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The 2023 Businessuite Millionaire Index (BMI)

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1 year ago

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The Businessuite Millionaire Index BMI is an annual ranking of Jamaica’s leading Business executives and entrepreneurs based on the US$ value of their equity holdings in publicly listed companies.

These high-level executives and entrepreneurs acquire a significant stake in the shares of the public company they lead, which aligns their personal risk/reward with that of other shareholders.

The goal behind these executives putting ‘skin in the game’ is to create a corporation that is managed by like-minded individuals whose goal is to improve the company.

The figures are updated at the close of business on the last trading day on the Jamaica Stock Exchange in December.

Stakes in publicly traded companies are valued using the share’s closing price on the last trading day in December. Valuations are converted to U.S. dollars at exchange rates on the same December date.

Businessuite strives to provide the most transparent calculations available, and each individual millionaire profile contains a detailed analysis of how that person’s fortune is tallied. Publicly available profile information is also provided to enhance the reporting.

The Businessuite Millionaire Index (BMI) is presented along with The Businessuite Skin Index (BSI)

BMI Rank Securities Executive/Director Holdings Units Value US$ Skin Index
1 NCB Financial Group Limited Michael Lee Chin      1,505,334,073 $789,880,986.43 61.02%
2 Barita Investments Limited Paul Simpson        909,424,571 $604,852,419.10 74.52%
3 Guardian Holdings Limited Michael Lee-Chin        143,335,673 $546,260,603.41 61.78%
4 Wisynco Group Limited William Mahfood      2,782,779,755 $322,840,995.18 74.08%
5 Wisynco Group Limited Andrew Mahfood      2,781,467,722 $322,688,781.18 74.05%
6 Seprod Limited Paul B. Scott        366,772,031 $170,973,125.76 50.00%
7 PanJam Investment Limited Stephen B. Facey        452,539,942 $170,041,119.46 42.45%
8 PanJam Investment Limited Paul Facey        412,964,267 $155,170,626.37 38.73%
9 Pulse Investments Limited Kingsley Cooper      4,816,704,385 $100,565,821.57 73.84%
10 Lasco Manufacturing Limited Lascelles A. Chin      3,247,122,250 $89,967,237.05 78.57%
11 Jamaica Broilers Group Limited Robert E. Levy        346,456,695 $70,515,395.27 28.89%
12 Fontana Limited Kevin O’Brien Chang        978,692,597 $57,381,388.75 78.33%
13 Fontana Limited Shinque (Bobby) Chang        977,946,747 $57,337,659.07 78.27%
14 Fontana Limited Anne Chang        977,946,747 $57,337,659.07 78.27%
15 FosRich Company Limited Cecil Foster      2,009,102,220 $51,576,525.68 40.00%
16 FosRich Company Limited Marion Foster      2,009,102,220 $51,576,525.68 40.00%
17 Lasco Distributors Limited Lascelles A. Chin      2,670,286,708 $45,407,851.21 76.06%
18 NCB Financial Group Limited Patrick Hylton          75,324,136 $39,524,185.30 3.05%
19 Express Catering Limited Ian B. Dear      1,070,221,961 $36,116,883.66 65.36%
20 Guardian Holdings Limited Nicholas Lok Jack            9,426,638 $35,925,466.80 4.06%
21 NCB Financial Group Limited Dennis Cohen          68,088,825 $35,727,662.86 2.76%
22 Guardian Holdings Limited Imtiaz Ahamad            9,358,621 $35,666,250.05 4.03%
23 Massy Holdings Ltd Robert Bermudez          62,660,360 $32,899,801.25 3.17%
24 Caribbean Producers Jamaica Limited Mark Hart        377,217,157 $28,679,613.20 34.29%
25 Mayberry Investments Limited Christopher Berry        471,767,644 $27,164,457.60 39.28%
26 Mayberry Investments Limited Konrad Berry        469,964,310 $27,060,621.33 39.13%
27 Eppley Limited Paul. B. Scott          99,387,684 $25,135,766.98 51.64%
28 Mailpac Group Limited Khary Robinson      1,820,925,211 $24,149,979.75 72.84%
29 Mailpac Group Limited Garth Pearce      1,815,000,000 $24,071,396.78 72.60%
30 General Accident Insurance Company Limited Paul B. Scott        824,999,989 $23,887,231.85 80.00%
31 Salada Foods Jamaica Limited Kathryn Lewis        824,534,775 $22,574,509.60 79.37%
32 Salada Foods Jamaica Limited Donovan A. Lewis        814,698,445 $22,305,205.82 78.42%
33 Stationery and Office Supplies Limited David McDaniel        200,096,400 $22,228,641.75 80.00%
34 Stationery and Office Supplies Limited Marjorie McDaniel        200,096,400 $22,228,641.75 80.00%
35 Indies Pharma Jamaica Limited Guna S. Muppuri      1,042,858,249 $22,115,720.66 78.26%
36 Indies Pharma Jamaica Limited Vishnu Muppuri      1,042,858,249 $22,115,720.66 78.26%
37 Access Financial Services Limited Marcus James        130,202,584 $21,713,338.99 47.43%
38 JMMB Group Limited Keith P. Duncan          88,617,376 $19,171,124.95 4.53%
39 JMMB Group Limited Donna Duncan-Scott          81,791,863 $17,694,521.06 4.18%
40 Barita Investments Limited Rita Humphries Lewin          26,319,240 $17,504,756.84 2.16%
41 Future Energy Source Company Limited Hugh Coore        467,914,110 $16,712,381.23 18.72%
