Daily Brief: Sagicor parent hires Miller – Appointed Head of Treasury at Sagicor Financial – Jan 03, 2018

Hello, MoneyMax101 readers! Here’s your news update.

• Sagicor parent hires Miller – Appointed Head of Treasury at Sagicor Financial

  Gleaner – Business / Jamaica – Tue Jan 02, 2018

  Following an apparent disagreement over the direction of Sagicor Group Jamaica’s hotel portfolio, the financial conglomerate is saying tonight that the parties have settled on a new posting for Rohan Miller. Effective January 2, Miller, who was in charge of the hotel portfolio as president and chief executive officer of Sagicor Real Estate X Fund Limited, has been given a new job with Sagicor Financial Corporation, the Barbadian parent company for Sagicor Jamaica.

• Cable & Wireless Jamaica Ltd (CWJ) – Shareholder taking legal action

  Jamaica Stock Exchange / Jamaica – Tue Jan 02, 2018

  Eric Jason Abrahams, a shareholder of Cable & Wireless Jamaica Limited (CWJ), has filed an application in the Supreme Court in Jamaica against CWJ, requesting permission from the Court for him to bring what is known as a derivative action in a court in Florida, USA, in name of and on behalf of CWJ against its parent company, as well as some of CWJ’s past and present directors and who he terms shadow directors for losses sustained by CWJ which he says were caused by them acting in breach of their fiduciary duties, for the sole benefit of the parent company. By the proposed law suit, he seeks to recover against assets owned by the parent company in Florida.

• Main Event Entertainment Group Ltd – Audited Year End Results. Net Profit Up 79% to J$101m

  Jamaica Stock Exchange / Jamaica – Tue Jan 02, 2018

  Year end net profit almost doubles to J$101.0m from J$56.5m a year earlier. However the auditors have expressed concerns with their receivables. There was a $9.8m impairment provision and the auditors are expressing concern as trade receivables represents 22% of total assets.

• Liberty Latin America Completes Split-Off from Liberty Global

  Markets.businessinsider.com / Caribbean – Tue Jan 02, 2018

  Liberty Latin America Class A and Class C common shares are now trading on the NASDAQ Global Select Market. Liberty Latin America Ltd, a leading telecommunications company with operations in Chile, Puerto Rico, the Caribbean and other parts of Latin America, today announced the completion of its previously announced split-off from Liberty Global plc and its launch as an independent, publicly-traded company.