GraceKennedy Ltd, Honey Bun (1982) Ltd and NCB Capital Markets Ltd repeated their 2021 top performances at the Jamaica Stock Exchange’s 18th Best Practices Awards

• December 28, 2022
• 11:18 am

Professor Neville Ying (standing), who has served as the Chairman of the Best Practices Awards Committee since its inception, is being applauded for his sterling contribution.

The 18^th Best Practices Awards Ceremony by the Jamaica Stock Exchange (JSE) was held for the first-time, fully face-to-face, since 2019 due to the COVID-19 restrictions. The Awards ceremony, which was held at The Jamaica Pegasus Hotel on December 7, 2022, saw multiple repeat winners in the various categories, including the prestigious Governor-General's awards for Excellence, in the Main and Junior Markets, and the Top Member Dealer's, JSE Chairman's Award.

Defending their positions, GraceKennedy Limited and Honey Bun (1982) Limited, captured the prestigious Governor-General's Award for the Main and Junior markets, respectively. NCB Capital Markets Limited, also repeated their winning performance, by copping the Chairman's Award for overall Best Member Dealer.

Dr Marlene Street Forrest, JSE Group's Managing Director, said, "The Best Practices Awards was started in 2004, and has been successful. Successful because even as the economic landscape has changed greatly and the world and ways of doing business have also changed since our first edition, we have kept abreast of these changes in the measurement and inclusion of best practices. It is therefore only fitting that we are here tonight, once again, to celebrate those companies who have embraced these changes and who lead the way in their best practices."

Dr. Street Forrest also emphasized, "It was these excellent practices that ground organizations and will propel a company through stormy waters. This is now applied science as we have all been tested over these few years and are continuing to be challenged. My message for you is to stay strong and continue in the pursuit of excellence despite the challenges."

The Best Practices Awards Chairman, Professor Neville Ying, in his message quoted Julius Caesar by Shakespeare, "It is those who grasp opportunities and take calculated risks in the midst of challenges that will be competitive, resilient and successful in a sustained manner."

Professor Ying also thanked the Best Practices Awards Committee and its subcommittees and the staff of the Jamaica Stock Exchange for their professional contributions, commitment and energy that they display each year in this significant Best Practices evaluation exercise.

He went on to state, "I exhort you to implement five important transformational servant leadership actions: Trusting, Inspiring, Stimulating, Empathizing and Empowering. First, build and maintain strong bonds of trust with the people you serve. Second, inspire the people you serve to sustain their high levels of motivation. Third, engage the people you serve in creative and divergent thinking. Fourth, listen to understand the emotional responses of the people you serve. These include their fears, concerns, excitement and expectations, while they grapple with the imperative for making radical changes. And, most importantly, assist them to deal effectively with their emotional responses. Fifth, and final, empower the people you serve to improve the quality of their lives."

AWARDS CATEGORIES & ASSESSMENT

The JSE's Best Practices Awards recognize three distinct groups of winners as follows: JSE Member Dealers (Stockbrokers), Main Market and Junior Market listed companies.

JSE's Member Dealers

Members are evaluated in four (4) areas: (1) Revenue Generation and Market Activity, (2) Website, (3) Expansion of Investor Base, and (4) Expansion of Listed Companies' Base. For this group, there is one overall winner.

Listed Companies

Listed companies are evaluated in five (5) categories: (1) Annual Report, (2) Best Performing Company, (3) Corporate Disclosure and Investor Relations, (4) Website and (5) Corporate Governance (this latter award is in collaboration with the Private Sector Organisation of Jamaica, PSOJ). There is one overall winner for the Junior Market and one overall winner for the Main Market.

These evaluations are done by collating the results of surveys, questionnaires and evidence from records held at the JSE. The information and results are then examined and discussed by a twenty-two-member (22) committee, comprising top business and academic professionals across varying sectors.

THE AWARDEES AND CATEGORIES FOR 2021

MEMBER DEALERS' AWARDS

Revenue Generation & Market Activity Category: In this category, the JSE recognizes Member Dealers that during the year traded the most value on the Exchange and participated in the JSE's Programmes.

