Trading

19 Holborn Road
Kingston 10, Jamaica
Telephone (876) 926-4319
(876) 960-1570
Fax (876) 960-1571

MVL Home
Brokerage
Expert Advice
Investors Like You
Years of Experience
The Bigger Picture
Performance Insights
Services
Financial Planning
Bonds
Commodities
Investment Trusts
Mutual Funds
Retirement
Stocks

How Stocks Trade
Types of Stocks
Exchange-traded Products
Trading
Market Summary
Online trading
FX
About MVL
About Us
Our Pledge
Our Team
Directors
News
MVL Concierge
Help Desk Desktop
Help Desk Mobile
My.MVL

• • >>>>>> • • >>>>>> •••••• •••••• •••••• •••••• The World Bank has approved US$70 million in budget support financing to Jamaica to support the country's reform programme and efforts to strengthen and accelerate recent gains in fiscal consolidation and sustainable growth. •••••• A foreign developer has struck a deal with Dolphin Cove Limited to acquire a 23-acre property that it owns, and which houses one of its marine parks in Hanover, under a lease-to-purchase arrangement. The foreign company is expected to develop a hotel at the site. •••••• Listed company, Stanley Motta Limited has received a big boost with the acquisition of special economic zone (SEZ) status. This achievement, which was confirmed earlier last month will provide significant benefits for the company going forward. In Jamaica, SEZs are being established to attract foreign direct investment, alleviate large-scale unemployment, and develop and diversify the economy. •••••• Multipurpose port terminal operator, Kingston Wharves Limited (KWL), on Friday last reported an after-tax surplus of $2.6 billion for the financial year ended December 31, 2019. This represented a 34 per cent or $655 million increase when compared with the previous corresponding period. The KWL Group recorded revenues of $7.9 billion for the period under review, an increase of $645 million over the corresponding period in 2018. •••••• Finance and the Public Service Minister Dr Nigel Clarke has said that there have been no cancellations of bookings for tourist arrivals from North America so far as a result of the coronavirus. •••••• Transjamaican Highway IPO Now Closed. •••••• A group of Mexican developers through what will be the Sugarcane Bay US billion-dollar investment project has officially broken ground to add about 4,800 more rooms to the hotel industry, aiming also to become a new landmark destination for luxury travel in the tourism sector. •••••• TransJamaican Highway (TJH) initial public offer (IPO) was upsized by the offer on an additional two billion shares. •••••• The Bank of Jamaica (BoJ) says it will keep its policy rates unchanged while targeting slightly higher inflation to spur on the economy •••••• The Development Bank of Jamaica (DBJ) is issuing a call for proposal (CFP) to local and international fund managers with the capability of raising matching private capital and undertaking investments in Jamaica's small- and medium-sized enterprises (SME). •••••• Insurance Company of the West Indies, ICWI, is planning its launch in a 10th market later this year. ICWI officially opened its ninth office in Dominica last month after the acquisition of the booker business of general insurance company, First Domestic. •••••• Proven Investments Limited (PROVEN) has advised that a dividend payment of US$0.0032 per share was declared at PROVEN’s Board meeting, held on February 7, 2020. Ordinary shareholders who have requested payment in Jamaican Dollars will receive the equivalent of JA$0.4506 per share. This dividend payment will be made to all ordinary shareholders on record as at February 24, 2020 and will be paid on March 6, 2020. •••••• The Government of Jamaica will come to market with an initial public offering for the near 20 per cent stake it owns in power utility Jamaica Public Service Company Limited, shortly after the IPO for toll road concessionaire TransJamaican Highway, which is expected to list in February. •••••• The GraceKennedy Group today announced plans to acquire up to 80 per cent of shares in KEY Insurance. The details are still being finalised but GK plans to use the entity to strengthen and expand its Financial Division which includes GK General Insurance Company. •••••• Caribbean Cream Limited, manufacturers of Kremi ice cream on Tuesday (January 14) reported an after-tax profit of $43.4 million for the nine months ended November 30, 2019. •••••• Natural gas supplier New Fortress Energy, NFE, has secured US$800 million of financing to back its expansion programme and repay other debt. The credit agreement with Apollo Capital Management runs for three years, NFE said in a market filing this week. •••••• Eleven stocks made triple-digit gains on the Jamaica Stock Exchange, JSE, last year, and the market racked up a new record having topped 500,000 points for the first time. Market analysts expect stocks to maintain vibrancy in 2020, given pending and expected listings and investor interest in equities. •••••• ICD