Jamaican Stock — Page 127

New products for Medical Disposables

February 7, 2014 by IC Insider.com

Medical Disposables & Supplies has advised the Jamaica Stock Exchange that they have entered into a distribution agreement with Denk Pharma.

The company indicates that Denk Pharma is a premium Pharmaceutical manufacturer since 1948 with headquarters in Munchen, Germany. Denk has maintained a presence in Jamaica for 16 years and has appointed the company as a co-distributor for its entire product range islandwide.

Medical Disposables & Supplies was listed on the Junior Market in December last year after a successful IPO.

Related posts | Medical Disposables, OK not great

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Derrimon Trading goes for $200m

February 6, 2014 by IC Insider.com

Recently listed Derrimon Trading Company goes the capital market to raise up to J$200,000,000 from an 18 months Secured Commercial Paper with a minimum denominations of J$1,000,000.00 and increments of $100,000 at a fixed rate of 12.25 percent per annum. Interest is payable monthly, which raises the effective rate beyond that stated. The net proceeds from the issue will be used for working capital and general corporate purposes the term sheet states.

The issue date is February 6, 2014 and Maturity is August 6, 2015. Withholding tax shall apply to Note holders in accordance with applicable laws. Mayberry Investments are the brokers for the issue.

Derrimon Trading went public last year December and raised $102.5 million in fresh capital in an IPO offering for working capital, expansion and cost of the IPO estimated not to exceed $9.5 million, the prospectus stated.

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The problem here is that if they succeed with the current issue which involves expensive money, borrowings will exceed equity capital. Borrowed debt should not be more than 50 percent of equity capital, the accepted norm.

The last balance sheet. disclosed at the time of the IPO, showed a company with adequate working capital, requiring more equity injection than the IPO brought in to align the current asset ratio in line with the accepted norm of $2 of current assets versus $1 of current liabilities. Instead, what existed then was $1.15 to $1 and even with the infusion of funds from the IPO, it would have gone to a still inadequate $1.33 to $1.

Filed Under: Company News, General Business News, Initial Public Offers, Stock Market Tagged With: Derrimon Trading, Jamaican Stock, JSE Company

CPJ’s new St Lucia venture

February 6, 2014 by IC Insider.com

The Board of Directors of Caribbean Producers Jamaica advises that the company signed a Shareholders’ Agreement on February 4th, 2014 to form a joint venture with the Du Boulay Bottling Company, the Coca Cola manufacturer operating in Castries, St. Lucia.

The new company will be called CPJ St Lucia Limited and commences operations as a foodservice distributor in Castries, St. Lucia in the near future. Caribbean Producers will retain controlling interest of this company.

Caribbean Producers Jamaica is an IC Insider’s Buy Rated Stock. Click here for the full list of recommended stocks to purchase.

Filed Under: Company News, General Business News Tagged With: Caribbean Producers (CPJ), Jamaican Stock, JSE Company

First Caribbean may be delisted

February 6, 2014 by IC Insider.com

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First Caribbean Bank has left it to the Jamaica Stock Exchange to determine if they will delist the shares, according to an advert put out by the Bank, which is listed on various exchanges within the region.

The JSE advised them that the number of shares in the public hands is less than 20 percent as is the requirement. In addition, the level of trading is below the threshold desirable, being less than 2 percent average over 36 months, prior to the making notice to the Bank. As a result, the advert also indicated that the company was in breach of section 402b (1)(b) of the JSE rules.

After careful review of the matter, the bank has determined that it will not be feasible for either the proportion of the non-majority held shares or the average total traded volume to be raised to the minimum required in the foreseeable future.

The bank has decided that it will accept that it will be delisted by the JSE and has invited the JSE Board to exercise its discretion under rule 411a to delist the bank at its February meeting.

The bank is the largest holding by market share on the exchange and this will be the second large corporation taken off the exchange this year, if in fact, the JSE moves to delist to shares.

Trinidad Guardian Holdings opted not to remain listed on the JSE at the start of 2014 based on the low level of trading in its stock. The JSE went public last year against the background of lower income and profits than the year before and these moves will mean reduced income for the JSE and most likely worsen the loss position they suffered in the last three quarters of 2013.

