Businessuite markets march 2016

1 Businessuite Markets March 2016


ContentEditorial

BUSINESSUITE EVENTS CALENDAR

FEATURETop 100 Caribbean CEOs

COMMENTARYLEADERSHIPInvest In A Good Board of Directors

TIME BASED PRODUCTIVITYA Dream Come True for “Type A” Executives - Schedule Auto Optimization BUSINESS ENVIRONMENTWinning Accounts vs. Winning Relationships

TRADINGThe Beginner’s Guide to the Stock Market

COVER STORYThe Jamaica Stock Exchange; Converting Entrepreneurs To US$ Millionaires!

MARKET WATCHJunior Market FocusFurther Afield

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Content DirectorKayla [email protected] Businessuite News Centre BNC

Publisher and Editor in ChiefAldo [email protected]

Subscription and [email protected]

Advertising [email protected]

Graphic Design and Layout Bonito [email protected]

Photo credits Sourced from the internet and contributed

Social MediaCLICK Digital Agency

Businessuite MarketsBusinessuite Markets provides both the inexperienced and seasoned investor with a central point for information and intelligence on where, what and how to find the best investment opportunities and ways to invest to achieve their financial goals. It’s current and forward looking, informative and incisive. A must read especially for inexperienced investors.

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ISBN NumberISSN 0799-4427

CREDITS


March 7-9

Venture Capital Jamaica and the Development Bank of Jamaica Venture Capital Conference 2016: The Power Of Smart CapitalVenue: The Jamaica Pegasus Hotel

EDITORIAL

Businessuite Events Calendar

Entrepreneurship, Doing Businessand the Top Performing Stock Exchangein the World

March 2016

Although it can be quite difficult to recall a time when doing business in Jamaica was so good that companies were making profits and workers felt well about their future, Jamaica has continued to make strides in its ease of doing business. This as the country maintained its position as the Best Country in the Caribbean to Do Business and the Jamaica Stock Exchange’s recognition by Bloomberg Magazine as the Top Performing Stock Exchange in the World for 2015.

While several businesses have benefitted from these improvements in the Jamaican business environment, several entrepreneurs and small business owners continue to struggle to make ends meet; begging the question, why do some businesses fail during tough times while others succeed?

Successful entrepreneurs, business owners and top-

level executives all appear to share three common characteristics that ultimately define their success: faith, focus and effort (FFE).

FaithWithout faith, you are finished before you start. First and foremost, people need to believe in themselves. If you do not believe in yourself, it is certain no one else ever will. You then need to have faith in a vision. Make sure you have a crystal clear business vision— because the lack of a business vision coupled with the absence of faith makes it that much harder to execute with focus and effort.

March 7 Grace Kennedy Limited Investor Briefing (online conference)

BOJ Quarterly Press ConferenceVenue: Bank of Jamaica Auditorium

As an entrepreneur, you also need faith in your team. Do you constantly complain about your team? When you have lost faith in your own team, I can guarantee they have lost faith in you. Identify each team member’s strength and think of ways to maximize these strengths to maintain and expand business opportunities always, but especially in challenging times.

FocusThere is an amazing power in focus. Just think of a laser beam— a narrowly focused beam of light that is so powerful it can cut through steel. In the realm of business, focus

has similar powers. What do we need to be focused on? Focus on customers. Pick one audience and own it. Become the innovative expert in your field. Become a strategic thinker and scan the marketplace so that you can react and respond with actions that can foster the sustainability of your business. Think local and global business development and harness the power of technology.

EffortHard work still matters. In this microwave world we live in, quick success and quick fixes have become the expectations. The only place success

Successful entrepreneurs, business owners and top-level executives all appear to share three common characteristics that ultimately define

their success: faith, focus and effort (FFE).

