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Announcement - 4 June 2020

VSH Group of Companies

VSH Group of companies, in compliance with the stringent code red status as announced by the Suriname “Nationaal COVID 19 Management team” and the announcement by the Vice President of Suriname;

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The engine in different sectors
About Us
VSH United the dependable engine in varying business branches: Trading, Logistics, Steel Construction, Foods, Real Estate, Investment and Detergents. Through associated companies, VSH UNITED is also involved in the insurance and hotel business.
We are operating in 4 countries: Suriname (headquarters), Guyana, the United States of America and the Netherlands.

The headquarters in Paramaribo, Suriname provide the strategy, the financial and administrative services and acts as a legal and human resource counsel for all the 14 subsidiaries, which are independent operation companies.
Organization Chart
Our Core Values
VSH United is built on
Your Success is our desire
VSH United focuses on long-term and fruitful relationships with mutual benefits for both sides. That is why we do not focus on selling. Instead we focus on helping customers, partners and shareholders build their sustainable success. Our customers, partners and shareholders are part of the VSH ‘family’ for long-term and ever growing relations.
Trust in our relationships and personally responsible for all our actions
Even though VSH United is a big company, we stand for customized service. The relationship with our customers, partners and shareholders is a personal one because this is how we create trust, an important aim in our business activities. By having one-on-one relations, we produdly carry the responsibility for our individual actions.
Creating a better company for a better world
With a greater focus on social and planetary responsibilities and how our actions today impact those around us, now and in the future, we are continuously working to improve health-, environmental- and social funding policies.
Creating a better world for others, starts by ourselves, with ethic corporate governance in our VSH- companies.
The story of VSH over the years
In 1958 Jim Healy and Leo Tjin a Djie Founded the first company that ultimately led to become VSH
1958
Toeti Froeti Bar and Grill
1959
Head office – van ‘t Hogerhuysstraat 9-11 Since 15 November 1973
1973
Opening Steel Fabricating (VSH STEEL) plant 15 May 1982
1982
31 August 1990 Purchase of substantial shareholding in De Nationale and Hotel Torarica major companies in the insurance and hotel sectors
1990
First Export order of the Steel Company (VSH STEEL) to French Guiana
1993
7 August 1998 - The Company increases its shareholding in Consolidated Industries Corporation, a household detergent manufacturer, to 42%.
1998
CIC first export to the Caribbean
1999
September 2000 we are able to purchase a block of shares in Margarine- en Vettenfabriek N.V. (VSH FOODS)
2000
October 2001 VSH-United (USA) L.L.C. commences operations in Miami, Florida offering air- and ocean freight services in Suriname
2001
December 2002 Margarine- en Vettenfabriek (VSH Foods) received first export order to Curacao.
2002
06 November 2015 official opening of the new subsidiary VSH-United (Guyana) Inc in Georgetown, Guyana.
2015
01 December 2017 VSH-United (Nederland) BV is founded.
2017
01 January 2018 VSH-United (Nederland) purchases 51% of IFC Holding BV in the Netherlands.
2018
On 11 Spetemebr 2018 VSH REAL ESTATE GUYANA INC. is founded
2018
16 January 2020 , VSH Tech BV is founded in the Netherlands
2020
Management Directors of the Holding
The holding is managed by a Management Team consisting of a CEO, CLO and CFO. Monitoring of the Management-performance in relation to goal sets and advisory of the management team on relevant matters, is done by a Supervisory Board of Directors.
P. Healy
Chief Executive Officer (CEO)
M. Ramsundersingh
Chief Legal Officer (CLO)
P. Brahim
Chief Financial Officer (CFO)
“On behalf of the VSH United family, I wish to take this precious moment of thanking and appreciating our Customers, Partners and Shareholders for the trust in VSH, since the year 1958. ”
Patrick Healy | CEO
Supervisory Board of Directors
Supervisory Board
The Supervisory Board of Directors performed its duties in accordance with Suriname law, the Company’s bylaws and Corporate Governance Code. We advised management on relevant matters and monitored management performance in relation to goals set. Management of the Holding and the subsidiaries regularly informed us, both verbally and in writing, on policy and material aspects of business strategy, corporate planning, major events, investments and transactions.