Related posts | FCIB gets punched | JSE IPO oversubscribed by 41%

Filed Under: Company News, General Business News, JSE Main Market, Stock Market Tagged With: First Caribbean, Jamaican Stock, JSE Company

JSE: Advances more than declines

February 3, 2014 by IC Insider.com

Monday, 3rd February 2014 | The first trading day on the Jamaica Stock Exchange for the new month saw more stocks gaining value than those that lost but the main market indices fell as 27 securities changed hands with 8 advancing and 6 declining.

The JSE Market Index lost 951.58 points to end at 81,436.23 and the JSE All Jamaican Composite declined by 1,443.46 points to close at 83,938.97. For the Junior Market, the index slipped by 3.93 to close at 780.55. Trading resulted in only 2,182,178 units changing hands with a value of $18,449,519.

Main Market | As the market gave back some of the gains garnered towards the end of January, investors have to learn to stomach the month-end moves and not get caught up in the hype that often accompany seasoned investors behaviour towards each month end. The pull back in prices of some of last week’s winners, namely Scotia Group, National Commercial Bank and to a lesser degree Grace Kennedy and Scotia Investments, had a telling impact on the main market indices.

Stocks gaining | Cable & Wireless with 215,000 units to close at a 52 weeks high of 27 cents with the price gaining 2 cents at the end of trading; Caribbean Cement exchanged 22,056 shares with the price increasing by 13 cents to end the day at $4.80; Carreras 30,780 shares to close at $33.99 for a 49 cent gain; Ciboney with 491,000 units closed up 2 cents at 8 cents; Gleaner with 4,878 shares gained 2 cents to close at $1.12; Jamaica Money Market Brokers gained 9 cents to close at $7.49 with 60,700 shares.

Stocks falling | Desnoes & Geddes with 41,286 units to close at $4.98 as the price slipped by 52 cents; National Commercial Bank with only 3,636 units at $17.40 for a fall of 60 cents; Scotia Group 673,560 units closing at $20.71 for a $1.23 drop; and Scotia Investments with just 8,740 units as the price fell $3.40 to end at $23.10.

Firm Trades | Kingston Properties with 55,680 shares at $4.45; Sagicor Investments 7,235 units at $20 and Sagicor Group with 81,885 shares changing hands at $10. In the preference section, Jamaica Money Market Brokers 7.50% traded 54,119 units at $2.

Junior Market | Of the ten stocks trading in the junior market, only 4 had much volume changing hands.

Gainers | Caribbean Flavours traded only 2,750 shares at a new all-time high of $2.85, the price was up by 35 cents. The company announced that the board of directors will be meeting on February 5, 2014 to consider the payment of a dividend. Lasco Manufacturing traded 101,086 units to close up a cent at $1.32.

Firm Trades | Lasco Distributors traded 149,915 units and closed at $1.45; Consolidated Bakeries traded with 52,765 units at $1.15 and AMG Packaging 7,050 shares at $3.45.

Stocks falling | Lasco Financial Services traded 99,000 units, lost 4 cents to close at $1.35 and Medical Disposables 5,000 units at $2.05, down 5 cents.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 7 stocks with bids higher than the last selling prices and 1 stock with the offer that was lower.

Filed Under: JSE Main Market, Stock Market Tagged With: Daily Trading, Jamaican Stock, JSE Company, Trading Activity

Buy rated: Coming in from the cold

February 1, 2014 by IC Insider.com

A number of the Buy Rated stocks are coming in from the cold as prices rose during the last week of January.

The Jamaica Stock market made big strides, separate and apart from the flurry of trading action emanating from the landmark announcement of Sagicor Group’s acquisition of RBC’s Jamaica operations. Wednesday’s trading activity was the best day for months as 21 stocks advanced in price and the main market indices climbed sharply on three consecutive days.

The Jamaican main market trading had 8 stocks climbing and only 1 declining. Sagicor Group gained 18 percent in the aftermath of the RBC takeover, Scotia Group put on 7 percent, Barita gained 4 percent and Caribbean Cement 3 percent.

The Junior market had mixed fortunes with three of the Buy Rated selections rising; Caribbean Producers gained 2 percent and Lasco Manufacturing 4 percent, while Caribbean Cream fell 9 percent and General Accident fell by 4 percent.

