JSE’s 13th Best Practices Awards – December 6, 2017

Posted: December 7, 2017 at 12:32 pm

JMMB Group Limited captured for the first time, the Governor General’s Award for Excellence for the Main Market at the Jamaica Stock Exchange’s (JSE) Best Practices Awards for 2017, while Honey Bun (1982) Limited won the equivalent for the Junior Market for the third time, having done so in 2011 and 2015.

This announcement was made at the Jamaica Stock Exchange’s 13th staging of its Best Practices Awards Banquet held at the Jamaica Pegasus Hotel on Wednesday, December 6, 2017. GraceKennedy and NCB Financial Group were joint winners of the coveted JSE/PSOJ Best Practices Award for Corporate Governance. JMMB Securities Limited retained the top Member Dealer’s they won in 2015 and also walked away with the Chairman’s Award.

Mrs. Marlene Street Forrest, CD, JP, Managing Director of the JSE, in her welcome, stated that, “As we seek to achieve growth through this medium, we are convinced that these awards are not only achieving their objectives but that the model of best practice through bench-marking, which these awards foster, provides tremendous stimulus for our listed companies and member-dealers. We expect also that best practices will improve workplace skill, reduce waste and foster greater efficiency in the use of technology.” 

In closing the JSE’s Managing Director announced that, “we have received approval to be a participant in the Canadian Central Securities Depository, which also required the approval of the Central Bank of Canada”.

Professor Neville Ying, the Chairman of the Best Practices Awards, recalled that, “As we review your companies we are also interested in how you are integrating the use of Technology with the Expertise and Creativity of your staff. He challenged the companies to achieve their growth objectives, create a competitive business enterprise or cost reduction by reducing dramatically the size of your staff, when this is taken in the context of how Technology and the GIG Economy will impact the future of work”

Professor Ying further stated that, “This year we have seen continued marked improvement in all companies assessed. Improvement in the areas of Corporate Governance, Investor Relations and Corporate Disclosure stands out for companies on both the Junior and main Markets. For the first time we had twenty-two (22) companies participating in Corporate Disclosure and Investor Relations and Corporate Governance evaluations.

Both Mrs. Street Forrest and Professor Ying paid tribute to founding committee member, the late Sushil Jain. Sushil joined the Best Practices Committee from its inception and his contribution was immense and invaluable.”

Ms. Patricia Adams, President of the Energy Probe Research Foundation and Probe International was the guest speaker for the night. She provided some background of her Foundation by stating that “development starts at home, with institutions that are constructed, brick by brick, and guided by the good values of the ordinary citizen. These principles have guided me ever since in my research at the Energy Probe Research Foundation.  We are one of Canada’s oldest environmental organizations and unlike almost every other environmental NGO in Canada, we favour free markets, both for environmental and for economic reasons.”

In her presentation, she noted that a business woman told her that capitalism is a wonderful thing because it makes us care about each other. She stated, “How true! I thought to myself, what a good way to put it because capitalism is so often portrayed as a predatory system that runs on exploitation, greed, and dishonesty. That is neither a fair nor an accurate portrayal.  Running your business by ripping off your customers, your suppliers and your investors won’t get you very far.  To be successful in business you must be honest, cooperate with others to achieve shared goals, and earn trust and a reputation for fair dealing.”

Ms. Admas concluded by stating, “In the quest for effective market regulation for sustainable growth and development, Jamaica should find its own path.  I’m confident that you will, and that the people at this gathering will help show the way.”

Master of Ceremonies, Mr. Michael Anthony Cuffe along with Dr. Nsombi Jaja, member of the Best Practices Awards Committee, announced the winners for all Awards.




In the category of Revenue Generation & 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: Sagicor Investments Limited 

1st Runner up  – Mayberry Investments Limited

2nd  Runner up – VM Wealth Management Limited


The next category to be announced was that of Investor Relations. This award recognizes the Member Dealer that: “consistently exceeds customers’ expectation by providing excellent customer service.”  

Winner: JMMB Securities Limited and Stocks & Securities Limited (declared jointly)

1st  Runner up – Barita Investments Limited

2nd Runner up – Mayberry Investment Limited


JSE Member-Dealers Award for Best Website was next. 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

1st   Runner up – Sagicor Investments Limited

2nd  Runner up – Scotia Investments Limited


The next category to be announced was the “Expansion of Investors & Listed Companies Base”. This award recognizes the Member Dealer that has “increased the number of clients in the JCSD and has listed the most companies within 2016”. 

Winner: JMMB Securities Limited

1st Runner up – VM Wealth Management Limited


The Chairman’s Awards for the Overall Winner in the Member Dealers Category went to JMMB Securities Limited for the second year running.



It was then time for the Best Practices Awards 2016 for Listed Companies to be announced.

The first award in this category was the presentation of the Best Practices – Annual Report Award for Junior & Main Markets Listed Companies. 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: Lasco Distributors Limited

1st Runner up – Lasco Manufacturing Limited and CAC 2000 Limited (declared jointly)

2nd Runner up – Access Financial Services Limited

Main Market:

Winner: NCB Financial Group Limited

1st Runner up – Scotia Group Jamaica Limited

2nd Runner up – GraceKennedy Limited


Best Performing Company Award seeks to identify and recognize outstanding performance by listed companies in enhancing shareholder value in the areas of capital efficiency, profitability and direct return on shareholdings.  Winners in the Junior and Main Market categories were:

Junior Market

Winner: Cargo Handlers Limited

1st  Runner up – Knutsford Express Services Limited 

2nd Runner up – Caribbean Flavours & Fragrances Limited

Main Market

Winner: Carreras Limited

1st  Runner up – Pan Jam Investment Limited

2nd Runner up – Berger Paints Jamaica Limited and Jamaica Producers Group Limited (declared jointly)


Corporate Disclosure & 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 were:

Junior Market

Winner: Honey Bun (1982) Limited

1st  Runner up – Knutsford Express Services Limited

2nd Runner up – tTech Limited

Main Market

Winners: JMMB Group Limited and Scotia Investments Jamaica Limited (declared jointly)

1st Runner up – GraceKennedy Limited

2nd Runner up – Scotia Group Jamaica Limited


The Best Practices 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: Caribbean Producers Jamaica Limited

1st Runner up – Lasco Financial Services Limited

2nd Runner up – Lasco Distributors Limited

Main Market

Winner: Sagicor Group Jamaica Limited

1st Runner up – Barita Investments Limited  

2nd Runner up – Carreras Limited


The PSOJ/JSE Corporate Governance Award which seeks to recognize companies that demonstrate and practice outstanding corporate governance.

Junior Market

Winner: Honey Bun (1982) Limited  

Main Market

Winners – GraceKennedy Limited and NCB Financial Group Limited (declared jointly)

1st  Runner up – JMMB Group Limited

2nd  Runner up – Scotia Group Jamaica Limited


The Governor General’s Award for Excellence for the Overall Best Practices Award went to Honey Bun (1982) Limited for the Junior Market and JMMB Group Limited for the Main Market .

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