Thu | Feb 20, 2020

Stories by Neville Graham/Business Reporter

Published:Wednesday | February 19, 2020 | 12:22 AMNeville Graham/Business Reporter

In six months, Sygnus Credit Investments Limited has doubled its portfolio of investments, nearly half of which is deployed in Jamaica. The company’s has made 23 private credit investments valued at US$54.35 million to the period ending December...

Published:Wednesday | February 12, 2020 | 12:14 AMNeville Graham/Business Reporter

Newcomer Sygnus Capital and Sagicor Investments Jamaica have partnered to form a private equity firm that will be unveiled later tonight. The new outfit, called Sygnus Deneb Investments Limited, marks the two companies’ first-time entry into the...

Published:Wednesday | January 22, 2020 | 12:32 AMNeville Graham/Business Reporter

A major infrastructural programme about to be rolled out by the Government will tap into smart technology and be anchored on a rigorous maintenance regime. Prime Minister Andrew Holness yesterday unveiled the Greater Infrastructure Development...

Published:Friday | January 10, 2020 | 12:29 AMNeville Graham/Business Reporter

Petroleum marketing company RUBiS has seven days to come up with a full report on a fuel and chemical spill at its Rockfort facility. This comes after a January 7 incident where the roof of a water tank collapsed at the plant. The water tank is...

Published:Wednesday | January 8, 2020 | 12:23 AMNeville Graham/Business Reporter

Main Event Entertainment Group made 29 per cent more in revenue last year, just enough to give the events company a small boost at the bottom line, despite heavy spending. For year ending October 2019, Main Event’s sales were up by $402 million to...

Published:Wednesday | December 11, 2019 | 12:31 AMNeville Graham/Business Reporter

After two decades in the cigarette market, including six years as the top executive of Carreras, Michael Steele is moving on. But he’s not saying what comes next, except that he plans to stay in Jamaica and could end up in another corporate...

Published:Wednesday | December 4, 2019 | 12:10 AMNeville Graham/Business Reporter

The market for liquefied petroleum gas, LPG, as motoring fuel has a third player, Autogas Jamaica Limited, AJL, a St Ann-based company that has emerged from its testing phase and is now fully operational after two years. AJL both retrofits vehicles...

Published:Wednesday | November 20, 2019 | 12:15 AMNeville Graham/Business Reporter

Start-up distributor Bar Central has landed a ­contract with large conglomerate GraceKennedy (GK) worth $150 million over two years. The unlikely alliance will see two-year-old Bar Central distributing consumer items for 97-year-old GK in bars and...

Published:Wednesday | November 20, 2019 | 12:13 AMNeville Graham/Business Reporter

The adjusted age limit for imported pre-owned vehicles comes after years of lobbying by auto dealers, who say one of the immediate beneficiaries will be the agricultural sector. The older the unit that the market can procure for sale inside Jamaica...

Published:Wednesday | November 13, 2019 | 12:08 AMNeville Graham/Business Reporter

In five years or less, Convenient Brands, the holding company for food franchises controlled by the Mahfood family, plans to build out a number of convenience stores across the Caribbean under the Circle K brand. It’s starting in Jamaica, where two...

Published:Wednesday | October 9, 2019 | 12:07 AMNeville Graham/Business Reporter

Fresh from an aggressive foray into Costa Rica, investment upstart First Rock is targeting a year-end initial public offering to satisfy commitments to its private backers that the real estate company would go public. First Rock is also looking to...

Published:Wednesday | October 2, 2019 | 12:16 AMNeville Graham/Business Reporter

Lifestyle company Pulse Investments Limited, which expanded the hospitality operations at its New Kingston location to include accommodations, more than doubled profits at year ending June. Chairman Kingsley Cooper says Pulse, which operates a...

Published:Wednesday | September 25, 2019 | 12:21 AMNeville Graham/Business Reporter

Thomas Cook, which declared bankruptcy on Monday, was expected to fly 16 charters to Jamaica between now and March 2020, leaving the Ministry of Tourism scrambling to ensure that those vacations aren’t cancelled. “Tourism is a very resilient...

Published:Wednesday | July 31, 2019 | 12:08 AMNeville Graham/Business Reporter

The new owners of Fly Jamaica plan to return the airline to the sky in early September, supported by an expanded fleet of planes that are due for delivery between October and November 2019. Majority owner and CEO Glenn Logan says he and his...

Published:Wednesday | July 24, 2019 | 12:25 AMNeville Graham/Business Reporter

Yaad Man Petroleum has acquired property for $180 million, on which it plans to develop Jamaica’s largest service station. Miguel Smith, who co-founded Yaad Man with his wife, Tanya, says he plans to start construction on a Texaco-branded station...

Published:Wednesday | July 17, 2019 | 12:19 AMNeville Graham/Business Reporter

The initial public offering of shares in the Eppley Caribbean Property Fund Limited SCC-Value Fund has been extended by two weeks, but the fundraising target is so far unchanged at $4.5 billion. Eppley Caribbean Chairman Nicholas Scott says the...

Published:Wednesday | July 17, 2019 | 12:18 AMNeville Graham/Business Reporter

It used to be that importing a used motor vehicle from Japan would take two to five weeks, but importers are now faced with delays of up to five months. According to Andrew Jackson, vice-president of the Jamaica Used Car Dealers Association, JUCDA...

Published:Wednesday | July 10, 2019 | 12:15 AMNeville Graham/Business Reporter

The hearings into the winding-up of Arc Systems Limited for unpaid debt of nearly $26 million will resume in court Friday, but the status of the creditor, which itself has been placed in liquidation twice over the course of a decade, will be as...

Published:Wednesday | July 3, 2019 | 12:15 AMNeville Graham/Business Reporter

A new investment company that will trade in listed securities for its own gain is shelling out up to $5 million on a media campaign to distinguish itself from the pack when it approaches the junior stock market this summer in search of equity...

Published:Wednesday | June 26, 2019 | 12:17 AMNeville Graham/Business Reporter

Air conditioning company CAC 2000 Limited reversed course in the second quarter and was back in black, notwithstanding the continued business disruption from ongoing roadworks. Net profit of $40.76 million for the period ending April completely...

Published:Wednesday | June 12, 2019 | 12:15 AMNeville Graham/Business Reporter

Year-end profits at tobacco marketing company Carreras Limited were flat despite a mild uptick in revenues up to March 2019. The company made $3.5 billion in net profit, but that was down by $56.8 million or 1.6 per cent relative to the 2018 period...

Published:Wednesday | May 8, 2019 | 12:14 AMNeville Graham/Business Reporter

Jamaica need only prove that it can supply three-quarters of the market for condensed and evaporated to gain protection for manufacturers, but a top dairy producer, Seprod Limited, says it already has the capacity to serve 100 per cent of the...

Published:Wednesday | May 8, 2019 | 12:05 AMNeville Graham/Business Reporter

The manufacturing division of FosRich Company is up and running, making it Jamaica’s sole producer of PVC pipes, used as electrical conduits and drains. FosRich invested more than $150 million in equipment, training and market preparations, said...

Published:Wednesday | April 10, 2019 | 12:08 AMNeville Graham/Business Reporter

Junior market-listed company Everything Fresh experienced a steep decline in year-end profits, but Chairman Gregory Pullen says he is not fazed since he expects revenue growth and other real benefits to flow from an aggressive expansion. The...

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