Jamaica Broilers is reporting a J$3 million dollars increase in net profits for the year ended April 30, 2022 compared to the previous year J$2.3 million dollars, despite issues at their Haiti operations.How did they do it? Group President and CEO of Jamaica Broilers Group. Christopher Levy will join us.
And THE ANALYSTS weigh in on the latest market developments…
Fosrich Company’s Board has considered an Increase in Share Capital, Stock Split, Rights Issue and/or Additional Public Offering and an Amendment to Articles of Incorporation voted upon by shareholders. And they’ll share their views on the plethora of updates Managing Director of the Jamaica Stock Exchange, JSE, Dr. Malene Street Forrest broke exclusively on Taking Stock last week.
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THE ANALYSTS: Trading on overseas markets welcomed
The ANALYSTS of Taking Stock with Kalilah Reynolds say that while direct market access (DMA) to international markets is a welcome feature to the Jamaica Stock Exchange (JSE), there are still a few kinks that need to be worked out.
Direct market access allows Jamaican investors to trade stocks listed on international markets from Jamaica through local brokers.
Managing Director of the JSE, Dr Marlene Street Forrest revealed on last week’s episode of Taking Stock that investors would be given direct access to both US and Canadian stock exchanges this week.
Access to the Canadian Stock Exchange was launched on Tuesday. CUMAX Wealth Management is currently the only local broker facilitating access. Others are expected to follow shortly. It is unclear when access to US exchange will become available.
Business writer at the Jamaica Observer, David Rose said the move was a long time coming.
“To finally have it launched now is a very progressive thing. It opens up the opportunity for there to be greater diversification for investors who want to invest outside of Jamaica,” he said.
Financial Analyst, Andre Thompson echoed similar sentiments adding that this move will also give investors access to different currencies.
He added that it is a great move for the JSE to get more investors interested in participating in the market.
“I’m hoping it will compliment the purchase of locally listed companies and not take away from it,” he noted.
Despite the positive reaction, Rose said that there will need to be clarification on how the process will take place, noting that updates have been sparse.
“It’s supposed to be a two-way street meaning that Jamaican investors can invest on the Canadian market and Canadians can invest on the JSE,” he said.
What of the fees?
He also said there needs to be an explanation of the fee structure associated with using local brokers to conduct trades.
According to Rose, some local brokers charge US$10-25 per trade to participate on international markets, something many investors may not be able to afford.
For his part, Thompson said that investors should be cognizant of the “inherent risks” associated with investing in international markets.
The Cast
Andre Thompson
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