Tue | Sep 18, 2018

Stories by Avia Collinder/Business Reporter

Published:Wednesday | September 12, 2018 | 12:00 AMAvia Collinder/Business Reporter

Two Jamaican conglomerates were denied the opportunity yet again to invest in what would have been a new area of business for them - airport operations.The Development Bank of Jamaica (DBJ) has chosen a Mexican firm for the Norman Manley...

Published:Wednesday | September 5, 2018 | 12:00 AMAvia Collinder/Business Reporter

Jamaican realtors, property developers and bankers selling mortgages are reporting more interest in investment property purchases, and a concurrent upswell in mid-income developments in Kingston that is partly a response to that demand.Devon Young,...

Published:Wednesday | August 29, 2018 | 12:00 AMAvia Collinder/Business Reporter

Caribbean Flavours & Fragrances Limited (CFF) is now rolling out a salt and sugar reducing agent for distribution to the beverage and baking trades in Jamaica and the Caribbean, under the brand name Flavour Fit...

Published:Wednesday | August 29, 2018 | 12:00 AMAvia Collinder/Business Reporter

The logistics park being developed by China Harbour Engineering Company (CHEC) is two years away from completion, but already various businesses in food distribution, equipment and parts, and fast moving consumer goods are expressing interest in the...

Published:Wednesday | August 22, 2018 | 7:36 AMAvia Collinder/Business Reporter

Sagicor Real Estate X Fund Limited reported a slippage in net profit by two per cent at half-year quarter ending June, relative to last year.But CEO Brenda-Lee Martin says the company expected improved results going forward, arising from the Playa...

Published:Wednesday | August 22, 2018 | 12:00 AMAvia Collinder/Business Reporter

Jamaica Mortgage Bank, JMB, aims to lend $1.3 billion to developers for housing construction this fiscal year.If the state-owned financier hits the target, it would represent a one-third increase atop the $972 million of loans written last year.JMB...

Published:Wednesday | August 15, 2018 | 12:00 AMAvia Collinder/Business Reporter

With Cabinet approval in hand, the Ministry of Labour and Social Security disclosed on Monday that it is pursuing an overhaul of public pension fund manager National Insurance Fund (NIF) that will result in its merger with the National Insurance...

Published:Wednesday | August 1, 2018 | 12:00 AMAvia Collinder/Business Reporter

For more than two decades, Pulse Investments Limited has been managed by a company owned by its chairman, Kingsley Cooper, and was the vehicle through which he was compensated for services that extended beyond his executive role.But that arrangement...

Published:Wednesday | July 25, 2018 | 12:00 AMAvia Collinder/Business Reporter

Tax Administration Jamaica (TAJ) has published the final version of a transfer pricing agreement practice note, the TPA, outlining what it says is a mechanism to reduce disputes over the reporting of arm's length transactions.The Jamaican TPA is a...

Published:Wednesday | June 20, 2018 | 12:00 AMAvia Collinder/Business Reporter

The Jamaica Agricultural Commodities Regulatory Authority, JACRA, may be in the process of searching for management talent, but its collection mechanisms appear to be firmly in place.The Ministry of Investment, Commerce, Agriculture...

Published:Wednesday | June 20, 2018 | 12:00 AMAvia Collinder/Business Reporter

Pulse Investments Limited has wrapped up the construction of 20 residential units at the Trafalgar Road complex, which will be marketed on Airbnb.Chairman Kingsley Cooper said that, to bring clients to the property, Pulse would seek to leverage the...

Published:Wednesday | May 16, 2018 | 12:00 AMAvia Collinder/Business Reporter

CB Group is set to ramp up exports of chicken and pork to Caribbean markets following the green light from Council for Trade and Economic Development, COTED, in the wake of a risk assessment of producers in Caribbean countries, Jamaica among them....

Published:Wednesday | May 16, 2018 | 12:00 AMAvia Collinder/Business Reporter

Nestle Jamaica Limited, which claims a 43 per cent share of the local retail coffee market as of February, says it's considering hiking the price of its products, following a 1,200 per cent increase in duties related to a new import cess.The Swiss-...

Published:Wednesday | May 16, 2018 | 12:00 AMAvia Collinder/Business Reporter

Dr Devon Osbourne and Dr Karen Asher-Osbourne, owners of Portmore Hospital Complex Limited, figure that in six years they will reach break-even on their investments to expand the business and grow market share.Portmore Hospital, which is now...

Published:Wednesday | May 9, 2018 | 12:00 AMAvia Collinder/Business Reporter

With the announcement by Minister of Industry, Commerce, Agriculture...

Published:Wednesday | April 18, 2018 | 12:00 AMAvia Collinder/Business Reporter

Having pulled back from plans to dispose of the Seprod shares held by the Coconut Industry Board, under a new minister, the agency is now looking for buy-in for a $3-billion capital programme and is seeking private partners for various commercial...

Published:Wednesday | April 11, 2018 | 12:00 AMAvia Collinder/Business Reporter

The Companies Office of Jamaica is learning the hard way that the mandatory requirement that all companies identify their beneficial owners on their annual returns should have had a carveout for publicly listed companies.The stock of listed...

Published:Wednesday | April 11, 2018 | 12:00 AMAvia Collinder/Business Reporter

Finsac is seeking buyers for its 72 per cent stake in Ciboney Group, totalling more than 393 million shares, having written off most of the company's debt, and eliminated some of its deficits, using proceeds from the sale of its sole landholding....

Published:Wednesday | March 21, 2018 | 12:00 AMAvia Collinder/Business Reporter

The Agro-Investment Corporation (Agro Invest), a business facilitation unit with the Ministry of Agriculture which handles several multi-acre agro-parks across the island, indicates that it is set to significantly increase acreage for farming in the...

Published:Wednesday | March 7, 2018 | 12:00 AMAvia Collinder/Business Reporter

Caribbean Producers Jamaica Limited (CPJ) quietly expanded its juice markets last year in Jamaica and the Caribbean after retooling its manufacturing lines at a cost of US$350,000.The company will spend another US$500,000 this year on further...

Published:Wednesday | February 28, 2018 | 12:00 AMAvia Collinder/Business Reporter

Despite the big appetite for initial public offerings, which heated up last year end, the Bank of Jamaica reports that performance of the stock market continued to soften, coming from its high in 2015 when the indices registered more than 90 per...

Published:Wednesday | February 28, 2018 | 12:00 AMAvia Collinder/Business Reporter

Chairman of Sagicor Group Jamaica Limited, Richard Byles, said the corporation will be holding on to its largest property, a 724-room Hilton DoubleTree (HDT) in Orlando, Florida, following the announcement of a deal in which the group is combining...

Published:Wednesday | February 21, 2018 | 12:00 AMAvia Collinder/Business Reporter

The debt financing raised recently by modelling agency Pulse Investments Limited will be used only if needed, the modelling agency's chairman, Kingsley Cooper, said Tuesday.The agency shelved a rights issue that was planned for the final quarter of...

Published:Wednesday | February 21, 2018 | 12:00 AMAvia Collinder/Business Reporter

GraceKenndey Limited and its regional partners want a bigger slice of Barbados' merchant banking sector, but the merger under consideration will be guided by a feasibility study that is under way.Signia Financial Group Inc of Barbados, in which...

Published:Wednesday | February 21, 2018 | 12:00 AMAvia Collinder/Business Reporter

Jamaica Mortgage Bank (JMB) says a debt settlement with associated companies Ebony View Limited and YP Seaton & Associates Company Limited on a loan that backed a housing development in St Catherine would substantial reduce its non-performing loans or NPL portfolio...

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