The curtain came down on the Jamaica Stock Exchange’s 15th Best Practices Awards Banquet at The Jamaica Pegasus Hotel on December 4, 2019. It was an evening of glitters and an excellent production befitting the “world’s best performing Stock Market in 2018”.
After all the individual awards in the six (6) categories for both Junior & and Main Markets, as well as the five (5) in the Member Dealer category were announced, GraceKennedy Limited and NCB Financial Group Limited (NCBFG) were the stars of the night with both companies sharing the coveted Governor-General’s Award for Excellence, in the Main Market category. LASCO Manufacturing Jamaica Limited received the Governor General’s Award for Excellence in the Junior Market category. The overall winner in the JSE’s Member Dealers’ category went to JN Fund Management Limited. They walked away with the JSE’s Chairman’s Award.
Mrs. Marlene Street Forrest, CD, JP, Managing Director of the JSE, in her welcome, stated that, “Some of the accolades with which we were showered included being named ‘Best Performing Exchange for 2018’, coinciding with the period under which the awards are adjudged. We were also named among the ‘Top Five Best Performing Markets for 2019’. In Europe, we were bestowed with the honour of the European CEO Awards for ‘The Most Innovative Exchange for 2019’. Mrs. Forrest further noted that, “No doubt this makes best practice even more critical. The world’s Financial Communities must see us as leading the charge for best practices in, as well as, good governance of our companies. In closing, I want to briefly reflect on the historic moment when we raised the Jamaican flag at the New York Stock Exchange and promoted Jamaica through the Bloomberg channel earlier this year. We would like your help to keep the flag flying.”
Professor Neville Ying, the Chairman of the Best Practices Awards, in his video message, thanked his team for their dedication to a process that has impacted Listed Companies in a real way. He made mention of the five (5) Jamaica Social Stock Exchange’s (JSSE’s) projects and how these entities were contributing to the general society in which these Listed Companies operated; he emphasized that Companies needed to pay closer attention to the social side of their businesses.
WINNERS FOR 2018 BEST PRACTICES
The JSE’s Best Practices Awards recognizes three groups of winners; its member Dealers, (stockbrokers) and listed companies on the Main and Junior markets. The companies are assessed by a 22-member committee of top business and academic professionals on their performance over the prior year. The Member Dealers’ (stockbrokers) are evaluated on five (5) areas – Revenue Generation and Market Activity; Investor Relations; Best Website and Expansion of Investors and Listed Companies; with an overall winner being the recipient of JSE’s Chairman’s Award. The Listed Companies are evaluated in six (6) categories – Annual Report; Best Performing Company; Corporate Disclosure and Investor Relations; Website and Corporate Governance, with the overall winner receiving the Governor-General’s Award for Excellence.
MEMBER DEALERS’ AWARDS
In the category of Revenue Generation and Market Activity, the JSE recognizes Member Dealers that, during the year traded the most value on the Exchange and participated in the JSE’s Programmes:
Winner: NCB Capital Markets Limited.
Investor Relations. This award recognizes the Member Dealer that consistently exceeds customers’ expectation by providing excellent customer service.
Winner: JN Fund Managers Limited.
1st Runner up – Sagicor Investments Jamaica Limited.
2nd Runner up – JMMB Securities Limited.
Best Website. This award is given to encourage member dealers to raise the quality and efficiency of the dissemination of information to the investing public via the website.
Winner: Barita Investments Limited (for the third year).
1st Runner up – VM Wealth Management Limited.
2nd Runner up – Sagicor Investments Limited & JMMB Securities Limited.
Expansion of Investors and Listed Companies Base. This award recognizes the Member Dealer that has increased the number of clients in the Jamaica Central Securities Depository (JCSD), JSE’s main subsidiary and has listed the most companies within 2017.
Winner – JMMB Securities Limited & Sagicor Investments Jamaica Limited
1st Runner up – NCB Capital Markets Limited.
The Chairman’s Awards for the Overall Winner in the Member Dealers’ Category went to NCB Capital Markets Limited & Sagicor Investments Limited.
LISTED COMPANIES AWARDS (for Junior and Main Markets Listed Companies)
Annual Report Award. This award is given to encourage publicly listed companies to produce clearer, more reader-friendly annual reports and to provide greater insight into the companies’ financial affairs, governance practices and business activities.
Junior Market
Winner: Caribbean Producers Jamaica Limited.
1st Runner up – Lasco Distributors Limited.
2nd Runner up – Lasco Manufacturing Limited.
Main Market:
Winner: GraceKennedy Limited
2nd Runner up – NCB Financial Group Limited and Jamaica Producers Limited
The Best Performing Company Award seeks to identify and recognize outstanding performance by Listed Companies in enhancing shareholders’ value in the areas of capital efficiency, profitability and direct return on shareholdings.
Junior Market
Winner: Cargo Handlers Limited.
1st Runner up – Caribbean Flavours & Fragrances Limited.
Main Market
Winner: Carreras Limited.
1st Runner up – Salada Foods Jamaica Limited.
Corporate Disclosure and Investor Relations award serves to recognize companies that maintain good investor relations with the wider investing public and make timely and accurate reports and announcements to the JSE. The winners are:
Junior Market
Winner: Honey Bun (1982) Limited; (second consecutive year).
1st Runner up – Lasco Financial Services Limited.
2nd Runner up – Paramount Trading (Jamaica) Limited.
Main Market
Winner: JMMB Group Limited.
1st Runner up – NCB Financial Group Limited.
2nd Runner up – GraceKennedy Limited.
The Best Website Award seeks to encourage Listed Companies to raise the quality and efficiency of the dissemination of information to the investing public via their websites.
Junior Market
Winner: Lasco Manufacturing Limited.
1st Runner up – Caribbean Producers Jamaica Limited.
2nd Runner up – Lasco Financial Services Limited.
Main Market
Winner: Mayberry Investments Limited.
1st Runner up – Barita Investments Limited.
2nd Runner up – Carreras Limited.
The PSOJ/JSE Corporate Governance Award seeks to recognize companies that demonstrate and practice outstanding corporate governance.
Junior Market
Winner: Honey Bun (1982) Limited.
Main Market
Winner – NCB Financial Group Limited; (second consecutive year).
1st Runner up – GraceKennedy Limited; (second consecutive year).
2nd Runner up – Scotia Group Limited; (second consecutive year).
The Governor General’s Award for Excellence for the Overall Best Practices Award Winner:
Junior Market
Lasco Manufacturing Jamaica Limited
Main Market
GraceKennedy Limited and NCB Financial Group Limited
Master of Ceremonies was Dr. Terri Karelle-Reid who, along with Mr. Ricardo Allen, member of the Best Practices Awards Committee, announced the winners of the awards.