Besides information of the company and the group as a whole, we also received a detailed monthly report from Management on the current business position of the Group’s subsidiaries while we were kept abreast of results and the financial position, risks and risk management, HR and IT performance and planning in a thorough manner. The Supervisory Board of Directors was directly involved in all decisions of fundamental importance to the Group. In addition, we discussed strategic issues with Management on a regular basis while the Chairman of the Supervisory Board and the Managing Directors maintained a constant exchange of information.
Diana R. Halfhide
Chairman of the Board

Elected member of the Supervisory Board in 2010

COO Suriname Alcoholic Beverages N.V./Managing Director, SAB Distribution N.V. (current)

President Board Foundation Bejaardenwerk Gerardus Majella

Member National Labour Advisory Board (Arbeidsadvies College)

Board member Foundation STIBEKA (Stichting Behoud Kathedraal)

Board member Suriname Arbitration Institute (SAI)

Secretary Board STIVASUR (Stichting Verantwoord Alcoholgebruik)

Master’s degree in Notary Law

Post-doctoral degree in Notary Law

Master’s in business administration, Corporate Strategy and Economic Policy

Post-doctoral degree International & Comparative Law

Post-graduate diploma Digital Business

Robert Hahn
Vice President of the Board

Elected member of the Supervisory Board in 2010

Member of the Audit committee of the Board

CEO of Datasur (2014- June 2019)

Manager Corporate ICT at Staatsolie Maatschappij Suriname N.V. (current)

Over 20 years’ experience in the ICT industry in Suriname and the Netherlands

Chairman of the ICT Association in Suriname (2011 – Jan 2018)

Board Member of the National Blood bank (since 2015)

Master’s degree in Information Technology

Master’s degree in Business Administration

Certified Information Systems Auditor (CISA)

James J. Healy Jr.
Board member

Elected member of the Supervisory Board in 2013

Member of the Audit- and Remuneration & Appointment committee of the Board

From 1973 until retirement in 2013 served in various positions of the VSH United Group, lastly as CEO

Chairman of the Supervisory Boards of Assuria N.V., Torarica Holding N.V., N.V. Consolidated Industries Corporation and N.V. VSH FOODS.

Chairman of the Board of Directors of Assuria General GY

Assuria Life GY

Member of the Advisory Board of Conservation International Suriname

Member of the Advisory Board of Vereniging Oase

Honorary Consul of Great Britain and Northern Ireland in Suriname

Bachelor’s degree in Marine Transportation

Kenneth R. Lim A Po
Board member

Elected member of the Supervisory Board in 2016

Member of the Remuneration & Appointment committee of the Board

CEO of “Bouwbedrijf Kiesel (current)

Member of the Board of Ariba (1981 – 1986)

President of Ponderosa Equestrian Center

Member of the Technical commission of Oase (2 years)

Bachelor’s degree in mechanical engineering

Bachelor’s degree in Business Administration

Stephen Smit
Board member

Elected member of the Supervisory Board in 2017

Member of the Audit committee of the Board

From 1991 until retirement in 2017 served as CEO of Assuria N.V.

Member of the Supervisory Board of Directors of Assuria N.V., Assuria General (GY) Inc., Assuria Life (GY) Inc., Gulf Insurance Ltd. and Assuria Life (T&T) Ltd.

Member of the Supervisory Board of Directors of N.V. VSH FOODS, N.V. Consolidated Industries Corporation, Torarica Holding N.V. and N.V. TBL Multiplex

Chairman of the Board of the Stichting Nationale Volksmuziekschool

Honorary Member of the Caribbean Actuarial Association

Master’s degree in Mathematics and Actuarial Science

Philip Fernandes
Board member

Elected member of the Supervisory Board in 2018

Member of the Remuneration & Appointment Committee

CEO of John Fernandes Ltd (current)

Director of Guyana Energy Support Services Ltd, John Fernandes Ltd, Bounty Farm Ltd, J.P. Santos & Co. Ltd, JPS Trading Inc., Fernandes Holdings Ltd, Fairfield Investments Ltd, Value 4 U Inc.

Chairman of Guyana Biscuit Holding Ltd

Chairman of Shipping Association of Guyana

Bachelor’s degree in Finance

Vincent Kenswil
Board member

Elected member of the Supervisory Board in 2018

Member of the Audit Committee

Servant Catalyst and Co Founder of Spang Makandra Studio N.V.

Co Founder Digital Talents Academy

Secretary of Creative Talents Foundation

Secretary of ICT Association Suriname (2012-2018)

Bachelor’s degree in Architectural Engineering

Corporate Governance
N.V. VERENIGDE SURINAAMSE HOLDINGMIJ./ UNITED SURINAME HOLDING COMPANY have adopted a Corporate Governance Code in January 2010. This was the outcome of an initiative by the Supervisory Board to implement a governance structure which clearly defines responsibility and authority of the supervisory and executive functions including a frame work for appraising the performance of VSH United.

The objective of the governance code is to improve the performance of the Managing Director, The Supervisory Board and the VSH United Group as whole. Our External auditor Luthman & Co were contracted to guide the development of the Governance Governance Code.
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