Mon | Mar 1, 2021

Stories by Karena Bennett/Business Reporter

Published:Wednesday | February 24, 2021 | 12:18 AMKarena Bennett/Business Reporter

For months, Jamaican manufacturers watched as non-biodegradable plastics entered the market and grew in volume, even while they were still counting the cost of the ban on single-use plastic packaging and styrofoam containers. They had ceded space...

Published:Wednesday | February 24, 2021 | 12:09 AMKarena Bennett/Business Reporter

NCB Capital Markets Limited, the lead broker and arranger of the initial public offering of shares, or IPO, in petroleum marketing company Future Energy Source Company, which trades as Fesco, was still making edits to the prospectus on Tuesday,...

Published:Wednesday | February 17, 2021 | 5:02 AMKarena Bennett/Business Reporter

Pulse Investments Limited, founded by its executive chairman, Kingsley Cooper, is in the process of acquiring the nine-acre Villa Ronai property in Stony Hill, St Andrew, which is also owned by Cooper and is the site being used for development of...

Published:Wednesday | February 17, 2021 | 4:51 AMKarena Bennett/Business Reporter

Bar Central Limited has fallen victim to the market downturn in the entertainment and hospitality sectors. Majority owner SSL Venture Capital Jamaica, which trades as SSL Ventures, made the call to lock down the business effective December 31,...

Published:Wednesday | February 10, 2021 | 3:26 AMKarena Bennett/Business Reporter

Food and financial services conglomerate GraceKennedy Limited is investing US$3 million in the construction of a second plant at the Grace Food Processors (Canning) complex, to facilitate its merger with another of the group’s manufacturing...

Published:Wednesday | February 10, 2021 | 3:20 AMKarena Bennett/Business Reporter

Lasco Distributors Limited aims to power close to a third of its operation using solar energy, and potentially a portion of its sister manufacturing company at White Marl, St Catherine, through a 500-kilowatt photovoltaic system. The buildout of...

Published:Thursday | February 4, 2021 | 12:20 AMKarena Bennett/Business Reporter

The Private Sector Organisation of Jamaica (PSOJ) is piling pressure on the Government and the Opposition to fast-track the passage of the Enhanced Security Measures Act amid renewed anxiety about violent crime, particularly murder. In a landmark...

Published:Wednesday | January 27, 2021 | 4:20 AMKarena Bennett/Business Reporter

New guidelines for sweetened beverages in schools and government health facilities took effect on January 1, but there is lingering uncertainty in the market as to whether reduced-sugar drinks can effectively compete against flavoured water...

Published:Wednesday | January 20, 2021 | 12:14 AMKarena Bennett/Business Reporter

Ice cream maker Caribbean Cream Limited, which trades as Kremi, is looking to invest US$2 million, or $288 million in local currency, in a combined heat and power or CHP plant. The company says it is in discussions with liquefied natural gas or LNG...

Published:Wednesday | January 20, 2021 | 12:05 AMKarena Bennett/Business Reporter

Andrew Issa will soon roll out a new real estate development on the road to doubling the volume of commercial space held and managed by his companies to around 200,000 square feet in four years. The new project slated to go to construction in New...

Published:Wednesday | January 13, 2021 | 12:07 AMKarena Bennett/Business Reporter

Derrimon Trading Company is pumping US$9 million ($1.3 billion) into the acquisition of Brooklyn-based grocery store businesses, FoodSaver New York and Good Food for Less, which sees the distribution company founded by Derrick Cotterell expanding...

Published:Wednesday | January 6, 2021 | 12:07 AMKarena Bennett/Business Reporter

Like so many facets of life in so many places around the world, the agriculture and manufacturing sectors in Jamaica have the COVID-19 pandemic to thank for cutting short and, in fact, overturning the promising growth spurt with which they started...

Published:Wednesday | January 6, 2021 | 12:06 AMKarena Bennett/Business Reporter

If you have been contemplating moving out of the family home into your own rented space, then 2021 might just be the year to make the move, as early forecasts by the Realtors Association of Jamaica (RAJ) are that rental prices could continue to...

Published:Wednesday | December 23, 2020 | 12:15 AMKarena Bennett/Business Reporter

Some operators of high-volume employment-creating business process outsourcing (BPO) companies are staring anxiously at the looming December 31 deadline when current temporary work-from-home arrangements will end for the sector. With just days to...

Published:Wednesday | December 16, 2020 | 12:13 AMKarena Bennett/Business Reporter

Regional rating agency CariCRIS has downgraded adventure park Mystic Mountain Limited after the company failed to make an interest payment on its US$8-million debt obligation which became due in September 2020. It comes amid some nine months of...

Published:Wednesday | December 9, 2020 | 12:17 AMKarena Bennett/Business Reporter

Future Energy Source Company, which trades as Fesco, was expecting to have an additional six service stations operational across Jamaica by this time, but the petroleum marketing company has so far completed just the adjoining supermarket to the...

Published:Wednesday | December 2, 2020 | 12:05 AMKarena Bennett/Business Reporter

KLE Group, which operates the Usain Bolt’s Tracks...

Published:Wednesday | November 25, 2020 | 12:12 AMKarena Bennett/Business Reporter

Severe weather conditions over the past month along with challenges from the COVID-19 pandemic has caused vegetable prices across Jamaica to rise by an average 50 per cent in one week, November 14 to 21. Xavier Charvis, marketing officer at Rural...

Published:Wednesday | November 18, 2020 | 12:08 AMKarena Bennett/Business Reporter

The deal struck between food marketing company Nestlé Jamaica and GraceKennedy member company Dairy Industries Jamaica Limited should bring in an additional $20 million in annualised revenue to the group, in addition to opening up a new market...

Published:Wednesday | November 11, 2020 | 12:11 AMKarena Bennett/Business Reporter

The preliminary designs for the residences that will cut Pulse’s pathway into the residential real estate market are ready, and March is being targeted as the date to begin construction. Pulse Homes is one end of a two-part project that modelling...

Published:Wednesday | November 11, 2020 | 12:07 AMKarena Bennett/Business Reporter

Stationery and Office Supplies Limited, SOS, has acquired another property in Kingston for $15 million. The quarter-acre property at 36 Collins Green Avenue sits adjacent to lands the company bought at 34 Collins Green Avenue back in 2017. Both...

Published:Wednesday | November 4, 2020 | 12:16 AMKarena Bennett/Business Reporter

Half-way through fiscal 2020, two of the largest microfinance companies, Lasco Financial Services Limited and Access Financial Services Limited, have shed nearly three quarters of their earnings, a signal of the pressure facing microlenders in an...

Published:Wednesday | October 28, 2020 | 12:18 AMKarena Bennett/Business Reporter

Food distributor Everything Fresh Jamaica Limited, EFresh, has gotten the nod from the Central Bank of Bahamas for the acquisition of a 60 per cent stake in a company it took a bet on in early 2019. Details of the transaction were not disclosed,...

Published:Wednesday | October 21, 2020 | 12:10 AMKarena Bennett/Business Reporter

Real estate investment trust Kingston Properties Limited, KPREIT, plans to spend no more than $60 million on improvements to its newest acquisition, commercial property at East Ashenheim Road in Kingston, before going to the market in search of...

Published:Wednesday | October 14, 2020 | 12:15 AMKarena Bennett/Business Reporter

Cutting it close, the Supreme Court will hold hearings on whether Key Insurance Company can hold a virtual annual general meeting (AGM), one day ahead of its convening. Chairman Don Wehby thinks it might be too close, and might mean a postponement...

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