Veteran businessman, Michael Lee-Chin, is partnering with financial journalist Kalilah Reynolds to help mentor and guide the next generation of Jamaican entrepreneurs.

Speaking on Taking Stock with Kalilah Reynolds, Lee-Chin said that mentorship is one of his passions, and he would love to share his knowledge with Jamaican entrepreneurs.

“I’ll make you a deal, Kalilah. You put together the forum, because you’re a genius at that, and I’ll turn up and do whatever I can… so that others can learn from my experiences,” Lee-Chin said.

The businessman has committed to four mentorship sessions over the next year. The session will run for two hours each and will see up to 10 participants receiving personalised advice from Lee-Chin.

The businessman said he feels he has to repay the country that got him started in the business world and has contributed so much to his success.

Right time to invest in NCB

Lee-Chin, the Board Chairman for NCB Financial Group, also reassured investors that the company will eventually pay its shareholders dividends. 

NCBFG has not paid investors dividends in over two years. A fact that analysts have suggested is contributing to the stock’s tumbling price. The stock is down 15% since the start of the year, trading at $67.95 on June 9. 

However, Lee-Chin said the company is still very profitable and undervalued at its current price.

“The business is doing well. It’s a great business and NCB has a strong position in Jamaica and because of our ownership of Guardian we have a fantastic insurance business right through the Caribbean,” he said.

“The company has been storing dividends to make sure we stay ahead of any unknown challenges that may come and that we’re maintaining a strong balance sheet,” he explained.

“At some point though dividends will be paid and the irradiate investor should always look at the business and know when to buy because that’s how wealth is created. You buy low,” he added. 

Reassuring his assets

During his hour-long interview, Lee-Chin also reassured NCB customers and shareholders that his health is fine. 

Intense speculation surrounding the businessman’s health was brought on by his recent announcement that he’s taking a three-month leave of absence from his role as Board Chairman of NCBFG.

Additionally, the businessman has also sold several of his assets, including his 337-foot mega yacht, his mansion in Grand Cayman, CVM Television and Reggae Beach in St Mary. 

However, Lee-Chin vehemently denied any claims of poor health, noting that he does 72 push-ups daily, to mark his 72 years on Earth.

As for divesting his assets, the businessman said that he is simply reevaluating his portfolio and how he allocates his capital.

“Periodically you have to take stock, it’s like spring cleaning. You accumulate these things and then you say ‘hmm, am I getting optimal use out of these assets?’ Is there a better way for me to be using my capital?”, he explained.

The billionaire explained that he is currently focused on two passion projects of his. They are alternative cancer treatments with limited side effects for patients and clean energy alternatives through nuclear energy. 

He noted that both projects are at crucial stages and require his dedication and time.