分类： business

TransJamaican Highway Limited (TJH) has commenced the partial redemption of its cumulative redeemable preference shares as part of its strategic growth initiatives. The company recently redeemed 5% of the principal amount of its 2.7 billion preference shares, equivalent to 135 million shares or US$1.35 million, based on a US$0.01 par value. This redemption, executed on July 14, coincided with the quarterly dividend payment. TJH’s preference shares offer an 8.0% dividend yield. The Jamaica Central Securities Depository (JCSD) facilitated the redemption process, ensuring pro-rata distribution among shareholders. Despite receiving a query, TJH reported no objections to the transaction. The company has since aligned its redemption schedule with the original terms, adjusting the maximum optional redemption amount to 15% by January 30, 2026, with quarterly redemptions tied to dividend payments. TJH initially issued these preference shares in January 2020, raising US$27 million. The shares, listed at $1.41 in September 2020, are set to mature by January 2028. TJH retains the right to redeem up to 20% of the shares after the sixth anniversary of issuance. The company’s Q2 2024 report highlighted a carrying value of US$23.88 million for the preference shares, with US$22.26 million classified as non-current. Early redemptions free up cash for ordinary shareholders, with TJH announcing a $0.1292 dividend totaling $1.62 billion, payable on October 24. This marks a 35% increase from 2024, reflecting TJH’s robust financial performance. Additionally, TJH updated its dividend payment structure to accommodate USD shareholders. The company is set to launch Phase 1C of Highway 2000 East-West in October, projected to generate US$9.5 million in revenue. TJH’s 2024 revenue reached US$82.82 million, driven by increased toll volumes, with net profit rising 28% to US$17.78 million. The company also adjusted toll rates and streamlined T-Tag acquisition processes, enhancing customer convenience. TJH’s asset base stood at US$295.44 million, with total equity closing at US$72.99 million. Despite a 13% decline in JMD share price, TJH remains focused on its expansion and operational efficiency.

Jamaica is strategically positioning itself to tap into the lucrative luxury travel market, particularly targeting high-spending tourists from the Gulf Cooperation Council (GCC) countries. The GCC, established in 1981, comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE). These nations are renowned for their affluent travelers who seek premium experiences, including five-star accommodations, halal-certified dining, and culturally sensitive services. With Saudi Arabia leading in population size, followed by the UAE and Oman, the GCC market represents a significant opportunity for Jamaica’s tourism sector. To capitalize on this, Jamaica is enhancing its offerings to meet the specific needs of GCC travelers, such as Arabic-speaking concierge services, luxury transfers, and privacy-focused amenities. A recent codeshare agreement between Emirates and Condor Airlines has further facilitated connectivity between Dubai, Frankfurt, and Montego Bay, paving the way for increased Middle Eastern visitation. Vijay D’Souza, trade director at Buzz Travel Marketing and regional representative for the Jamaica Tourist Board, emphasized the untapped potential of the GCC market, noting that word-of-mouth recommendations play a crucial role in attracting these travelers. Cortez Gordon, founder of Salaam Jamaica Tourism Network, highlighted the importance of aligning Jamaica’s tourism offerings with Islamic values, including halal-certified cuisine, prayer facilities, and culturally sensitive services. Gordon expressed optimism that these efforts could lead to significant economic benefits, including job creation and market diversification, while positioning Jamaica as a globally inclusive, Muslim-friendly destination.

The Bank of Jamaica (BOJ) has decided to maintain its key interest rate at 5.75%, defying market expectations for a rate cut. This decision, announced by Governor Richard Byles, reflects the central bank’s focus on medium-term inflation risks and robust domestic demand, despite recent low inflation figures. The Monetary Policy Committee (MPC) unanimously agreed to hold the rate, emphasizing the importance of core inflation, which remains at 4.2%, within the target range. This core figure, which excludes volatile food and fuel prices, indicates persistent underlying price pressures, particularly in the services sector. The BOJ attributes the low headline inflation of 1.2% to temporary factors such as increased agricultural production post-Hurricane Beryl and reduced public transport fare impacts. The bank’s hawkish stance aims to manage domestic demand and anchor inflation expectations, supported by a tight labor market and elevated wage growth. The economy is projected to grow between 1% and 3% in fiscal year 2025/26, driven by expansions in Agriculture, Mining, and Tourism. External risks, including potential U.S. tariff increases and geopolitical tensions, also informed the BOJ’s cautious approach. The next policy decision is scheduled for November 20, 2025, allowing time for reassessment of economic data.

