Fri | Jan 15, 2021

Stories by Neville Graham/Business Reporter

Published:Wednesday | January 13, 2021 | 12:21 AMNeville Graham/Business Reporter

Aloun Ndombet Assamba’s departure as CEO of Jamaica’s second-largest credit union, COK Sodality, was announced through a press advertisement, officially ending her second stint running the community bank on a reform agenda on December 31. But while...

Published:Wednesday | January 6, 2021 | 12:15 AMNeville Graham/Business Reporter

January 2020 would have opened with some amount of optimism about the Jamaican economy. At that time, the economy would have completed 19 consecutive quarters of growth before registering a flat three months to December 2019, as the country’s...

Published:Wednesday | December 30, 2020 | 12:08 AMNeville Graham/Business Reporter

Listed private credit outfit Sygnus Credit Investments Limited appears set to upsize to US$32 million, its US$22-million additional public offering of shares, or APO, which was extended by a week as the company sought to cast a wider net and hold...

Published:Wednesday | December 23, 2020 | 12:06 AMNeville Graham/Business Reporter

It’s been a rocky ride for listed training institute iCreate. On top of carrying sizeable accumulated losses that have grown over the past two years, the company has seen a dramatic revenue slide from $24.5 million in its first quarter this year to...

Published:Wednesday | December 2, 2020 | 12:06 AMNeville Graham/Business Reporter

KFC Jamaica opened a new outlet in Junction, St Elizabeth on Monday, a $200-million investment that brings the number of stores in the chain to 39, and ends a years-long wait by the community for the fast-food chain to set up shop there. The...

Published:Wednesday | November 25, 2020 | 12:19 AMNeville Graham/Business Reporter

Jamaican Teas Limited is adding 12,000 square feet of factory space, a $150-million investment that will give the company over 50 per cent more room to make non-tea products for its expanding market. CEO John Mahfood says construction is planned...

Published:Wednesday | November 18, 2020 | 12:05 AMNeville Graham/Business Reporter

FirstRock Capital Holdings liquidated some of its financial and real estate assets in the past quarter, which puts its arsenal at $1.2 billion of ‘dry powder’ ready to pump into new deals were any to arise. But for outfits out there looking for...

Published:Wednesday | November 11, 2020 | 12:11 AMNeville Graham/Business Reporter

After nearly years spent buying up betting rivals, Supreme Ventures Limited, SVL, has turned to the debt market for capital to pay the bill. The $3 billion it just raised via a bond placement will be booked in the fourth quarter ending December,...

Published:Thursday | October 29, 2020 | 12:19 AMNeville Graham/Business Reporter

Shareholders have given the nod to three special resolutions aimed at shoring up the RJRGLEANER Group’s future prospects, according to CEO Gary Allen. “We know that it may be a challenging environment, but we are digitally driven. We’re going to...

Published:Wednesday | October 28, 2020 | 12:06 AMNeville Graham/Business Reporter

Seprod Limited’s offloading of property in Kingston has netted $762 million, but even absent that gain, the company is on track towards a bumper year. Seprod sold the former Industrial Sales complex to the Epply Caribbean Property Value Fund, with...

Published:Wednesday | September 30, 2020 | 12:14 AMNeville Graham/Business Reporter

Shareholders on Tuesday gave the nod to boutique private equity firm Sygnus Credit Investments Limited to approach the stock markets for fresh capital by way of an additional public offering of shares, or APO. Sygnus Capital Chief Investment...

Published:Wednesday | September 16, 2020 | 12:08 AMNeville Graham/Business Reporter

Petroleum marketing company Yaadman is expanding into its own brand of service stations after a foray into liquid petroleum gas, LPG. CEO and co-founder of the company Miguel Smith Jr says he wants to set up five service stations across Jamaica....

