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Hello, MoneyMax101 readers! Here’s your news review. A summary of some of the biggest local news stories this week.
Supreme Ventures Limited (SVL) – Private Placement Raising J$3 Billion @ 7%
Jamaica Stock Exchange / Jamaica – Wed Nov 04, 2020Key Takeaway: SVL raising funds to drive their growth. Matures in 2025
WTD +0.33% YTD -39.45%
Margaritaville (Turks) Limited (MTL) Unaudited Financial Statements for the Quarter ended August 31, 2020
Jamaica Stock Exchange / Jamaica – Mon Nov 02, 2020Key Takeaway: Over $400k loss for the latest quarter. Company received support from Parent company
WTD -13.33% YTD -63.89%
Abraham Smith promoted to CEO Digicel Trinidad & Tobago
Loop News / Trinidad and Tobago – Mon Nov 02, 2020Key Takeaway: T&T Digicel gets new CEO
Arrival of tourists to the Dom Rep falls by 75.9% in October
Dominican Today / Dominican Republic – Sat Nov 07, 2020Key Takeaway: The arrival of foreign tourists to the Dominican Republic experienced a drop of 75.9% last October, compared to the same month last year. Slight recovery, but still a huge fall
Supreme Ventures Limited (SVL) – Senior Management Appointment
Jamaica Stock Exchange / Jamaica – Thu Nov 05, 2020Key Takeaway: Major appointment. Lets hope this helps. Moving from NCBFG I believe.
WTD +0.33% YTD -39.45%
Indies Pharma targets US expansion
Jamaica Observer / Jamaica – Fri Nov 06, 2020Key Takeaway: Taking on a bigger market. Big move!
WTD -3.35% YTD -21.92%
Jamaica InvestmentMap ‘to improve transparency of public investments’
Loop News / Jamaica – Thu Nov 05, 2020Key Takeaway: Jamaica became the first country in the English-speaking Caribbean to join the IDB’s regional InvestmentMap initiative. Looking forward to how this can help us
TVJ Business Day: Moneymasters Launches Subsidiary Focusing On Real Estate & Infrastructure Investments – November 4 2020
Television Jamaica / Jamaica – Thu Nov 05, 2020Key Takeaway: Private placement opening Nov 12 – targeting J$1.5b
Planning to list on JSE within 6 months to a year
Their rationale: Bonds challenged, Stocks challenged. Real estate presents growth & stable income
Liberty Latin America Reports Q3 2020 Results – Business Wire
Businesswire.com / Panama – Wed Nov 04, 2020Key Takeaway: Jamaica and Panama boosts C&W results
We returned to net mobile subscriber additions in Q3 driven by Panama, where we are seeing signs of recovery as the country begins to open up and ease the relatively strict mobility restrictions that were in place, and Jamaica following targeted acquisition campaigns and improved churn management.
Jamaica continued to grow its fixed subscriber base, adding 19,100 RGUs in the quarter, driven by 9,900 broadband additions. This growth was supported by continued network investment as we added 19,400 new high-speed homes passed in the quarter.
Playa Hotels & Resorts N.V. Reports Third Quarter 2020 Results – GlobeNewswire
Globenewswire.com / Panama – Wed Nov 04, 2020Key Takeaway: Playa reporting a 62% drop in Jamaican occupancy for the three months ending September
CHUKKA Caribbean Adventures expands to Barbados
Jamaica Observer / Jamaica – Wed Nov 04, 2020Key Takeaway: Another acqusition for Chukka! They have further expanded their reach throughout the Caribbean to now include Barbados, the second Caribbean market that CHUKKA Caribbean has broken into in 2020, having entered the Dominican Republic earlier this year.
Arya Resorts announces two senior appointments
Jamaica Observer / Jamaica – Wed Nov 04, 2020Key Takeaway: The company will operate across several tourism-focused business units — the acquisition and/or management of hotel and resort properties; providing hospitality consultation services to include property turnarounds, service quality and regulatory aligned audits; team member training and recruitment; and hospitality supply chain management.
Belize takes T&T to CCJ over brown sugar imports – Trinidad & Tobago Express Newspapers
Trinidadexpress.com / Caribbean – Tue Nov 03, 2020Key Takeaway: Claims Trinidad and Tobago and St Kitts and Nevis have breached the Revised Treaty of Chaguaramas by failing to apply the Common External Tariff (CET) of 40 per cent on imports of brown sugar from Guatamela and Honduras.
Bahamas Central Bank Governor: Foreign currency inflows contracted by nearly one third over first nine months
EyeWitness News / Bahamas – Tue Nov 03, 2020Key Takeaway: Bahamas’ external reserves are currently near $2.3 billion according to the Central Bank, a one-third reduction over the first nine months of the year. The data reveals that inflows from foreign investments, tourism and other export earnings have fallen drastically
Jamaican insurer GENAC launches in T&T
Trinidadexpress.com / Caribbean – Mon Nov 02, 2020Key Takeaway: General Accident Insurance Trinidad and Tobago (GenAc TT) officially launched its rebranded operations yesterday, following its acquisition of a local insurance company last year.
WTD +8.15% YTD -8.45%
Liberty Latin America Completes Acquisition of AT&T’s Wireless and Wireline Operations in Puerto Rico and the U.S. Virgin Islands – Yahoo Finance
Finance.yahoo.com / Caribbean – Mon Nov 02, 2020Key Takeaway: Liberty Latin America Ltd. (“Liberty Latin America” or “LLA”) (NASDAQ: LILA and LILAK, OTC Link: LILAB) completed its acquisition of AT&T’s wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands on October 31, 2020, based on an enterprise value of $1.95 billion on a cash- and debt-free basis.
