Business notes — October 12, 2022
September Traffic Report
Sangster International Airport (SIA) is reporting 57 per cent year-over-year growth to 300,600 terminal passengers for September. This performance is 17 per cent above the September 2019 figure of 256,900 passengers. Norman Manley International Airport (NMIA) recorded an 88 per cent increase in air traffic to 137,000 passengers for September. SIA’s year-to-date traffic of 3.23 million passengers is 83 per cent higher than the 1.76 million passengers in January–September 2021, while NMIA had a 100 per cent increase in year-to-date traffic of 1.13 million passengers compared to 565,900 passengers in the prior period.
Executive and Director Changes
Emanuel DaRosa has been appointed to the board of Paramount Trading (Jamaica) Limited effective October 6.
Lorna Gooden has resigned as general manager of Supreme Ventures Racing & Entertainment Limited effective January 3, 2023.
Ryan Assing has been appointed as branch manager for JMMB Bank (T&T) Limited’s Chaguanas location.
David O’Brien has been appointed the executive vice-president of global expansion at Massy Holdings Limited effective October 1 and joined the board of directors as an executive director. This comes after he retired as the executive chairman of the Motors and Machines portfolio on September 30.
Vaughn Martin has been appointed as an executive director of Massy Holdings effective October 1, which is the same day he became the interim group chief financial officer.
Izualo Campbell’s contractual period as Caribbean Assurance Brokers Limited’s consultant for internal audit and compliance ended on September 30.
Anthony Smith has been appointed deputy chief executive officer (CEO) of print and digital services for RJRGleaner Communications Group effective October 1. Dr Clair Clarke-Grant has been appointed deputy CEO of broadcast services and group content development effective October 1. Tanya Smith has been appointed chief people officer effective October 1. Christopher Barnes has been promoted from chief operating officer to chief strategy officer.
Market Sales and Events
A director of Supreme Ventures Limited purchased 319,425 shares from a related entity for a consideration of $8.62 million on October 3. An executive of Sagicor Group Jamaica Limited sold 4,500 shares on September 29 while another executive sold 85,000 shares for a consideration of $4.42 million on September 30. A director of Future Energy Source Company Limited sold 1,104,629 shares for a consideration of $6.52 million on September 29.
First Rock Real Estate Investments Limited purchased 250,000 of its US-dollar denominated shares for prices between US$0.04 and US$0.05 from September 15 to 19 under its share buy-back programme. Eppley Caribbean Property Fund Limited – Value Fund purchased 61,248 shares for a consideration of $2.69 million between September 22 and 27, and 143,128 shares for a consideration of $6.45 million.
TransJamaican Highway Limited will pay the quarterly dividend on its 8.0 per cent cumulative redeemable preference shares on October 14 to shareholders as of September 30.
Dolla Financial Services Limited has successfully raised $1 billion through the issue of its senior secured corporate notes and has decided to upsize the offer up to $1.5 billion. The closing date has been extended from October 4 to October 18.
QWI Investments Limited’s net asset value (NAV) has declined from $1.31 to $1.26 for its fourth quarter (July to September). Its NAV has declined from $1.34 at the start of the financial year (FY) to $1.26. Eppley Caribbean Property Fund – Value Fund’s (CPFV) NAV has increased from Barbadian $0.73 to Barbadian $0.76 for its fourth quarter. CPFV’s NAV has increased from Barbadian $0.74 to Barbadian $0.76 for its 2022 FY. Sagicor Select Funds Limited – Financial’s NAV decreased from $0.772 to $0.743 for its third quarter. Sagicor Select Funds Limited – Manufacturing and Distribution’s NAV decreased from $1.147 to $1.072 for its third quarter. Mayberry Jamaican Equities Limited’s NAV decreased from $17.80 to $15.70 for its third quarter.
— David Rose