Caribbean Value Investor has compiled a list of The TOP 10 listed companies on the Jamaica Stock Exchange ordered by Market Capitalisation.
In our previous post, we looked at the numbers 10 through 6. Click here to see the list.
Now let’s meet the big boys, here are the TOP 5 of the Top 10 Listed companies on the Jamaica Stock Exchange. Please be reminded that this list is organised in order of market capitalisation.
TOP 10 Listed Companies – No. 05: Carreras
Registered Name: CARRERAS LIMITED
Ticker Symbol: CAR
Industry: Trading and Distribution
Company Description (from the 2016 Annual Report)
Carreras Limited is a marketing and distribution company incorporated and domiciled in Jamaica. The company’s ultimate parent company is British American Tobacco plc which is incorporated in the United Kingdom and is listed on the London Stock Exchange. The company is a 50.4% subsidiary of St. Lucian incorporated Rothmans Holdings (Caricom) Limited and makes most of its income from the marketing and distribution of cigarettes.
Caribbean Value Investor calculated the company’s market capitalisation as US $417, 956, 282.23
TOP 10 Listed Companies– No. 04: Kingston Wharves Ltd.
Registered Name: KINGSTON WHARVES LIMITED
Ticker Symbol: KW
Industry: Shipping and Logistics
Kingston Wharves Limited, together with its subsidiaries are incorporated and domiciled in Jamaica. The company was founded in 1945 and has received numerous awards from the Caribbean Shipping Association. The main activities of the company include the operation of logistic services, security services, public wharves and the rental of cold storage facilities. The company’s rates are subject to regulation by the Port Authority of Jamaica.
Caribbean Value Investor calculated Kingston Wharves’ market capitalisation as US $ 449,819,021.23
TOP 10 Listed Companies – No. 03: Sagicor
Registered Name: SAGICOR GROUP JAMAICA LIMITED
Ticker Symbol: SJ
Industry: Financial Services (Commercial and Retail Banking, Insurance)
Sagicor Group Jamaica Limited is a financial services company providing health and life insurance, retirement products, pension administration, investment banking, retail banking, securites trading and insurance brokerage in Jamaica. The company is owned in part by LOJ Holdings Limited which is also incorporated in Jamaica and is wholly owned by Sagicor Financial Corporation (SFC). SFC which is incorporated in Bermuda is the ultimate parent company having 49.11% ownership of the Sagicor Group. The other major shareholder is PanJam Investments Limited which is also among out TOP 10. PanJan Investments Limited currently has 31.55% ownership of the company.
Caribbean Value Investor calculated Sagicor’s market capitalisation as US $ 1,151,606,458.76
TOP 10 Listed Companies– No. 02: Scotia Jamaica
Registered Name: SCOTIA GROUP JAMAICA LIMITED
Ticker Symbol: SGJ
Industry: Financial Services
Scotia Group Jamaica Limited (incorporated and domiciled in Jamaica) is a 71.78% subsidiary of Scotiabank Caribbean Holdings Limited (incorporated and domiciled in Barbados). The ultimate parent company is The Bank of Nova Scotia, a Canadian company. Scotia bank is the second largest commercial bank in Jamaica and offers life insurance, mortgage financing, investment banking, fund management through its subsidiaries.
Caribbean Value Investor calculated Sagicor’s market capitalisation as US $ 1,247,760,828.62
And now for the Number 1. The largest listed company on the Jamaica Stock Exchange…
TOP 10 Listed Companies – No. 01: NCB
Registered Name: NCB FINANCIAL GROUP LIMITED
Ticker Symbol: NCBFG
Industry: Financial Services
NCB Financial Group Limited, NCBFG (incorporated and domiciled in Jamaica) is the majority shareholder of the largest and most well known commercial bank, National Commercial Bank Jamaica Limited (NCB). The Company is 49.17% owned by AIC (Barbados) Limited. The ultimate parent company is Portland Holdings Inc., incorporated in Canada. Portland Holdings Inc. is controlled by billionaire businessman The Hon. Michael A. Lee-Chin, OJ. Mr. Lee Chin chairs the company. NCBFG was established during the 2016 financial year. Previously, the shares of NCB were listed on the Jamaica and Trinidad and Tobago Stock Exchanges.
The company has numerous subsidiaries in Jamaica and the wider Caribbean that provide Stock Brokerage, commercial banking, general and life insurance, merchant banking, pension fund management, Trust and Estate Management Services. Recently, the company purchased controlling interest in Guardian Holdings Limited, a leading life insurance provider in Trinidad and Tobago.
Caribbean Value Investor calculated NCBFG’s market capitalisation as US $ 1,919,606,204.49.