UMI Details “Funding Matrix” For Bermuda Govt

November 25, 2015

UMI has offered details on its funding matrix for the Bermuda Government, saying that it has “secured a funding program for a diverse infrastructure” and is seeking an open engagement meeting by the end of November.

A spokesperson said, “UMI understands the challenges that the Government of Bermuda has ,and is under, regarding the funding of capital projects and specifically how to fund them without putting more debt onto the Government of Bermuda and the people of Bermuda.

“We are happy to state that our funding matrix will assist the Government in the following ways: the Government will not have to put up any significant cash; the Government will keep control of any Government sponsored projects; and there will be no loss of revenue to the Government.

“UMI is very pleased to announce that they have officially secured a funding program for a diverse infrastructure and development program called The UMI Bermuda Master Development Plan.

“The investment group has earmarked a $5 Billion development funding program for use in UMIs various deployment proposals, including to support the Government’s commitment to large scale employment; to facilitate the 1st phase of Program Development; to set up the requisite administrative and capacity in Bermuda that will support the delivery of the agreed to Program delivery; construction of the new bridge and causeway; and development Fund that provides capital for the Government: capital / infrastructure projects and development programs.

“We will share presenting an outline of the other infrastructure projects / capital projects we have in mind for Bermuda.

“To set up investment services for funding private sector projects, UMI is seeking an open engagement meeting by the end of November, with the Government of Bermuda to initially secure a Memorandum of Understanding for the new bridge and causeway and a number of additional projects as the first phase of a long term Bermuda commitment.

“The UMI program will be delivered in development phases based on agreed to terms with the Government of Bermuda.

“The investment group leader Peter Yeung [International ASEAN Corp] and members of the alliance group are looking forward to visiting Bermuda for meetings with Government of Bermuda to secure agreements in December of 2015.

“The alliance group of investors and UMI are excited to be able to work with the Government in facilitating both large scale and diverse employment for Bermudians as well as significant foreign direct investment into both infrastructure and new economic portals that represent new opportunities for Bermuda.

“UMI will be providing more information to the public on the projects shortly.”

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Comments (5)

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  1. hmmm says:

    DEFINITION of ‘Investor’:

    Any person who commits capital with the expectation of financial returns.

    How about you identify how the investors will get these financial returns.

  2. jt says:

    Or they could just give us enough to pay off the debt.

    Something smells and this time it ain’t the AG report.

    Run.

  3. St. D says:

    If they are serious about talking to the government, why are they doing press releases instead?

    • craig looby says:

      We have been doing a series of press releases to inform the public. And a press release has been sent out today, to inform the public about our meeting yesterday with the Government. Thanks for your interest.

      • craig looby says:

        Press Release to all Media Nov 26, 2015

        A funding program for a diverse infrastructure and development program called The UMI Bermuda Master Development Plan, Is being presented to Bermuda.

        UMI (Urban Maximum Industries Inc.) is providing an update for the public of the engagement process with the Government of Bermuda. UMI was able to secure a meeting with the Government of Bermuda ( Nov. 25, 2015 ) which we would like to thank both the Premier and Minster Gibbons (Economic Development).

        The salient points are that UMI is to pursue a vetting process as per the guidance received via the Bermuda Monetary Authority and the Bermuda Business Development Agency.

        We are seeking a December meeting with the Government of Bermuda, as we seek to deliver both foreign direct investment and new employment opportunity for Bermudians.

        Sincerely,

        Craig Looby
        UMI Inc. Founder and President