LIFESPAN ANNOUNCES DASH AND WIN WINNER OF 1 MILLION DOLLARS
Written by Super User
Marcia Anderson is sitting pretty as she is now 1 Million Dollars richer thanks to Lifespan’s Dash and Win! The proceeds were handed over to her at the Lifespan Kingston office on Constant Spring Road.
Dolla Financial Services Celebrates Success of Million Dolla Woman Campaign
Written by Super User
Dolla Financial Services proudly commemorated the triumphant conclusion of its Million Dolla Woman Campaign, initiated on March 8, 2023, in honor of International Women’s Day.
Rvssian and Supreme Ventures Strike Gold with Money Time Jackpot
Written by Super User
Music mogul Rvssian recently teamed up with gaming giant Supreme Ventures to launch the electrifying Money Time Jackpot promotion, igniting excitement and doubling the thrills for fans everywhere. With a confident swagger, Rvssian reflects on the collaboration, describing the experience as "effortless" and emphasising the campaign's "swift execution," attributing its triumph to seamless teamwork and a shared vision.
Mayberry Group Limited (MGL) Showcases MJE's Performance and Strategic Investments
Written by Super User
Mayberry Group Limited (Mayberry), Jamaica's
foremost investment banking firm, unveiled the year-end 2023 financial results of
Mayberry Jamaica Equities Limited (MJE) at its esteemed Investor Forum. Despite
prevailing market challenges, the presentation highlighted MJE's resilient performance,
demonstrating its ability to thrive in adverse conditions.
The forum, a cornerstone of investor education in Jamaica for over three decades,
welcomed distinguished financial experts to provide insights into market trends and
investment opportunities. Christopher Berry, Executive Chairman of Mayberry Group
Limited, and Gary Peart, Asset Manager of Mayberry Jamaican Equities (MJE), shared
valuable insights on MJE's performance for the fiscal year ending in December 2023.
Amidst a challenging economic backdrop with significant market downturns, including
an 18% decrease in the main market index and 17% decrease in the financial index,
MJE demonstrated resilience. Despite high inflation and interest rates throughout 2023,
MJE remained focused on its mission to achieve long-term capital appreciation by
investing in high-quality, publicly listed entities.
Key highlights from the presentation included MJE's impressive growth trajectory since
its IPO debut in July 2018, where its asset values in US$ terms have increased by 60%
over the last five years, representing a compound annual growth rate (CAGR) of 10%.
While MJE experienced a decline in total assets by 2% year over year, shareholders'
equity decreased by 14%, mainly attributed to trading losses and market valuation
adjustments. The net book value per share also saw a 14.4% decrease, with the closing
share price down by 24% to $9.95 as of December 31, 2023. The comprehensive loss
for the year amounted to $18.3 million, primarily driven by market conditions and
primarily the result of unrealized fair value losses.
During the forum, insights were provided on MJE's investment portfolio, showcasing
strategic adjustments in stock positions. Notable additions included Dolla Financial
Services, emerging as a top-ten holding for the first time, and increased investments in
promising entities such as Jamaica Broilers Group and JMMB.
Christopher Berry emphasised the rationale behind key holdings such as CPJ, citing its
dominant position as the largest purveyor to Jamaica's hospitality sector. Despite short-
term market fluctuations, Berry expressed confidence in CPJ's long-term growth
potential, driven by Jamaica's thriving tourism industry.
"CPJ remains a cornerstone of our portfolio, reflecting its pivotal role as the leading
provider to Jamaica's vibrant hospitality sector. Despite market volatility, we maintain
unwavering confidence in CPJ's enduring growth trajectory, fueled by the resilience of
Jamaica's burgeoning tourism industry." Christopher Berry, expressed.
Gary Peart echoed this sentiment regarding Supreme Ventures Limited (SVL),
highlighting its strong profitability and expansion into new markets like Ghana. Peart
emphasised SVL's consistent dividend payouts and robust financial performance,
underpinning its strategic importance within MJE's portfolio.
