Chairman of Lasco Affiliated Companies, Lascelles Chin is calling on small and medium sized companies to consider listing on the Junior Market of the Jamaica Stock Exchange.

Speaking at last week’s JSE Stakeholder Engagement Session, Chin identified several challenges and achievements his three companies have made since being listed on the JSE.

He says “the three LASCO Companies are among the top ten companies on the JSE for 2015. Lasco Financial Services Limited grew by 264.29%. Lasco Distributors Limited grew by 245.52% and Lasco Manufacturing Limited grew by 192.86%”.

He says the growth and improved performance experienced by Lascos Financial, Distributors and Manufacturing are testament to the benefits of being listed.

“Market capitalization for the companies is now in excess of $40B. Our value (market capitalization) went up to $60B but with the stock market movement, this is now at $40B. Of course, we expect it to increase. This has placed LASCO in the top 4 companies on the Stock Market with the companies ahead us being National Commercial Bank, Scotia Group Limited & Sagicor Group Limited,” the Lasco Chairman went on to say

Chin says other SMEs need to follow the example of the 23 companies already listed as the over 3.4 billion dollars in capital these companies have raised, is indicative of economic growth.

While he has also called on the relevant authorities to reconsider putting an end to the tax incentive offered by listing on the Junior Market, “that is only one of many benefits, but it is the most attractive and most talked about”, Chin says SMEs need not worry about a loss to their revenue stream.

He says “LASCO’s 90 percent growth in revenue in the years following listing on the JSE, has led to higher non-corporation tax payments to the GOJ. The taxes from increased employment, production and sales makes up for that temporary loss. The tax is recovered”.