Sun | Jan 17, 2021

Stories by Neville Graham - Business Reporter

Published:Friday | January 15, 2021 | 12:12 AMNeville Graham - Business Reporter

Beer maker Red Stripe Jamaica is pulling back from its farming venture, Project Grow, after five years, reducing both the acreages of cassava under its direct control as well as those farmed under contract, and has already shuttered three farms....

Published:Sunday | January 10, 2021 | 12:08 AMNeville Graham - Business Reporter

Tea and other consumer products manufacturer, Jamaican Teas Limited, which has branched out into retail, real estate and other investments, is reporting a near $70-million loss on group activities for the year ending September 30, 2020. This is...

Published:Sunday | January 3, 2021 | 12:08 AMNeville Graham - Business Reporter

Another company has joined the growing list of firms seeking to cash in on the local electronic payment solutions business. Local tech firm Mobile Edge Solutions, MES, has launched what it is touting as a “robust and customisable” online platform,...

Published:Friday | January 1, 2021 | 12:14 AMNeville Graham - Business Reporter

Listed stockbroker and investment house Barita Investments Limited blew past the $2 billion mark in profits, its 2020 year-end financials show. For the year ending September 30, 2020, Barita posted net profits of $2.7 billion, just over $1 billion...

Published:Thursday | December 24, 2020 | 12:14 AMNeville Graham - Business Reporter

Listed coffee-processing company Salada is giving greater focus to growing its export business after experiencing a year-end profit decline. In its September 2020 year-end results, the company revealed that net profit was down nearly 22 per, at...

Published:Sunday | December 6, 2020 | 12:13 AMNeville Graham - Business Reporter

Jamaican businesses, large and small, need to get familiar with the acronym BEC. Business email compromise is a growing cyber menace under which attacks were growing 200 per cent up to two years ago, with 2020 levels set to surpass that, according...

Published:Sunday | November 29, 2020 | 12:10 AMNeville Graham - Business Reporter

The Jamaica Urban Transit Company, JUTC, is a step closer to having a diversified fleet after a near one-year pilot of running some buses on liquefied natural gas, or LNG. General Manager Paul Abrahams says the five buses in the pilot operating out...

Published:Sunday | November 22, 2020 | 8:12 AMNeville Graham - Business Reporter

Industrial Gases Limited, IGL, is sole local producer of medical-grade oxygen distributed to the health sector and food-grade nitrogen distributed mostly to drinks manufacturers or otherwise used in food processing, and continues to dominate the...

Published:Sunday | November 15, 2020 | 12:11 AMNeville Graham - Business Reporter

As Jamaica waits for an upgrade in its status as a potential hotspot for money laundering and terrorism financing, the senior legal counsel at the Bank of Jamaica, BOJ, is warning of possible sanctions. Celeste McCalla says Jamaica, which is...

Published:Friday | November 13, 2020 | 12:12 AMNeville Graham - Business Reporter

FosRich Company, the sole maker of PVC pipes in Jamaica, is about to add a new production line in order to keep up with demand. The plant, which is less than two years old, has seen a 240 per cent spike in sales in the past nine months amid the...

Published:Friday | October 30, 2020 | 12:15 AMNeville Graham - Business Reporter

Technology firm Amber Group has secured a deal with four other Caribbean countries on what it describes as a tech tool for travel authorisation and border management, which includes the capability to track suspect coronavirus cases in quarantine....

Published:Sunday | October 25, 2020 | 12:12 AMNeville Graham - Business Reporter

Renewable energy company Wigton Windfarm Limited intends to tap the market for funds to finance an ambitious expansion and diversification programme, but is timing the trigger. The wind farm is operating at near maximum levels in terms of equipment...

Published:Sunday | October 18, 2020 | 12:13 AMNeville Graham - Business Reporter

A confluence of events, not least of which was the outbreak of the coronavirus, has led to delays in the showroom and headquarters being developed in New Kingston by Magna Motors, the dealer for Hyundai vehicles. But some of the hold-up comes from...

Published:Friday | October 16, 2020 | 12:11 AMNeville Graham - Business Reporter

A push to digitise operations, accelerated by the full onset of the COVID-19 pandemic, has coincided with a number of exits from brokerage Mayberry Investments Limited. Three top managers and an assistant vice-president have exited the company...

Published:Friday | October 16, 2020 | 12:11 AMNeville Graham - Business Reporter

After posting a record $273-million profit last year, Jamaica’s third-largest credit union, First Heritage Co-operative, FHC, is grappling with a shrinking bottom line caused by the COVID-19 pandemic. The latest unaudited numbers coming out of FHC...

Published:Thursday | October 15, 2020 | 6:55 PMNeville Graham - Business Reporter

Pending regulatory approval, Billy Craig Insurance Brokers and Maritime General Insurance Brokers, MGI, will merge their operations to form BCMG Insurance Brokers Limited. Billy Craig Insurance CEO, William Craig, says the merger is a non-cash...

Published:Friday | October 9, 2020 | 12:11 AMNeville Graham - Business Reporter

Medical Disposables...

Published:Sunday | October 4, 2020 | 12:07 AMNeville Graham - Business Reporter

Gaming and lottery company Supreme Ventures Limited, SVL, has entered the South African market through partnership with a software company, which will distribute its most lucrative game, Cash Pot, in the country of around 59 million people. It is...

Published:Sunday | September 27, 2020 | 12:07 AMNeville Graham - Business Reporter

By the time Seprod Limited completes the build-out of its logistics centre, the company would have shelled out at least $2.5 billion to set up the distribution hub, according to CEO Richard Pandohie. The first tranche of $1 billion has already been...

Published:Friday | September 25, 2020 | 12:12 AMNeville Graham - Business Reporter

Holding true to its laid-back and permissive image, Hedonism II in Negril has added a therapeutic element to its product line in the form of a medical marijuana dispensary. The herb house, called HedoWeedo, had a soft opening on July 10, making...

Published:Thursday | September 24, 2020 | 6:18 PMNeville Graham - Business Reporter

Food marketing company Nestlé Jamaica has entered the powdered milk market under the Nestlé Everyday brand. The product will compete with two other brands of powdered milk on the market, Lasco LaSoy and Anchor. Nestlé had earlier this year re-...

Published:Sunday | September 20, 2020 | 6:33 AMNeville Graham - Business Reporter

General Insurance company IronRock is still a young buck in a market that it entered as a start-up over four years ago with a tech strategy for insurance delivery – a status its founders say has helped it to weather the pandemic, so far. The young...

Published:Friday | September 11, 2020 | 12:09 AMNeville Graham - Business Reporter

Private equity fund Portland JSX Limited is tempering expectations on the timeline for returns as the COVID-19 pandemic ravages regional businesses, saying as much as US$80 million of expected profit share may be delayed. Managing Partner Rob...

Published:Friday | September 4, 2020 | 12:21 AMNeville Graham - Business Reporter

Manufacturing and distribution company Wisynco Group Limited will be taking a shot at Jamaica’s beer market as distributor of Budweiser and other foreign brands owned by Anheuser-Busch InBev. This comes as a fourth-quarter dip in revenues put a...

Published:Friday | September 4, 2020 | 12:21 AMNeville Graham - Business Reporter

Shareholders have given the nod to PanJam Investment Limited’s plans for an additional public offering of shares, APO, through which the company aims to raise US$100 million ($15 billion). The vote on Tuesday clears the way for the property and...

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