March 10 University Council of Jamaica Seminar for Principals/Presidents and ChairpersonsVenue: Mona Vistors Lodge & Conference Center Kingston 5

comes before work is in the dictionary. It does not matter how focused you are or how much faith you have in yourself, your vision or your team: you will not be successful without putting in consistent effort over time. Part of this effort must be a strategy for the enterprise. Too often as entrepreneurs and business owners, we are running the shop without a real plan, and this contributes to the “just making it from week to week” syndrome. Focused effort can help an enterprises’ ability to better weather the rough economic winds that are blowing all around us.

Yes, only the brave harbor thoughts of starting their own business in this environment, yet it’s the only way to ensure you have control over your future. With FFE, your success possibilities can be increased. BM

By Kayla Wright


March 10 Women in Energy Conference “ Doing Power Differently”Venue: The Jamaica Pegasus Hotel

March 11 First Caribbean International Bank Limited AGMVenue: Hilton Barbados Resort, St. Michael, Barbados

March 16 Jamaica Teas AGMVenue: Jamaica Pegasus Hotel

FEATURE

Top 100 Caribbean CEOs 2015Being a CEO is never easy. Beyond the need to motivate and lead your team effectively, there is also the added concern that should the business fail to perform, you are held accountable. However, too often CEOs are not recognized for the work they do.

The Businessuite Magazine Top 100 CEOs for the Caribbean for 2015 represents the best of the leaders who have delivered solid results and kept businesses in the Caribbean region growing. They are also recognized for being instrumental in the growth of Caribbean companies, as well as

for “creating jobs, maintaining profitability for their shareholders, applying corporate governance and transforming” the region.

To ensure we placed them all on the same base, all figures were converted to US$ based on the exchange rates for the respective central banks as at December 31st 2014. Qualifiers for the 2015 ranking of the Top 100 Caribbean CEOs were first determined using a minimum of US$500,000 in profits for the year in review. Based on this ranking, only 67 of the 100 companies qualified. The group was further ranked based on their %

growth in after tax profits 2014 over 2013. Of the 100, only 30 qualified based on this ranking.

In some instances the high percentage change represents risks that were taken by the company resulting in massive increases in profits. This is specifically so for Sagicor Financial, Guardian Holdings and Mayberry Investments which saw massive growth

Below, the Top 10 for the region are presented:

March 17 Minstry of Tourism and Entertainment Linkages Speed Networking EventVenue: Hilton RoseHall Resort and Spa

March 24 The Jamaican Association on Intellectual Disabilities AGMVenue: The Knutsford Court Hotel 16 Chelsea Avenue, Kingston 5

National Commercial Bank Jamaica Limited (NCBJ) AGMVenue: Spanish Court Hotel

March 25 Caribbean School of Sales Management “Getting the Competitive Edge” WorkshopVenue: College of Insurance and Professional Studies (CIPS)

Businessuite Top 100 Caribbean- US$ Profit after TaxRank2015

Chief Executive Offier (CEO)StockMarket

US$0002014

US $ 0002013

%Change

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Dodridge Miller

Ravi Tewari

Gary Peart

Cedric Blair

Krishnadath Ramlogan (GM)

Adrian Padmore (GM)

Christopher Barnes

Jean-Pierre du Coudray

Brian George

Anthony H. Ali,

Listed Company

Sagicor Financial Corporation

Guardian Holdings Limited

Mayberry Investments Limited

Desnoes & Geddes Limited

National Enterprises Limited

West India Biscuit Compant Limited

Gleaner Company

The West Indian Tobacco Company Limited

Supreme Ventures Limited

Goddard Enterprises Limited

BSE

TTSE

JSE

JSE

TTSE

BSE

JSE

TTSE

JSE

BSE

$73,938

$62,497

$6,332

$27,500

$62,720

$2,953

$1,580

$76,334

$8,110

$24,698

$2,081

$7,101

$962

$11,386

$31,313

$1,502

$807

$42,239

$4,536

$17,166

3453.33%

780.16%

558.21%

141.52%

100.30%

96.65%

95.78%

80.72%

78.78%

43.88%

Unlike the Trinidadian, Barbadian and Guyanese Stock Exchanges, Jamaican traded companies represented the majority of the Top 100. Boasting 53 companies on the Top 100, Jamaica was well represented in the 30 companies that qualified based on the US$500,000 mark and the need to see a positive percentage increase in profits.