Published:Wednesday | September 9, 2020 | 12:10 AMNeville Graham/Business Reporter

The CEO and managing director of Paramount Trading Jamaica Limited, by all accounts, will be the first boss of a stock market company to take a seat in Parliament as an elected official. Hugh Graham, who narrowly defeated ex-cop Newton Amos for the...

Published:Wednesday | August 19, 2020 | 12:25 AMNeville Graham/Business Reporter

Equipment rental and fleet management company Ameco Jamaica is now a part of the Stewart’s Automotive Group, which has rebranded it as JAMECO. The transaction was announced by the seller, American company Fluor, as a US$22 million deal in market...

Published:Wednesday | August 12, 2020 | 12:34 AMNeville Graham/Business Reporter

First Rock Capital Holdings, a two-year-old investment company with a bias towards real estate, scored a profit of US$1.25 million at half-year, despite stumbles in the rental market. The company reported reduced June quarter flows from its Costa...

Published:Wednesday | July 15, 2020 | 12:18 AMNeville Graham/Business Reporter

Despite end-of-year gains at the Caribbean’s largest wind energy company, Managing Director Earl Barrett is cautious about the future under the weight of the COVID-19 pandemic. The company is fairly certain of what its revenues will be, as it has...

Published:Wednesday | July 15, 2020 | 12:05 AMNeville Graham/Business Reporter

Jean-Marie Desulme, who came out of retirement to run the PVC manufacturing unit at FosRich at the end of February has exited the company following a review of the management structure. FosRich Company CEO Cecil Foster said the senior consultant,...

Published:Wednesday | May 13, 2020 | 12:10 AMNeville Graham/Business Reporter

Seprod Limited is finally rid of sugar, having wound up the Golden Grove subsidiary at a cost of nearly three-quarters of a billion dollars. The conglomerate had a bittersweet year as a result, with revenue climbing 45 per cent to $32.7 billion,...

Published:Monday | March 30, 2020 | 12:14 AMNeville Graham/Business Reporter

FINANCE AND the Public Service Minister Dr Nigel Clarke is defending the adequacy of the Government’s $25-billion stimulus to blunt the fallout sparked by the COVID-19 pandemic. Clarke said that the roll-out of initiatives was a historic and...

Published:Saturday | March 28, 2020 | 12:27 AMNeville Graham/Business Reporter

Finance and the Public Service Minister, Dr Nigel Clarke, says a re-engagement with the International Monetary Fund (IMF) is not on the cards at this time. He says while the Government has considered all its options in responding to the economic...

Published:Wednesday | March 25, 2020 | 12:25 AMNeville Graham/Business Reporter

Ann-Dawn Young Sang is out as president and CEO of Supreme Ventures Limited amid a reorganisation of the group that she led, and a prospective opening up of the market to new competition. Her departure comes two and a half years after she was...

Published:Saturday | March 21, 2020 | 12:21 AMNeville Graham/Business Reporter

A sophisticated cyberattack was unleashed on the JN Bank this week sending the financial institution’s cybersecurity team into defence mode as they took swift action to contain the effects of the malware and to identify the source of the onslaught...

Published:Saturday | March 14, 2020 | 12:00 AMNeville Graham/Business Reporter

The last two months of Jamaica’s winter tourist season are going cold, with arrivals expected to decline by 16 per cent for March as COVID-19 tightens its grip on global travel, says Tourism Minister Edmund Bartlett. April may be worse, Bartlett...

Published:Wednesday | March 11, 2020 | 12:09 AMNeville Graham/Business Reporter

The Jamaica Urban Transit Company (JUTC) and its energy partner are yet to do the analysis, but the bus company is already encouraged by the raw data from the pilot testing of natural gas as a fuel source for its fleet. New Fortress Energy, NFE,...

Published:Wednesday | March 4, 2020 | 12:19 AMNeville Graham/Business Reporter

Sterling Investments Limited, SIL, doubled profit from $53 million to $101 million last year, a record for the company that its operational head, Charles Ross, intends to better this year. It comes amid a doubling of foreign exchange earnings for...

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