Forex Challenges Drive Up AS Bryden’s Costs

• Difficulties in accessing foreign exchange have forced AS Bryden and Sons Holdings Ltd (ASBH) to increase its United States dollar borrowing, resulting in higher interest costs, chairman Paul B Scott has said.
• “ASBH has significant operations in Trinidad where access to the US$ has been a challenge in the last year. This has led to increased borrowing of US$ and thus, higher interest costs, as we pay our payables,” Scott said.
• “As we grow our business outside of Trinidad, these US liabilities will be matched by earnings in US$ or convertible currencies. We are confident that we will be able to continue and support the growth of the company and our commitment to our principals in growing their business,” he said.
• ASBH faced challenges in accessing foreign exchange in Trinidad and Tobago, prompting the company to engage in costly hard currency swaps. CEO Richard Pandohie noted that while this has become part of the cost of doing business there, ASBH is working to mitigate its impact through increased exports and strategic acquisitions.
• ASBH is building a state-of-the-art, US$25Mn regional distribution centre in central Trinidad, expected to be completed by February 2026. The facility will consolidate seven warehouses, improve operational efficiency, reduce lead times, and strengthen supply chain responsiveness across the Caribbean.
• Additionally, ASBH is advancing its digital transformation strategy that incorporates automation, AI, and advanced analytics to enhance decision-making, productivity, and service delivery. This initiative is also well underway at its subsidiary Caribbean Producers Jamaica Limited (CPJ) and is expected to be completed in 2025.

(Source: Trinidad Express)