Businessuite Top 10 CEOs for JamaicaRank2015

Chief Executive Offier (CEO) US$0002014

US $ 0002013

%Change

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Listed Company

Mayberry Investments Limited

Desnoes & Geddes Limited

Gleaner Company

Supreme Ventures Limited

Cargo Handlers Limited

Jamaica Producers Group Limited

Dolphin Cove Limited

National Commercial Bank Jamaica Ltd.

Sagicor Group Jamaica Limited

Pulse Investments Limited

$6,332

$27,500

$1,580

$8,110

$1,149

$3,124

$3,835

$101,535

$74,243

$1,439

$962

$11,386

$807

$4,536

$799

$2,371

$3,028

$80,372

$59,204

$1,202

558.21%

141.52%

95.78%

78.78%

43.86%

31.74%

26.67%

26.33%

25.40%

19.68%

The Click philosophy……“Creating compelling conversations and experiences between Brands and consumers and helping clients shift from interruptive messages to immersive

experiences.”

www.blackslatehldings.com

Jamaica’s Top 10 Caribbean CEOs seen below, featured the fashionable Kingsley Cooper, former Red Stripe head Cedric Blair and the Investment savvy Gary Peart and Richard Byles.

Gary Peart Cedric Blair Christopher Barnes


COMMENTARY

LEADERSHIP: Get a Good Board Of DirectorsThe rewards of taking your company public come with huge responsibilities as you must be aware of the obligations and constraints of running a public company and adopt a suitable management style. For example “business decisions can no longer be self-serving and entrepreneurs must always be reminded of their fiduciary responsibilities,” warned the Jamaica Stock Exchange in one of its publications.

The argument has also been made that when an entrepreneur is heavily invested in his company, he has the most to gain during good times and the most to lose when things

If you are an executive who drives for results, you may be known around the office as a typical “Type A Personality”. In today’s business world, that’s usually not a compliment. Over the years, Type A’s have received a bad rap, known for their ability to be demanding, rude and abrasive. That view is changing, fortunately, as we focus more on the positive results they produce and how they are able to outperform others. To the rescue: new tools emerging that can help Type A’s continue their quest for results without the negative stresses that often come with it.

The term “Type A” was coined by two cardiologists, Meyer Friedman and Ray Rosenman in the 1950’s as a way to pool

go wrong. That burden usually prompts better decision-making. Others argue that a person who found a company should rightfully profit from his or her efforts. But ownership of a public company also means giving up the right to keep decisions made behind closed doors private.

Once the founder decides to take his company public and shares the ownership, the corporation is “obligated to provide timely, continuous reporting of corporate information as required by regulatory agencies,” according to the JSE.

A key factor in this transition for the founding entrepreneur

traits shared by cardiac patients. However, recent findings have shown that only a single aspect of Type A behaviour explains the high stress. It’s called “impatience-irritability” and it actually has a negative effect on performance. This aspect of Type A behaviour includes anxiety, over-urgency, tough-minded hostility. It explains the need to want other people to get to the point quickly.

There is another aspect, however, that explains why Type A’s have more sales, higher GPA’s and set more aggressive goals than other types. It’s called, “achievement-striving”: being ambitious, rigidly organized, highly status-conscious, competitive, open to taking on more than one can handle,

is to ensure that they have a firm, strong, independent and professional board of directors.

“There are definite differences in the responsibilities of directors of a public company and those of a private company. In a public company the responsibility to the shareholders takes precedence. The directors are entrusted with managing the affairs of the company in the best interest of the shareholders and are therefore accountable to them NOT the founder often times majority shareholder.

For example, board members not directly involved in the daily operations can give advice and

proactive, and concerned with time management.

