• GK Capital Rolls Out First Phase Of BPO Project – Working On Financing For Gas Power Plant, Solar Farm

    In June, GraceKennedy Limited commissioned space under a business process outsourcing project that it began working on two years ago in downtown Kingston. But it did so in partnership with Sutherland Global Services under an arrangement that Group CEO Don Wehby says is confidential. GraceKennedy spent more than $150 million to ready the space for […]

  • MoBay Pharma Company To List

    The company, which is based in Montego Bay, is run by family physician Dr Guna Muppuri, who formed the business in 2003. Muppuri is not saying right now how much capital he is targeting or when the offer will launch. The plan is to eventually list on the junior market of the Jamaica Stock Exchange. […]

  • Jamaica Observer: Sale of Petcom completed

    Milverton Reynolds, managing director of the Development Bank of Jamaica (DBJ), on Monday July 4 announced the successful completion of the sale of the Petroleum Company of Jamaica Ltd (PETCOM), a wholly owned subsidiary of the Petroleum Corporation of Jamaica (PCJ), to Phoenix Fuels & Accessories Limited, a local petroleum retailing company. The documents to […]

  • Jamaica Gleaner: Phoenix Fuels Gets Petcom For Less

    Last year, when Colin Karjohn went after the Petroleum Company of Jamaica (Petcom) through his petrol business, Phoenix Fuels & Accessories, he made the highest bid of US$22 million and got tapped as the preferred buyer. But this month when the Development Bank of Jamaica (DBJ) announced that a deal had been reached with Phoenix, […]

  • Jamaica Gleaner: DBJ Sells Petcom For J$2.3 Billion

    Over the next 90 days, Petroleum Marketing outfit Phoenix Fuels and Accessories has to come up with US$19 million (J$2.3 billion) to close the deal on the sale of the Petroleum Company of Jamaica (PETCOM). The development comes after Phoenix signed an agreement with the Development Bank of Jamaica following nearly six months of negotiations. […]

  • Jamaica Observer: Petcom sold for J$2.3 billion

    KINGSTON, Jamaica – The Development Bank of Jamaica (DBJ) announced today, May 2, that Petroleum Company of Jamaica Limited (Petcom) a subsidiary of the Petroleum Corporation of Jamaica (PCJ) has been sold to Phoenix Fuels  and Accessories Limited for US$19 million (J$2.3 billion). The operation includes 24 Petcom-branded service stations and 14 liquid petroleum gas-filling […]

  • Jamaica Gleaner: NCB Boosts Business Model Competition

    The symbolic signing of sponsorship agreement for the National Business Model Competition was held at the Development Bank of Jamaica on Tuesday, March 22. Participants include (from left), Kaysia Johnson Vaughan, marketing manager, programmes at Scotiabank; Jacqueline Robotham, business sales and relationship manager at Jamaica National Building Society; Milverton Reynolds, managing director at Development Bank […]

  • Jamaica Gleaner: Thirteen Teams For National Business Model Competition

    Thirteen teams will be vying for $4 million in prize money in the National Business Model Competition (NBMC). They will also get a chance to represent Jamaica in the International Business Model Competition, to be held at the Microsoft Campus in Redmond, Washington, DC, on April 29-30. The NBMC will be held over two days, […]

  • Jamaica Gleaner: Johnson’s Petroleum Buying Unipet

    Johnson’s Petroleum emerged preferred buyer of rival United Petroleum – Unipet – on January 28 and the parties now say they expect to finalise the deal by the end of this month. The bid price was not disclosed, but Lynford Johnson, owner and chairman of Johnson’s Petroleum Holdings Limited, says he will be financing the […]

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