42 Jamaica Producers Group Limited Marshal McGowan Hall 112,178,507 $16,166,554.58 10.00%
43 Eppley Limited Melanie Subratie          62,855,079 $15,896,442.66 32.66%
44 Future Energy Source Company Limited Trevor Barnes        443,970,803 $15,857,203.62 17.76%
45 Future Energy Source Company Limited Errol McGaw        443,077,839 $15,825,309.82 17.72%
46 Derrimon Trading Company Limited Derrick Cotterell      1,125,531,673 $15,814,111.15 24.83%
47 Paramount Trading (Jamaica) Limited Hugh Graham      1,233,966,840 $15,798,337.71 80.00%
48 Caribbean Producers Jamaica Limited Thomas Tyler        200,628,078 $15,253,642.54 18.24%
49 Jamaica Producers Group Limited Charles. H. Johnston        105,157,263 $15,154,691.19 9.37%
50 Tropical Battery Company Limited Alexander Melville      1,016,250,000 $14,745,724.82 78.17%
51 Future Energy Source Company Limited Lyden Heaven        411,454,298 $14,695,819.04 16.46%
52 Lasco Financial Services Limited Lascelles A. Chin        763,704,332 $14,440,792.73 59.65%
53 Tropical Battery Company Limited Daniel Melville        980,000,000 $14,219,739.56 75.38%
54 Tropical Battery Company Limited Marc Melville        975,000,000 $14,147,189.86 75.00%
55 The Limners and Bards Limited Kimala Bennett        730,181,394 $13,231,623.57 77.21%
56 Mayberry Jamaican Equities Limited Christopher Berry        149,082,024 $12,881,144.80 12.41%
57 Main Event Entertainment Group Limited Solomon Sharpe        209,519,590 $12,366,808.05 69.84%
58 Main Event Entertainment Group Limited Richard Bair        209,519,590 $12,366,808.05 69.84%
59 Regency Petroleum Company Limited Andrew Williams      1,148,629,416 $11,990,860.52 80.00%
60 Massy Holdings Ltd E Gervase Warner          21,314,077 $11,190,949.07 1.08%
61 Spur Tree Spices Jamaica Limited Harrinarine Mohan Jagnarine        522,951,387 $11,055,807.89 31.18%
62 Spur Tree Spices Jamaica Limited Rani-Devi Badaloo        522,951,387 $11,055,807.89 31.18%
63 Jamaican Teas Limited John Mahfood        579,140,902 $9,696,113.96 26.83%
64 Dolla Financial Services Limited Kadeen Mairs        502,346,430 $9,498,807.81 20.09%
65 Cargo Handlers Limited Mary Jane Fray        112,911,980 $9,259,248.81 27.13%
66 Cargo Handlers Limited Mark Hart        109,911,980 $9,013,236.41 26.41%
67 Pulse Investments Limited Hilary Phillips        428,506,464 $8,946,595.26 6.57%
68 Future Energy Source Company Limited Junior Williams        232,738,750 $8,312,676.70 9.31%
69 Berger Paints (Jamaica) Limited Adam Sabga        116,023,364 $8,074,666.82 54.13%
70 Mayberry Jamaican Equities Limited Konrad Berry          92,406,639 $7,984,217.45 7.69%
71 Dolla Financial Services Limited Ryan Reid        417,100,000 $7,886,893.39 16.68%
72 Dolla Financial Services Limited Michael Banbury        411,000,000 $7,771,549.23 16.44%
73 GraceKennedy Limited Donald G. Wehby          13,188,477 $7,206,023.11 1.33%
74 Caribbean Flavours & Fragrances Limited Derrick Cotterell        584,653,270 $6,986,232.97 65.02%
75 Knutsford Express Services Limited Oliver Townsend        168,605,680 $6,982,761.50 23.93%
76 ISP Finance Services Limited Dennis Smith          54,517,500 $6,260,356.06 51.92%
77 JMMB Group Limited Wayne Sutherland          28,678,438 $6,204,177.37 1.47%
78 JMMB Group Limited Patricia Sutherland          28,678,438 $6,204,177.37 1.47%
79 Palace Amusement (1921) Company Limited Charles “Douglas” Graham            1,070,248 $5,972,781.72 74.48%
80 Proven Group Limited Peter Bunting          31,720,643 $5,848,067.52 4.18%
81 Blue Power Group Limited Dhiru Tanna        283,108,000 $5,687,833.32 50.11%
82 Derrimon Trading Company Limited Monique Cotterell        400,000,000 $5,620,139.01 8.82%
83 Everything Fresh Limited Courtney Pullen        624,000,000 $5,571,816.32 80.00%
84 Spur Tree Spices Jamaica Limited Albert Bailey        260,473,912 $5,506,725.10 15.53%
85 Jamaica Producers Group Limited Katherine .A.J. Moss          37,610,468 $5,420,215.51 3.35%
86 Eppley Caribbean Property Fund Limited SCC Nicholas A. Scott          17,483,042 $5,396,106.90 12.82%
87 Eppley Caribbean Property Fund Limited SCC Melanie M. Subratie          17,426,411 $5,378,627.85 12.77%
88 ISP Finance Services Limited Sunfisher Corporation          45,832,500 $5,263,039.74 43.65%
89 Eppley Caribbean Property Fund Limited SCC Paul B. Scott          17,007,932 $5,249,465.12 12.47%
90 Knutsford Express Services Limited Anthony Copeland        119,633,320 $5,091,594.64 17.45%
91 Sagicor Group Jamaica Limited R. Danny Williams          12,500,000 $4,670,591.57 0.32%
92 Caribbean Cream Limited Matthew G. Clarke        182,590,874 $4,627,427.94 48.23%
93 Caribbean Cream Limited Carol Webster        181,557,213 $4,601,231.72 47.96%
94 Mayberry Investments Limited Gary Peart          76,478,120 $4,403,622.58 6.37%
95 Jamaica Producers Group Limited Jeffrey. McGowan. Hall          30,199,687 $4,352,214.17 2.69%
96 Margaritaville (Turks) Limited Ian B. Dear          33,163,445 $4,256,765.18 49.13%
97 Caribbean Cream Limited Christopher A. Clarke        158,168,848 $4,008,496.87 41.78%
98 Barita Investments Limited James Godfrey            6,000,000 $3,990,561.32 0.49%