Given these behaviours, how can you as a Type A produce even better results without the predicted stress?

1. Better Manage Time Demands You Create

The typical Type A starts creating more time demands in their teenage years, in the form of self-generated tasks called “time demands.” If you are a Type A, you may recall the moment you realized that time demands are the link between your goals and your actions. This discovery led you to create more of them, plus ways to manage them effectively.

provide objectivity and balance to management and lend credibility to the company’s reputation,” according to the Jamaica Stock Exchange’s publication about going public.

While having directors with significant shareholdings has its benefits, directors enriched by massive shareholding may be tempted to throw their weight around and ignore the views of other directors and managers, Jain warned. Those kinds of leaders usually surround themselves with people who won’t stand up to them. This limitation of vision, knowledge and skill in most cases will negatively impact the growth of the business. BM

Today, your mind manufactures these psychological objects in a relentless manner driven by what’s called the Zeigarnik Effect. It’s that nagging sense human beings have when a task is left incomplete.

Bluma Zeigarnik’s work on this phenomena was recently updated by Ed Masicampo and Roy Baumeister. They showed that when we successfully manage a time demand, we get almost the same peace of mind as when it’s completed. That’s the reason Type A’s (more than other types) won’t ever be found without their smartphone, laptop or even a printout of their To-Do List and/or calendar.

The directors are entrusted with managing the affairs of the company in the best interest of the shareholders...

TIME BASED PRODUCTIVITY:A Dream Come True for “Type A” Executives -Schedule Auto-OptimizationBy Francis Wade

Management Consultant


By Yanique GrantCustomer Service Strategist

2. See Things Get Worse and Respond

Over the past few years, you have probably found yourself creating more time demands than ever before. Your life is more complex and you are unlike others who have decided not to grow their capacity to deliver. Instead, you have warmed to the challenge of finding better methods.

In my book, “Perfect Time-Based Productivity - A unique way to protect your peace of mind as time demands increase” I explain why times have changed. Internet technology, mobile computing and other innovations bring more triggers for new time demands into our lives than ever before. The fact is, we see more information in a day than our grandparents saw in a month. This exposure fuels time demand creation.

The good news is that there is better technology to capture, manage and complete time demands than ever before. For

example, your grandfather had a Little Black Book while you have an online address database. Consider how long it took him to send a single message to all his contacts.

Some Type A’s know this fact and have upgraded their skills, discarding old methods that are unsuitable for the number of time demands they must manage. In order to stay ahead of the Zeigarnik Effect, they must evolve. Their skill at managing time demands goes from the use of memory to the latest technology - “auto-optimizers.”

3. Finding New Tools

For the past year, I have been experimenting with an auto-optimizer called SkedPal. (The experiment is such a success I joined their Advisory Board.)

The software program uses artificial intelligence to re-juggle your calendar with a single click. As a user, each day you update it with new fixed appointments

and flexible tasks. Fixed appointments are those time demands which involve other people and are therefore hard (or impossible) to rearrange. Flexible tasks are time demands which can be rescheduled at will.

You also provide the app a number of “Time Maps” - user-generated weekly priorities showing the best times to schedule certain tasks. For example, my best times for writing articles like this are on Wednesdays and Fridays between 4:00 AM -8:00 AM, and from Monday between 7:00 AM - 10:00 AM. Starting with your time demands, SkedPal uses the Time Maps you create to optimize your calendar within a few seconds.

When a disruption occurs, a new optimal calendar is just a few clicks away, relieving the user of a burdensome chore. Now, for the first time, it’s easy to recover from unplanned changes in your schedule.

It’s hardly the end of the road

- as a Type A you will continue to create more time demands than you can fit into a 24 hour day. However, as someone with strong Type A tendencies, I can share that having a reliable tool to reschedule my calendar on demand reduces the Zeigarnik Effect. At the same time, I fully expect my mind to adjust... and create even more time demands with the extra time and capacity it has gained by using SkedPal. So, no, I don’t see this as a final solution.

