In Brief
- ndervalued Land Leases: Minister of Land and Legal Affairs Saddam Hosein has accused the former PNM administration of granting state land leases to political allies and financiers at drastically reduced rates.
- The $51 Million Property: Hosein highlighted a specific deal where a Chaguaramas property valued at $51 million was leased to a company linked to former PNM treasurer Howard Chin Lee for a mere $51,000 assignment fee.
- Massive Mortgage Secured: After securing the lease with an annual rent of less than $3,000 across three parcels, the company reportedly used the state lands to secure a mortgage of US$19 million (over TTD$120 million).
- Opposition Absence: These revelations were made during Hosein’s contribution to the National Budget Debate, a sitting from which Opposition members were notably absent.
- Attorney General Referral: Hosein announced he has compiled the findings of this transaction, along with other questionable land deals granted for as little as $200 a year, and is submitting them to the Office of the Attorney General.
Caption: Saddam Hosein. Photo: T&T Parliament
By Alicia Chamely
Minister of Land and Legal Affairs Saddam Hosein is accusing the former People’s National Movement (PNM) administration of granting state land leases to political allies at vastly undervalued rates, highlighting a land deal between the PNM and its then-sitting treasurer and former National Security Minister, Howard Chin Lee.
Hosein detailed lease agreements made under the former administration to alleged PNM supporters and financiers during his contribution to the 2026/2027 fiscal year National Budget Debate on Monday at the Red House, Port of Spain.
The Opposition was notably absent from the Lower House chambers as Hosein made his contribution.
Stating that when it came to the country’s assets, the former administration “were only interested in how they can benefit themselves, their friends, their family, and their financiers,” Hosein highlighted the lease agreement of the former ALCOA site in Tembladora, Chaguaramas, to Tembladora Energy Logistics Limited.
Tembladora Energy Logistics Limited, Hosein said, was directly linked to former National Security Minister Howard Chin Lee, who during the transaction was the sitting treasurer of the PNM.
Hosein explained that under the original lease agreement signed between 1947 and 1950, ALCOA was not paying a premium rate, as the country earned revenue from the bauxite import and export operations of the company. He noted this was acceptable, as the arrangement was mutually beneficial.
He said when ALCOA wound up its operations, it sold its assets, located on the Tembladora site, to Pier One Marine Limited, of which Chin Lee was a director.
Hosein said when it came to the transfer of the land lease, it was requested that the lands not be transferred to Pier One Marine Limited, but to Tembladora Energy Logistics Limited, another company of which Chin Lee was a director.
He noted that at this time, the lands, divided into three parcels, were valued at $51 million.
Hosein said what drew his interest was that Tembladora Energy Logistics Limited was assigned the lease to this $51 million property for just $51,000.
He said more concerning was what took place after the lease was assigned.
Hosein said upon receiving the lease, Tembladora Energy Logistics Limited went on to mortgage the lands for US$19 million, or over TTD$120 million.
He said, “That is what they were doing while they were in government. I want to ask if the former prime minister has any interest in that property.”
Hosein said his inquiry revealed further “red flags” that were raised by public officers at the Office of the Attorney General during the processing of the lease, especially when it came to what was being paid in annual rent.
He revealed that under the former administration, Tembladora Energy Logistics Limited not only paid just $51,000 to have the lease assigned to them but paid under $3,000 per year for the three parcels as part of the lease agreement.
Hosein said, “But you know what gets even worse, Mr. Speaker? Do you know what the annual rent is that they pay for the three parcels? Parcel one: $2,400 per year. Parcel two: $172 per year. Parcel three: $10 per year.”
“The Cabinet said, ‘No, no, no, no! Don’t worry about none of that. We’re collecting $51,000 for a $51 million property, and then we’re allowing you to take that property, mortgage it, get a loan for US$19 million, and then you’re paying an annual rent of $2,400, $172, and $10.’ That is how they were governing,” he said.
Hosein announced he had packaged his findings and was submitting them to the Office of the Attorney General.
He said, “Why does Howard Chin Lee get preferential treatment as the treasurer of the PNM as compared to the ex-Caroni workers who are waiting over two decades for their leases? Why?”
Commenting on the Opposition’s absence in the Lower House chambers, he said, “They have to run away from the Chamber, Mr. Chair, because they cannot handle the truth. They cannot handle the truth.”
Hosein further pointed out that other land leases given during the PNM’s tenure were at undervalued rates.
These included a 20-acre parcel of land off the highway in Golconda for $200 a year to a sole trader registered under the name Damien Ling, and another 20-acre parcel given to HSM Farms Limited for $200 per year.
He also highlighted a parcel of land north of Grand Bazaar that had been allocated to National Petroleum for a gas station, which was reallocated to Bickram Ramnarine in a lease executed on September 8, 2025.
Hosein said this and findings concerning other land deals would also be submitted to the Office of the Attorney General.
