TELCOM HOLDINGS Limited says a cheque for almost US$400 000 will reach the Barbados Government by November 29, thus ensuring that Sunbeach Communications Inc. retains its licence to operate a cellular service.

This was the latest word from Dr Joseph Laquis, principal of Telcom Holdings of Trinidad and Tobago, who admitted that the payment was dangerously close to the licence expiration date.

In an exclusive interview with BARBADOS BUSINESS AUTHORITY from his Port-of-Spain office, Laquis said he wanted to quiet rumours that the Trinidadian firm was so distracted by preparations to launch its cellular service in the twin-island republic that Sunbeach was on the back burner.

Laquis' company, LaqTel Communications Inc., has also received a licence to operate a cellular service in the newly liberalised Trinidad and Tobago telecommunications market.

Laquis said fees totalling BDS$797 000 would be deposited with Barbadian authorities.

"After payment of the fees, the next step will be to pay for 51-per-cent share in the company – then we will go public to make an offer to other shareholders, as the law requires," he said.

It has been some weeks since Telcom Holdings got approval from Government that would allow Sunbeach to keep its cell licence even though the company was being taken over by the Trinidadian concern.

Sunbeach, an Internet service provider, received the licence back in 2003 but faced financial difficulty and was unable to get its planned cell company off the ground.

As a result of its poor financial state at the end of its 2004 financial year, the Barbados Stock Exchange suspended trading of Sunbeach shares last September. Shares in the company have not traded since, and its 2005 audited financial report has not yet been published. (GE)

CAPTION: DR JOSEPH LAQUIS, principal of Telcom Holdings of Trinidad and Tobago.