Stock Listed: Trinidad and Tobago
Shares Issued: 206,277,630
PROFILE:
Angostura Holdings
Limited is the holding company for the assets of the firm’s rum and alcoholic
beverages and products distillery business.
Although ownership of the company has changed many times, the company’s flagship product - Angostura’s Aromatic Bitters, has become a household name around the globe since business started 175 years ago.
CORPORATE
OUTLOOK: Excellent (AB
Rating). Targeting new markets in the far East, and recently received approval
to increase shipments to India, which provides an extremely large potential
market.
Stock Listed: Trinidad and Tobago
Shares Issued: 173,609,312
PROFILE:
With assets of more than US$500 million, the ANSA McAL conglomerate is the largest commercial enterprise in the Caribbean. In the five years leading up to January 1999, ANSA McAL achieved above average returns with an asset growth of 87 percent.
CORPORATE
OUTLOOK: Excellent (AB
Rating). The conglomerate has been expanding and taking action to reduce debt
and expenses. It continues to experience good capital appreciation on the stock
market as investors respond to the growth in consumer confidence, which is its
main target markets in Trinidad, Tobago and Barbados.
Stock Listed: Trinidad and Tobago/Barbados
Shares Issued: 69,131,024 (TT market only)
PROFILE:
The largest conglomerate in Barbados, this business enterprise is involved in the retail, distribution, manufacturing, maintenance services and insurance businesses.
CORPORATE
OUTLOOK: Good (BB Rating).
BS&T reported a 30.3 percent increase in income last year despite closing
its office supplies and hardware businesses. A recent IPO on the TT Stock
exchange, BS&T will be using the capital gained to continue to restructure
and expand its operations in Barbados. Plans include a new Knights Extra in
Fontabelle, a new distribution centre and facilities for its food business,
tyre distribution and paper processing operations. Merger talks between its feed
division and Barbados Feeds are expected to see BS&T gain control of the
new company, adding to its revenue streams.
Stock Listed: Jamaica/Barbados/Trinidad and Tobago
Shares Issued: 620,809,583
PROFILE:
This Holding Company was formed four years ago to consolidate the financial services companies and assets of the Canadian Imperial Bank of Canada (CIBC). Although CIBC still holds a significant portion of the stock in the company, it is quite autonomous and continues to set policies and influence strategies as a leader in each market it operates.
CORPORATE
OUTLOOK: Excellent (AB
Rating). The company has been forging strategic links with other players in the
financial services industry and despite an increasingly competitive market, it
continues to produce record-breaking profits over the past five years.
Stock Listed: Jamaica Stock Exchange
Shares Issued: 1,095,193,476
PROFILE:
The main producer of the world famous Red Stripe Beer, Desnoes & Geddes has tremendous market presence in one of the largest markets for alcoholic beverages in the Caribbean. The company is also looking to expand its horizons and has been receiving modest successes at expanding exports of some of its products to the United States and other destinations outside the region.
CORPORATE OUTLOOK: Good (BB Rating). The company recently restructured its operations, even selling off its fledgling non-alcoholic beverages plant to focus on its core business of producing beer. Competition in the regional market however, may pose a challenge to company executives.
Stock Listed: Jamaica Stock Exchange
Shares Issued: 59,400,000
PROFILE:
Despite a recent corporate shake-up, the market seems to like Goodyear and the modest gains in market share and earnings has fuelled additional capital growth for the stock.
CORPORATE OUTLOOK: Good (BB Rating). Goodyear virtually has the run of the regional tyre and rubber products market. However, it has been focusing on cost cutting as trade liberalization continues to force price cuts across the Caribbean. Cheaper products from outside the region will impact on Goodyear’s bottom line. However, the recent corporate shake-up is expected to deal with this situation.
Stock Listed: Jamaica Stock Exchange
Shares Issued: 178,358,459
PROFILE:
The Grace, Kennedy Conglomerate has been one of the more consistent performers in the region. The Group achieved sales of $14.06 billion for 1999 (1998: $13.54 billion), an increase of 3.84% or $519.7 million over the previous year (US$1 = J$42). The Net Profit Attributable to Stockholders increased by $81.2 million over the corresponding period of 1998, moving from $505.9 million to $587.0 million, an increase of 16.1%. This represents Earnings per Stock Unit of $3.25 (1998: $2.80).
CORPORATE OUTLOOK: Good-Excellent (BB Rating). Despite operating in a Jamaican economy that has contracted over the past decade, the value of having a diversified portfolio of companies has been a positive factor in the strong performance of the company over the years. This position will be enhanced even further by its current strategy to divest businesses and products that do not have significant growth potential, have few synergies with the rest of the group, or are not generating sufficient cash flows. These divestments will slow the growth of the group’s revenues, however it will have a positive impact on overall operating profits.
Stock Listed: TT Stock Exchange
Shares Issued: 62,512,500
PROFILE:
An insurance and financial services based holding company, Guardian Holdings Limited realised an after tax profit of TT$96.8 million ($TT6.2=US$1) and an end of year share price of TT$13.20
CORPORATE OUTLOOK: Excellent (AB Rating). Shareholders have seen the value of their investment grow by 46 percent inclusive of dividends over the course of 1999. This trend is expected to continue – though at a slower pace – into the year 2000 as Guardian Holdings continue to develop new products with the RBTT Financial Group and further develop its relationship with its new acquisitions in Jamaica.
