At a Renaming Ceremony held at the JSE Headquarters, Downtown, Kingston, a new strip with PanJam Investment Limited was inserted on the JSE’s Main Market Listing Board.
PanJam Investment Limited has the distinction of having its shares listed from the inception of the Jamaica Stock Market and trades on the JSE’s Main Market under the ticker symbol PJAM. PanJam made a profit of $4.5B in 2016, up from 3.25B in 2015, a 1.1B or 34% increase over 2015. PanJam holds the distinction as being the first company to have an activity on the JSE’s Main Market Board, in 2017.
In his congratulatory remarks to PanJam, Mr. Robin Levy, JSE’s Deputy General Manager and General Manager of the Jamaica Central Securities Depository (JCSD), a subsidiary of the JSE, that manages the depository and settlement services for securities traded at the JSE, said, “PanJam is seeing the vision of developing Downtown with the work that is being done at the old Oceana Hotel. This is a very positive initiative which will assist in the revitalization of the Downtown area. We at the Jamaica Stock Exchange are very committed to Downtown Kingston, have always had our offices here and will continue to be a part of the landscape of Downtown.” “PanJam Investment has been an integral part of the Real Estate Market, with its main focus being in New Kingston and rural areas. However, I would like to see PanJam taking the lead in the redevelopment of Downtown Kingston.”
He continued, “The Private Sector should not wait on the Government to redevelop Downtown, it should be a Private Sector-led initiative, and especially by PanJam Investment Limited. What the Government should now do is to have a derelict tax to ensure that property owners in Downtown, Kingston, either demolish the derelict buildings or develop their property to allow Downtown, to once again be the commercial hub of the island.”
Mr. Stephen Facey, PanJam’s Chairman and CEO, in his address at the Ceremony, said “PanJam has been very active in the redevelopment of Downtown as they have completed several projects, including the refurbishing of the Jamaica Stock Exchange building, as well as the construction of Scotiabank and the Air Jamaica building, and most recently, the refurbishing of the Oceana Hotel.” He went on to say that with the modernizing of PanJam, it was important for the Company to have a name change in keeping with their forward-thinking. Mr. Facey thanked all the persons who contributed to the development of PanJam over the past 50 years of its history and spoke positively of PanJam in its quest for continued growth over the next 50 years. PanJam’s Chief Operating Officer, Mr. Paul Hanworth who was also present at the occasion spoke of the additional business lines of the organization other than Real Estate, which was Tourism, through Chukka Caribbean Adventure; Building and Construction, through Hardware & Lumber Limited and Farming through Walkerswood Caribbean Foods and Mavis Bank Coffee Factory.