99 CAC 2000 Limited Steven Marston          67,462,522 $3,756,053.05 52.28%
100 Radio Jamaica Limited Joseph M. Matalon        243,635,007 $3,711,085.57 10.06%
101 Elite Diagnostics Limited Warren A. Chung        174,128,149 $3,601,246.34 49.27%
102 One On One Ricardo Allen        432,921,851 $3,496,132.72 22.79%
103 Future Energy Source Company Limited Jeremy Barnes          95,284,475 $3,403,253.80 3.81%
104 Dolphin Cove Limited Stafford Burrowes          37,505,068 $3,363,674.39 9.56%
105 Edufocal Limited Gordon Swaby        228,013,336 $3,323,429.85 35.16%
106 JFP Limited Stephen Sirgany        280,560,000 $3,168,308.72 25.05%
107 JFP Limited Metry Seaga        279,720,000 $3,158,822.76 24.98%
108 JFP Limited Richard Sirgany        279,720,000 $3,158,822.76 24.98%
109 FosRich Company Limited Peter Knibb        120,602,440 $3,096,037.02 2.40%
110 AMG Packaging & Paper Company Limited Antonia Hugh        161,758,590 $3,079,914.38 31.60%
111 Honey Bun (1982) Limited Herbert Chong          54,091,000 $2,837,560.19 11.48%
112 Honey Bun (1982) Limited Michelle Chong          51,691,000 $2,711,658.57 10.97%
113 Proven Group Limited Hugh Cecil Hart  14,172,821 $2,612,923.52 1.87%
114 Proven Group Limited Christopher C. Williams          13,936,626 $2,569,378.24 1.84%
115 Stanely Motta Limited Melanie Subratie          75,782,849 $2,557,451.11 10.00%
116 Jetcon Corporation Limited Andrew B. Jackson        354,711,298 $2,445,330.77 60.79%
117 Spur Tree Spices Jamaica Limited Anand James        115,000,000 $2,431,235.37 6.86%
118 AMG Packaging & Paper Company Limited George Hugh        125,035,763 $2,380,704.75 24.43%
119 Derrimon Trading Company Limited Ian Kelly        169,107,209 $2,376,015.05 3.73%
120 Jamaica Broilers Group Limited Christopher Levy  11,235,763 $2,286,849.35 0.94%
121 138 Student Living Jamaica Limited John Lee          68,803,832 $2,258,686.33 16.60%
122 Barita Investments Limited Phillip Lee 3,161,072 $2,102,408.61 0.26%
123 Lumber Depot Limited Melanie Subratie        116,189,064 $2,052,063.64 16.45%
124 Lumber Depot Limited Paul Scott        116,189,064 $2,052,063.64 16.45%
125 Lumber Depot Limited Dhiru Tanna        116,189,064 $2,052,063.64 16.45%
126 Massy Holdings Ltd Vaughn Martin            3,811,148 $2,001,041.99 0.19%
127 Seprod Limited Richard R. Pandohie            3,998,231 $1,863,800.93 0.55%
128 Kingston Properties Limited Garfield Sinclair          36,118,806 $1,837,842.88 4.08%
129 Elite Diagnostics Limited Neil A. Fong          86,814,897 $1,795,469.78 24.57%
130 IronRock Insurance Company Limited W. David McConnell        112,231,000 $1,731,625.56 52.44%
131 IronRock Insurance Company Limited R. Evan Thwaites        110,700,000 $1,708,003.58 51.73%
132 Guardian Holdings Limited Brent Ford               436,070 $1,661,888.18 0.19%
133 Medical Disposables & Supplies Limited Kurt Boothe          51,154,333 $1,602,042.74 19.44%
134 Consolidated Bakeries (Jamaica) Limited Anthony Chang        144,766,424 $1,577,790.10 65.00%
135 GraceKennedy Limited Frank A. R. James            2,869,234 $1,567,714.49 0.29%
136 Medical Disposables & Supplies Limited Myrtis Boothe          50,000,000 $1,565,891.53 19.00%
137 Medical Disposables & Supplies Limited Winston Boothe          50,000,000 $1,565,891.53 19.00%
138 Medical Disposables & Supplies Limited Nikeisha Boothe          50,000,000 $1,565,891.53 19.00%
139 Barita Investments Limited Mark Myers            2,316,302 $1,540,557.53 0.19%
140 CAC 2000 Limited Colin Roberts          27,355,291 $1,523,037.11 21.20%
141 iCreate Limited Tyrone Wilson        130,951,563 $1,521,798.83 42.44%
142 Massy Holdings Ltd David O’Brien            2,847,600 $1,495,131.44 0.14%
143 Proven Group Limited Garfield Sinclair            7,945,278 $1,464,803.92 1.05%
144 Seprod Limited Patrick Scott            3,000,000 $1,398,469.17 0.41%
145 Barita Investments Limited Carl Domville            2,061,344 $1,370,986.60 0.17%
146 PanJam Investment Limited Paul Hanworth            3,522,322 $1,323,506.55 0.33%
147 Caribbean Assurance Brokers Limited Raymond Walker        107,100,000 $1,321,967.00 40.80%
148 Stanley Motta Limited Jennifer Scott          37,891,425 $1,278,725.57 5.00%
149 Sagicor Group Jamaica Limited Mark Chisholm            3,304,485 $1,234,711.98 0.08%
150 Access Financial Services Limited Neville James 7,181,722 $1,197,665.66 2.62%
151 Guardian Holdings Limited Paul Traboulay 313,081 $1,193,169.94 0.13%
152 AMG Packaging & Paper Company Limited Michelle Chin          61,893,060 $1,178,455.66 12.09%
153 Massy Holdings Ltd Ian Chinapoo            2,191,589 $1,150,693.08 0.11%
154 Future Energy Source Company Limited Vernon James          31,500,000 $1,125,078.29 1.26%
155 Massy Holdings Ltd David Affonso            2,098,977 $1,102,067.18 0.11%
156 Massy Holdings Ltd Julie Avey            2,060,378 $1,081,800.79 0.10%
157 Paramount Trading (Jamaica) Limited Radcliff Knibbs          83,560,404 $1,069,814.39 5.42%
158 Jamaica Broilers Group Limited Ian Parsard            4,952,925 $1,008,084.04 0.41%