Group Holdings Limited has acquired the remaining 50 per cent shareholding in sister companies Advantage Communications Inc, ACI, and ADV Communications Jamaica Limited, and now has full control of the business process outsourcing operations. •••••• Hotel company Jartena Properties Limited has bought Montego Bay’s 84-room Wexford Hotel, which had been on the market for some time. The new owner, which also owns and operates the Altamont Hotel in Kingston and Altamont West in Montego Bay, plans to reopen the now-shuttered Wexford property by April under the name Hotel 39, after significant upgrading. •••••• JMMB Securities Limited lowered its rating on shares of Caribbean Cement Company, CCC, and also set a new target price of $67.05. That’s more than 15 per cent lower than its average price in January but higher than JMMB’s previous target set last February at $41.81. •••••• Pulse Investments Limited has raised $250 million through a global note issue in December which it will use to complete the Villa Ronai suites expansion project, and cut a pathway into the residential real estate market •••••• The International Monetary Fund (IMF) is maintaining its prediction for Jamaica to achieve a 2.25 per cent growth to gross domestic product (GDP) within the medium term — a position reiterated following the Statistical Institute's (STATIN) latest report which noted a 0.6 per cent growth for the third quarter of 2019. •••••• Jamaica National Group, the largest mortgage lender in the local private market, has landed a banking licence in the United Kingdom that will both allow it do business there and provide cross-border banking services to group members. •••••• Jamaica Stock Exchange annual Regional Investments and Capital Markets Conference — Winds of Change: Capital Innovation & Technology, January 21-23, at Jamaica Pegasus hotel, 81 Knutsford Boulevard, New Kingston. •••••• Kingston Properties Limited (KPREIT) has begun deploying the proceeds of its just-completed $2-billion rights issue with the acquisition of eight warehouse units in the Cayman Islands, valued at just under US$2 million. •••••• The UK-based company Tullow Oil on Thursday revealed that it has discovered a higher quality of crude oil offshore Guyana, in the Carapa-1 well within the Kanuku licence. •••••• Eppley Caribbean Property Fund Limited SSC – Value Fund (CPFV), a publicly listed fund in Barbados and Jamaica, has announced its intention to buys back its shares from the market. •••••• Paymaster Jamaica has joined the list of local remittance partners for Xoom through a collaboration with global bill-payment platform provider Paykii. Xoom, which is owned by American company PayPal, has operated in Jamaica for at least 15 years through its partnership with JMMB Money Transfer Limited and Victoria Mutual Building Society. Combined, the remittance company claims a larger network than Western Union’s 140 agents. •••••• The US$452-million Kingston port modernisation project nearing completion, and it is already remaking Jamaica's major port.•••••• The Inter-American Development Bank (IDB) provided loans, amounting to US $215 million, while China Infrastructure Fund has given a loan commitment of US$50 million to Kingston Freeport Terminal Limited (KFTL) to modernise the port of Kingston.•••••• KFTL operates Kingston Container Terminal (KCT) under a 30-year lease concession to finance, expand, operate and maintain the port, which is one of the largest container and trans-shipment ports in the Caribbean. •••••• Chukka Caribbean Adventures is in the market for more than US$50 million of debt and equity to finance a range of projects that are intended to double the size of the business over the next six months to a year. Chukka Caribbean Adventures now operates 85 tour packages at 15 locations in Jamaica, Belize and the Turks and Caicos Islands, and plans to expand to the Cayman Islands, the Dominican Republic (DR), and Barbados •••••• The St Lucia Hotel and Tourism Association (SLHTA) says the accommodation head tax will go into effect from April 1 next year. The tax will be charged to guests at check-in and it is designed to ease the impact of the tax on existing contract arrangements, ensure implementation, and supplement financial resources for the Tourism Authority for the next financial year. •••••• A less than anticipated take up of MPC Caribbean Clean Energy US$22.8 million rights issue has resulted in a second extension of the offer. The rights issue, which was extended by one week initially on December 16, is now slated to close on January 10, 2020. •••••• The Central Bank of The Bahamas (CBB) has introduced a digital version of the Bahamian dollar, starting with a pilot phase in Exuma and extending in the first half of 2020 to Abaco. The bank said that this initiative has acquired the name Project Sand Dollar, with the sand dollar also being the name assigned to the proposed central bank digital currency (CBDC). •••••• The