But auto-optimization as a disruptive technology is here to stay. For Type A’s, it will become a necessary bridge to the future in which each of us manages more time demands with less effort, accomplishing more of our goals along the way.

This is a dream come true.

Francis Wade is the author of Perfect Time-Based Productivity, a keynote speaker and a management consultant. To receive a free summary of links to his past articles, send email to [email protected]

Winning an account is a great accomplishment and is usually celebrated by the boss and the team as this means more business and more money. Just as any other accomplishment achieved requires maintenance and consistency so does maintaining a consistent relationship with that account holder.

Every business works extremely hard to acquire new customers. In order to acquire the business, your first step would be to make initial contact with the customer either through email, phone or face to face. After initial contact you now have the customer’s attention, they may purchase your service or product based on their needs.

Let’s take a look at a few examples:

Scenario 1 - a newly opened print supplies business opens and they contact you to tell you about their products and services and also how competitive their prices are. You advise them that you already have someone that supplies you with toners and stationery for your office and you decline their offer. They call back one month later and remind you of their services and products because they would really like to stay front and centre in your mind in order to “win your account.” Six months pass and every month they call you to share the same information. One day they even show up at your office with sample products and a free

giveaway bag. After one year of courting you – you eventually start purchasing items from them. However, the difference in behaviour is they no longer call and check up to see if you need supplies and months pass sometimes before you even remember that they still exist.

Scenario 2 – an automotive company has sales representatives who prospect at different events and one day while attending a business luncheon you were approached by one and you were intrigued by the cars they sold and also the features and benefits of these vehicles. The sales representative calls you weekly as they know you really want to change your vehicle. They contact the bank and

have the relationship manager at the bank call you, they also contact the insurance company and arrange for everything. Over 6 months have passed and you have encountered other automotive sales representatives but the original one that you met stands out in your mind as they always followed up no matter what. Therefore, when you were ready to make the purchase – you automatically called the representative who contacted you consistently. You finally receive your new vehicle and the representative called you a day after the delivery of your car and also a week after. However, one year has passed and you have not heard back from that representative.

Scenario 3 – While collecting a document for work at a business

BUSINESS ENVIRONMENT:Winning Accounts vs.Winning Relationships


place, you are greeted by a young man that states he is in the business of website marketing. Your business is seeking global visibility through a website and social media. You exchanged contact information with the young man and through email – he sent all of the benefits that would be derived from doing business with him. The rates were not competitive; however, the solutions provided were value-added and robust. After 3-4 months have passed, you now have your website running and you are extremely pleased with the features and flexibility that the website provides. However, 12 months have passed and apart from an email that you receive monthly with a bill for maintenance of the site – you have no communication or support dialogue with the developer as to how the content can be improved or new innovative ways that you can generate more traffic to the site. You are somewhat displeased with the quality of after sales service that is provided and you contact the developer to request some minor changes for the website – he is completely unavailable, he does not return emails

and you feel frustrated as you believed there would be some support provided after the site was developed.

In all the above scenarios – we must recognize that winning the customers’ account is very important, however, building strong relationships is much more important. Customers do not want to be treated as transactions instead they would like to be treated as people. All customers want value added services.

My challenge to you is think of your business offering and look at how you can offer value-added service to your customers…..

Statistics have shown that people don’t remember what you did but they do remember how you made them feel. How do your customers feel after doing business with you – are your customers your biggest fans? Do they speak highly of your company? Do your team members feel proud to work at your company? When they wear their branded shirts with your company logo and go in public areas do they feel proud to represent your brand and company?

If the answer to any of these questions is NO! Your company, specifically your leaders need to look at why the team may feel this way and also why the customers feel this way because as we stated before, human beings usually remember how you made them feel! How do you make your team members feel? Do you really show them how much you care? How do you make your customers feel?

Many companies focus on building accounts – SELL, SELL, SELL!!! After these prospects become your customers – how are you building those relationships? Do you really care about your customers as human beings vs. a transaction or a sale?

