Finance & Banking



Recent Items about: Finance & Banking

JMMB Preference Share Offer Oversubscribed

JMMB has advised the stock market that their recent 7.50% and 7.25% Cumulative Preference Share Offer was oversubscribed. They will make further disclosures soon.

More details to come.

Stocks / I.P.O.s

Singapore Based Pawnbroking, Jewellery & Watch Trading Company ‘MoneyMax’ Goes Public

Logo of Singapore Based Monemax Financial Services

Lately, a few persons have been searching for the MoneyMax Initial Public Offering (IPO). While we’re happy for these visitors, (and hope that one day we too can be listed 🙂 ), we realize that more than likely they would have been looking for information on the 5 year old pawn broking Singapore based company – MoneyMax Financial Services. They also do retail and trading of pre-owned jewellery and watches. Continue Reading

e-Update, Stocks / I.P.O.s

Market Update: Scotia Investments Jamaica Ltd Losing Its Senior Guru Dealmaker?

News coming out of the Jamaica Stock Exchange from Scotia Investments Jamaica Limited (SIJL) is that Mr. Berisford Grey, Senior Vice President, Origination & Capital Markets has resigned from SIJL effective August 9, 2013.

Wonder where he’s off to next?

Management & Movements

JMMB Ah Gwaan Good. Profit jumps 49%

Jamaica Money Market Brokers

JMMB has definitely been hitting the right notes of late. Plus, with the integration of the Capital and Credit Financial Group (CCFG) complete, they are now reporting significant growth in profits. Continue Reading

Earnings

Crime Taking A Toll? NCB to close Red Hills Road branch after 42 years

Crime taking a toll on business | Photo by Cali.org

The Jamaica Observer reports that the “National Commercial Bank (NCB) will shut down its Red Hills Road branch in March [2013] after more than four decades in operation on the St Andrew strip.”

This means “the community is now left without a commercial bank, with Scotiabank having left there in the 1990s, and more importantly another major employer.” Continue Reading

Business Strategy

Donna Duncan-Scott Resigns From 2 JMMB Boards

Jamaica Money Market Brokers Limited has advised that effective January 17, 2013 Mrs. Donna Duncan-Scott has resigned as a director of the Boards of JMMB Securities Limited and JMMB Insurance Brokers Limited.

Update: The Following is a part of the release on the JMMB website;

She continues to sit on the boards of Jamaica Money Market Brokers Ltd., Capital & Credit Merchant Bank Ltd., JMMB Puesto de Bolsa (the company’s subsidiary company in the Dominican Republic), and the Joan Duncan Foundation.

As the JMMB Group continues its expansion, Mrs. Duncan-Scott has chosen to resign from these two boards, so as to devote more substantive attention to her role as executive director of culture and human development, as the Group seeks to further build out its unique culture, which is built on love.

In other words they are saying, she still remains on the key boards and is also paying attention to her primary role, as director of culture and human development.

Management & Movements, Stocks / I.P.O.s

PROVEN Prospectus Released

Proven

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%. Continue Reading

Stocks / I.P.O.s

Lasco Financial buys Supreme Venture’s MoneyGram operations for J$38 million

Lasco Financial One Year Market Performance

Lasco Financial Services Limited (LFSL) has signed an agreement with Supreme Ventures Financial Services Limited (SVFSL) to take over the MoneyGram remittance operations of SVFSL. The Transaction has been approved by MoneyGram lnternational and is subject to the approval of the Bank of Jamaica. The SVFLS MoneyGram remittance services are offered through 88 locations including the Supreme Ventures regional retail centres, subagents and select Post Offices. The consideration for this deal is J$38 million and Lasco Financial expects that this transaction to be accretive to earnings. Continue Reading

Business Strategy