Only one stock lost value on the Trinidad Stock Market as First Citizens dipped 6 percent by week end and Sagicor Financial gained 4 percent.

Jamaica Stock Exchange | From inception of the Buy Rated list in July 2013, Barita is up 13 percent, Caribbean Cement 77 percent, Hardware & Lumber 76 percent, Sagicor Group 5 percent. Those with losses in the main market are all less than 10 percent with JMMB at 8 percent being the largest loser. Junior market stocks are not fearing as well with only Access Financial which was up to 44 percent when we pulled it and placed it as Market Watch. Caribbean Producers is up 35 percent so far and Blue Power way behind at 7 percent increase. The big losers so far are Lasco Manufacturing down 21 percent, Caribbean Cream 18 percent, Jamaican Teas off by 14 percent and Lasco Financial 10 percent.

Trinidad Stock Market | First Citizens, which gained 52 percent in the first round, is up 2 percent since being reinstated to the Buy Rated list even as the price declined from its peak. Neal & Massy is now up 11 percent, Grace Kennedy 12 percent, One Caribbean Media 8 percent, Republic 6 percent, Trinidad Cement 130 percent and 12 percent for Sagicor Financial. The losers number only 4 with Guardian Holdings down 14 percent, JMMB 2 percent, Point Lisas 8 percent and Scotia Investments 24 percent.

The coming week could be interesting in the Jamaican market as the past week showed signs of increased interest in the market. Will the interest continue into February or just a month-end dressing? Whatever the case, what is quite clear is that the supply of stocks for many of the Buy Rated stocks have been waning with some having virtually none on the sell side. February could see the return to a decisive bull market.

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Filed Under: Company News, JSE Main Market, Stock Market, TTSE Market Tagged With: Jamaican Stock, JSE Company, TTSE

Cable & Wireless up 56% in January

February 1, 2014 by IC Insider.com

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Filed Under: Company News, Company Results Tagged With: C&WJ, Jamaican Stock, JSE Company, Lime

JSE: 4% gain for month

January 31, 2014 by IC Insider.com

Friday, 31 January 2014 | The Jamaica stock market closed the first month of the year up 4 percent measured by the All Jamaica and the junior market indices. The market closed out the week on a high, continuing the strong gains recorded on Wednesday and Thursday.

The overall market recorded 11,559,237 shares changing hands for a value $99,774,593.75. The advance decline ratio changed from Thursday with only 7 prices closing with gains versus 9 that fell, even as the main market indices rose strongly with gains from Scotia Group and Desnoes and Geddes. Three stocks closed at 52 weeks high, Desnoes & Geddes, Knutsford Express and Cargo handlers.

The JSE Market Index gained 1,072.34 points to end at 82,387.81 and the JSE All Jamaican Composite advanced by 1,626.66 points to close at 85,382.43.

Main market gains | The number of stocks that rose were less than on Thursday as the following recorded gains; Desnoes & Geddes with 42,800 units as it hit a new 52 weeks high of $5.50 as the price rose by 50 cents; Caribbean Cement with 153,200 units close 10 cents higher at $4.75; Jamaica Money Market Brokers 8.75% preference share traded 159,671 units at 5 cents higher at $3.05; Sagicor Real Estate X Fund 91,192 units at $6.75 for a 25 cents gain and Scotia Group having 1,569,595 units trading to close up $1.43 at $21.94.

Firm Trades | Cable & Wireless traded firm with 1,584,941 shares at 25 cents; Hardware & Lumber 1,000 shares at $8.08; Jamaica Broilers Group 10,000 units at $4.75; Jamaica Producers Group 2,370 shares at $18.75; Jamaica Stock Exchange 888 shares at $2.10; Kingston Wharves 23,466 shares at $6.06; National Commercial Bank 63,871 units at $18; Radio Jamaica 1,312 shares $1.60; Sagicor Group 165,098 shares at $10 and Sagicor Investments Jamaica just 1,286 units at $20.

