Construction company Tank-Weld is deepening its lumber operations through a new lumber treatment plant that’s expected to be commissioned by December. Tank-Weld is developing the treatment facility at Rio Bueno, Trelawny, at a cost of about $500...
Billed as a panoramic, ocean-view, luxury development, Ocean’s Edge should have been on the market from October 2021, but it’s currently on pause, and the delays and missed deadlines have left investors fuming. Andrew James, chairman of the Real...
Used car dealer Jetcon Corporation says loan rate hikes and scarce funds have slammed the brakes on cars moving off its lots, and pulled the auto trader into losses in the March quarter. Jetcon has issued its first-quarter results, although its...
The zero customs duty now applied to motor vehicles originating from within the European Union, is the culmination of a 10-year process to phase out the taxes, Finance Minister Nigel Clarke said on Wednesday in an exclusive interview with the...
Kingston Properties Limited is pulling back from a prime acquisition in the heart of the New Kingston business district. The real estate investor, also known as KPREIT, bought the 7 Dumfries Road property in early 2021 for just over US$1.25 million...
Renewal energy investor MPC Capital will transfer assets of MPC Caribbean Clean Energy Fund LLC to MPC Caribbean Clean Energy Limited, MPCCEL, under a restructuring of the German company’s regional holdings that’s subject to approval by...
Regency Petroleum Company has got the green light to set up a gas station in Kingston, which will open for business a year from now. The petrol station, intended for Spanish Town Road, adjacent to the Trench Town Fire Station, will be the company’s...
Tea and condiments manufacturer Jamaican Teas Limited is banking on flows from real estate sales to finance its factory expansion. Jamaican Teas CEO John Mahfood said the 30 apartments being developed by the company’s property arm at Belvedere in...
INSTITUTIONAL HOUSING company, 138 Student Living (138SL), is mum on timing but says the floating of an additional public offer (APO) should happen any day now. The company recently secured the go-ahead from shareholders to do the APO in a bid to...
DESPITE A strong nine-month performance, manufacturing and distribution company Paramount realised less profit for the third quarter ended February 2023. Third quarters are typically weaker at Paramount. The company has seen year-on-year declines...
BY JULY 1, 2023, Marathon Insurance Brokers, MIB, will have a new leader. Levar Smith, the present CEO, will have the title of president and CEO. Outgoing Executive Chairman Richard Burgher said the MIB board has already signed off on the...
TOURISM INDUSTRY food purveyor Caribbean Producers Jamaica (CPJ) has retired its largest chunk of long-term debt. In a late-Thursday notice to the Jamaica Stock Exchange (JSE), CPJ said the aggregate J$500 million in “bonds will be completely...
REPRESENTATIVES OF microfinance institutions, MFIs, or MCIs, are to sit down with regulators in the coming days to chart a way forward, as the MFIs transition to a regulated environment under the Microcredit Act passed in January 2021. The...
Quick service food company Mother’s Enterprise Limited is in expansion mode after being ravaged by the COVID-19 pandemic. The company took a big hit with the onset of the pandemic, which saw historically low sales driving revenues down to around 50...
The Bank of Jamaica, BOJ, has held its key interest rate steady at 7.0 per cent for a third time, a decision that businesses have welcomed. The central bank’s last rate increase was in November when the Monetary Policy Committee, MPC, had tacked on...
Jamaican Teas Limited has concluded the first phase of separating out its manufacturing arm from the rest of the group. But there are still hurdles for spin-off Caribbean Dream Foods Limited to clear before it officially launches into business. In...
The mystery surrounding Usain Bolt’s missing millions is appearing to deepen as two successive CEOs of the beleaguered Stocks and Securities Limited (SSL) had no knowledge that the retired athletics powerhouse was their client. Doubt is beginning...
The Jamaican general insurance industry is in for tough times in 2023, industry members say, citing the double whammy of having to increase rates to guarantee a better rate of return to reinsurance investors and getting reduced reinsurance cover,...
Jamaican manufacturers are singing a hopeful tune but with a note of caution as they look forward to 2023. It was a year in which producers were beset by the continued high cost of freight, which impacted the cost of goods, and logistical...
Financial services company MoneyMasters Limited is readying one of its companies, MoneyMasters Securities Limited, MMS, for listing on the Jamaica Stock Exchange, and expects to float the shares to market investors by the end of the year. The MMS...
With regulatory approval in hand since September, the Jamaica arm of CG United Insurance is looking to build its name recognition amid plans to grow its insurance business by at least one-tenth within the next year. The general insurer entered the...
Education and training, which was the primary area of iCreate’s focus when it went public nearly four three years ago, has now fallen to around 30 per cent of the business. But the digital media company and operator of iCreate Institute wants to...
Manpower & Maintenance Services Limited (MMS) is on the hunt for a CEO as the sanitation company founded by Audrey Hinchcliffe restructures and prepares for succession...
Lasco Manufacturing Limited has reactivated its stalled expansion programme at White Marl, St Catherine. Chairman of the Lasco group of companies, Lascelles Chin, said the project was in the works from three years ago but was delayed by the COVID-...