Winner - NCB Capital Markets Limited

1^st Runner Up - Mayberry Investments Limited

2^nd Runner Up - Sagicor Investments Jamaica Limited

Investor Relations Category: This category recognizes the Member Dealer that consistently exceeds customers' expectation by providing excellent customer service.

Winner - JMMB Securities Limited

1^st Runner up - Proven Wealth Limited

2^nd Runner up - Barita Investments Limited

Website (Member-Dealer) Category: This category is given to encourage member dealers to raise the quality and efficiency of the dissemination of information to the investing public via their website.

Winner - JMMB Securities Limited

1^st Runners Up - Barita Investments Limited

2^nd Runners Up - Sagicor Investments Jamaica Limited

Expansion of Investors & Listed Companies Base Category: This category recognizes the Member Dealer that has increased the number of clients in the Jamaica Central Securities Depository (JCSD), JSE's main subsidiary and has listed the most companies in 2021.

Winner - NCB Capital Markets Limited

1^st Runner Up - JMMB Securities Limited

2^nd Runner Up - Sagicor Investments Jamaica Limited

The Overall Winner in the Member Dealers' Category went to NCB Capital Markets Limited, which received The Chairman's Award.

LISTED COMPANIES' AWARDS

(For the Junior Market & Main Market)

Annual Report Award: This award is given to encourage publicly listed companies to produce clearer, more reader-friendly annual reports and to provide greater insight into the companies' financial affairs, governance practices and business activities.

Junior Market

Winner - Lasco Manufacturing Limited

1^st RunnerUp - Lasco Distributors Limited

2^nd Runner Up - Honey Bun (1982) Limited

Main Market:

Winner - GraceKennedy Limited

1^st Runner Up (Joint Winners) - JMMB Group Limited & Sagicor Group Jamaica Limited

Best Performing Company Award: This award seeks to identify and recognize outstanding performance by listed companies in enhancing shareholders' value in the areas of capital efficiency, profitability and direct return on shareholdings.

Junior Market

Winner - Cargo Handlers Limited (fourth consecutive year)

1^st Runner Up - Jamaica Teas Limited

2^nd Runner Up - Honey Bun (1982) Limited

Main Market

Winner: Carreras Limited (4^th year running)

1^st Runner Up - Salada Foods Limited

2^nd Runner Up - Pulse Investments Limited

Corporate Disclosure & Investor Relations Award: This award recognizes companies that maintain good investor relations with the wider investing public and make timely and accurate reports and announcements to the JSE.

Junior Market

Winner - Honey Bun (1982) Limited

1^st Runner Up - CAC 2000 Limited

2^nd Runner Up - Lasco Financial Services Limited

Main Market

Winner - NCB Financial Group Limited

1^st Runner Up - GraceKennedy Limited

2^nd Runner Up - Scotia Group Jamaica Limited

Website: This award seeks to encourage listed companies to raise the quality and efficiency of the dissemination of information to the investing public via their websites.

Junior Market

Winner - FosRich Company Limited

1^st Runner Up - tTech Limited

2^nd Runner Up - Lasco Distributors Limited

Main Market

Winner - JMMB Group Limited

1^st Runner Up - Barita Investments Limited

2^nd Runner Up - GraceKennedy Limited

PSOJ/JSE Corporate Governance Award: This Award seeks to recognize companies that demonstrate and practice outstanding corporate governance.

Junior Market

Winner

1^st Runner Up - CAC 2000 Limited

Main Market

Winners - GraceKennedy Limited (for the 2^nd year running)

1^st Runner Up - Scotia Group Jamaica Limited

2^nd Runner Up - NCB Financial Group Limited

OVERALL WINNERS

The Governor-General's Award for Excellencefor the Overall Best Practices Winner

Junior Market

Honey Bun (1982) Limited (2^nd consecutive year)

Main Market

GraceKennedy Limited

Mr. Andre Gooden, Business Development Manager, JSE Group, gave the vote of thanks to bring the evening's proceedings to an end.