GuySuCo CEO demands $25M from Stabroek News over ‘libellous publication’

Guyana Sugar Corporation (GuySuCo) Chief Executive Officer (CEO) Paul Cheong has signalled his intention to take legal action over defamatory comments made by a letter writer and published in a section of the media, regarding his leadership of the company, if $25 million in damages aren’t paid.
In a letter of demand, Cheong has threatened to take legal action over a letter to the editor that was published by Stabroek News. In that letter, dated May 19, the writer made a number of accusations against Cheong ranging from his sourcing of mechanical parts for GuySuCo to management of the company’s finances.

According to Cheong’s letter of demand, the letter’s accusations are defamatory, false and have caused serious harm to his reputation. He pointed out that in addition to his longstanding service to GuySuCo, he has also held roles in a number of private companies and the Private Sector Commission (PSC).
“Unsurprisingly, our client’s reputation has been seriously harmed by the publication of such defamatory allegations, the nature of which are deeply distressing, embarrassing and wholly unfounded. Our client is a well respected and prominent figure in the business sector in Guyana with over 40 years of experience.”
“As previously mentioned, he currently holds the position of Chief Executive Officer of GuySuCo since 2024, having previously served as a member on the company’s Board of Directors. In addition to his longstanding service to GuySuCo, our client served as Chairman of the Private Sector Commission in 2021 and 2022,” the letter further said. Cheong demanded a full retraction; for him to be indemnified for costs incurred in the matter, and for damages in the sum of $25 million to be paid. Further, the newspaper was given until July 3 to respond.
Only recently, Cheong also had cause to deliver a scathing rebuttal to recent criticism from accountant and commentator Lalbachan Christopher Ram. Cheong asserted that his leadership is rooted in experience, measurable achievements, and a commitment to rebuilding an industry once left in shambles.
In a strongly worded statement responding to Ram’s letter titled “Sugar Dreams and Capital Nightmares”, Cheong dismissed the criticism as outdated and politically motivated, accusing Ram of “recycling the same tired narrative for over fifteen years” while ignoring the structural progress being made at GuySuCo.
Cheong defended his track record, citing more than 35 years of experience in the sugarcane industry, including his tenure as one of the country’s largest cane farmers, as well as his long-standing service on the Board of GuySuCo under both the People’s Progressive Party (PPP) and A Partnership for National Unity (APNU) administrations.
He also highlighted his broader agricultural background and accomplishments during his tenure with the PSC where he said he doubled corporate membership, improved earnings, and expanded market access for Guyanese products.
The legal threat comes at a time when the Government has signalled that GuySuCo must focus on diversification. During his address at the Enmore Martyrs Ceremony, President Dr Irfaan Ali had stressed that GuySuCo must diversify its operations to support other crops such as rice and cassava.
“We have to think strategically of how we will expand the role of GuySuCo. And perhaps, it is time for us to reimagine GuySuCo’s role altogether. Why must its mandate stop only at sugar? GuySuCo can and must become a hub of rural economic development. We don’t only want sugar workers to rely on their income from sugar,” President Ali said.
Between 2020 and 2024, the Government invested $45 billion in the sugar industry, to revitalise the sector and make it a vital component of the country’s developmental plans. The focus has been on modernising operations, including the mechanisation of GuySuCo estates, with a significant portion of the estates now automated.
Additionally, efforts have been underway to recapitalise the industry through the replacement of outdated infrastructure and systems, aimed at improving overall efficiency after the damage brought on by the former APNU/AFC Administration’s efforts to gut the industry.
With a focus on strengthening internal cooperation, the Government hopes to bring the sugar industry back to its former glory, contributing once again to the nation’s development and economic growth.