Sun | Aug 25, 2019

Stories by Neville Graham/Business Reporter

Published:Wednesday | July 31, 2019 | 12:08 AMNeville Graham/Business Reporter

The new owners of Fly Jamaica plan to return the airline to the sky in early September, supported by an expanded fleet of planes that are due for delivery between October and November 2019. Majority owner and CEO Glenn Logan says he and his...

Published:Wednesday | July 24, 2019 | 12:25 AMNeville Graham/Business Reporter

Yaad Man Petroleum has acquired property for $180 million, on which it plans to develop Jamaica’s largest service station. Miguel Smith, who co-founded Yaad Man with his wife, Tanya, says he plans to start construction on a Texaco-branded station...

Published:Wednesday | July 17, 2019 | 12:19 AMNeville Graham/Business Reporter

The initial public offering of shares in the Eppley Caribbean Property Fund Limited SCC-Value Fund has been extended by two weeks, but the fundraising target is so far unchanged at $4.5 billion. Eppley Caribbean Chairman Nicholas Scott says the...

Published:Wednesday | July 17, 2019 | 12:18 AMNeville Graham/Business Reporter

It used to be that importing a used motor vehicle from Japan would take two to five weeks, but importers are now faced with delays of up to five months. According to Andrew Jackson, vice-president of the Jamaica Used Car Dealers Association, JUCDA...

Published:Wednesday | July 10, 2019 | 12:15 AMNeville Graham/Business Reporter

The hearings into the winding-up of Arc Systems Limited for unpaid debt of nearly $26 million will resume in court Friday, but the status of the creditor, which itself has been placed in liquidation twice over the course of a decade, will be as...

Published:Wednesday | July 3, 2019 | 12:15 AMNeville Graham/Business Reporter

A new investment company that will trade in listed securities for its own gain is shelling out up to $5 million on a media campaign to distinguish itself from the pack when it approaches the junior stock market this summer in search of equity...

Published:Wednesday | June 26, 2019 | 12:17 AMNeville Graham/Business Reporter

Air conditioning company CAC 2000 Limited reversed course in the second quarter and was back in black, notwithstanding the continued business disruption from ongoing roadworks. Net profit of $40.76 million for the period ending April completely...

Published:Wednesday | June 12, 2019 | 12:15 AMNeville Graham/Business Reporter

Year-end profits at tobacco marketing company Carreras Limited were flat despite a mild uptick in revenues up to March 2019. The company made $3.5 billion in net profit, but that was down by $56.8 million or 1.6 per cent relative to the 2018 period...

Published:Wednesday | May 8, 2019 | 12:14 AMNeville Graham/Business Reporter

Jamaica need only prove that it can supply three-quarters of the market for condensed and evaporated to gain protection for manufacturers, but a top dairy producer, Seprod Limited, says it already has the capacity to serve 100 per cent of the...

Published:Wednesday | May 8, 2019 | 12:05 AMNeville Graham/Business Reporter

The manufacturing division of FosRich Company is up and running, making it Jamaica’s sole producer of PVC pipes, used as electrical conduits and drains. FosRich invested more than $150 million in equipment, training and market preparations, said...

Published:Wednesday | April 10, 2019 | 12:08 AMNeville Graham/Business Reporter

Junior market-listed company Everything Fresh experienced a steep decline in year-end profits, but Chairman Gregory Pullen says he is not fazed since he expects revenue growth and other real benefits to flow from an aggressive expansion. The...

Published:Wednesday | March 27, 2019 | 12:15 AMNeville Graham/Business Reporter

Junior market listed company Paramount Trading is seeking to raise $300 million in a new issue of preference shares as it moves to put the finishing touches on an expansion programme which will put the company in a position to offer new products...

Published:Wednesday | March 20, 2019 | 12:06 AMNeville Graham/Business Reporter

In a deal said to be worth $4 billion, the owners of Jamaica Energy Partners (JEP) have snapped up rival energy outfit Jamaica Private Power Company (JPPC) giving the American parent control over 250 megawatts of domestic rated capacity. The...

Published:Wednesday | January 16, 2019 | 12:00 AMNeville Graham/Business Reporter

Financial investigations in Jamaica are receiving a boost with a programme aimed at training investigators in using the Proceeds of Crime Act to go after criminals' ill-gotten gains.Participants drawn from the Major Organised Crime and Anti-...

Published:Wednesday | December 12, 2018 | 12:00 AMNeville Graham/Business Reporter

A new company, Regency Petroleum Limited (RPL), has entered the domestic cooking-gas market, which brings the number of players to five.RPL's entry comes months behind the debut of Yaadman LPG, which is being marketed by GB Energy Jamaica, the...

Published:Wednesday | November 14, 2018 | 12:00 AMNeville Graham/Business Reporter

A foreign investor in Jamaica's largest solar farm under construction in Westmoreland will be floating shares on the Jamaica Stock Exchange, via an initial public offering likely by month-end, as part of a regional plan to raise US$200 million in...

Published:Wednesday | October 3, 2018 | 12:00 AMNeville Graham/Business Reporter

Paramount Trading's auditors have raised concerns in two areas, but the newer element relates to the absence of a clear partnership arrangement between Paramount and American oil blending firm Allegheny Petroleum.The other concern - the credit risk...

Published:Wednesday | September 12, 2018 | 12:02 AMNeville Graham/Business Reporter

Having finalised the acquisition Globe Finance Inc and its merger with Signia Financial Group Inc, GraceKennedy now says it has a vehicle to grow its financial footprint across the eastern Caribbean.Barbados-owned Signia is a tri-nation partnership...

Published:Wednesday | September 5, 2018 | 12:00 AMNeville Graham/Business Reporter

Instant coffee maker Salada Foods Jamaica,has expanded its coffee portfolio to a new line of ground and roasted beans as it positions for business from the hospitality sector.For now, Salada says it's looking for a modest increase in market share...

Published:Wednesday | August 29, 2018 | 12:00 AMNeville Graham/Business Reporter

The latest merger of credit union businesses passed its last major hurdle this month.But it has now emerged that the tie-up of the St Elizabeth Cooperative Credit Union, (SECCU), with Community...

Published:Wednesday | August 15, 2018 | 12:00 AMNeville Graham/Business Reporter

The new basket of goods and services that will be used to track the movement of the Consumer Price Index (CPI) will be ready by early 2020.Director general of the Statistical Institute of Jamaica (Statin), Carol Coy, says the agency's technicians...

Published:Wednesday | June 13, 2018 | 12:00 AMNeville Graham/Business Reporter

Managing Director Andrew Jackson estimates that the 100 vehicles on the lot at Global Auto would normally have incurred around $1.2 million in wharf charges."When we import cars and they have to sit on the wharves there is a daily storage charge,"...

Published:Wednesday | June 6, 2018 | 12:00 AMNeville Graham/Business Reporter

Agri-business outfit Jamaica Broilers Group has refinanced its debt and acquired the shareholding of descendants of the founders of the company rather than allowing the stocks to be placed on the market.A June 1, 2018 notice on the Jamaica Stock...

Published:Wednesday | May 30, 2018 | 12:00 AMNeville Graham/Business Reporter

It may not happen in the near term, but Supreme Ventures Limited CEO Ann-Dawn Young Sang is warning that the lottery may one day no longer be the mainstay of the gaming and entertainment company.The decline in the popularity of lottery games is a...

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