After posting its first loss in company history, Paramount Trading Jamaica Limited has embarked on a programme of retrenchment even as it continues headhunting fresh talent. CEO Hugh Graham said the dual track, that is, job separations amid new...
The Sygnus Group has set a target of US$1 billion in alternative assets under management, or AAUM, in another two to three years, says co-founder and Chief Investment Officer Jason Morris. The group currently has AAUM of US$500 million, separate...
Food service company Mother’s Enterprise Limited is ramping up its expansion programme through new partnerships with gas station operators, and others. After opening the doors to a new brand, Mother’s Café, at the UWI Hospital and a Mother’s...
Lighting and manufacturing company FosRich is aiming for five times greater revenue in three years. By the end of 2027, the company should have reached $22 billion in annual revenue, said CEO Cecil Foster, an effort the company has dubbed ‘Pinnacle...
MANUFACTURING AND distribution company Seprod is doubling down on its export strategy as it targets 30 per cent of its production base for exports by December 2025. In its just-released fourth-quarter report, the company scored big in 2024, with a...
The calling of margin loans associated with the execution of a mergers and acquisition strategy is at the heart of legal action by listed investment house VM Investments against digital media company iCreate. The ‘calling’ of a loan happens when a...
As digital media company iCreate prepares to head to court, CEO Tyrone Wilson is charging that his company was badly damaged by being wrongfully put into receivership. Wilson said iCreate is contending that Sagicor Investments Jamaica Limited’s...
Petroleum bunkering and marketing company West Indies Petroleum Limited (WIPL) is gunning for 35 per cent of the domestic petroleum market, up 10 percentage points from its current 25 per cent. CEO Charles Chambers is gung-ho about the projection,...
The troubled digital media company iCreate is to outline its next move at a special press conference this morning in the aftermath of it being placed in receivership by financial giant Sagicor. News came late Wednesday that iCreate, which was...
A ‘stick of weed’, enough to make a ‘ziggy’, made the difference on Wednesday afternoon, as cannabis industry support company Strain IQ topped all comers at the Jamaica Stock Exchange’s (JSE) regional investment conference pitch room. Co-founder...
Lasco Financial Services (LFS) has launched a two-pronged attack to gin up its business in the remittance market, a mainstay of the Junior Market-listed company’s operations. Using a marketing campaign dubbed ‘Simplify your life’, the company wants...
Hiring ads for fast-food company Mother’s have been popping up recently on multiple channels. Managing Director Sheldon Seymour says it is part of a non-stop expansion push that began with the change in ownership in May 2023. Mother’s refurbished...
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...
