Wed | Oct 23, 2019

Stories by Karena Bennett/Business Reporter

Published:Wednesday | October 16, 2019 | 1:30 AMKarena Bennett/Business Reporter

Lloyd W. Gray’s early working years were spent tending livestock as a government worker, but he dreamed of running his own company some day. So whatever time he got off the job would be invested in mapping out that business, an agro-processing...

Published:Wednesday | October 9, 2019 | 12:19 AMKarena Bennett/Business Reporter

Dennis Chung spent months discussing his transition from life insurance adviser to restaurant owner with his brother-in-law, Winston Lee. Lee, who had made a success out of his own restaurant, Golden Dragon, was persuasive about making the switch...

Published:Wednesday | October 2, 2019 | 12:11 AMKarena Bennett/Business Reporter

Medical Disposables and Supplies Limited, MDS, has set a plan in motion that it hopes will establish it as market leader in the medical distribution sector. The distributor of medical and consumer products reported on Tuesday that it developed and...

Published:Wednesday | September 25, 2019 | 12:10 AMKarena Bennett/Business Reporter

Lascelles Chin, executive chairman of the Lasco group of companies, disclosed plans on Monday to enter a new business venture by 2021 that will likely be financed from a $5 billion pool of funds available to the group. While tight-lipped on the...

Published:Wednesday | September 18, 2019 | 12:27 AMKarena Bennett/Business Reporter

Hyperion Equity Inc, a firm formed by Zachary Harding, has announced plans to acquire a minority stake in SSL Growth Equity Limited (Barbados), the parent company of Stocks and Securities Limited (SSL Jamaica). A Belize registered international...

Published:Wednesday | September 11, 2019 | 12:23 AMKarena Bennett/Business Reporter

Stanley Motta Limited, real estate developer of 58HWT in Kingston, has done away with any thought of using the General Accident building as a residential complex to increase earnings for the company. Instead, Chairman of Stanley Motta Melanie...

Published:Wednesday | August 28, 2019 | 12:26 AMKarena Bennett/Business Reporter

Jamaica has reported ­another contraction in cruise passenger arrivals for June 2019, but there is hope that the country should see increases in arrivals, given plans for the development of a new cruise berthing facility in George Town, Grand...

Published:Wednesday | August 21, 2019 | 12:23 AMKarena Bennett/Business Reporter

Port Royal has secured a second cruise ship to call at the port, but not until 2022. Crystal Cruises, an American cruise line based in Los Angeles, California, has listed the Port Royal cruise port as one of 219 destinations it will explore in 83...

Published:Wednesday | August 7, 2019 | 12:18 AMKarena Bennett/Business Reporter

United Cannabis Corporation (UCANN), the American company that has partnered with Lasco Manufacturing for the production of cannabis-infused water among other cannabis medicinals, has been issued a licence to cultivate cannabis through a company...

Published:Wednesday | July 31, 2019 | 12:14 AMKarena Bennett/Business Reporter

First Heritage Co-operative Credit Union, FHC, is going after a larger share of the micro market through its newest loan product, ‘One and Move’. The name mimics an expression commonly used by taxi operators across Jamaica, who use it as a rallying...

Published:Wednesday | July 31, 2019 | 12:06 AMKarena Bennett/Business Reporter

Coldwell Banker Realty Jamaica will redevelop and offer for lease a property acquired at the intersection of Harbour Street and West Street in Kingston for just over $40 million, says Construction Project Manager Peter Issa. The redevelopment,...

Published:Wednesday | July 24, 2019 | 12:35 AMKarena Bennett/Business Reporter

Minister of Finance Nigel Clarke will table orders in Parliament by September 30 that give effect to special and differential treatment for micro, small and medium-sized businesses, MSMEs, under the public procurement law. The regulations, once...

Published:Wednesday | July 24, 2019 | 12:08 AMKarena Bennett/Business Reporter

The building that once housed Globe Fine Furniture, formerly known as one of the largest assemblage of fine hand-crafted furniture in the Caribbean, has been placed on the market after sitting idly for several years. The property at 46 Constant...

Published:Wednesday | July 17, 2019 | 12:23 AMKarena Bennett/Business Reporter

AMG Packaging and Paper Company Limited has received approval from its board of directors to seek funding for the development of an adjoining property to its business place, which it acquired last year. The cardboard paper maker currently operates...

Published:Wednesday | July 10, 2019 | 12:08 AMKarena Bennett/Business Reporter

Caribbean Cream Limited, the ice cream manufacturer that trades as Kremi, has pumped US$500,000 (J$65 million) into a new production line for frozen novelties, ending a more-than-a-decade-old hiatus in Jamaica’s production of icicles. The latest...

Published:Wednesday | July 3, 2019 | 12:08 AMKarena Bennett/Business Reporter

CEAC Outsourcing Com­pany, a local entity in the business of labour recruitment, has diversified its business model to include a construction division that deals in the ­buildout of business spaces and housing development. The company hopes to...

Published:Wednesday | June 26, 2019 | 12:29 AMKarena Bennett/Business Reporter

Battery distributor Tropical Battery is pumping about $60 million into what will soon be its new headquarters at the Kingston 876 commercial complex in Ferry, Kingston. The new location – which spans 1.7 acre of which 25,000 square feet will be...

Published:Wednesday | June 26, 2019 | 12:22 AMKarena Bennett/Business Reporter

In what would be a first for a Jamaican credit union, shares issued to its members valuing $900 million are now targeted for listing on the Jamaica Stock Exchange, which could open up the possibility of non-members gaining ownership through regular...

Published:Wednesday | June 19, 2019 | 12:43 AMKarena Bennett/Business Reporter

Community & Workers of Jamaica Co-operative Credit Union Limited, C&WJCCU, has inked an agreement with state agency Rural Agricultural Development Authority, RADA, to create a loan product that is to finance crop yields...

Published:Wednesday | June 19, 2019 | 12:22 AMKarena Bennett/Business Reporter

Cascade Group Jamaica, the developer of the Kingston 876 commercial complex, is sifting through potential investors for lots that are expected to be ready for delivery in August. Infrastructure works at the 94-acre complex, which sits at the...

Published:Wednesday | June 19, 2019 | 12:19 AMKarena Bennett/Business Reporter

At least two fuel marketing companies have entered into discussions with Jamaica Public Service Company, JPS, to outfit their service stations with electric vehicle or EV charging stations. The power utility is rolling out a national pilot...

Published:Thursday | June 13, 2019 | 5:02 PMKarena Bennett/Business Reporter

  Construction of the long-planned Morant Bay Urban Centre in St Thomas, contracted to China Harbour Engineering Company, will be launched officially on June 26. The US$49.8 million ($6.5 billion) centre, spearheaded by the Factories...

Published:Wednesday | June 12, 2019 | 12:20 AMKarena Bennett/Business Reporter

Power utility Jamaica Public Service Company, JPS, will be installing electric vehicle, or EV, charging stations at ­selected locations later this year as it gears up for a run on the market amid expectations that global EV sales will hit 2.6...

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