Caribbean Development Bank (CDB) has approved a loan of US $75 million to assist the Barbadian Government's reform programme. •••••• Sagicor Manufacturing and Distribution Select Fund listed on the main market of the Jamaica Stock Exchange (JSE) on Wednesday, December 18, 2019, after successfully raising over $2.7 billion from over 5,000 applications. •••••• The US$452-million port modernisation project is moving towards completion in Kingston, and it is already remaking Jamaica's major port. The Inter-American Development Bank (IDB), based in Washington DC, is providing two loans, amounting to US $215 million, while China Infrastructure Fund has given a loan commitment of US$50 million to Kingston Freeport Terminal Limited (KFTL) for the project to modernise the port of Kingston. •••••• The Guyana government said the Barbados-based Shell Western Supply and Trading Limited has been selected as the company which will buy the country’s first three million barrels of oil as a result of the introductory phase of the Liza crude grade into the market. •••••• Telecommunications company Digicel bonds are roughly 30 per cent cheaper than in January 2019 as downgrades put pressure on prices. The discounted prices have created yields above 30 per cent. But the relatively high yield comes with concerns, according to Fitch, an American credit rating agency which downgraded the company two weeks ago. Fitch referenced weak liquidity, unsustainable capital structure, imminent refinancing risk and stagnant operational performance as reasons for the downgrade. •••••• Limners and Bards Limited (LAB) beat market expectations which pushed the stock higher. The market pushed the stock 6.5 per cent higher in the week since the release of its results. It now trades firmly above the psychological $3 barrier. It closed at $3.08 last week Thursday •••••• The Bank of Jamaica (BOJ) on Friday announced its decision to continue in holding the policy interest rate (the rate offered on overnight balances at the bank) unchanged at 0.50 per cent per annum, effective December 23, 2019. The decision to hold the policy rate unchanged, they said, is based on the view that monetary conditions are generally appropriate to support inflation remaining within the inflation target of 4.0 per cent to 6.0 per cent over the ensuing eight quarters. •••••• Sagicor Group is expecting to complete its high-end apartments The Azaleas by next year at Seymour Avenue in St Andrew. •••••• China said Monday it will reduce tariffs January 1 on more than 850 foreign products including frozen pork, asthma medications and some high-tech components to spur economic development. The announcement followed an interim trade agreement with Washington in a tariff war that has rattled financial markets. •••••• FirstRock Capital Holdings aims to raise roughly US$12.3 million in its in initial public offering (IPO) in January as part of plans to finance a series of real estate deals that includes acquiring the Shoppes at Rose Hall in St James. The amount will grow to US$18.5 million if the offer is upsized. •••••• Productive Business Solutions Limited (PBS), the distributor of Xerox printing products, has acquired the 100 per cent shareholding in El Salvador-based company, Hightech Corporation (HTC). Hightech Corporation offers business architecture, web development, consulting and IT support services throughout El Salvador’s banking, telecommunications system, government institutions and non-governmental organisations (NGOs). •••••• JANUARY 1, 2020 Tax Administration Jamaica introduces sixth phase of Mandatory e-Filing Requirement to incorporate Individual Income Tax Returns, including employed individuals, self-employed persons and pensioners. •••••• Fiat Chrysler Automobiles and PSA Peugeot on Wednesday signed a binding merger creating the world’s fourth-largest automaker. The new group will be led by PSA’s cost-cutting CEO Carlos Tavares, with Fiat Chrysler’s Chairman John Elkann as head of the board of the merged group. •••••• The Mexican-owned Pacific Airport Group, GAP, which operates Jamaica’s two international airports in Kingston and Montego Bay, plans to spend US$213 million over the next five years to upgrade the runways and buildings, but it will come with passengers paying more to use the facilities. •••••• Manufacturing and distribution conglomerate Wisynco Group has identified a property in Trelawny to house its second distribution outlet. Details about the new outlet are still being worked out between the property owner and company executives, according to Group CEO Andrew Mahfood, but expectations are that the western-based distribution centre should be incorporated into Wisynco’s operation next year. •••••• MPC Caribbean Clean Energy has extended its US$22.8 million rights issue by one week. It's now set to close on December 23. The offer will allow existing shareholders to buy two new shares for each original share held. •••••• Restaurants