April 2025 Issue 36
Private Sector Group of the Central Business District Foundation
The third meeting of the private sector group was held on 27th march 2025 in one of the board rooms at avenue 77 during which an election was held between the members present to elect the administrators appointed by the private sector. These will now join the six members that were appointed by the govvernment. It is with great satisfaction to note that the following were elected to be the new administrators of the foundation representing the private sector:
Bank of Valletta p.l.c., C. Fino & Sons Ltd, the Quad Central, Methode Electronics Malta Limited, PricewaterhouseCoopers and Simonds Farsons Cisk p.l.c. Whilst 5 of the administrators presented themselves for re-election, Forestals Investments Ltd did not wish to remain an administrator and The Quad was elected instead. We wish to take this opportunity to thank Forestals Investments Limited for their great contribution to the Board and hope that they will remain active Founders in the Foundation. On the other hand, we wish to also take this opportunity to welcome the Quad Central to the Board of Administrators and look forward to working with them for the continued benefit of the Central Business District Foundation.
During the meeting, the Members of the Private Sector Group also committed to participate in the Foundation Endowment Scheme for another 3 years, that is the period 2025 to 2028. During this meeting, it was also recommended that Mr William Wait is again reappointed Chairman of the Board of Administrators for a further term of eighteen months.
The meting then proceeded with the adoption of the Scheme Rules on New Endowments based on the previous Scheme Rules of the Foundation and thus rules outlining a tariff structure based on a dual classification according to usage (number of employees) and presence (footprint area in square metres). Both bands are assigned an equal 1:1 weighting. It is to be noted that micro-operators will continue to participate in the Foundation through the Chamber of SMEs which as the representative of the micro- SMEs, will continue to be considered a Founder in the Foundation.
We take this opportunity to invite others to become members of the Foundation for the benefit of the district. If you wish to do so or require further information, please contact us by sending an email on carmelo.abela.1@gov.mt.
Hence the new administrators of the Foundation are:
- Bank of Valletta p.l.c.
- C. Fino @ Sons Ltd.
- Methode Electronics Ltd.
- PricewaterhouseCoopers
- Simonds Farsons Cisk p.l.c
- Quad Central