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Microcap & Penny Stocks : PanAmerican BanCorp (PABN) -- Ignore unavailable to you. Want to Upgrade?

To: Fred C. Dobbs who wrote (35324)	5/3/1999 12:11:00 PM
From: JOEY	Read Replies (2) \| Respond to of 43774

Those charts show everything is still moving up. I am not a huge fan of the charts with relations to BB stocks. One PR could blow the charts to extinction in a minute. Volume and managements business plan are the keys IMO. Joey (Size 12 1/2)

To: Fred C. Dobbs who wrote (35324)	5/3/1999 12:18:00 PM
From: JOEY	Respond to of 43774

RB POST FROM PCMODEM Monday, 3 May 1999 at 12:13 PM EDT Post # of 27870 NEWS FROM BELIZE Although there is no mention of PABN, there is a great deal of solid info in support of how PABN will participate in the Belize government's program to provide affordable housing to the citizens there. Links to source at the end of the article. *****Mortgage market brightens Belize housing scene A new initiative by Government is attracting hard currency to Belize's economy through private investments. In a multimillion dollar deal signed earlier this month between the Development Finance Corporation (DFC), the Belize Investment Management Company (BIMCO) and the Trinidad-based Royal Merchant Bank, Royal Merchant has agreed to buy more than $46 million worth of Belize mortgages. BIMCO, which is an arm of Social Security in Belize, has received some$46 million in return, $19 million of which has gone back to the purse of Social Security. The remaining $28.2 million will go to the DFC for future housing programmes. Minister of Investment and Budget Planning Mr. Ralph Fonseca has said that the idea is to convert BIMCO from a mortgage company to a transfer agent for placing mortgages into secondary markets. The move will also allow BIMCO to become more involved in gathering mortgages from the Belize market, repackaging these and placing them on the international market. In doing so BIMCO will add to the flow of hard currency to help drive the Belizean economy. By attracting international investors Belize should have a supply of hard currency flowing into the economy on a continuous basis, Fonseca said."This is a clear example of confidence coming from the international community," he added. With the sale of BIMCO mortgages now complete, Social Security will no longer have to wait for payback on its loans. Mr. Ian McMillan, who heads BIMCO, estimated it would have taken BIMCO more than 14 years to collect this kind of money through regular mortgage transactions. McMillan also said that the quality of mortgages BIMCO plans to repackage will be investor-driven. The new moves have already sent off the right signals to major players in the international community. With there structuring of BIMCO his office will no longer be directly involved with the construction of homes, he said. Employees in the construction arm of BIMCO who were concerned about their jobs will also now breathe a little easier. The company has made arrangements for them to be employed in other construction agencies. DFC and other lending institutions, which over the years have been providing mortgage credit to Belizeans, now has a new source of funding, in addition to the $100 million loan which Prime Minister Said Musa has been able to negotiate with the Republic of China on Taiwan. Mr. Roberto Bautista, general manager of the DFC, has said that DFC is now fully prepared to meet the public demand for housing capital under its mortgage programme, adding that DFC would soon be launching a massive housing programme country-wide. Bautista also said that the sale BIMCO mortgages will not involve any change in the loan arrangements which BIMCO and DFC have with the Belizean public."The loans will be managed just as if they were ours, and any decision to take action against those in arrears will come from the DFC; not from Royal Merchant Bank. Criteria and interest rates also remain the same. The only difference, he said, is that BIMCO and DFC mortgages now allow more cash to become available to the DFC for on-lending to others," Bautista said. [SNIP] This daily news summary brought to you by The Reporter Newspaper bze.net and Naturalight Productions bze.net. Copyright 1998 The Reporter - All rights Reserved. This Naturalight Productions service is for personal use only. Commercial use or redistribution in any form, printed or electronic is prohibited. Please send questions or comments about the news to report@btl.net. Comments or problems about this news service to bcbnews-support@bze.net. Information about this service and other Internet services including website design and hosting available at info@bze.net. PCM GO PABN!!!