Wed | Dec 11, 2019

Stories by Karena Bennett - Business Reporter

Published:Sunday | December 8, 2019 | 12:19 AMKarena Bennett - Business Reporter

Norbrook Equity Partners, the parent company of Express Fitness Limited, has sold 10 per cent of its stake in Express Fitness to financial services company Sagicor Investments Jamaica Limited. The deal comes just a month shy of a year since...

Published:Friday | December 6, 2019 | 12:34 AMKarena Bennett - Business Reporter

Weeks after the take up of a 30 per cent stake in the business by PanJam Investment Limited and Portland Private Equity, itelBPO has broken ground in St Lucia for the development of a 20,000 square foot centre. Development of the two-storey...

Published:Friday | December 6, 2019 | 12:32 AMKarena Bennett - Business Reporter

L ess than a month before the styrofoam ban is to take full effect, business groups are still waiting for the Jamaican Government to give final word on whether their push for an extension will be heeded. Manufacturer Wisynco Group, which initially...

Published:Friday | December 6, 2019 | 12:27 AMKarena Bennett - Business Reporter

H aving added ‘sparkle’ to its cranberry-flavoured water, Wisynco Group is now positioning it as one of the main products to be pushed in export markets as the manufacturer works towards hitting a target of 10 per cent in foreign sales by 2021....

Published:Friday | November 29, 2019 | 12:27 AMKarena Bennett - Business Reporter

Jamaica Beverages Limited, JBL, a manufacturer of juice and milk products, has put up the business and its assets for sale to settle a court-awarded judgment amounting to US$4.5 million, or $560 million. In a public notice last week, the joint...

Published:Sunday | November 24, 2019 | 12:23 AMKarena Bennett - Business Reporter

In the six years since a quintet of local fuel dealers launched their own petroleum marketing business, Future Energy Source Company, they have built a network of 13 service stations, branded as Fesco, all of which are owned by their dealers. By...

Published:Friday | November 22, 2019 | 12:23 AMKarena Bennett - Business Reporter

Lumber Depot Limited, a company formed from the demerger of the hardware business from soapmaker Blue Power Group, will come to market with capitalisation of $706 million, under its initial public offering of shares, which hits the market today,...

Published:Thursday | November 21, 2019 | 2:53 PMKarena Bennett - Business Reporter

  The Development Bank of Jamaica has over $45 billion to pump into the economy through its redesigned Credit Enhanced Facility, CEF. Just over $5 billion has already been taken up by four financial institutions which intend to spread the...

Published:Sunday | November 17, 2019 | 12:30 AMKarena Bennett - Business Reporter

Courier company Mailpac Group Limited, MGL, hopes to settle at least $263 million in debt to its parent company, Norbrook Equity Partners, through a $495 million initial public offering of shares on the junior stock market. Mailpac, which used the...

Published:Friday | November 15, 2019 | 12:25 AMKarena Bennett - Business Reporter

As the Pension Industry Association of Jamaica, PIAJ, pushes for the Government to hasten its pace on phase-two reforms of the pension system, the Financial Services Commission, FSC, is now signalling publicly that it’s looking to deliver by next...

Published:Friday | November 8, 2019 | 12:37 AMKarena Bennett - Business Reporter

A mendments to the law that polices Special Economic Zones, SEZ, called for by players in Jamaica’s business process outsourcing, or BPO, sector could become a reality by end year, just in time for the transition from free zone operators to SEZ...

Published:Friday | November 8, 2019 | 12:30 AMKarena Bennett - Business Reporter

C anterbury Group, a Cayman Islands-based investment firm, has set up a company under the name, Jamaican Brew House Hops and Herbery, through which it intends to produce cannabis-infused beers. The company, which was launched on October 15 by a...

Published:Friday | November 1, 2019 | 12:28 AMKarena Bennett - Business Reporter

Marathon Insurance Brokers, a brokerage firm in operation north of 20 years, plans to triple market share in motor insurance through the launch of a platform that allows consumers to compare prices for auto insurance offered by multiple general...

Published:Friday | November 1, 2019 | 12:27 AMKarena Bennett - Business Reporter

F or every sentence she spoke, you were sure to hear a gleeful chuckle at the end. That is the nature of Thalia Lyn, the woman with the perennial smile, founder of the Island Grill restaurant chain and the 27th business leader to be inducted in...

Published:Friday | October 25, 2019 | 12:13 AMKarena Bennett - Business Reporter

Haiti Broilers SA, the Haitian operation of poultry producer Jamaica Broilers Group, JBG, has steadily grown the business over the past five years. For the financial year ending April 2019, the gains continued with growth in revenue by $150...

Published:Sunday | October 20, 2019 | 1:30 AMKarena Bennett - Business Reporter

was during the 1960s and 70s. “We’ve rebuilt our corporate membership but if it’s one complaint I have it’s that we don’t have enough corporates playing golf. Days gone by, Wednesdays were very popular days for various executives especially the...

Published:Friday | October 18, 2019 | 12:16 AMKarena Bennett - Business Reporter

Adam & Eve Day Spa and Salon is looking to grow its customer base by more than a third once it moves into its new home in Kingston...

Published:Sunday | October 13, 2019 | 5:28 AMKarena Bennett - Business Reporter

Chas E. Ramson Limited is investing $375 million in warehouse expansion for which construction has already broken ground on lands owned by the distribution company at its operating base in Kingston. The new warehouse space that Ramson aims to...

Published:Friday | October 11, 2019 | 12:16 AMKarena Bennett - Business Reporter

The measures mandated by the Financial Action Task Force, FATF, and its regional arm, while meant to keep constrain illicit financing of terrorists and other schemes, is now putting undue burden on non-profit operations that could drive then into...

Published:Friday | October 11, 2019 | 12:12 AMKarena Bennett - Business Reporter

AML/CFT CONFERENCE: Jamaica is set to tighten oversight of money flows by year end through amendments to the Proceeds to Organised Crime Act and the Terrorist Prevention Act. However, the timeline for the passage of legislation to police...

Published:Friday | October 4, 2019 | 12:20 AMKarena Bennett - Business Reporter

A dvantage General Insurance Company reported record premium income of $5.8 billion last year, its best showing in reviewed accounts dating back a dozen years. But it’s been six years since the general insurer first broke into the $5-billion...

Published:Sunday | September 29, 2019 | 12:26 AMKarena Bennett - Business Reporter

The annual customs seminar staged by the Jamaica Chamber of Commerce this year placed its spotlight on Jamaica’s emerging creative economy, including the treatment of imported fine art. The issue resolves around the opaque methods used to value art...

Published:Friday | September 27, 2019 | 12:31 AMKarena Bennett - Business Reporter

Adventure tour company Mystic Mountain is close to completing the US$570-million upgrade it began last year, and is now set for unveiling in December. The expansion project was facilitated by a $1.1-billion bond issued by the company last October...

Published:Sunday | September 22, 2019 | 12:33 AMKarena Bennett - Business Reporter

Advanced Integrated Systems Limited, (AIS), a tech solution company formed by Douglas Hallsall some 30 years, is finalising plans for the soft launch of an e-commerce platform called Q-Mall next month. The platform’s debut in October is expected...

Published:Sunday | September 15, 2019 | 12:14 AMKarena Bennett - Business Reporter

Distribution company Derrimon Trading is exploring a shopping experience that goes beyond customers clicking on grocery items from the comfort of their living rooms. The company, which operates two grocery businesses, Sampars and Select, reported...

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