Tips for Building Relationships

1. Give back to your existing and loyal customers even if

you are a monopoly. Customers like to know they are saving money or they are getting value like a free item or service for a month such coupons and complimentary gift certificates.

2. Use the information in your customer records such as

birthday, anniversary, upgrades or specials in relation to a previous purchase a customer made.

3.Courtesy calls for customers just to see how their business

is doing and also how they are doing as people.

4.Do business with the companies that do business

with you. We should all support each other especially the people who support you. This will allow you to get to know your customers on another level as well.

5.Be human. This last tip is quite simple but if not applied can

damage your business. A company is not made up of equipment, machinery, products etc. People are the ones responsible for how your employees feel and how your customers feel! Be connected in your words and actions, be deliberate when working with your team and customers and make sure you show compassion in your interactions because “People won’t show you how much they care, until you show them how much you care.”

We are a Caribbean B2B Branding and Creative Agency

“Striking business decision-makers at a more personal and memorable level.”

www.amkcomm.com


The first thought a lot of people have when they receive lump sums or any form of extra cash, is to invest. However, many persons who have this first thought aren’t sure where to go from there.

Based on this empty space, research and the information provided by the Jamaica Stock Exchange, the Businessuite Markets team has compiled “A Guide to the Stock Market and Trading” specifically for those who don’t know where to go or what to do.

The Jamaican stock market is a vital link between companies needing capital and Jamaicans with money to invest. Through investments in stocks, investors become part owners of the companies of their choice and are able to participate in the companies’ growth and development. If you are serious about investing, one of the first things you need to do is learn the lingo.

Share- A Share is a unit of ownership interest in a company. When you buy or receive shares in a company, you become a part owner of that company. This is also known as having equity in that company. The more shares you have in relation to the total number of shares issued by the company, the more of the company you own.

Dividend- A dividend is a proportionate distribution of earnings (profits) of a company to its shareholders. With common (ordinary) shares or stocks, the rate

of the dividend varies with the company’s performance and with the amount of cash on hand. With preferred stocks or shares, the rate is fixed.

The Board of Directors of the company decides the amount of the dividends to be paid out. They may also decide to hold back some or all of the profits to expand the company’s operations. Dividends can be paid quarterly, half yearly or once per year.

Types of Shares

There are two basic kinds of shares. They are Ordinary Shares, also known as “common stock” and Preference Shares.

As a part of the percentage ownership described earlier, the ordinary shareholder or common stockholder usually has four basic

rights in proportion to the number of shares owned.

These include the right to receive dividends if and when these are declared by the Board of Directors; the right to a vote at meetings of the shareholders; the right to claim a portion of the company’s undivided assets, if the company is liquidated; and the right to subscribe to additional stock or share offerings before they are made available to the general public.

Meanwhile, the holders of Preference shares have certain rights and privileges over ordinary shareholders. There are different classes of preferred shares, which confer different rights. The most common types give the preferred shareholder the right to receive dividends at a fixed rate prior to payment of dividends to ordinary shareholders as well as the right to

receive a proportionate share of the company’s assets before ordinary shareholders, if the company should go bankrupt or be dissolved for any reason.

What To Do Before Buying A Share

While there is no guarantee in trading the Jamaica Stock Exchange has identified 5 things both first time and seasoned investors must do before investing. They are:

1.Collect and study as much information

as possible about the company in which you intend to invest.

2.Seek professional investment advice

from a broker or other qualified persons.

3.Learn how to read and understand the basic

financial statements and reports which the

TRADINGThe Beginner’s Guide to the Stock Market

companies listed on the Stock Exchange are required to publish.

4.Develop the habit of reading and

understanding financial publications.

5.And After buying shares, monitor and

track your investments by maintaining a daily record of advances or declines in the stock value

Now that you know what a share is and have done your research to determine which company or companies you want to invest in. The next step is now to find a broker that suits your needs.