Losers | Proven Investments ordinary share with 236,350 units to close at US16 cents as the price slipped; Gleaner 3,000 shares at $1.10, a 2 cents fall; Jamaica Money Market Brokers 6,902,685 shares at $7.40 valued at $51,637,516 as the price slipped by 9 cents; Berger Paints 10,000 units at $1.75, down 10 cents; Carreras with 86,604 units to close at $33.50 down 49 cents; Pan Jamaican Investment 5,139 shares as the price slipped by 49 cents to $48.50 and Grace Kennedy 7,177 units at $55.50 off by 50 cents.

The JSE Junior Market Index inched up 2.69 points to close at 784.48 as more shares gained than lost.

Junior market gains | There were 3 stocks recording gains in the junior market as Cargo Handlers exchanged 5,292 shares as the price gained 43 cents to close at a new all-time high of $14.03; Lasco Distributors traded 50,000 units to close up 3 cents at $1.45; and Knutsford Express 1,690 units at $5.17 for a cent increase to a new all-time high.

Firm trades | Blue Power Group 5,000 shares at $9.80; Caribbean Cream 400units at 85 cents; Medical Disposables 69,267 shares at $2.10.

Losers | There were few losing stocks in the junior market as Lasco Financial traded 265,000 shares to close at $1.39 losing a cent and Lasco Manufacturing traded 39,500 units for 2 cents fall to $1.31.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 9 stocks with bids higher than the last selling prices and only 1 stock with a offer lower.

Filed Under: JSE Main Market, Stock Market Tagged With: Daily Trading, Jamaican Stock, JSE Company, Trading Activity

JSE: Sagicor Companies dominate trading

January 30, 2014 by IC Insider.com

Thursday, 30 January 2014 | Sagicor Group of companies were the dominant trades in the Jamaica stock market as investors responded to the news of the takeover of RBC Jamaican operations by trading 1,365,319 shares of Sagicor Group for $13,747,021 pushing the price up by a $1 to close at $10 and the also drove up Sagicor Investments price as it closed up by $1.50 at $20 but with only 6,279 share trading.

The stock market continued where it left off on Wednesday the more stocks recording gains than those that fell as the overall market recorded 7,033,415 shares changing hands for a value $33,797,672. Knutsford Express traded at a new 52 weeks high of $5.16. The advance decline ratio changed from Wednesday with only 11 prices closing with gains versus 7 that fell compared with 21 to 10 on Wednesday.

The JSE Market Index gained 774.99 points to end at 81,315.47 and the JSE All Jamaican Composite advanced by 1,175.59 points to close at 83,755.77.

Main market gainers | Kingston Wharves 3,000 units to close up by 6 cents at $6.06; Scotia Group with 78,163 units closed up 11 cents at $20.51; Scotia Investments traded just 9,425 units but closing up 25 cents at $26.50; and Supreme Ventures 23,550 units to close up 13 cents at $2.43.

Losers | Berger Paints with 365,424 units closing at $1.85 and was off by a cent; Caribbean Cement with 23,000 units, closing down 35 cents to $4.65; Desnoes & Geddes 10,000 shares at $5.00 as the price eased by 15 cents; Grace Kennedy 32,000 shares to close at $56.00, down by 30 cents; Jamaica Broilers 31,531 units at $4.75 for a 25 cents fall; Jamaica Producers 480 units to close at $18.75, off by $1.05; and Pan Jamaican Investment Trust with only 554 shares to close down $1.01 at $48.99,

Firm traders | Cable & Wireless with 337,583 units at 25 cents; Carreras 55,258 units at $33.99; Jamaica Money Market Brokers with 3,900 ordinary shares at $7.49; Jamaica Money Market Brokers 8.75% preference share with 3,214,000 units at $3 and the 7.50% preference share with 260,400 units at $2; Mayberry Investments 6,797 shares at $2; Sagicor Real Estate X Fund 3,000 shares at $6.50; Salada Foods 8,950 shares at $9 and National Commercial Bank 59,462 units at $18.

The JSE Junior Market Index declined by 1.20 points to close at 781.79 with no stock recording a loss.

Junior market gainers | Lasco Financial 100,000 shares $1.40, up by 10 cents; 1,690 shares of Knutsford Express closing at $5.16, up 4 cents for a record high; Lasco Distributors 790,200 units at $1.42 for a cent gain and Lasco Manufacturing gained a cent to close at $1.33 with 61,905 units.