"Supreme Ventures Limited's impressive profitability and strategic expansion into
emerging markets like Ghana reflect its unwavering commitment to growth and
innovation. With consistent dividend payouts and a resilient financial performance, SVL
continues to solidify its position as a cornerstone within MJE's investment portfolio,"
Peart asserted
The Group underscored the significant buying opportunity presented by MJE's current
market valuation, as evidenced by its stock price trading at a notable discount to its net
asset value (NAV). With a 30% discount observed as of December 2023, the Group
believes MJE offers compelling value for investors seeking exposure to Jamaica's
resilient stock market.
Mayberry Group Limited reaffirmed its commitment to delivering long-term value for
investors through prudent investment strategies and rigorous portfolio management,
while preparing for the upcoming launch of the Mayberry Jamaican Equities Bond Offer
which is expected later on in March 2024.
For a deeper dive into MJE's performance and expert insights from the Investor Forum,
viewers are encouraged to watch the full story on Mayberry Investments Limited's
YouTube channel. Gain valuable insights and stay informed about the latest
developments in the financial markets. Subscribe today for exclusive content and expert
analysis.
Supreme Ventures Limited Celebrates Double Jackpot Win Just Days After Launch
Written by Super User
Supreme Ventures Limited is thrilled to announce not one but two jackpot winners in its newly launched Money Time Jackpot promotion.
Mayberry Investor Forum highlights JMMB's robust financial performance
Written by Super User
Mayberry Investments Limited (Mayberry) hosted another engaging edition of its weekly investor forum, focusing on the exceptional financial performance of JMMB Group.
Win $100,000 Every Four Minutes with New Money Time Jackpot Promotion from Supreme Ventures Limited
Written by Super User
Gaming giants Supreme Ventures Limited have launched a new jackpot feature to the popular Money Time game, giving customers a chance to win a minimum of $100,000 every four minutes.
Gut Feeling Turns Into $342 Million Super Lotto Jackpot Win for Businessman
Written by Super User
Mr. A. Pryce’s intuition proved to be accurate when he was selecting a set of numbers for his Super Lotto ticket, winning him the whopping $342 Million Super Lotto jackpot late last year.
Huawei supports digital infrastructure development in Latin America and the Caribbean
Written by Super User
During MWC24 Barcelona, Huawei stated that it will continue to make profound efforts to support the construction of digital infrastructure in Latin America and the Caribbean, further advancing the area's digital transformation process and sustainable development.
Innovative Systems dives into paper market with own paper
Written by Super User
National leader in technology and office supply retail services, Innovative Systems Limited, embarked on an exciting expansion journey in 2022
but has also been moving nonstop to stay on trend and keep up to date with the latest in gadgetry and services.
iCreate Initiates Legal Action Against Sagicor Investments Over Controversial Receivership
Written by Super User
iCreate Limited, in response to media releases by Sagicor that it is released from receivership wishes to clarify that at all times it challenged the Sagicor Investment’s right to call the bond as well as the receivership. Sagicor is aware that the settlement was made subject to these challenges. We have arrived at this position after a legal review of the appropriate documentation and numerous communication between our Attorneys Henlin Gibson Henlin and the Attorneys representing Sagicor Investments Jamaica Limited and the purported receiver.
Background:
iCreate Limited has enjoyed a longstanding and mutually beneficial relationship with Sagicor Investments. As pioneers in our field, Sagicor was one of the first institutional investors and also led our IPO, demonstrating their confidence in our vision during our nascent entrepreneurial days. Over the years, open dialogue and efficient management of investment obligations characterized our association – especially with Sagicor being a top 5 shareholder in our company.
However, in recent times, a seismic shift occurred in our dealings with Sagicor, marked by a sequence of events culminating in the decision by Sagicor Investments Jamaica Limited to place iCreate in Receivership.
The sudden receivership has raised significant concerns within iCreate Limited, particularly regarding the motive behind this drastic action as prior to the purported appointment of Ken Tomlinson as Receiver, best efforts were made by me personally, to engage Sagicor, which were ignored.
Next Steps:
- It is important to note that once we got notice of the purported receivership we immediately sought legal representation and engaged the services of Henlin Gibson Henlin (HGH), led by Kings Counsel, Georgia Gibson Henlin.
- iCreate contends that Sagicor Investments Jamaica Limited's Appointment of Receivership is invalid, a stance clearly communicated to Sagicor by our legal team. A letter was sent to the Receivers to halt their actions against iCreate Limited.
- Contrary to public perception, iCreate has continued to manage its operations independently since the Notice of Appointment of Receivership. The company remained under our control, operating on a normal day-to-day basis.