of Jamaica (ROJ) is ending the year on a high with the opening of three new restaurants, expanding its networks across the island to a total of 51 as the year comes to an end. •••••• Advertising and production company, The Limners and Bards Limited (LAB) on Monday reported that on closing its financial year, the company has achieved a 52 per cent year-on-year increase in net profits, climbing to $94.7 million when compared to $62.3 million in the previous year. •••••• Boeing is suspending production of the 737 Max. The ramifications are likely to affect both the aviation and manufacturing sectors. It could ultimately alter the country’s trade balance. •••••• Beverage maker Wisynco is projecting savings in its energy bill of US$1 million or J$135 million per year from the commissioning of its two-megawatt liquefied natural gas, LNG, plant in Lakes Pen, St Catherine. Wisynco already has the LNG engine on its property and has contracted New Fortress Energy for the gas installation and provision of the LNG. The plant is expected to become operational by February 2020. •••••• The annual sales and profit at Indies Pharma Limited grew by double digit for the listed firm, but its fourth-quarter earnings slowed due to lack of inventory in key products. Earnings per share increased to $0.11 cents per share from $0.09 in 2018. •••••• Dawgen Global, has acquired 12 per cent stake in SSL Growth Equity Limited, or SSL Group, a holding company registered in Barbados •••••• The special $600-million low cost credit facility from the Export-Import (EXIM) Bank for micro, small and medium enterprises (MSMEs) involved in export is now available for on-lending. •••••• The Inter-American Development Bank (IDB), on Friday at its 50th anniversary launch, held at its country offices in Kingston, signed a technical cooperation agreement with the Jamaica Stock Exchange (JSE) to provide support to the social service sector in the country. •••••• Boeing may cut production of the grounded 737 Max jet or temporarily stop making it after being told that its timetable for a return to the skies was not realistic •••••• Aircraft cargo and handler provider AJAS is going public and plans to list on the junior market of the Jamaica Stock Exchange, JSE, early in the new year. • • The owners hope to open the initial public offering of shares to investors before the year ends. The size of the equity raise was not disclosed, but junior market IPOs must fall within a band of $50 to $500 million. • • AJAS Limited manages 90 per cent of airline cargo and handling in the island. •••••• Fly Jamaica is seeking protection from creditors as it tries to restructure and stay in business or explore other options, such as a sale. That filing for bankruptcy protection with the Office of Insolvency was done on October 29, •••••• Moody's has changed Jamaica's outlook from positive to stable while upgrading the long-term issuer and senior unsecured ratings of the Government of Jamaica from B3 to B2. The senior unsecured shelf rating was upgraded from (P)B3 to (P)B2. •••••• Royal Bank of Canada (RBC) has entered into agreements to sell all banking operations in the Eastern Caribbean to a consortium of indigenous banks within the region. •••••• The transaction is subject to regulatory approval and other customary closing conditions, and is expected to be finalized over the next few months •••••• The Jamaica Public Service (JPS) has commissioned its highly anticipated Hybrid Energy Storage System (HESS), a facility which is said to be the first of its kind in the Caribbean and one of the largest battery- flywheel hybrids to be installed in the world this year. •••••• Kingston Wharves has bought out its joint-venture partner Stocks & Securities Limited, or SSL Jamaica, to take full control of a real estate investment trust through which they jointly owned warehousing assets on the port •••••• Delta Air Lines, the most profitable American carrier, expects profits and revenue to increase next year on sustained demand for air travel and stable prices for jet fuel. •••••• Glitches on JSE ticker! •••••• On Wednesday morning, the JSE ticker registered a trade of just over 1,270 units of Proven stock. It moved the price from US$0.30 to US$40. •••••• The JSE website also reflects zero value and no shares in issue for a multiplicity of stocks listed on the exchange – This situation that was unresolved up to Wednesday night. •••••• Cross-listed MPC Caribbean was valued at US$11.4 million on the USD side of the market, but at zero on the JMD side. Proven, which is also cross-listed, was valued at zero on both sides.