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RANKING

Businessuite 2023 Top 100 Caribbean Companies – US$ Revenue  

Published

6 months ago

on

October 15, 2023

By

Businessuite 2023 Top 100 Caribbean Companies – US$  Revenue       
US$000 US$000
2023 Company 2022 2021
1 TT Massy Holdings Limited $1,824,063 $1,653,484
2 TT Guardian Holdings Limited $1,068,271 $1,041,146
3 JA NCB Financial Group Ltd. $997,548 $780,871
4 TT ANSA Mc Al Limited $962,452 $887,023
5 JA GraceKennedy Limited $953,105 $833,773
6 TT Republic Financial Holdings Limited $900,276 $862,188
7 JA Sagicor Group Jamaica Limited $647,516 $661,298
8 JA Jamaica Broilers Group Limited $609,247 $479,660
9 TT Agostini’s Limited $604,219 $536,127
10 BB First Caribbean International Limited $599,280 $543,052
11 JA Seprod Limited $523,017 $282,954
12 BB Goddard Enterprises Limited $484,416 $378,583
13 JA Supreme Ventures Limited $339,186 $283,530
14 TT First Citizens Group Limited $315,429 $318,201
15 JA Productive Business Solutions Limited $311,997 $223,997
16 TT Trinidad Cement Limited $304,016 $281,801
17 JA Scotia Group Jamaica Ltd. $285,363 $243,780
18 TT Scotiabank Trinidad & Tobago Limited $279,948 $257,089
19 JA Wisynco Group Limited $260,368 $205,148
20 JA JMMB Group Limited $240,488 $176,396
21 JA Jamaica Producers Group Limited $193,387 $161,330
22 GY Banks DIH Ltd. $190,431 $179,335
23 EC  The West Indies Oil Company Ltd. $181,450 $123,036
24 JA Caribbean Cement Company Limited $172,289 $153,717
25 TT Prestige Holdings Limited $162,997 $105,811
26 JA Lasco Distributors Limited $155,619 $130,802
26 TT Angostura Holdings Limited $151,904 $136,939
27 GY Demerara Distillers Ltd. (Group) $150,868 $138,271
28 EC St. Lucia Electricity Services Ltd. $147,634 $109,179
29 JA Derrimon Trading Company Limited $122,831 $114,416
30 JA Caribbean Producers Jamaica Ltd. $119,960 $58,178
31 JA Carreras Limited $108,195 $101,586
32 TT The West Indian Tobacco Company Limited $106,798 $126,635
33 TT ANSA Merchant Bank Limited (Group) $106,335 $171,745
34 JA General Accident Insurance Co Ja $100,785 $90,011
35 EC Grenada Electricity Services Limited $88,601 $66,027
36 JA Future Energy Source Company $84,494 $37,764
37 TT National Flour Mills Limited $78,585 $65,624
38 GY Republic Bank Guyana Ltd. $65,024 $59,504
39 JA Transjamaican Highway Limited $65,006 $52,755
40 JA Lasco Manufacturing Limited $63,223 $52,990
41 JA Kingston Wharves Limited $63,191 $55,929
42 JA Barita Investments Limited $59,692 $52,333
43 EC S. L. Horsford & Co Ltd. $54,629 $48,501
44 TT PLIPDECO Limited $53,667 $47,567
45 TT One Caribbean Media Limited $48,400 $45,715
46 JA Mayberry Investments Limited $46,423 $28,923
47 JA Proven Investments Jamaica Limited $45,971 $29,498
48 TT National Enterprises Limited $45,157 $4,945
49 JA Fontana Limited $42,297 $33,219
50 EC Dominica Electricity Services $41,567 $34,092
51 EC St. Kitts Nevis Anguilla Trading & Development Company $40,298 $42,856
52 TT Unilever Caribbean Limited $37,780 $34,649
53 JA Mayberry Jamaican Equities Limited $36,317 $18,465
54 JA Radio Jamaica Limited $36,252 $36,825
55 BB Insurance Corporation Of B’DOS Limited $36,092 $52,196
56 BB West India Biscuit Compant Limited $33,545 $30,712
57 GY Guyana Bank for Trade & Industry Ltd. $32,302 $27,787
58 GY Demerara Bank Limited $30,279 $27,104
59 EC East Caribbean Financial Holding Company $29,691 $27,271
60 EC Republic Bank (Grenada) Limited $25,499 $24,169
61 TT Trinidad and Tobago NGL Limited $24,820 $28,881
62 EC St. Kitts-Nevis-Anguilla National Bank Ltd. $23,418 $22,971
63 EC Grenada Co-operative Bank Ltd. $23,220 $21,265
64 GY Sterling Products Limited $22,800 $20,046
65 TT LJ Williams Limited $22,536 $22,483
66 JA FosRich Company Limited $22,492 $15,160
67 JA Berger Paints Jamaica Limited $21,977 $20,041
68 GY Citizens Bank Guyana Inc. $21,796 $18,034
69 EC Bank of St. Vincent and the Grenadines $20,158 $18,811
70 JA Honey Bun (1982) Limited $19,693 $13,833
71 JA Everything Fresh Limited $17,597 $10,412
72 JA Tropical Battery Company Limited $17,506 $12,877
73 TT Guardian Media Limited $17,373 $15,559
74 JA Lasco Financial Services Limited $16,750 $14,785
75 JA Jamaican Teas Limited $16,464 $14,638
76 JA Victoria Mutual Investments Limited – Group $15,918 $11,968
77 JA PanJam Investment Limited $15,677 $27,716
78 BB Cave Shepherd & Company Limited $15,536 $13,833
79 JA Dolphin Cove Limited $15,114 $7,640
80 JA Wigton Windfarm Limited $14,793 $13,213
81 JA Key Insurnace Company Limited $14,787 $12,347
82 JA Express Catering Limited $14,241 $4,412
83 JA Caribbean Cream Limited $13,907 $12,059
84 JA Access Financial Services Ltd. Group $13,193 $11,729
85 JA Stationery & Office Supplies Limited $11,657 $7,253
86 TT Endeavour Holdings Limited $11,621 $12,586
87 JA Paramount Trading (Jamaica) Limited $11,449 $9,269
88 JA Mailpac Group Limited $11,246 $11,734
89 JA Lumber Depot Limited $10,495 $9,216
90 JA Main Event Entertainment Group Ltd $10,329 $4,890
91 JA Sygnus Credit Investments Limited – Group $9,773 $11,125
92 JA First Rock Real Estate Investments Limited $9,359 $5,300
93 JA Consolidated Bakeries Jamaica Limited $9,111 $6,962
94 JA The Limners and Bards Limited $8,967 $7,913
95 JA Salada Foods Jamaica Limited $8,912 $7,671
96 JA 138 Student Living Jamaica Limited $7,908 $5,243
97 JA Jamaica Stock Exchange Limited $7,566 $6,435
98 JA Knutsford Express Limited $7,426 $4,058
99 JA CAC 2000 Limited $7,407 $6,744
100 JA IronRock Insurance Company Limited $7,363 $5,682
101 JA Spur Tree Spices Jamaica Limited $6,858 $5,543
102 JA AMG Packaging & Paper Company $6,640 $4,552
103 JA Indies Pharma Jamaica Limited $6,250 $5,460
104 JA Pulse Investments Limited $6,205 $5,204
105 JA Portland JSX Limited $5,584 $3,067
106 JA Image Plus Consultants Limited $5,184
107 JA Caribbean Flavours & Fragrances Ltd $5,149 $4,344
108 JA Dolla Financial Services Limited $4,933 $2,444
109 JA Regency Petroleum Co. Limited $4,542
110 JA Sygnus Real Estate Finance Limited – Group $4,425 $6,940
111 JA Palace Amusement Company (1921) Limited $4,328 $682
112 JA Elite Diagnostic Limited $4,162 $3,268
113 JA Blue Power Group Limited $3,510 $3,443
114 JA Kingston Properties Limited – Group $3,481 $3,133
115 JA Caribbean Assurance Brokers Limited $3,374 $2,986
116 JA Stanley Motta Limited $3,330 $3,176
117 JA JFP Limited $3,177 $1,507
118 JA Cargo Handlers Limited $3,150 $2,175
119 JA Eppley Limited $2,923 $2,493
120 JA ISP Financial Services Limited $2,876 $2,799
121 JA Magaritaville Ltd $2,618 $48
122 JA Ttech Limited $2,495 $2,529
123 JA One On One Educatinal Services Limited $1,780 $1,733
124 TT CinemaONE Limited $1,433 $308
125 JA Edufocal Limited $1,250 $1,194
126 JA GWEST Corporation Limited $975 $729
127 JA Sterling Investments Limited $830 $1,892

