Sweet River Abattoir & Supplies Company Limited (SRA) became the twenty third company to list its shares on the Junior Market board of the Jamaica Stock Exchange (JSE) on Friday, September 19, 2014. Sweet River Abattoir & Services, which is classified within the manufacturing industry, will be the first company to be listed on the Junior Market from Westmoreland. The listing of Sweet River Abattoir Junior Market, companies would have raised 3.4 billion Jamaican dollars via the market, despite a seemingly challenging economic circumstances. He went on to say that in spite of what was happening in the economy, there are institutions and companies still preforming well above expectations. He implored companies to use institutions such as the Stock Exchange to further their growth and development as the Stock Exchange is an entrenched organization which is committed to the growth of the country.
Mr. Levy further spoke to the change coming in the financial service industry, as related to the conduct of retail repurchase business. The change is being directed by the Financial Services Commission (FSC) and overseen by the International Monetary Fund (IMF), he noted that there would be a “whole new ball game” coming to the financial landscape in Jamaica that the financial industry needs to prepare for. He reminded of the Exchange’s unshakable commitment to the task of growing the capital market and supporting its players.
He noted the Company’s plan to expand its facility from being able to currently process 150 pigs per day to processing over 300 daily, while meeting international sanitary standards, within the next two years and to export across the Caribbean and even be able to supply pre-packaged pork products to the over 3 million Jamaicans living in the diaspora.