•••••• That and other glitches have been ongoing since last week when the Jamaica Stock Exchange, JSE, began migrating to the Nasdaq system. •••••• •••••• Local soap producer Blue Power Group Limited will no longer be eligible for special treatment for its exports to the region under the Caricom trade treaty, based on a new ruling by the World Customs Organisation, WCO. •••••• Because the producer uses imported palm oil-based noodles as raw material, Blue Power has been found to be in breach of the rules of origin that make them eligible for preferential access to Caricom, that is, at zero tariff. •••••• Canadian Imperial Bank of Commerce, CIBC, has booked a CDN$135-million loss on the pending sale of its regional subsidiary FirstCaribbean International Bank. The Canadian bank explained that the cash-generating units of its FirstCaribbean assets are valued less than the historical book value. •••••• Jamaica Broilers Group Limited has scaled back operations in Haiti to mitigate losses there. •••••• A year ago, Haiti made six-month profit of $85 million for the poultry company but for the comparative period ending October 2019 that was all erased. Haiti booked a loss of $6 million in the current period. •••••• Jamaica is poised to generate US$3.7 billion in tourism earnings for 2019. •••••• The Development Bank of Jamaica (DBJ) will be on-lending $5 billion to micro, small and medium-sized enterprises (MSMEs) over the next 12 months. The undertaking will be facilitated under the Government’s revamped Credit Enhancement Facility (CEF). •••••• JMMB acquired 33.2 million shares of Sagicor Financial Company Limited on December 5 for the equivalent of US$250 million. The company which will trade on the Toronto Stock Exchange was known as Sagicor Financial Corporation up to its takeover by Alignvest of Canada •••••• Norbrook Equity Partners, the parent company of Express Fitness Limited, has sold 10 per cent of its stake in Express Fitness to financial services company Sagicor Investments Jamaica Limited. ••••••JMMBGL has acquired 33,213,764 common shares of Sagicor Financial Company Limited (Sagicor), upon the immediate conversion of 33,213,764 Class B shares of Alignvest Acquisition II Corporation (Alignvest) on a one for one basis•••••• JMMBGL now owns approximately 22.5% of the issued and outstanding common shares of Sagicor•••••• ••••••Jamaica Producers Group Limited (JP) has declared an interim capital distribution of JA$0.15 per share unit (less transfer tax at the applicable rate) payable to shareholders on record as at the close of business on December 20, 2019. The ex-dividend date is December 19, 2019. The date of payment is January 17, 2020•••••• •••••• Sagicor Select Funds on Wednesday announced the successful closure of an initial public offer (IPO) of shares for their Manufacturing and Distribution Fund, made available to the public last month. •••••• •••••• JMMB Group Limited (JMMBGL) Additional Public Offer of Ordinary Shares was oversubscribed by 92.5%, raising J$19.05 billion from investors in Jamaica and Trinidad & Tobago. •••••• •••••• For year ending September 2019, Honey Bun grew revenue by 17 per cent and profit by 72 per cent. •••••• •••••• Scotia Group Jamaica Limited, SGJ, made $13.2 billion in annual profit, reflecting modest improvement of three per cent over the previous year, as two of its five segments recorded a dip in earnings. •••••• The result was still a new high in earnings for the No. 2 banking group, whose profit per share rose to $4.24 at year ending October, versus $4.10 a year earlier. •••••• •••••• ••••••Scotia Group Jamaica Limited (SGJ) has advised that the Board of Directors of the Company, passed the following resolution on December 4, 2019••••••“Be it resolved that a final dividend of $0.55 be paid on each stock unit of the Company to stockholders on record as at the close of business on December 24, 2019 and that the same be payable on January 15, 2020” ••••••The ex-dividend date will be December 23, 2019•••••• •••••• •••••• The market for liquefied petroleum gas, LPG, as motoring fuel has a third player, Autogas Jamaica Limited, AJL, a St Ann-based company that has emerged from its testing phase and is now fully operational after two years. •••••• AJL both retrofits vehicles to run on LPG and supplies them with gas. •••••• Sygnus Credit Investments Limited is aiming to raise US$35 million from the market by March next year, to take advantage of a series of deals lined up for financing, says CEO Berisford Grey •••••• •••••• Patrick Hylton has taken over as chairman of National Commercial Bank Jamaica Limited, NCBJ, the flagship company in the NCB Financial Group. •••••• Hylton, who is also president and CEO of NCB Financial Group Limited, replaces Michael Lee-Chin as chairman of the commercial bank. •••••• Lee-Chin, who is the principal owner of NCB Financial Group, will remain on the commercial bank’s board as a director, and will also remain chairman of the parent company and Jamaica’s top banking conglomerate NCB Financial Group, whose assets now top $1.6 trillion. •••••• •••••• GK Investments has taken a 50 per cent stake in Pelican Power Limited, the company that owns the gas-fired power plant that provides electricity to the Mona campus of The University of the West Indies, UWI