KINGSTON, Jamaica — Julian Robinson, the Opposition Spokesman on Finance, has raised significant concerns over Jamaica’s persistent under-execution of its capital budget, labeling it a chronic issue that threatens the nation’s economic growth. His comments were prompted by the latest report from the Independent Fiscal Commission (IFC), which revealed that only $20.1 billion of the allocated $40.5 billion was spent in the first quarter of the 2025/26 fiscal year. This follows a pattern of underspending, with $19 billion unspent in FY 2024/25 and a nearly $9 billion shortfall in FY 2023/24. Robinson criticized the government for failing to address inefficiencies and bottlenecks in the public procurement system, which he believes are hindering the implementation of vital projects. Drawing comparisons with the Dominican Republic, which has successfully executed a $12 billion National Infrastructure Investment Plan, Robinson highlighted the stark contrast in regional infrastructure development. He warned that Jamaica’s inability to execute its capital budget effectively is a ‘growth-constraining concern,’ particularly at a time when higher economic growth is essential for generating additional revenues. While the Bank of Jamaica forecasts a modest two to three per cent growth for the September quarter, Robinson cautioned that this is largely recovery growth following last year’s economic contraction due to Hurricane Beryl. He stressed the need for sustainable, long-term growth strategies, urging the government to reform procurement processes, accelerate project execution, and create conditions for sustained economic expansion. Failure to act decisively, he argued, will result in weaker-than-projected revenues and unmet promises to the Jamaican people.

Motorists across the region are set to experience a mixed bag of fuel price changes starting Thursday, October 2, as Petrojam, the national oil refinery, has released its latest ex-refinery cost updates. The adjustments reflect a combination of increases and decreases across various fuel types, signaling a dynamic shift in the energy market. Notably, 90-octane gasoline will see a rise of $0.75, bringing its price to $166.60 per litre. In contrast, 87-octane gasoline will experience a slight reduction of $0.77, settling at $159.55 per litre. Diesel fuels are also subject to significant hikes, with automotive diesel increasing by $2.94 to $170.41 per litre and ultra-low sulphur diesel (ULSD) rising by $3.06 to $176.79 per litre. Meanwhile, kerosene prices have dropped by $3.06, now available at $155.08 per litre. These changes are expected to impact both individual consumers and businesses reliant on fuel for operations, prompting a closer look at budgeting and energy consumption strategies.

KINGSTON, Jamaica — The US dollar demonstrated a slight upward trajectory against the Jamaican dollar on Wednesday, September 30, closing at $161.30, marking an increase of 8 cents, as reported by the Bank of Jamaica’s daily exchange trading summary. This modest gain reflects ongoing fluctuations in the foreign exchange market. In contrast, the Canadian dollar experienced a decline, settling at $116.03 compared to its previous close of $116.51. Meanwhile, the British pound showed resilience, ending the day at $217.17, up from $216.87. These mixed movements underscore the dynamic nature of global currency markets, influenced by a combination of economic indicators, trade dynamics, and investor sentiment. The Bank of Jamaica continues to monitor these trends closely to ensure stability in the local financial landscape.

Bogle’s Property Services Limited, a prominent player in Jamaica’s real estate sector, is commemorating its fifth anniversary with a series of events that highlight its legacy and dedication to community engagement. Established in 2020 by Nicholas Bogle and Tamara Grant-Bogle, the brokerage has evolved from modest beginnings into a reputable brand celebrated for its integrity, innovation, and client-centric approach. The anniversary celebrations, rooted in the company’s core values of faith, teamwork, and philanthropy, included a thanksgiving service at Grace Missionary Church, an awards ceremony at Hillside City Center, and a playful games night at their office. The week-long festivities concluded with a charitable donation of a playground to the Annie Dawson Home for Children, reflecting the company’s commitment to community upliftment. Founders Nicholas and Tamara Bogle expressed gratitude for the trust of clients and partners, emphasizing that their journey is not just about business success but also about building a lasting legacy of service and faith. Looking ahead, Bogle’s Property Services remains dedicated to delivering exceptional real estate solutions while fostering excellence in Jamaica’s property market.

KINGSTON, Jamaica — The Statistical Institute of Jamaica (Statin) unveiled encouraging data on Tuesday, revealing significant advancements in the nation’s labour market for July 2025. Compared to the same period in 2024, employment surged by 32,100 individuals, pushing the total employed labour force to 1,441,100. Notably, youth employment experienced a 7.2% rise, equating to 12,200 additional jobs. The wholesale and retail trade, along with motor vehicle and motorcycle repair sectors, emerged as the primary contributors to this growth. Simultaneously, underemployment—defined as part-time workers seeking more hours—declined by 5,400 to 25,400. Labour force participation also saw a notable uptick, increasing by 28,700 to 1,490,300, with males accounting for two-thirds of this rise. The overall participation rate stood at 69.1%, with males at 75.0% and females at 63.4%. Unemployment rates dropped from 3.6% in July 2024 to 3.3% in July 2025, driven largely by reductions among males and the prime working-age group (25-54 years). However, female unemployment saw a slight increase from 4.0% to 4.4%. Additionally, fewer individuals were outside the labour force, with the number decreasing from 694,200 to 665,500, particularly among males and prime working-age individuals. Statin emphasized that these findings underscore sustained positive momentum in Jamaica’s labour market, fostering economic stability and inclusive growth.