HELP YOUR EMPLOYEES WITH THEIR FINANCIAL PLANNING AND MANAGEMENT IN ORDER TO ASSIST THEM IN ACHIEVING THEIR PERSONAL AND FINANCIAL GOALS,THAT WILL REDOUND TO THEIR BENEFIT AND THAT OF YOUR ORGANIZATON BY MAKING THEM MORE PRODUCTIVE AND CONTENTED????????? A company that is benevolent and who values the contribution of its employees will make every attempt to assist them in making adequate arrangement for the achievement of their personal goals.

28. We offer: • one-on-one financial counselling and planning, • advice on Cash Flow management and budgetting, to individuals whether self-employed or employed by an organization, specializing in those who need assistance in preparing for retirement or redundancy.

29. We organize and execute: • counselling sessions, • seminars and • workshops, especially for employees of small and medium-sized companies that do not operate a Pension Plan but wish to assist their employees on a one-on-one basis or in groups to make adequate arrangements for their future.

30. We will teach your staff: • The importance of managing their money, irrespective of its size, • The areas in which they can effect savings, • How to prepare a budget, • Tips on what to do when the Budget does not balance, • Tips on how to control spending, • Guidelines on when to borrow, • The tenets or legs of Personal Financial Planning, • The different stages and what to do during each stage of the life cycle, • Any other area in which you are interested.

31. WRITING & EDITING • This service that we provide includes the writing of books in draft, resumes, job application letters, and editing of same. • We make arrangement for cover designs of books in draft. • We design and develop job descriptions and lists of duties. • We write advertisements, tag lines and jingles. • We prepare information flyers, booklets and pamphlets for individuals and companies • We specialize in preparing and producing Newsletters of the highest quality and assist with the writing and selection of appropriate articles for their inclusion.

32. RESEARCH This service that we offer includes the research of theses, dissertations, essays, school based assessments (SBAs) and other research papers for students, other individuals and organizations. These are presented in submission-ready formats.

33. PREPARATION OF DOCUMENTS • We prepare documents such as wills and other related documents. • We prepare Financial Statements (Income & Expenditure Statements, Balance Sheets, Cash Flow Statements) for self-employed and other individuals as well as small businesses. We also discuss results and their implications and make business recommendations. • We arrange for preparation of various Annual Reports. • We prepare Business Plans and Proposals for submission to financial institutions such as banks, credit unions and other lending institutions is another service that we offer, as well as the evaluation of these documents. • We prepare submissions to Boards of Directors and Executive Management for individuals and companies. • We plan, develop and offer guidelines as to implementation of management, pension and procurement policies and practices.

34. The development, preparation and re-evaluation of performance standards for various categories of workers is another service that we provide. • We develop terms and conditions for different loan types and salary advances for the consideration of management. • Preparation of documents such as rules for registration of Cooperatives eg. Thrift Club Societies and information folders for companies is one of our special services • We design and assist with the implementation of different communication initiatives.

35. WELDING,GRILL AND METAL WORK Our Associate, Malachi Francis, also called Frank, has over forty years’ experience in designing and constructing the most beautiful grill and metalwork all over Jamaica. Take a drive any day through Cherry Gardens, Norbrook, Portmore, Mona, Ensom City, Mercury Gardens and many other communities in several parishes and you are bound to find many of his beautiful and artistic creations. Just select a design from those offered or tell Frank what you desire and he will craft it for you.

36. We offer: • Window grills • Door grills • Gates • Staircases, circular, spiral and straight • Balconies and alcoves • Wall grills and others too numerous to mention • Metal furniture • Repairs and ‘fantabulous’ reconstruction of old metal structures and motor vehicles. • See listing of photographs in our portfolio. Our service is of the highest standard at competitive rates delivered in a timely manner. • We are highly recommended by individuals and companies. See some of the testimonials attached.

37. TESTIMONIALS MY STEELWORK CONSULTANT—MALACHI FRANCIS I needed to have some grill work done on a flat that I was refurbishing for my newly-wed son and his wife and so begun the search for a good grillwork consultant. When MALACHI FRANCIS was introduced to me as that person, I decided (hesitantly) to put him to the test as I had never seen any work he had previously done. I had just finished spending quite a lot of money on improvement work, including widening the windows and so needed to spend as little as I could on grill work, a sentiment I shared with Malachi. He quickly worked out a plan to add to the pieces I had removed from the smaller windows, something I did not considered before. When the work was completed I could hardly recognize the patch work. I was so pleased with this first job that I have been using Malachi for all steel work that I have to do at home. I have recommended Malachi to several persons including my son who used him to design, build and install grill work for his recently constructed dream house. His work is neat, his designs modern, he cleans up after work, and he is reliable and delivers his work in a timely manner. Malachi is my steel work consultant who I would trade for no one else. Lorna Gooden (Mrs) Kingston 10

38. MALACHI FRANCIS-THE BEST When I decided to build our home and reflected on the various skills needed to create the perfect design, my mother urged me to consider Mr. MALACHI FRANCIS for the grill work, and although I sought quotes from several different contractors, my wife and I eventually choose him because not only was his price competitive but his choice of material was of superior quality. Mr. Francis decorated my windows, doors, rails, power gate, and exterior drain with beautifully crafted steel work. He completed the work on time and the pieces were very neat and sturdily attached. I have great confidence in Mr. Francis’ capabilities and would recommend him to anyone who is serious about receiving value for money. Steven Gooden, Norbrook, Kingston 8

39. RENTAL OF VACATION PROPERTY • Our rental property is located in the beautiful, recently developed Florence Hall Estate in Trelawny. Home of Usain Bolt, “the fastest man on earth”. • This lovely and peaceful, gated community is: • only 15 minutes away from Montego Bay, • with a breathtaking view of the Falmouth Pier. • You will be delighted with the sailing boats and cruise ships docking in the port. • Imagine the wonders of the view on a moonlit night, the peace and tranquility of the sea and easy, smooth access to night life of the second city. • If you wish, you may ‘hop’ off a boat at the Fisherman ‘s Marina at Glittering Waters, stay a week or two or even a whole month and be picked up only two minutes away. • Available in October 2011 for short or long-term rental at a reasonable price that you can afford.