Mona, in Kingston. •••••• The seven-megawatt plant, which can either be fired by liquified natural gas or liquid petroleum gas, was developed at a cost of over US$10 million, the financing for which was structured two years ago by GK Investments Limited, and comprised a mix of debt and equity •••••• •••••• The shelving of plans to acquire the insurance arm of Scotiabank in Jamaica will reduce Sagicor Financial Corporation’s annual expected earnings by US$15 million in financial year 2020. •••••• The dealmaker, Alignvest Corporation of Canada, indicated in its quarterly report that Sagicor and Alignvest are now targeting US$100 million in net income for the full-year from continuing operations •••••• •••••• Shares in Sagicor Financial Corporation, SFC, were suspended in three markets this week to fast-track two deals and the insurance company’s shares trading on the Toronto Stock Exchange, TSX. •••••• Small shareholders in SFC will get their holdings exchanged for shares in Alignvest Acquisition II, a blank-cheque company on the TSX that will become the vehicle for Sagicor Financial’s listing. That deal closes by December 6, according SFC’s filings on the London Stock Exchange, LSE. SFC also trades in Barbados and Trinidad.•••••• •••••• Stocks fell broadly on Wall Street Friday following a shortened trading session a day after the Thanksgiving holiday that left the market slightly below its record highs. •••••• Technology, healthcare and industrial stocks accounted for a big slice of the selling. Several big retailers also dragged the market lower as traders watched for signs that Black Friday got off to a strong start. Energy stocks took the heaviest losses as crude oil prices fell sharply. Bond yields rose. •••••• Even with the pullback, the S&P 500 notched its seventh weekly gain in eight weeks. The benchmark index also closed out November with its strongest monthly gain since June.•••••• •••••• •••••• ••••••AMG Packaging & Paper Company Limited (AMG) has declared a dividend of $0.02 per share ($10,237,885.70 in total) payable on January 15, 2020 to shareholders on record as at December 31, 2019. The ex-dividend date will be December 30, 2019 ••••••Jamaican Teas Limited (JAMT) has advised that at a meeting held on November 22, 2019, the Directors of the Company resolved that on December 20, 2019, JAMT will pay a capital distribution of three cents per share to shareholders on record as at December 6, 2019. The ex-dividend date will be December 5, 2019. The aggregate amount to be distributed will be $20,852,503.77•••••• •••••• ••••••Eppley Limited (EPLY) has declared an ordinary dividend of 3.72 cents ($0.0372) per share. Payment will be made on December 19, 2019 to shareholders on record as at December 5, 2019. The ex-dividend date will be December 4, 2019 •••••• ••••••Salada Foods Jamaica Limited (SALF) has declared an interim dividend of $0.70 per share payable on December 17, 2019 to shareholders on record as at December 3, 2019. The ex-dividend date will be December 2, 2019. •••••••••••• •••••••••••• Derrimon Trading Company Limited (DTL) has declared a dividend of $0.01 per share payable on December 9, 2019 to shareholders on record as at November 29, 2019. The ex-dividend date will be November 28, 2019.•••••• •••••• The Gilinski Group of Colombia will pay US$797 million for a two-thirds stake in CIBC FirstCaribbean, while Canadian bank CIBC will keep roughly one-quarter and the minority shareholders will hold the balance, according to statements from CIBC. ••••••Eppley Limited (EPLY) has advised that its Board of Directors will meet on Thursday, November 21, 2019, to consider the payment of an interim dividend to stockholders.•••••• PanJam Investment Limited and Portland Private, Equity will be taking a combined 30 per cent stake – 15 per cent each – Yoni Epstein’s company, Outsourcing Management Limited, which trades as itelBPO. Courier company Mailpac Group Limited, MGL, hopes to settle at least $263 million in debt to its parent company, Norbrook Equity Partners, through a $495 million initial public offering of shares on the junior stock market.•••••• ••••••General Accident Insurance Company Limited (GENAC) has declared a dividend of $0.13836 per share payable on December 13, 2019 to shareholders on record as at November 28, 2019. The ex-dividend date will be November 27, 2019••••••. Victoria Mutual Investments Limited (VMIL) reported on Wednesday an unaudited net profit of $244.61 million for its third quarter ended September 30, 2019, a 69 per cent increase when compared with the corresponding period last year.