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Businessuite 2023 #1 Caribbean Company by US$ Profit after Tax – National Enterprises Limited

Published

6 months ago

on

October 15, 2023

By

Businessuite 2023  #1 Caribbean Company By            US$ Profit after Tax
US$000 US$000
2023 Company 2022 2021
1 TT National Enterprises Limited $292,000 -$40,183

National Enterprises Limited (NEL) is an investment holding company incorporated on August 27, 1999 by the Government of the Republic of Trinidad and Tobago. NEL was formed to consolidate the Government’s shareholding in selected State Enterprises and facilitate public offerings on the Trinidad and Tobago Stock Exchange.

NEL has invested in industries that drive the economy of Trinidad and Tobago: natural gas and energy-based manufacturing, telecommunications, power generation, and the marketing and manufacturing of basic foods.

NEL holds significant shareholding in the following companies:

• NGC NGL Company Limited (NGC NGL);
• NGC Trinidad and Tobago LNG Limited (NGC LNG);
• Telecommunications Services of Trinidad and Tobago Limited (TSTT);
• Trinidad Nitrogen Co. Limited (TRINGEN);
• National Flour Mills Limited (NFM);
• NEL Power Holdings Limited (NPHL); and
• Pan West Engineers and Constructors, LLC (Pan West).

Through NEL, individual and corporate investors can share in the financial stability and staying power of these enterprises. Today, over 5,000 citizens who will continue to benefit from our consistent dividend payments own 100 million of the 600 million issued shares in NEL.

As of September 30, 2022, the fair market value of National Enterprises Limited’s (NEL) equity investments in subsidiaries, joint ventures and associate companies based on IFRS 9, was TT$3.42 Billion, an increase of 92% compared to the $1.78 Billion as of March 31, 2021, the last reporting date.

NEL’s Financial Position
For the financial period ended September 30, 2022 (FY2022), NEL recorded a net profit of $1.98 Billion, an increase of over $2 Billion as compared to the previous financial year (FY2021), where NEL recorded a loss of $270 Million.

NEL’s increased net profit over the eighteen-month financial period ended September 30, 2022 includes the unrealized fair value gain of $1.7 Billion from NEL’s portfolio companies in the energy sector.

NEL Power Holdings increased by $21.3 Million or 19.7% over its value as of March 31, 2021. This was offset by declines in the fair values of Telecommunications Services of Trinidad and Tobago Limited (TSTT) and National Flour Mills Limited (NFM).

NEL also registered an operating profit of $297 Million in FY2022 versus the $28 Million recorded in financial year ended March 31 2021 (FY2021).

