JIS News

Story Highlights

  • Parliamentary debate on the proposed restoration of incentives under the Junior Stock Exchange (JSE) is expected to commence during Tuesday’s (September 27) sitting of the House of Representatives at Gordon House.
  • Finance and Public Service Minister, Hon. Audley Shaw, who will pilot the debate, said this was pursued as several listed companies had benefited significantly from the incentives offered.
  • “If it wasn’t for the Junior (Stock Market), we couldn’t have done what we’ve done,” - Finance and Public Service Minister, Hon. Audley Shaw

Parliamentary debate on the proposed restoration of incentives under the Junior Stock Exchange (JSE) is expected to commence during Tuesday’s (September 27) sitting of the House of Representatives at Gordon House.

This was disclosed by Finance and Public Service Minister, Hon. Audley Shaw, during an interview with JIS News.

Mr. Shaw, who will pilot the debate, said this was pursued as several listed companies had benefited significantly from the incentives offered.

Among these entities, he stated, was Lasco Manufacturing Limited which he said has recorded notable operational developments.

The Minister argued that Lasco’s success should serve as an example to other local companies of what can be achieved by listing on the junior market.

Mr. Shaw, who toured Lasco’s plant at White Marl in St. Catherine, commended Founder and Executive Chairman, Lascelles Chin, on his accomplishments.

“I think he is a fantastic entrepreneur and an example of what we need to move from poverty to prosperity,” he noted.

Meanwhile, Industry, Commerce, Agriculture and Fisheries Minister, Hon. Karl Samuda, who also toured the plant, said he was impressed with what he saw.

“It is a world-standard business. This is what we are striving to achieve,” he said.

Mr. Samuda also highlighted the level of investments Mr. Chin has made in energy. This, he said, has significantly reduced the company’s energy bill.

“It is fair to say that this company, with its philosophy and leadership, is going to go worldwide and it’s going to only grow from strength-to-strength. I am very proud of him,” he said.

For his part, Mr. Chin lauded the Junior Stock Exchange for aiding the development of his business.

“If it wasn’t for the Junior (Stock Market), we couldn’t have done what we’ve done,” he said.

Mr. Chin informed that additional infrastructure developments are being undertaken, with new products expected to come on stream next year.

During the tour, Mr. Shaw, Mr. Samuda, and Transport and Mining Minister, Hon. Mike Henry, visited Lasco’s dry blends and liquid plant operations, and viewed construction work to build additional storage space.