The Stock Broker is a person whose business it is to buy and sell shares at one of the brokerage firms authorized by the Financial Services Commission and the Jamaica Stock Exchange to operate in Jamaica.

The information provided in this article was sourced from the Jamaica Stock Exchange


COVER STORYThe Jamaica Stock Exchange;Converting Entrepreneurs To US$ Millionaires!

In the past several years, Jamaica has made several strides in being recognized as the best place to do business in the Caribbean. Of critical note is last year’s award to the Jamaica Stock Exchange for being recognized by Bloomberg Magazine as the #1 Performing Stock Exchange in the world.

Despite the skepticism of many of the opportunity for local investors to achieve Millionaire status or follow in the footsteps of Michael Lee Chin to be identified globally as a billionaire; several local entrepreneurs are becoming US millionaires through their listing on the JSE.

Marcus James is among the growing list of Jamaican entrepreneurs to have taken their companies public and become real US$ millionaires. Access Financial Services Limited was established in 2000 and listed on the Junior Market of the Jamaica Stock Exchange in 2009. At the time, James took the fledgling yet profitable Access and became the first company to list on the Junior Market of the JSE. Proven Investment’s December 2014 acquisition of 49 per cent of Access Financial Services, valued

at JA$1.2 billion placed a JA$1 billion value on James’ shares; proof of the transformative effect of an IPO on an Entrepreneurs financial fortunes.

He is not alone. There is a growing list of Entrepreneurs who have unlocked the equity value in their companies via an IPO.

Oliver Townsend, founder and managing director of Knutsford Express, took his company public in the last quarter of 2014, a move that resulted in, his 35.2 million shares valuing over US$1,806,316 million, making him one of a burgeoning number of US dollar millionaires.

Another Example of this trend is the move by Mark Hart, cofounder and executive chairman of Caribbean Producers Jamaica, who upon listing, was able to unlock the value of his 880,000,000 stock units in the company to realize a value of US$16.3 million or JA$1.856 billion.

Meanwhile, Founder and Chairman Derrick Cotterell took his Derimmon Trading public in December of 2013 and netted JA$150 million

while giving up 26.8% of the company. The IPO was oversubscribed and was closed within 3 minutes of opening. For his controlling interest of 110,000,000, He was able to unlock US$2 million for his share.

Stafford and Marylyn Burrowes also took their enterprise public in 2010 and raised JA$240 million in capital to take advantage of the projected growth in Jamaican tourism. Prior to the offer and subsequent of the approval of World of Dolphin’s purchase of majority shares in the company, as the owner of 274,949,000 shares of his company’s stock, Burrowes stake in the company was valued at more than J$2.3 billion, or about US$21 million.

Not to be outdone is notable Lascelles Chin, founder of the LASCO Group, who boasts of being the first entrepreneur to have a triple listing on the Jamaica Stock Exchange each of which have managed to make him a US$ millionaire.

Movements In Stock PricesTrading on the Jamaica Stock exchange takes place on a daily basis and with

each trade, the fortune of the Entrepreneurs are impacted. There is certainly risk and reward in this endeavor. Many question the reason and rationale for positive and negative movements in stock prices, as the reasons are not immediately obvious. But such is the nature of the market. None the less significant fortunes are made and lost with each of these trades.

Financial Jackpot For these Entrepreneurs with significant shareholding, taking their companies public was clearly a financial jackpot that could only be fully realized with an IPO, and with the faltering Jamaican dollar trading at around $122 to the greenback, that is still nothing to sneeze at.

These entrepreneurs have tied their wealth to the success of their companies and have watched their bets on the Jamaica Stock Exchange pay off handsomely. With the potential to unlock this kind of significant wealth the question is asked, why have not more Entrepreneurs taken this IPO path?

Marcus James Oliver Townsend Mark Hart Derrick Cotterell


For Financial Consultant Sushil Jain, the continued skepticism of the JSE is unfortunate. “It has been very successful in creating wealth for entrepreneurs and making millionaires. It is unfortunate that many businesses and individuals

Caribbean Flavors and Fragrances has seen a 59.7% boost in its net profits for the second quarter ended last December, when compared to the same period in 2014.

