138 Student Living Jamaica Limited (138SL) has advised that Mr. John Lee has resigned from the position of Chairman of the Board of 138 Student Living and its subsidiary effective July 6, 2018, and Mr. Richard Byles has been simultaneously appointed to the Board and will take-up the position of Chairman of the Company, effective the same date.  138 SL has further advised that Mrs. Donnette Scarlett has also reigned from the Board effective July 6, 2018 and her position as Director will be assumed by Mr. Richard Byles.

“Mr. Lee will remain as a Director of the Board.  Mr. Lee is of the belief, that having held the position of Chairman since the inception of the project in July 2013, now 5 years, it is important for the company to have new leadership facilitating renewal on a regular basis and accordingly has vacated that position. During his five year tenure Mr. Lee and his Board conceptualized the project, negotiated 2 Concession Agreements and constructed and commenced operating 1,800 beds on the University of the West Indies Mona Campus.

“The Board wishes the express it sincere gratitude for the leadership and stewardship of the company by Mr. Lee during his five-year tenure and looks forward to Mr. Lee’s continued contribution on the board. In addition, the Board and Management of 138 Student Living look forward to the leadership of Mr. Byles, one of Jamaica’s most iconic business leaders,” states 138SL.

Source: JSE

Sterling Investments Limited (SIL) has advised that a director purchased 10,000 SIL shares on July 5, 2018, under the Company’s Complementary Share Purchase Plan.

Supreme Ventures Limited (SVL) has advised that a meeting of their Board of Directors will be held on Monday, July 23, 2018, at 10:30 am, to consider the payment of an interim dividend.

Sagicor Group Jamaica Limited (SJ) has advised that a Senior Officer and a connected party sold a total of 62,661 SJ shares during the period June 29 to July 2, 2018.

(Bloomberg) -- IMF releases statement by email on Trinidad & Tobago economy.

- Economy expected to return to 1.5% growth over medium term helped by energy projects coming online and recovery in the non-energy sector

- The economy improved in 2nd half of 2017 on a strong recovery in gas production

- GDP contracted 2.6% in 2017, 6.1% in 2016

- Fiscal deficit expected to narrow to avg of 4%/GDP as energy revenues rise

- Fiscal performance improved on spending cuts in 2017

- Total public debt reached 61%/GDP

- Risks include lower energy prices, disruptions in energy output, implementation of the reform of oil and gas tax regime

- IMF urges fiscal adjustments over the medium term to create fiscal space for future commodity shocks and put debt on a downward trajectory

The Stanley Motta Limited Initial Public Offering Prospectus and Investor Presentation are available for viewing.

Productive Business Solutions Limited (PBS) has advised that their Board of Directors has declared a dividend in the sum of $125,430,411.02, which is payable to the J$Cumulative Preference Shareholders on July 13, 2018.

The government of Barbados this week will begin discussions with the International Monetary Fund (IMF) as it relates their and the government's debt with the IMF as well as those with domestic and foreign creditors.  In a press release, Finance Minister Ryan Straughn said Barbados’s negotiating team will work with IMF representatives from 2 to 12 July.   Straughn said the IMF officials had already started requesting data that Barbados was in the process of finalizing, such as the details on what was required to expand the economy over the next 10 years and the particular path to achieve sustainable growth. The official added that before 12 July, Barbados could have in place at least a working agreement. The government aims to get an IMF board agreement as soon as possible after the IMF team leaves Barbados on 12 July and goes through its internal review process in Washington. Prime Minister Mia Amor Mottley said on 1 June that Barbados’s public debt was as high as 171% of GDP and announced the suspension of external-debt payments and a debt restructuring, as reported.

Source: STIFEL