News Review: First British Airways Flight from London to Barbados 80% Full, Plus More Airline Announcements – Oct 25, 2020

Key Takeaway: NCBFG rebrands insurance arm. Transitions top exec to the group.

NCBFG

WTD -0.12% YTD -30.62%

Key Takeaway: The fall in Dominican GDP will be lower than the average for Latin America and the Caribbean, which the agency estimates at 8.1% for this year

IMF

Key Takeaway: ROC released their Q3 this week. YTD they are down compared to last year, but for the Q3 quarter they did pretty well

ROC

WTD -12.85% YTD -28.90%

Key Takeaway: The very impressive results from Seprod pushed the stock to a $70 high. The stock however tanked over the next two days 

SEP

WTD +2.55% YTD +16.75%

Key Takeaway: Seprod (which axed its loss making Sugar arm) reported strong results this week

SEP

WTD +2.55% YTD +16.75%

Key Takeaway: Renewable energy company Wigton Windfarm will definitely be returning to the equities market in the coming months to raise capital for its expansion plans, particularly in Jamaica.

Managing Director Earl Barrett, who made the disclosure, did not indicate the method to be used to source the necessary funds via the equities market, whether by a rights issue or through another public offer.

WIG

WTD +11.11% YTD -17.53%

Key Takeaway: Tropical announcing their plans for growth at their listing ceremony.

The plan for the future is to grow in the Caribbean by acquisitions of other battery storage type businesses and hopefully in the next 3-5 years more than double the size of the business.

TROPICAL

WTD +4.35% YTD -17.53%

Key Takeaway: One of T&T’s leading media companies announced job cuts.

The cut affects the Trinidad Express Newspaper, Caribbean Communications Network (CCN) TV6 and other subsidiaries under the parent company. The cuts stand to affect journalists, camera crews and other auxiliary staff. Marketing, sales and other departments were not spared. 

OCM

WTD -6.25% YTD -47.06%

Key Takeaway: Another acquisition on its way

LLA

Key Takeaway: Company suspended from the JSE for non-compliance

TOKI

WTD -6.25% YTD -47.06%

Key Takeaway: 38% upside forecasted by Barita

LASM

WTD -6.25% YTD -26.44%

Key Takeaway: Barita forecasting a $17+ price for WISYNCO, saying its about 11% undervalued

WISYNCO

WTD +1.74% YTD -29.94%

Key Takeaway: The Unemployment Rate for July 2020 was 12.6 per cent, which was 4.8 percentage points higher than the rate of 7.8 per cent for July 2019.

Key Takeaway: Cayman launching a similar digital nomad passport option like Barbados

Key Takeaway: Good that the government was able to complete its fundraising. Its US-Indexed Note that will mature in 2023

Key Takeaway: Another airline announcement… starting Nov 1

Key Takeaway: Potential buyers of some brands of new vehicles will be spared a 30 to 40 per cent price increase up to December 31, 2020, after Finance Minister Colm Imbert yesterday granted a grace period on the new taxes and import duty on private motorcars – essentially giving an early Christmas gift of a break from the new taxes until year’s end.

Key Takeaway: Year-round daily service from London Heathrow to Barbados on British Airways relaunched after a hiatus of more than 15 years. First flight 80% full!

Key Takeaway: It seems flying is the highlight of this week

Key Takeaway: More airlines announcing flights to the Caribbean