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BOOM! Jamaican Energy Drink Poised for Regional Growth

“Dominica was our first test of the potential response of Caricom to the product and was selected based on the strength of our distributor partner there. We are happy that we have done much better than projected. This month we will export our eighth shipment of BOOM to that market,” said William Mahfood, Managing Director of one of Jamaica’s leading manufacturing and distributing companies.

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BOOM energy drink has been doing well in the island of Dominica and is in demand in other Caribbean countries. As a result, Wisynco Group Ltd, makers of BOOM, Jamaica’s first locally created energy drink, is in talks to distribute the product in five other countries before the end of the year.

William Mahfood, Managing Director Wisynco Group

Since the first batch of BOOM rolled off the production line in Jamaica in January 2010, the local market, buoyed by the affordable price and the distinctive taste, has been steadily growing. Wisynco has found that the product’s brand appeal has been transferable to the Dominican market.

“Dominica was our first test of the potential response of Caricom to the product and was selected based on the strength of our distributor partner there. We are happy that we have done much better than projected. This month we will export our eighth shipment of BOOM to that market,” said William Mahfood, Managing Director of one of Jamaica’s leading manufacturing and distributing companies.

The Wisynco head said the drink is another indication of the local manufacturing sector’s capacity to create innovative, high quality products which have wider appeal beyond the Jamaican market.

“Similarities in both markets, plus the branding of the product have made it well liked in Dominica. In Dominica there is a similar home grown product which made it easy to transfer preferences to BOOM. The Wisynco research and development team took time to develop a product that could meet a need in Jamaica while also having potential for export,” Mr. Mahfood said.

Wisynco developed BOOM as a unique, high quality brand with a taste preferred by Jamaicans, at a price that is highly affordable.

“The drink has done well, yet we are still just scratching the surface.  Dominicans like the price, the packaging and the quantity in each bottle. They find it to be good quality for money,” said Yvor Nassief CEO of Archipelago Trading Ltd, Wisynco’s Dominican distribution partner.

The island of Dominica is a member of the Organization of Eastern Caribbean States, and is a signatory to the CARIFORUM Economic Partnership Agreement (EPA) Negotiations. The island, with a population of 72,000 had a GDP of US$639M in 2008 with imports of $645M.  According to the World Trade Organization’s statistics website, Dominica and Jamaica did US$10M in trade in 2008.

 

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

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JSE Online Trading Platform

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Grace Stockholders To Vote On 3-for-1 Stock Split Today

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Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

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UK Loses S&P Triple A Rating

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The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

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Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

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Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.

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