Mon | Jun 17, 2019

Stories by Steven Jackson/Senior Business Reporter

Published:Wednesday | June 12, 2019 | 12:14 AMSteven Jackson/Senior Business Reporter

SSL Venture Capital Jamaica announced a new board at the weekend following three resignations, which was followed up with notice of two management changes. Separately, the company’s auditor, Baker Tilly Strachan Lafayette, avoided giving an opinion...

Published:Wednesday | June 12, 2019 | 12:11 AMSteven Jackson/Senior Business Reporter

Proven Investments Limited, PIL, is projecting significant profit growth this year when its investment in financial conglomerate JMMB Group would be fully factored into its financials. JMMB contributed US$1.3 million to Proven’s bottom line for the...

Published:Wednesday | June 5, 2019 | 12:41 AMSteven Jackson/Senior Business Reporter

PanJam’s naming of its waterfront development as the ROK Hotel, in partnership with the international brand Hilton, will aid in the revival of the downtown Kingston business district that has been afflicted by urban blight for decades, says...

Published:Wednesday | June 5, 2019 | 12:29 AMSteven Jackson/Senior Business Reporter

Flooring contractor Caribbean Industrial Systems (CIS) will seek to raise $65 million in a bond offering as part of a series of financing measures that will eventually see the company listing on the stock exchange. CIS plans to list within two...

Published:Wednesday | May 29, 2019 | 12:09 AMSteven Jackson/Senior Business Reporter

CHRISTCHURCH, Barbados: Tahseen Sayed, World Bank country director for the Caribbean, says more investment is needed to save lives in a region hit annually by storms. And Prime Minister of Barbados Mia Mottley wants Caribbean nations to create...

Published:Wednesday | May 15, 2019 | 12:19 AMSteven Jackson/Senior Business Reporter

The Loshusan family plans to build a shopping complex in Mandeville at Caledonia Drive on lands that currently house a Shoppers Fair supermarket, an inside source revealed. The Loshusans are indirectly connected to Shoppers Fair as members of the...

Published:Wednesday | May 8, 2019 | 12:16 AMSteven Jackson/Senior Business Reporter

JMMB Group, one of the largest financial service providers, advised its clients to consider cutting their losses and sell their Digicel bonds, which is now trading at around 33 cents on the dollar. It’s a sign that investors are losing patience...

Published:Wednesday | May 1, 2019 | 12:10 AMSteven Jackson/Senior Business Reporter

Caribbean Cement Company Limited beat expectations when it tripled first-quarter profit in results ­released on the weekend, and the market has ­rewarded the company with a record stock price near $80. Earnings per share at the cement maker...

Published:Wednesday | May 1, 2019 | 12:08 AMSteven Jackson/Senior Business Reporter

The Ministry of Finance in Trinidad and Tobago approved a licence for NCB Financial Group’s acquisition of Guardian Holdings Limited, GHL, with ‘best wishes’ for the parties to a transaction that has buy-in from shareholders but has been held up by...

Published:Wednesday | April 24, 2019 | 12:21 AMSteven Jackson/Senior Business Reporter

Proven Wealth Limited has launched a platform that allows Jamaican investors more options to live-trade US stocks at cheaper prices, becoming the second local broker known to offer such services. “Customers are demanding this,” said Johann Heaven...

Published:Wednesday | April 24, 2019 | 12:18 AMSteven Jackson/Senior Business Reporter

Jamaican households are servicing three times more debt than a decade ago. The Bank of Jamaica (BOJ) is reporting that $56.60 of every $100 of household income goes towards the servicing of personal loans, the highest level mapped by the central...

Published:Wednesday | April 24, 2019 | 12:16 AMSteven Jackson/Senior Business Reporter

The David Boxer auction held earlier this month provided a snapshot of the state-of-art investment in Jamaica, with just half the nearly $20 million worth of pieces on sale finding buyers. The auction saw the unlocking of 101 works by a series of...

Published:Wednesday | April 10, 2019 | 12:22 AMSteven Jackson/Senior Business Reporter

Whim Development Company Limited, whose two directors are attorney Hugh Hart and businessman Albert Donaldson has proposed to develop over 875 houses in a gated community in Old Harbour, St Catherine. It would become the latest development along...

Published:Wednesday | April 10, 2019 | 12:14 AMSteven Jackson/Senior Business Reporter

The Government is aiming to raise $5.5 billion from the initial public offering (IPO) of Wigton Windfarm, which operates wind turbines in Manchester. Concurrently, lead broker Mayberry Investments has indicated that it has priced the stock at $0.50...

Published:Friday | March 29, 2019 | 12:24 AMSteven Jackson/Senior Business Reporter

Wigton Windfarm Limited, which operates wind turbines in Manchester and has refinanced US$49 million of its debts at lower rates in preparation for listing on the Jamaica Stock Exchange (JSE), will be growing its footprint by constructing solar...

Published:Friday | March 29, 2019 | 12:19 AMSteven Jackson/Senior Business Reporter

Playa Resorts reported profit for its December 2018 year end which reversed losses a year earlier, but the stock still trades below the price at the time it acquired all-inclusive properties owned by Sagicor in Jamaica. Playa’s stock received some...

Published:Wednesday | March 6, 2019 | 12:15 AMSteven Jackson/Senior Business Reporter

The Jamaica Stock Exchange (JSE) has suspended trading in the Sweet River stock but the loss-making meat ­company’s management said they ­expected to get it reinstated right away. The JSE suspended trading of SRA shares on March 4, because the ­...

Published:Sunday | February 3, 2019 | 12:25 AMSteven Jackson/Senior Business Reporter

Coffee processor Salada Foods Jamaica Limited is offloading its spice company, which sold compressed pimento leaves to flavour the fire for jerk meats but has been idle since 2017. Salada owns 70 per cent of Pimora Company Limited, whose net assets...

Published:Wednesday | January 30, 2019 | 12:21 AMSteven Jackson/Senior Business Reporter

Energy company New Fortress Energy LLC, whose liquefied natural gas holdings are largely deployed in Jamaica to date, plans to raise US$300 million from its initial public offering of shares covering 12 per cent of the company. The American gas...

Published:Wednesday | January 9, 2019 | 12:00 AMSteven Jackson/Senior Business Reporter

Jamaica-based NCB Financial Group (NCBFG) has indicated that its consolidated revenues with Trinidad-based Guardian Holding Limited (GHL) would surpass US$1.5 billion, or just under J$200 billion, provided GHL shareholders accept the offer now...

Published:Wednesday | January 2, 2019 | 12:00 AMSteven Jackson/Senior Business Reporter

Investment company Eppley Limited, which provides financing for businesses, has become the first company to transition from the junior market of the Jamaica Stock Exchange (JSE) to the main market in a move described as net positive.Eppley's...

Published:Wednesday | December 19, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Shares in Playa Hotels & Resorts rallied at the top of the week following an announcement by Playa to buy back its own shares...

Published:Wednesday | December 5, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Aphria Inc, a cannabis company based in Canada, is defending its purchase of regional assets, including operations in Jamaica, following claims by outside investors that the assets are largely hollow.The Jamaican operation, known as Marigold, is led...

Published:Wednesday | November 21, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Seeking to quell market fears, chairman of Sagicor Real Estate X Fund, Richard Byles, said the billion-dollar loss reported in the September quarter was not an indictment of the company's performance, but rather reflected a dip in the price of Playa...

Published:Wednesday | October 31, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Gary Matalon, CEO of the KLE Group, which operates the Tracks & Records restaurants co-branded with partner Usain Bolt, is more upbeat about the franchise, based on better than expected sales at the first foreign casual diner now operating in London...

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