According to the company’s financials for the period, this $17.268 million was over $6 million more than the amount recorded in the same quarter of the previous year.

GRENADA Warned To Focus On Imf Goals In Execution Of 2016 Budget

The International Monetary Fund (IMF) has warned the government of Grenada to focus on the execution of its 2016 budget in line with the country’s agreement with the Fund and the new Fiscal Responsibility Act.

In its statement following last week’s visit, the IMF said key priorities in 2016 include focused reforms to ensure prudent and sustainable management of the public sector wage bill; application of the new system to register beneficiaries for social

However, this represents a $3.095million dollar fall off when compared the profits for the first quarter of the 2015/2016 Financial Year.

For the quarter ended September 30, Caribbean Flavors and Fragrances reported net profits of $20.363 million dollars, a value which Managing Director Anand James attributed to an “increase in the sale of flavours in the domestic market as well

assistance; and follow through on growth-enhancing reforms in the areas of business facilitation and labor legislation.

According to the statement, Grenada has made major strides toward restoring fiscal and external sustainability since its last consultation in 2014.

The IMF says since then, economic activity has picked up, debt has been reduced, and the balance of payments position has strengthened. However, it says as the country heads into the last year of its ECF-supported program, renewed policy

MARKET WATCH

Further Afield

Junior Market Focus - Caribbean Flavours And Fragrances Limitedas the sale of products to new customers” He says there was also a “6% year over year increase in the sale of fragrances for the quarter thereby contributing positively to both the revenue and our profitability”.

However, gross profits increased with the company reporting of $32.856 million for the first quarter compared to $35.26 million dollars for the quarter ended in December.

resolve will be essential to secure lasting success of the home-grown program and broaden the reach of its benefits.

BRAZILEconomy Shrinks By 3.8% In 2015

Brazil’s economy saw a 3.8% fall last year, one of the largest fall experienced by other major economies during the same period.

According to the country’s National Statistics Agency IBGE, Brazil’s negative growth was partly due to low

James says general improvements were a result of growth in local and foreign revenues as well as improvements in the sourcing of raw materials. He says going forward, the company will continue to review and improve its purchasing strategy while attempting to increase revenue, contain costs and ensure customer satisfaction.James says since the selling and distribution costs are a direct reflection of the sales

commodity prices and sluggish global growth.

The fall has also been attributed to political paralysis that has hampered the country’s efforts to tackle its economic problems, including a budget deficit that has reached 10.8% of GDP.

DOW And Dupont Heads To Get $80M Leaving Bonuses

The heads of Dow and DuPont are set to receive a combined $80m leaving bonuses following the tie up of the two companies.

growth, efforts will be made to review these expenses and distribution methods to ensure that efficiencies are obtained at all times.

The Company, which was listed on the Junior Market in October of 2013 currently benefits from a ten year remission of taxes of 100% for the first five years and 50% up to year 10 provided the company remains listed for at least 15 years.

The $130bn merger was announced by both Dow and DuPont in December.

Dow CEO Andrew Liveris, will get $52.8m in cash and stocks (including his $40m retirement package. Meanwhile, Edward Breen, who was appointed as DuPont’s CEO in October, will receive $27.2m.

The new DowDupont Company is to be broken into three businesses focusing on agriculture, material sciences and specialty products over a two year period.

have not understood the benefits and have not taken advantage of the JSE. For whatever reasons, many Jamaicans are not so excited about the stock market. It is unfortunate that they do not realize how much they have missed”. BM

of critical note is last year’s recognition of the Jamaica stock exchange by Bloomberg magazine as the top performing stock exchange in the world

Stafford and Marylyn Burrowes Lascelles Chin


Where You Will Find The Caribbean’s Top Business Leaders

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Businessuite markets march 2016

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