Ashford W. Meikle, Staff Reporter
BERRY
IT WAS the financial services sector which emerged as winners in practically every category of the Jamaica Stock Exchange (JSE) Best Practice Awards, which was held last Friday at the Hilton Kingston hotel.
At the end of the evening, the Bank of Nova Scotia (Jamaica) Limited and GraceKennedy Limited emerged as joint winners of the overall top prize, even though the latter did not top any of the individual categories.
Other winners included Mayberry Investments Limited, First Global Stockbrokers, Dehring, Bunting and Golding and the Jamaica Broilers Group. Overall, the financial sector swept five of the six awards for 2004.
Scotiabank won two awards, for the Best Practices Corporate Disclosure and Investor Relations and the company with the best annual report. Given its track record of submitting timely reports and its long standing to the JSE, it is not surprising that Scotiabank won these two awards.
As a case in point, recently the bank published its end of year results less than one month after the end of its financial year - well ahead of the 120 days required by the JSE. Speaking to The Gleaner, executive vice-president and chief financial officer, Stacie-Ann Wright had this to say, "These awards validate Scotiabank's commitment to high standards and excellence. We pride our selves in sound and effective corporate governance, as this is a priority for Scotiabank. It is very important to us that we exceed our stakeholders' expectations by consistently providing timely, accurate and quality information."
For DB&G - which was judged the best performing category - the award is a validation of its "strategic focus," according to president, Garfield Sinclair. He told The Gleaner that the award reflected DB&G's "entrepreneurial culture and an almost fanatical commitment to customer service, which has manifested itself in above average and sustainable returns on our equity along with excellent stock price growth."
The company also received awards in the Best Practices Investor Relations (Stock Brokerage) and Best Practices Website (Stock Brokerage).
"When we first started trading in December 2001, we decided we needed to come with a difference. We looked at what was lacking and then spoke with some of the more experienced players in the market to get their feedback on what they expected from a stockbrokerage company. This was market information," said senior assistant vice-president for equity trading at First Global Stockbrokers, Jason-Craig Watson. FirstGlobal won in the category of Best Practices (Stockbrokerage).
The company is well-known for its well-researched and highly informative "Evening Cal," report which tracks the equities, stock and money markets on daily basis.
For Mayberry Invetsments, customer service is paramount - the company won in the Best Practice Investor Relations category.
"We feel good about the award. We are in a customer service business and when your customers tell you that you are doing your job, it's a wonderful feeling," chairman of Mayberry, Christopher Berry said. Berry expressed his thanks to Mayberry's customers since "they were the ones who picked us. We also want to congratulate all the winners of the other awards."
The lone non-financial winner was the Jamaica Broilers Group which won the Best Practices Website (Companies) Award.