- After our legal argument was outlined by our Attorneys to Sagicor’s Attorneys, a Deed of Settlement, Release & Indemnity was subsequently sent by Sagicor's legal representative to our legal team. However, after careful consideration of the terms outlined, we rejected the agreement, opting instead to pay out the bond in full, without settlement.
Legal Action:
iCreate Limited, authorized by its Board of Directors, is set to file a lawsuit against Sagicor Investments Jamaica Limited in respect of the illegal and invalid appointment has resulted in severe damages to iCreate, its subsidiaries, its Directors, and the continuity of our business ventures. As a result, we intend to seek damages in the Court of Law to rectify the financial and reputational repercussions incurred.
Legal documents, meticulously drafted by our Legal Counsel, Georgia Gibson Henlin, and the HGH team, are currently being finalized for filing in the Supreme Court of Jamaica.
Conclusion:
Despite outstanding amounts, iCreate Limited has demonstrated an unwavering commitment to open communication with Sagicor throughout the challenging period, including the global pandemic. Our dedication to transparency, justice, and upholding our rights remains steadfast.
We want to thank our shareholders for their patience as we chart our way into becoming a digital and creative group of companies along with other strategies to grow.
More...
Record-Breaking Year for Lotto and Super Lotto Players with $48B Won in 2023
Written by Super User
2023 was a record-breaking year for Lotto and Super Lotto players!
GenXS Carnival Teams Up with McKayla Financial to Offer Convenient Micro-Loans for Masqueraders
Written by Super User
GenXS Carnival, Jamaica's Ultra-Premium Band, has partnered with McKayla Financial Services, a subsidiary of Supreme Ventures Limited (SVL), to offer masqueraders convenient micro-loans. This initiative aims to make the GenXS Carnival experience accessible to a wider audience, allowing enthusiasts to embrace the celebration without financial constraints.
Masqueraders can access a McKayla microloan with flexible payment options to secure any of three GenXS packages tailored to suit various preferences and budgets.
The available packages are:
- First Tier - Costume Only
- Second Tier - Costume and Glam Hub Package
- Third Tier - Costume, Glam Hub Package, and All GenXS Parties (Immortals J'ouvert, GenXS Sunset, Ocean X, and GenXS Street Jam)
For loans under US$2000, masqueraders can enjoy a 12-month unsecured loan repayment offer, providing a hassle-free commitment option. Secured loans are also available for amounts exceeding this threshold.
Ajene Green, Director at GenXS, expressed the band's commitment to accessibility, stating, "Our aim is to ensure that every individual who desires to play mas with GenXS can do so without financial burdens. This partnership with McKayla Financial simplifies the process, allowing masqueraders to enjoy the GenXS Carnival experience with ease."
Kamal Powell, Head of Marketing at SVL , highlighted the significance of the initiative, saying, "We understand the financial considerations people face during the Christmas season. Our collaboration with GenXS provides an opportunity for masqueraders to secure their costumes with a hassle-free commitment, giving them the freedom to prioritize other seasonal expenses."
The micro-loan program comes at a time when many individuals may want to prioritize Christmas spending, and GenXS Carnival and McKayla Financial aim to make the commitment to Carnival hassle-free. This initiative allows masqueraders to enjoy their Christmas festivities while securing their place in the upcoming GenXS Carnival celebration.
About GenXS Carnival: GenXS Carnival, established in 2022, is Jamaica's premier Ultra-Premium Band. With a commitment to providing high-quality Carnival experiences, GenXS has quickly become a leader in the Carnival industry. The band offers a unique and immersive Carnival journey, redefining the standards of celebration in Jamaica.
Caymanas Park Expands Partnership Portfolio with iCool Water and Drinks
Written by Super User
Supreme Ventures Racing and Entertainment Limited, operators of Caymanas Park is thrilled to announce the addition of ICOOL Water and Drinks to its growing list of partners
Mayberry Jamaican Equities Limited (MJE) Celebrates Exceptional Financial Performance in 2022
Written by Super User
In the dynamic realm of financial landscapes, Mayberry Jamaican Equities Limited (MJE) emerges as a beacon of success, proudly revealing stellar financial results for the fiscal year ended December 31, 2022.