••••••. • •••••• Victoria Mutual Investments Limited (VMIL) has advised that at a meeting of its Board of Directors on November 13, 2019, a Resolution was passed approving the payment of a second interim dividend for 2019 of $0.16 per share, payable on December 11, 2019 to shareholders on record as at November 27, 2019. The ex-dividend date will be November 26, 2019. •••••• PanJam Investment Limited (PJAM) has advised that at a Board meeting held on November 12, 2019, the Directors adopted a Resolution to declare a fourth interim dividend for the year 2019 in the amount of 26.5 cents per stock unit. The dividend will be paid on December 18, 2019 to stockholders on record as at the close of business on November 27, 2019. The ex-dividend date will be November 26, 2019. •••••• Proven Investments Limited (PROVEN) has advised that a dividend of US$0.0056 per share was declared at a Board of Directors’ meeting held on November 8, 2019. Ordinary shareholders who have requested payment in Jamaican Dollars will receive the equivalent of JA$0.78786 per share. The dividend will be paid on December 6, 2019 to ordinary shareholders on record as at November 25, 2019. The ex-dividend date will be November 22, 2019. ) to close at 198.49 points.•••••• • • >>>>>> Honda has become the latest automaker to report weaker earnings as global demand softens. The company said Friday that its profit in the July-September fell 6.7 per cent from a year earlier to ¥196.5 billion (US$1.8 billion) as vehicle and motorcycle sales slipped. An unfavourable exchange rate also hurt earnings, the Tokyo-based automaker said. Honda Motor Company’s quarterly revenue declined 2.9 per cent to ¥3.7 trillion (US$34 billion) as sales declined in the United States, Japan, the rest of Asia and Europe. • • >>>>>> Stationery & Office Supplies Limited (SOS) advised that on November 7, 2019, its Board of Directors approved a dividend payment of eight cents ($0.08) per ordinary stock unit payable on Monday, December 9, 2019, to shareholders on record as at November 22, 2019. The ex-dividend date will be November 21, 2019. • • >>>>>> Stanley Motta Limited (SML) has advised that at a meeting of its Board of Directors held on November 8, 2019, an ordinary dividend of 12 cents per stock unit was declared. Payment will be made on December 20, 2019 to all shareholders on record as at November 22, 2019. The ex-dividend date will be November 21, 2019 • • >>>>>> Sagicor's president and chief executive Officer (CEO), Christopher Zacca has expressed elation at his company's performance within the third quarter of its financial year. Speaking at a media briefing held at Sagicor's Barbados Avenue offices in New Kingston, Zacca said that the outstanding performance of the group was largely attributable to efficient core business operations and strong sales growth in all segments. • • >>>>>> Sagicor Select Funds Limited is heading back to the market with an offer of shares in a new fund that will track the listed manufacturing and distribution companies that make up the M & D Index on the Jamaica Stock Exchange, JSE. The company is seeking to raise as much as $4 billion from the offer, which opens on November 20 and closes two weeks later on December 4. • • >>>>>> NCB Financial Group, plans to enter into new markets as part of its five-year growth aspirations. The bank, which has been growing through acquisition, racked up another year of record profit for the fiscal period ending September, performance that has pushed the stock to new highs. • • >>>>>> National Commercial Bank (NCB) Group is boasting of its $30.7 billion super profit made for its just ended financial year, while its assets have climbed to $1.6 trillion. NCB Group chief financial officer (CFO) and Deputy CEO Dennis Cohen, who made the announcement as he addressed Friday's Quarterly Investors Briefing, declared that 2019 was a pivotal year marked by significant milestones. These include the acquisition of a majority stake in Guardian Holdings Limited (GHL), a major financial services group providing life, health, property and casualty insurance, coupled with pensions and asset management services. • • >>>>>> Margaritaville (Turks) Limited (MTL) advised that its Directors have concluded on an interim dividend payment of US0.2230 cents per share for a total pay-out of US$150,525.00 to all shareholders on record as at November 22, 2019. It was proposed that the payment date be January 15, 2020. The ex-dividend date will be November 21, 2019. • • >>>>>> JMMB Group Limited (JMMBGL) advised that at a special meeting of its Board of Directors held on November 8, 2019, the Directors declared a dividend of Twenty-One Cents (21 cents) per ordinary share payable on December 20, 2019 to shareholders on record as at November 25, 2019. The ex-dividend date will be November 22, 2019. • • >>>>>> Jitters in the foreign exchange market, especially over the past three weeks, have pushed the value of the Jamaican dollar to a new low, with Jamaicans now having to shell out nearly $142 on average to buy one US dollar. • • >>>>>> GraceKennedy Group is reporting improved performance after its nine-month period accumulating net profits of $3.71 billion, representing a marginal increase of 0.1 per cent or $2.04 million over the prior year period. For the nine-month