News

Derrimon Trading is looking to roll out a new information technology system that will bring its own accounting system and that of its subsidiaries under one platform. But it’s just one of the projects being worked on by the distribution company. Derrimon Chairman and CEO Derrick Cotterell on Friday told shareholders that the company is looking to grow the business – which involves the distribution of food products...

Manufacturing and distribution company Seprod Limited has landed new markets in new territory for the group that will see its grain venture putting another 15 per cent of unused capacity into play. Jamaica Grain & Cereals Limited is currently exporting a by-product from its mill, called wheat middling, to two South American countries, and is looking to finalise negotiations for distribution arrangements in at least three other Latin...

Port container volumes in Kingston have fallen during the pandemic. The contraction still resulted in Kingston ports outperforming more than half of the other city ports in the Americas, regional shipping data shows. Cargo shipments into Kingston dipped 12 per cent year over year when measured in tonnages, while export tonnages fell 7.0 per cent between January and August, based on data released to the Financial Gleaner by...

After securing another good financial year despite the effects of the COVID-19 pandemic along with increased cost from discontinued operations, Seprod Limited said that the company is further seeking to expand its distribution footprint in the domestic and international markets. Speaking in a livestream of the company’s 81st annual general meeting held on Monday, Richard Pandohie, managing director and chief executive officer (CEO), said that while the business...

The Government of Jamaica’s joint agency initiative, Port Royal 2020, has received support from the Inter-American Development Bank (IDB) to the tune of USD$110,000. This funding will support the continued technical assessment and Master Urban Planning for the town. The Urban Development Corporation (UDC) is the coordinating agency for Port Royal 2020. Formally known as ‘Programa Patrimonio Vivo del BID’ (IDB Living Heritage Program),  the initiative is sponsored financially...

A senior executive at Portland Private Equity (PPE) says that junior market prospect, Tropical Battery has significant runway ahead of it with the transitions taking place in the automotive and renewable energy spaces. Vice-president of Investments at Portland Private Equity, Ricardo Hutchinson has identified future opportunities in the electric car market for Tropical Battery. “The COVID pandemic has served to highlight the key role that Tropical Battery plays...