Management has continued with prudent cost management practices while pursuing operational efficiencies. Operating expenses in FY22 have remained consistent at $8.8 Million for the eighteen-month period compared to $4.99 Million for the twelve-month FY2021.

Charles Maynard
General Manager National Enterprises Limited

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Businessuite 2023  #1  Trinidad and Tobago Company by US$ Profit after Tax – National Enterprises Limited

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Businessuite 2023 #1 Caribbean Company By US$ Revenue  – Massy Holdings Limited

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6 months ago

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October 15, 2023

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Businessuite 2023 #1 Caribbean Company by US$  Revenue  
US$000 US$000
2023 Company 2022 2021
1 TT Massy Holdings Limited $1,824,063 $1,653,484

2022 was the 99th year of operations for the Massy Group of Companies, formerly Neal & Massy. Given the tumultuous environment in the world today, coupled with the success the Group has experienced in focusing on its three main Portfolios and success in international expansion, we have created a new vision for the Massy Group as it approaches 100 years of operations:

“A Global Force For Good, An Investment Holding Company with a Caribbean Heart”

Several developments have inspired this new vision. First, we are called to expand our sphere of influence beyond the Caribbean Basin. We recognise that our Purpose and Values resonate with people from diverse backgrounds, religions, and races.

The Group has never been more profitable and our Balance Sheet has never been stronger.

Operating Profit from Business Units grew by 25 percent from TT$961 million (US$143 million) in FY2021 to TT$1.2 billion (US$178 million) in FY2022.

Profit Before Tax (PBT) from Continuing Operations grew by 11 percent from FY 2021 to FY 2022; growth was impacted by the underperformance of the overseas cash investments held by the Group in FY2022 compared to the significant gains produced in those investments in FY 2021.
The Group’s Debt to Equity is down to 25 percent and in addition to its TT$1.2 billion in cash at the end of the year, the Group has US$176 million invested overseas to fund acquisitions and growth initiatives.

The Group’s governance has been strengthened with the creation of Portfolio Boards of Directors with Independent Directors and with increased autonomy and decision-making being implemented throughout our operations.

Mr. E. Gervase Warner, President &
Group CEO
Massy Group of Companies

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Businessuite 2023 #1 Trinidad and Tobago Company by US$ Revenue –  Massy Holdings Limited

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Businessuite 2023 Top 100 Caribbean Chief Executive Officers

Published

6 months ago

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October 15, 2023

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Businessuite 2023 Top 100 Caribbean  Chief Executive Officers –      % change US$ Profit after Tax
CR US$000 US$000 %
2023 Company Chief Executive Officer 2022 2021 Change
1 TT Endeavour Holdings Limited Anthony Rahael $6,359 $648 881.37%
2 JA General Accident Insurance Co Ja Sharon Donaldson $3,982 $962 313.87%
3 BB Goddard Enterprises Limited Anthony H. Ali $34,102 $11,143 206.03%
4 JA Stationery & Office Supplies Limited Allan McDaniel, $1,710 $691 147.64%
5 JA Future Energy Source Company Limited Jeremy Barnes $1,691 $697 142.52%
6 JA Tropical Battery Company Limited Alexander Melville $1,314 $570 130.66%
7 EC S. L. Horsford & Co Ltd. Anthony Kelsick $3,892 $1,856 109.66%
8 JA NCB Financial Group Ltd. Patrick Hylton $266,216 $129,445 105.66%
9 JA Lasco Financial Services Limited Jacinth Hall-Tracey, $2,043 $1,011 102.18%
10 JA Portland JSX Limited Michael Lee-Chin $4,277 $2,116 102.13%
11 JA Mayberry Jamaican Equities Limited Natalie Glitzenhirn-Augustin $33,193 $16,450 101.78%
12 JA Dolphin Cove Limited Stafford Burrowes $2,967 $1,511 96.36%
13 JA Blue Power Group Limited Vishwanauth Tolan $1,291 $687 87.81%
14 JA Cargo Handlers Limited Antony M. Hart $1,928 $1,029 87.37%
15 JA Jamaica Broilers Group Limited Christopher Levy $28,607 $15,464 84.98%
16 JA First Rock Real Estate Investments Limited Ryan Reid $4,050 $2,221 82.35%
17 EC East Caribbean Financial Holding Company Rolf Phillips $15,431 $8,473 82.13%
18 JA Access Financial Services Ltd. Marcus James $2,920 $1,713 70.45%
19 JA FosRich Company Limited Cecil Foster $2,165 $1,286 68.34%
20 GY Citizens Bank Guyana Inc. Eton M. Chester $8,644 $5,279 63.74%
21 JA Mayberry Investments Limited Gary Peart $31,592 $19,738 60.05%
22 EC Republic Bank (Grenada) Limited Naomi E. DE Allie $3,849 $2,523 52.56%
23 JA Seprod Limited Richard Pandohie $19,458 $12,853 51.38%
24 JA Productive Business Solutions Limited Pedro Paris Coronado $8,476 $5,599 51.38%
25 JA Scotia Group Jamaica Ltd. Audrey Tugwell Henry $77,885 $54,228 43.62%
26 JA Derrimon Trading Company Limited Derrick Cotterell $4,119 $2,890 42.52%
27 TT Guardian Holdings Limited Ravi Tewari $166,912 $118,625 40.71%
28 BB First Caribbean International Limited Mark St. Hill $176,393 $125,721 40.31%
29 TT Agostini’s Limited Anthony Agostini $40,550 $28,904 40.29%
30 JA Supreme Ventures Limited Gary Peart $20,525 $14,996 36.87%
31 JA Wisynco Group Limited Andrew Mahfood $27,031 $19,810 36.45%
32 JA 138 Student Living Jamaica Limited Cranston Ewan $2,123 $1,577 34.63%
33 JA Sygnus Credit Investments Limited Berisford Grey $5,134 $3,823 34.29%
34 BB Cave Shepherd & Company Limited Roger M. Cave $6,771 $5,070 33.55%
35 JA Lumber Depot Limited Noel Dawes $1,226 $935 31.16%
36 JA Spur Tree Spices Jamaica Limited Albert Bailey $771 $589 30.94%
37 JA Indies Pharma Jamaica Limited Dr. Guna Muppuri $1,487 $1,151 29.14%
38 JA Caribbean Cement Company Limited Yago Castro $35,901 $27,994 28.24%
39 JA Lasco Manufacturing Limited James E. D. Rawle $11,386 $8,896 27.99%
40 TT One Caribbean Media Limited Dawn Thomas $4,217 $3,303 27.67%
41 JA Victoria Mutual Investments Limited – Group Rezworth Burchenson $4,613 $3,637 26.83%
42 JA Kingston Properties Limited – Group Kevin Richards $3,800 $3,018 25.91%
43 JA Pulse Investments Limited Kingsley Cooper $11,914 $9,472 25.78%
44 JA Fontana Limited Anne Chang $4,042 $3,303 22.37%
45 GY Guyana Bank for Trade & Industry Ltd. Richard Isava $11,642 $9,588 21.43%
46 JA Radio Jamaica Limited Gary Allen $1,310 $1,100 19.09%
47 TT Republic Financial Holdings Limited Nigel M. Baptise $248,361 $214,669 15.69%
48 JA Lasco Distributors Limited John De Silva $6,778 $5,864 15.58%
49 GY Republic Bank Guyana Ltd. Nigel M. Baptiste $20,572 $17,909 14.87%
50 BB West India Biscuit Compant Limited Lorenzo Roach $5,014 $4,366 14.84%
51 TT Scotiabank Trinidad & Tobago Limited Gayle Pazos-Phillips $100,848 $89,677 12.46%
52 JA Stanley Motta Limited Melanie Subratie $5,659 $5,147 9.93%
53 TT First Citizens Bank Limited Karen Darbasie $108,187 $99,150 9.11%
54 GY Sterling Products Limited Ramsay Ali $892 $818 9.06%
55 TT PLIPDECO Limited Ernest Ashley Taylor $6,416 $5,936 8.08%
56 JA Jamaica Producers Group Limited Jeffrey Hall $26,580 $24,629 7.92%
57 JA Barita Investments Limited Dane Brodber $28,148 $26,169 7.56%
58 GY Demerara Distillers Ltd. Komal R. Samaroo $25,552 $23,950 6.69%
59 TT Massy Holdings Limited E. Gervase Warner $106,688 $100,334 6.33%
60 EC The West Indies Oil Company Ltd. Joe fernandez $7,196 $6,827 5.40%
61 EC Bank of St. Vincent and the Grenadines Derry Williams $1,077 $1,026 4.91%
62 JA Carreras Limited Raoul Glynn $24,244 $24,044 0.83%