Stock Listed: TT Stock Exchange
Shares Issued: 62,512,500
PROFILE:
A truly regional producer of consumer products, Lever Brothers commands a full range of brand names in the food, health care and home consumer markets that would make any competitor envious. The company currently operate in 14 Caribbean countries in the region including some of the Spanish and French speaking islands
CORPORATE OUTLOOK: Good (BB Rating). Although the outlook is excellent in the company’s two largest markets of Trinidad and Tobago and Barbados, the future of consumer confidence in some of the smaller islands are uncertain due to the uncertain future of industries such as plantation agriculture for export (bananas) and tourism, which are the mainstay of these economies.
Stock Listed: Jamaican Stock Exchange
Shares Issued: 540,816,330
PROFILE:
LOJ has been a market leader in Ordinary Life Business in Jamaica for ten (10) consecutive years. According to statistics from the Life Insurance Companies Association, LOJ commands 29.3% of the market with its closest competitor at 26.4%. It is also a formidable competitor in other aspects of the insurance and financial services sector including the Pension Fund Management business where it commands two-thirds of the market.
CORPORATE OUTLOOK: Good (BB Rating). The company has a history of consistent profitability over many years except for 1996 when it experienced a loss. Since then, LOJ has disposed of its banking assets and concentrated on its core business, which are all operating profitably. As a result of these strategic initiatives, LOJ's balance sheet is now strong and this allows the company to have much brighter prospects for the future.
Stock Listed: Jamaica Stock Exchange
Shares Issued: 865,925,287
PROFILE:
National Commercial Bank, first known as the Colonial Bank was amongst the first commercial banks to commence operations in Jamaica in 1837. In 1977, Government acquired the shares of the Bank and changed its name to the National Commercial Bank Jamaica Limited. Since then it has grown tremendously and is regarded to be a leader in the financial sector.
CORPORATE OUTLOOK: Good (BA Rating). Since merging with the Mutual Security Bank in October 1996, National Commercial Bank has emerged as a dominant force in Jamaica’s financial sector. Focusing on providing new products and taking advantage of new technology to improve service, NCB intends to maintain its position as a dominant Bank in Jamaica. It was the first bank to introduce credit card to the local industry and has the largest range of credit cards including local, co-branded and international credit cards.
Stock Listed: TT Stock Exchange
Shares Issued: 26,417,123
PROFILE:
Plipdeco is the landlord of the 1150ha Pt Lisas Industrial Estate and Free Zone on the west coast of Trinidad. With the country’s abundant supply of natural gas and the estate’s well-established infrastructure, large-scale heavy and manufacturing industries have access to an unrivalled collection of facilities for production and easy export.
CORPORATE OUTLOOK: Good-Excellent (AB Rating). With the land holdings at the facility more than 80 percent occupied, the future outlook for Plipdeco is extremely good. The short term plans of the estate is to lease all idle land within five years and extend the current 30 year leases of tenants to 99 years. Plans are also in place for the port to increase its throughput of containerised cargo to 150,000 trailer units by 2004. It also plans to dramatically extend its share in the regional trans-shipment business and entirely take over all tug and towage business in Trinidad’s Gulf of Paria by 2004.
Stock Listed: TT Stock Exchange
Shares Issued: 340,219,580
PROFILE:
One of the large players in the regional financial services industry, RBTT Financial Holdings Limited is the holding company for Trinidad based Royal Bank of Trinidad and Tobago and its subsidiaries including, Royal Merchant Bank, the Grenada Bank of Commerce, the Caribbean Banking Corporation and other financial institutions around the Caribbean.
CORPORATE OUTLOOK: Good-Excellent (AB Rating). While the bank’s main market of Trinidad and Tobago is encouraging, the outlook for the wider region presents both challenges and opportunities. The Government’s tight monetary policies and vigorous competition in the market have reduced interest rates spreads, however opportunities in export financing, syndicated loans and mutual fund management have provided options for continued growth.
Stock Listed: TT Stock Exchange
Shares Issued: 159,013,605
PROFILE:
Republic Bank emerged as the largest financial institutions in the southern Caribbean two years ago with the merger of the Trinidad and Tobago operations of the former National Commercial Bank and further capitalization on the TT Stock exchange. The bank is an extremely keen competitor on the TT financial market and is increasingly becoming a major player in financial markets across the region.
CORPORATE OUTLOOK: Good-Excellent (AB Rating). The performance of the bank since it pulled through an extensive merger operation has been outstanding. In the coming year it will focus on building a new image and business culture that will see it becoming even more competitive in its pricing and the way it conducts its business. Additional growth is expected to come from its regional subsidiaries as technology and restructuring is expected to reduce expenses and provide greater shareholder value.
Stock Listed: TT Stock Exchange
Shares Issued: 209,480,473
PROFILE:
With the acquisition of the Caribbean Cement Company Limited of Jamaica, the TCL Group has been transformed into a truly Caribbean business enterprise. It has virtually doubled its size in terms of revenue streams, assets, production capability, market, revenue and potential profitability.
CORPORATE OUTLOOK: Good-Excellent (AB Rating). Profitability in the 1999 fiscal period was somewhat strained due to the acquisition of the Jamaican plant and a 44 percent reduction in prices for five and a half months to protect its major market of Trinidad and Tobago from imports of Taiwanese cement. Although these threats still exist in the other territories, the company has rebound from its pricing strategy in TT and is expected to surpass its current records of production and profitability in the upcoming 2000 fiscal period.
