Construction materials company Arc Systems Limited, which was placed in receivership in May, has filed an appeal against the decision and also asked the Court of Appeal to issue a stay on its execution, pending the determination of the case. The...
Clients feeling short-changed when it comes to real estate valuations now have recourse through the newly formed disciplinary committee of the Real Estate Board of Jamaica, REB. The new committee started work in March on the insistence of Andrew...
Hemp company Organic Growth Holdings Inc, OGH, is diversifying into other crops to take advantage of demand. With two shipments of hemp oil, or cannabidiol, to the United States so far – one in April and the first in late 2020 – OGH is looking next...
Victoria Mutual Group, VM, is gunning for one million members by 2025, which would triple its current base, as part of a wider programme to transform and grow the 143-year-old institution and its markets. The group’s ambitions were laid out to...
General Accident Insurance Company gave itself two years to turn around its new Trinidad acquisition, but the pandemic has upended those plans, forcing the company to recalibrate its projections for Motor One that was initially acquired in...
The owners of Jamaica Teas Limited are planning a restructuring of the group to carve out the manufacturing unit, the main component of the business, as a stand-alone entity. The company would then float the manufacturing operation on the stock...
P ortland JSX Limited has cycled back into its investment phase, taking a small stake worth US$52,534 in a Colombian speciality food company on March 4, according to a disclosure in its newly released audited results. In keeping with its alliance...
Supreme Court judge Justice David Batts has placed Arc Systems Limited in receivership, granting the request of Exclusive Holidays of Elegance, a Montego Bay-based business controlled by Fred Smith, which is seeking to recover a debt. Arc System’s...
Amid the emergence of new rivals and an economy pressured by the pandemic, Supreme Ventures Limited, which trades as SVL Group, saw a decline in both net lottery sales revenue and group profit in the March quarter. But the company, whose dominance...
Finance Minister Dr Nigel Clarke is calling for more public-private partnerships to help Jamaica navigate away from what he calls the black hole of a looming regional debt crisis. Citing the latest IMF World Economic Outlook, released earlier this...
Preowned car dealer Jetcon Corporation, which turned to discount deals and inducements to get cars off their lots and grow its way back from losses sustained under the pandemic, says the strategy has paid off so far in increased market share. The...
Victoria Mutual Group has come through the first year of the pandemic with record earnings, and is looking to technology to build on the near 24 per cent profit growth recorded in 2020. The mortgage lender has launched a new fintech arm, VM...
W ith more than two thousand participating companies so far, the e-commerce platform that kept food companies and other retailers connected to customers during the three-week soft lockdown to bend the COVID curve, is soon to broaden its footprint...
Medicinal hemp producer Virtudes and Jamaican luxury skincare company Morgan’s Creek inked a partnership agreement that sees Virtudes becoming the main supplier of distilled cannabidiol, CBD, to the beauty brand. Morgan’s Creek recently moved into...
With a cassava farm fully planted and supply contracts in hand from small farmers, seafood processor Rainforest is looking to export bammies, a food item that is most often paired with fish. It’s just one of the non-seafood products that the...
One of the ‘founding fathers’ of Wisynco Group Limited, Joseph Mitchell Mahfood, passed away at his home in St Andrew about 3 a.m. on Thursday. He was 78. William Mahfood, chairman of the Wisynco...
The cost of freight has increased since the full onset of the COVID-19 pandemic, especially shipments from China that the business community says have tripled due to logistical bottlenecks. Trade out of China, and Asia generally, has been impacted...
M anufacturing and distribution company Seprod Limited got innovative during the pandemic, putting out new products, developing new partnerships, and reshaping aspects of the business. Having cauterised the loss-making side of the operation, sugar...
The mega US$1 billion mega-resort being developed by Karisma Hotels Group in the garden parish of St Ann is on hold, with the hotel company and Jamaican officials putting the blame for the delay on the coronavirus. Karisma aims to build 10 hotels...
NCB Financial Group’s profits fell 34 per cent in the December quarter, which Deputy CEO and group head of finance Dennis Cohen attributed to a fall-off in asset prices and compressed margins as revenues slowed. NCB Financial shed nearly $2 billion...
Supreme Court Justice David Batts has given himself nearly four months to decide whether to appoint a receiver to locate any assets and wind up Arc Systems Limited, after hearing final arguments o Wednesday in the years-long case brought by...
JSE CAPITAL MARKETS CONFERENCE Jamaican investors interested in the American financial market are being urged to be cautious in their investment decisions, even as recent market activity has been bullish. Gregory Fisher, Managing Director...
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....
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...