The Public Trust office during the quarter from October to December 2022 confirmed eight new wills were written and registered with the Office.
Three new estate files were opened, whilst four estates were closed during the quarter under review, according to the Ministry of Public Enterprises quarterly report made available publicly.
The Office recorded a Net Loss After Tax (NPAT) of $49,569, leading to a YTD net loss of $203,337.
“Liquidity position is healthy, as evidenced by its current ratio of 13.7:1. This comprises cash at the bank ($3.2m) and UTOS investment ($8.2m).”
For the previous quarter, from July to September 2022, eighteen new wills were written and registered with the Office, whilst five (5) were amended during the quarter.
Eleven new estate files were opened, whilst six estates were closed during the quarter. The Public Trust Office recorded a Net Loss After Tax (NPAT) of $153,768 at the end of the first quarter of the Financial Year 2022/2023.
“Liquidity position as represented by its current ratio of 12:1 is stable as supported by its significant cash flow balance of $11.7m as of 30th September 2022. 70% of this amount is invested in UTOS, of which 44% represents estate funds on investment.”