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Businessuite 2023 Top 100 Caribbean Companies – US$ Profit after Tax

Published

6 months ago

on

October 15, 2023

By

Businessuite 2023 Top 100 Caribbean Companies – US$ Profit after Tax
US$000 US$000
2023 Company 2022 2021
1 TT National Enterprises Limited $292,000 -$40,183
2 JA NCB Financial Group Ltd. $266,216 $129,445
3 TT Republic Financial Holdings Limited $248,361 $214,669
4 BB First Caribbean International Limited  $176,393 $125,721
5 TT Guardian Holdings Limited $166,912 $118,625
6 JA Sagicor Group Jamaica Limited  $110,666 $113,760
7 TT First Citizens Bank Limited $108,187 $99,150
8 TT Massy Holdings Limited $106,688 $100,334
9 TT Scotiabank Trinidad & Tobago Limited   $100,848 $89,677
10 JA Scotia Group Jamaica Ltd. $77,885 $54,228
11 JA GraceKennedy Limited $50,641 $57,646
12 JA JMMB Group Limited  $41,846 $49,768
13 TT Agostini’s Limited  $40,550 $28,904
14 TT The West Indian Tobacco Company Limited $38,581 $68,384
15 TT ANSA Mc Al Limited $37,098 $103,582
16 GY Banks DIH Ltd. $36,445 $38,448
17 JA Caribbean Cement Company Limited $35,901 $27,994
18 BB Goddard Enterprises Limited $34,102 $11,143
19 JA Mayberry Jamaican Equities Limited $33,193 $16,450
20 JA PanJam Investment Limited $31,967 $46,758
21 JA Mayberry Investments Limited $31,592 $19,738
22 JA Jamaica Broilers Group Limited $28,607 $15,464
23 JA Barita Investments Limited $28,148 $26,169
24 JA Wisynco Group Limited $27,031 $19,810
25 JA Jamaica Producers Group Limited $26,580 $24,629
26 GY Demerara Distillers Ltd. $25,552 $23,950
27 JA Carreras Limited $24,244 $24,044
28 TT Angostura Holdings Limited $21,421 $23,524
29 GY Republic Bank Guyana Ltd. $20,572 $17,909
30 JA Supreme Ventures Limited $20,525 $14,996
31 JA Seprod Limited $19,458 $12,853
32 JA Kingston Wharves Limited             $18,261 $20,961
33 EC East Caribbean Financial Holding Company $15,431 $8,473
34 EC St. Lucia Electricity Services Ltd. $14,667 $15,016
35 GY Demerara Bank Limited $14,188 $14,774
36 JA Pulse Investments Limited $11,914 $9,472
37 GY Guyana Bank for Trade & Industry Ltd. $11,642 $9,588
38 JA Lasco Manufacturing Limited $11,386 $8,896
39 GY Citizens Bank Guyana Inc. $8,644 $5,279
40 TT Trinidad Cement Limited $8,526 $28,294
41 JA Productive Business Solutions Limited $8,476 $5,599
42 JA Caribbean Producers Jamaica Limited (Group)  $7,722 -$2,518
43 EC  The West Indies Oil Company Ltd. $7,196 $6,827
44 JA Lasco Distributors Limited $6,778 $5,864
45 BB Cave Shepherd & Company Limited $6,771 $5,070
46 TT PLIPDECO Limited  $6,416 $5,936
47 TT Endeavour Holdings Limited $6,359 $648
48 JA Stanley Motta Limited  $5,659 $5,147
49 TT Prestige Holdings Limited $5,232 -$4,205
50 JA Sygnus Credit Investments Limited $5,134 $3,823
51 BB West India Biscuit Compant Limited $5,014 $4,366
52 JA Sygnus Real Estate Finance Limited – Group $4,621 $0
53 JA Victoria Mutual Investments Limited – Group $4,613 $3,637
54 JA Portland JSX Limited $4,277 $2,116
55 TT One Caribbean Media Limited $4,217 $3,303
56 JA Derrimon Trading Company Limited $4,119 $2,890
57 JA First Rock Real Estate Investments Limited $4,050 $2,221
58 JA Fontana Limited $4,042 $3,303
59 JA General Accident Insurance Co Ja $3,982 $962
60 EC S. L. Horsford & Co Ltd. $3,892 $1,856
61 EC Republic Bank (Grenada) Limited $3,849 $2,523
62 JA Kingston Properties Limited – Group $3,800 $3,018
63 EC Grenada Electricity Services Limited $3,149 $5,499