Firm trades | Blue Power 5,000 units at $9.80; Caribbean Producers at $2.75 with 171,045 shares and KLE Group with 4,900 at $1.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with bids higher than the last selling prices and 3 stocks with offers that were lower.

Filed Under: JSE Main Market, Stock Market Tagged With: Daily Trading, Jamaican Stock, JSE Company, Trading Activity

JSE: Big day with 21 stocks gaining

January 29, 2014 by IC Insider.com

Wednesday, 29th January 2014 | Nearly a third of the stocks listed recorded gains on Jamaica stock market as investors woke up to the news that Sagicor Group were to acquire RBC Royal Bank‘s Jamaica operations. It was, however, not a big day for volume or the value of stocks traded as 6,325,652 shares changed hands at a value of $46,429,845. Trading resulted in the indices gaining across the board.

The main market had one of its best days for some time with advancing stocks out numbering declining stocks by a good margin. Activity seems to have been stirred by the announcement of the takeover of RBC Jamaican operations leading to the JSE Market Index advancing by 972.98 points to 80,540.48 and the JSE All Jamaican Composite moving up by 1,475.93 points to close at 82,580.18.

Main market gains | The main market recorded the bulk of the stocks to record gains with Berger Paints posting 6,088 shares to close at $1.86 for a cent increase; Barita Investments 17,000 shares to close at $2.60, up 10 cents; Cable & Wireless 2,126,000 for a gain of 3 cents to close at a new 52 weeks high of 25 cents; Desnoes & Geddes 20,180 units as the price put on 15 cents to close at $5.15; Gleaner Company 58,932 units to close 2 cents up at $1.12; Jamaica Broilers 334,018 shares as the price closed up 24 cents at $5; Jamaica Money Market Brokers had only 600 units but the price closed at $7.49 put on 9 cents; Jamaica Producers 9,000 at $19.80 up $1.05; Kingston Wharves 49,000 units as the price gained 44 cents to end at $6; Mayberry Investments 100,000 as the price moved up by 17 cents at $2.

National Commercial Bank 326,899 units to close 20 cents up at $18; Pan Jamaican Investment Trust 169,554 shares gaining $1.80 to close at $50; Sagicor Investments with 186,619 shares to close at $18.5 for $1.83 gain; Proven Investments ordinary shares traded 8,236 and reached an all-time high of US18 cents for a 2 cent increase; Radio Jamaica 15,000 shares at $1.6 to close up by 8 cents. Sagicor Group 12,900 shares as the price gained 90 cents to close at $9 pushed by the news of RBC takeover; the bid at the close was at $9.80. Scotia Investments traded 200,100 and gained $1.25 to end at $26.25; Seprod with 12,500 shares closed at $10.90 up by 10 cents; Supreme Ventures 10,000 units closing at $$2.30 for 10 cents gain.

Losers | The losers were few with Caribbean Cement trading 578,900 shares and lost a cent to end at $5; Scotia Group 420,404 units to close at $20.40 down 10 cents; Grace Kennedy with 77,523 shares to close at $56.30, a fall of 70 cents.

The JSE Junior Market Index advanced by 8.54 points to close at 782.99 but only two stocks recorded gains for the day.

Junior market gains | Stocks to record gains are Caribbean Producers Jamaica 343,300 at a new 52 weeks high of $2.75, up by 5 cents; Access Financial 10,000 units at $11, a gain of $1.

Losers | The junior market suffered more declining than rising prices as AMG Packaging traded 5,854 units to close at $3.45 down 3 cents; Consolidated Bakeries 3,000 shares at $1.15 down 2 cents; Dolphin Cove 20,000 shares to close at $8.90, a loss of 10 cents; General Accident 22,670 shares at $1.80 for a decline of 5 cents; Lasco Distributors 128,800 shares closing at $1.41, off by a cent; Lasco Financial 480,544 units at $1.30 down by 5 cents; Lasco Manufacturing 128,000 shares down a cent at $1.32.

Firm trades | Derrimon Trading was the only stock to trade firm in the junior market with 2,000 units at $2.35.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had only 7 stocks with bids higher than the last selling prices and 2 stocks with offers that were lower.