Your Guide To Caribbean Financial Markets
Recent Items about: JSE Main Market
by loswl
Former managing director of the Jamaica Public Service Company (JPS) and energy consultant, Winston Hay, is a liquefied natural gas (LNG) atheist. That is, he really does not seem to believe that LNG will be the savior of our high-JPS-bills-paying worlds in the way the government is suggesting. Continue Reading
GraceKennedy is getting serious about being a Jamaican Global Consumer group (again). With the new CEO Don Wehby firmly in place, they have narrowed down their short term focus to: Having Grace Foods Brands sold in 3 continents – bringing … Continue reading
A Whole New World - Grace Readys to to FIGHT!
Angostura is keeping it in the family | by NAKANA
Angostura Holdings Limited could have brought in some new hotshot to take over the business when former Managing director and Chief executive officer Wayne Yip Choy retired. They did not take that route. This time, a family guy got the nod.
The company flung its support behind Robert Wong, one of its own members with over 20 years of experience with the company.
Continue Reading
by *Jeffrey*
Manager Director of the LIME in Jamaica, Garry Sinclair has rejected rumors that its parent company in the United Kingdom is pulling the plug on the local operation. He claims the company is “committed to Jamaica.” Continue Reading
Supreme Ventures Limited
Gaming and Lottery company Supreme Ventures Limited (SVL) has opted to delist from the Trinidad & Tobago Stock Exchange (TTSE), citing high costs and low trading volumes. Continue Reading
Ian Parsard, vice-president for energy and finance at Jamaica Broilers said the company will be lobbying the newly-elected government for the implementation of ‘wheeling of power’ as a means to help solve the rising cost of energy in the island.
In the electricity industry, wheeling of power refers to the transporting of electric power between generating facilities and transmission lines, from where it is moved to substations and then distributed to users.
GraceKennedy Group CEO, Don Wehby, has announced a number of management changes within the Group and that the changes are being made with a view to ensuring continued growth and profitability. Continue Reading
American energy firm GreenRG Management LLC, which last year got the go-ahead from Cabinet to set up business in Jamaica, said it will be investing some US$30 million (J$2.6 billion) to finance a plant to manufacture and assemble energy-efficient equipment.
GreenRG says its plan could help cut the demand for energy by about 20 per cent. Continue Reading
by Untitled blue
Your contractor has asked us to inform you that as much as he likes you, the 7 – 12 percent price increase on cement by Trinidad Cement Limited (TCL) means he has to charge you more.
Overall construction costs will increase by approximately 0.3 percent, if what TCL told Trinidad and Tobago Contractors Association (TTCA) president Mervyn Chin is correct. Continue Reading
by Sidious Sid
If you ever harbor any inclinations towards a life of ponzi scheming, if even for a second, you may want to consider the sad case of inmate 35017-183.
Once No. 205 on Forbes’ list of richest Americans. Once he had a flock of women whom he would take on private jet flights across the world. Once he wore expensive tailored suits and lived in luxury home. Once, he was addressed by all as Sir.
Now, everything has changed for the Texas financier who is now in jail, awaiting trial for allegedly operating a $7 billion Ponzi scheme from Stanford International Bank Ltd, his offshore bank on the Caribbean island of Antigua.
Now his life is devoid of all the luxurious amenities it had before. Nobody calls him “Sir,” and it seems all his friends have disappeared.
“Stanford’s defense is paid for with U.S. tax dollars and his 81-year-old mother is struggling to help.”
“I’ve maxed out my credit cards and I’m on my last few thousand dollars of savings,” said Sammie Stanford in a recent interview. (She has also had to reverse mortgage her house).
The man who once ran a business with operations in 140 countries has different priorities now. In a recent court hearing he could be heard complaining about being served a peanut butter sandwich on stale bread.
If convicted, Standford is expected to spend the rest of his life in jail.
by hunterseakerhk
Digicel may currently be the heavyweight champions of the Jamaican telecommunications market, but it is clear they will have to fight even harder to maintain their title now that LIME has partnered with the FTC to sue the company.
The Fair Trading Commission (FTC) is hoping to have the Jamaican courts reverse the terms of the Digcel-Claro merger. Continue Reading
Former Finance Minister Karen Nunez-Tesheira paints a picture of a company facing sure collapse in January 2009 as its executives held back “the complete story” of the state of affairs at CL Financial (CLF) to the PNM government.
She reveals that there was a view that the CLF meltdown would have threatened the stability of the country’s largest bank and would have had severe implications for companies with “tremendous exposure” such as First Citizens Bank Limited, Unit Trust Corporation, National Insurance Board and National Gas Company.
The December 29, 2011 election in Jamaica was a fiercely fought battle. This battle, fought for weeks leading up to the historic day involved much preparation and anxiety; and the results will never be forgotten. The People’s National Party delivered … Continue reading
On The Ground News Reports Election Coverage
The recent move by Jamaica Broilers to provide “free range chicken” is the kind of innovative, on the pulse thinking that many think a waste, but which really distinguishes a brand. How do you feel about niche marketing? Have you … Continue reading
Chicken Attack
The Jamaica Broilers Group is reporting an 8% increase in gross profits to $1.12 billion for its second quarter ended October 29, 2011. This is an increase from the $1.04 billion reported last year. The results were released December 12, … Continue reading
Jamaica Broilers Group
PROVEN Investments Limited is seeking to raise J$1 billion by offering for subscription 200,000,000 cumulative redeemable preference shares at a subscription price of J$5.00 per share. Dividends will be paid quarterly at 8%.
Proven
Jamaica Stock Exchange Market Review
The Jamaica Stock Exchange saw diminishing returns this week as all the indices declined.
For the period December 05, 2011 to December 09, 2011 JA$ market volume (excluding blocks) amounted to 35,285,018.00 units valued at $689,592,264.69. There were no block transactions for the period. US$ market volume (excluding blocks) amounted to 0.00 units valued at $0.00. There were no block transactions for the period. Continue Reading
Most of us would have seen when the market soared this week to almost J$1 billion in the value of shares traded in one day! That day was Tuesday Nov 22, 2011, and the major contributor was the National Commercial Bank Jamaica … Continue reading
NCB Oxford Road Tower
Jamaica Broilers Group Limited traded at its 52-week low of $5.75, today Thursday – November 24, 2011. This means, this is the lowest the stock has traded in a year.
JBG trades at 52-week low
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