64 JA Dolphin Cove Limited $2,967 $1,511
65 JA Access Financial Services Ltd. $2,920 $1,713
66 JA FosRich Company Limited $2,165 $1,286
67 JA 138 Student Living Jamaica Limited $2,123 $1,577
68 JA Wigton Windfarm Limited $2,058 $5,111
69 JA Mailpac Group Limited $2,054 $2,565
70 JA Lasco Financial Services Limited $2,043 $1,011
71 JA Jamaica Stock Exchange Limited $2,003 $3,207
72 JA Cargo Handlers Limited $1,928 $1,029
73 JA Dolla Financial Services Limited $1,870 $0
74 EC St. Kitts Nevis Anguilla Trading & Development Company $1,771 $3,126
75 JA Stationery & Office Supplies Limited $1,710 $691
76 JA Future Energy Source Company Limited  $1,691 $697
77 JA Eppley Limited $1,592 $1,622
78 JA Indies Pharma Jamaica Limited $1,487 $1,151
79 TT Unilever Caribbean Limited $1,441 $28,055
80 JA Honey Bun (1982) Limited $1,357 $1,410
81 JA Tropical Battery Company Limited $1,314 $570
82 JA Radio Jamaica Limited $1,310 $1,100
83 JA Blue Power Group Limited $1,291 $687
84 JA Lumber Depot Limited $1,226 $935
85 JA Salada Foods Jamaica Limited $1,170 $101
86 JA Paramount Trading (Jamaica) Limited $1,164 $410
87 JA Express Catering Limited $1,097 -$1,734
88 JA Jamaican Teas Limited $1,084 $3,780
89 EC Bank of St. Vincent and the Grenadines $1,077 $1,026
90 JA Main Event Entertainment Group Ltd $1,009 $104
91 TT LJ Williams Limited $972 $1,132
92 JA The Limners and Bards Limited $960 $990
93 GY Sterling Products Limited $892 $818
94 JA Spur Tree Spices Jamaica Limited $771 $589
95 EC Grenada Co-operative Bank Ltd. $747 $3,656
96 JA Medical Disposables & Supplies Ltd. $703 $449
97 JA AMG Packaging & Paper Company $700 $391
98 JA Image Plus Consultants Limited $629
99 JA Caribbean Assurance Brokers Limited $520 $362
100 JA Knutsford Express Limited $519 -$619
101 JA Caribbean Flavours & Fragrances Ltd $411 $513
102 JA ISP Financial Services Limited $384 $351
103 JA Regency Petroleum Co. Limited $376
104 TT Guardian Media Limited $363 $624
105 JA Key Insurance Company Limited $362 $1,034
106 JA Elite Diagnostic Limited $324 $12
107 JA Everything Fresh Limited $321 -$178
108 JA Sterling Investments Limited $285 $1,030
109 JA IronRock Insurance Company Limited $188 $346
110 JA KLE Group Limited $166 $166
111 JA JETCON Corporation Limited $165 $99
112 JA GWEST Corporation Limited $161 $143
113 JA CAC 2000 Limited $136 $257
114 JA MFS Capital Partners Limited $121 $0
115 JA JFP Limited $100 $0
116 JA Consolidated Bakeries Jamaica Limited $93 -$114
117 JA One On One Educatinal Services Limited $82 $0
118 JA Berger Paints Jamaica Limited $5 $795
119 JA Icreate Limited $0 -$208
120 EC The Bank of Nevis Ltd. $0 $9,556
121 BB Banks Holdings Limited $0 $6,516
122 JA Caribbean Cream Limited -$61 $649
123 JA Ttech Limited -$161 $53
124 EC Dominica Electricity Services -$290 $1,338
125 JA QWI Investments Limited -$329 $2,255
126 JA Magaritaville Ltd -$609 -$1,382
127 JA Edufocal Limited -$1,192 $0
128 JA Palace Amusement Company (1921) Limited -$1,738 -$2,470
129 JA MPC Caribbean Clean Energy Limited -$2,185 $1,141
130 BB Insurance Corporation Of B’DOS Limited -$4,632 $10,719
131 JA Proven Investments Limited -$5,361 $14,910
132 JA Transjamaican Highway Limited -$7,140 $3,991
133 TT ANSA Merchant Bank Limited (Group) -$9,000 $45,515
134 TT Trinidad and Tobago NGL Limited -$59,374 $76,198
135 EC St. Kitts-Nevis-Anguilla National Bank Ltd. -$109,709 $69,766

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