Wed | Jun 23, 2021

Stories by Karena Bennett/Business Reporter

Published:Wednesday | June 16, 2021 | 12:07 AMKarena Bennett/Business Reporter

The pandemic has led to plummeting sales for drink products aimed at bargain consumers, and may very well have been the last straw that drove Spike Industries into closing down the bag-drink manufacturing division of its beverage business. The...

Published:Wednesday | June 9, 2021 | 12:06 AMKarena Bennett/Business Reporter

Marcus James, founder of microfinancing company Access Financial Services Limited, AFS, has assumed the role of executive chairman, while his prior job as CEO goes to Frederick Williams. The changes, which took effect on June 3, sees James...

Published:Wednesday | June 9, 2021 | 12:05 AMKarena Bennett/Business Reporter

Lasco, which trades in food items and other consumer goods, says consumers should brace for price increases over the coming months, but like one of its largest competitors, Grace Foods, adds that it’s trying to keep price hikes at a minimum by...

Published:Wednesday | June 2, 2021 | 12:08 AMKarena Bennett/Business Reporter

Entertainment company KLE Group’s losses grew sixfold under the pandemic, but the operator of the Usain Bolt Tracks...

Published:Wednesday | May 26, 2021 | 12:11 AMKarena Bennett/Business Reporter

Two financial backers have pumped funds into Khary Robinson’s investment holding company, Norbrook Equity Partners Limited, totalling US$17.5 million ($2.6 billion), which he will use to finance new acquisitions and expansion plans. Separately,...

Published:Wednesday | May 26, 2021 | 12:10 AMKarena Bennett/Business Reporter

Consolidated Bakeries Jamaica Limited, which trades as Purity Bakery, is back in a profitable position after posting losses for the last two quarters of 2020 and a full-year loss of more than $14 million. The baking company made a small profit of $...

Published:Wednesday | May 19, 2021 | 12:06 AMKarena Bennett/Business Reporter

Marine park operator Dolphin Cove Limited is banking on a resurgence of foreign visitors, with a yen for adventure, to paddle its way back to profitability in the June quarter, having seen hopeful signs in the period ending March. The company made...

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

After a rocky pandemic year, food packaging company Benlar seems to have finally found the right partner to scale the operation. Founder Craslyn Benjamin thought she had found her footing in 2019 after overcoming start-up woes, ranging from high...

Published:Wednesday | May 5, 2021 | 12:12 AMKarena Bennett/Business Reporter

Microlending firm Dolla Financial is floating a $200-million bond, amid plans for at least two acquisitions this year. Dolla has the option of upsizing the bond to $300 million, according the private placement memorandum obtained by the Financial...

Published:Wednesday | April 28, 2021 | 12:17 AMKarena Bennett/Business Reporter

Grand Hotel Excelsior Limited, the new owners of the former Morgan’s Harbour Hotel, has made minor upgrades to the property for its phased reopening amid the ongoing pandemic, but is still mulling over the plans to develop the property into a five-...

Published:Wednesday | March 31, 2021 | 12:06 AMKarena Bennett/Business Reporter

A year after developing an online appointment platform to ease wait times for clients processing less-than-container load cargo, Kingston Wharves Limited, KWL, has upgraded its services with the launch of an online portal that allows for...

Published:Wednesday | March 10, 2021 | 12:16 AMKarena Bennett/Business Reporter

GraceKennedy Limited has struck a deal with Scotia Insurance Caribbean Limited for the full takeover of Scotia Insurance Eastern Caribbean Limited, SIECL, subject to regulatory approvals. The cost of the transaction and its financing were not...

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...

Pages

Subscribe to Karena Bennett/Business Reporter