period, profit before other income was $2.88 billion, 30.2 per cent, or $668.1 million higher than that of the corresponding period last year, indicating an improved operating margin. The group also achieved revenues of $77.03 billion, representing an increase of $3.20 billion or 4.3 per cent compared to the similar period in 2018. • • >>>>>> FOSRICH has advised that the Company and Grace Kennedy (GK) Pension Scheme on November 5, 2019, signed a contract for financing FosRich’s expansion into a new warehousing facility 76 Molynes Road in Kingston, which will be owned by GK Pension Scheme • • >>>>>> DCOVE has declared an interim dividend of 20 cents per share payable on December 10, 2019 to shareholders on record as at November 26, 2019. The ex-dividend date will be November 25, 2019. • • >>>>>> • • >>>>>> PanJam Investment Limited (PJAM) has advised that a meeting of their Board of Directors scheduled for Thursday, November 12, 2019, the directors will consider the payment of a fourth interim dividend for the year 2019. • • >>>>>> Express Catering Limited (ECL) has advised that their directors have declared an interim dividend of US0.0245 cents per share for a total pay-out of US$401,188.00 to all shareholders on record as at November 22, 2019. It was proposed that the payment date be January 15, 2020. The ex-dividend date is November 21, 2019. • • >>>>>> Carreras Limited (CAR) has advised that at a meeting of their Board of Directors held on November 6, 2019, the directors declared an interim dividend of $0.17 per stock unit to be paid out of accumulated profits on December 12, 2019, to stockholders as shown on the Register of Members as at November 21, 2019 • • >>>>>> Jitters in the foreign exchange market, especially over the past three weeks, have pushed the value of the Jamaican dollar to a new low, with Jamaicans now having to shell out nearly $142 on average to buy one US dollar. • • >>>>>> Wisynco Group is reporting a surge in first-quarter profit on the back of a one-third increase in revenues that it attributes to the alliances cobbled with sugar and rum producer Worthy Park Estates and snack maker JP Snacks. • • >>>>>> SAGICOR SELECT Funds Limited is heading back to the market with an offer of shares in a new fund that will track the listed manufacturing and distribution companies that make up the M & D Index on the Jamaica Stock Exchange, JSE. The company is seeking to raise as much as $4 billion from the offer, which opens on November 20 and closes two weeks later on December 4. The first Sagicor Select fund, which tracks financial stocks on the JSE, raised $6.3 billion over the summer through the issue of Class B shares in the financial fund. The Sagicor Manufacturing and Distribution Select Fund IPO will offer 2.5 billion Class C redeemable voting and participating ordinary shares at $1 each, with the option of upsizing the offer by 1.5 billion shares. • • >>>>>> REGIONAL INSURER Guardian Holding Limited, GHL, has weathered the insurance claims faced in the wake of Hurricane Dorian. Guardian grew net premiums by seven per cent to TT$3.4 billion (US$501.5 million), while profit over nine months grew 17 per cent to TT$433 million (US$63.9 million). On a per-share-basis earnings grew from TT$1.60 to TT$1.86 • • >>>>>> Sagicor Select Funds Limited recorded net profit of $913 million, or $0.18 per share in just nine months of operation. • • >>>>>> Gaming company Supreme Ventures Limited (SVL) has implemented a new management structure in preparation for more aggressive expansion across the region. SVL announced that the change comes amid the streamlining of their group of companies in which President & CEO Ann-Dawn Young Sang will spearhead the regional implementation. She will be supported by the heads of two new operational divisions in SVL's wholly owned subsidiary, Prime Sports (Jamaica) Limited. • • >>>>>> Lasco Distributors Limited (LASD) has submitted its unaudited financial statements for the second quarter ended September 30, 2019. • • >>>>>> The Directors of the Company Sagicor Select Funds Limited has announced an IPO, which will be opened on November 20, 2019 and closed December 4, 2019 • • >>>>>> Jamaica Public Service Company Limited (JPS) has advised that Attorney-at-Law, Melanie Gilchrist, was appointed to the position of SVP – Legal Counsel & Corporate Secretary effective October 22, 2019 and Company Secretary effective Friday, November 1, 2019. • • >>>>>> Japanese technology company SoftBank Group Corp tumbled into losses in the last quarter as its earnings were hammered by money-losing investments, including a bailout for office-space sharing start-up WeWork. • • >>>>>> Canco Limited, a manufacturing operation based in Seaforth, St Thomas, is looking for at least a 10 per cent jump in revenues from a decision to diversify into co-packing products for both local and international businesses. • • >>>>>>

Trading Stocks

Growth potential

Income

Flexibility

Control