Brridgetown.
Jamaica Money Market Brokers (JMMB) the largest investment brokerage house in the region is advising the Trinidad and Tobagp conglomerate Neal & Massy Holding Limited to look for fresh opportunities in Barbados.
Neal &Massey owns Barbados Shiping and Trading and has recently closed two of its businesses and is selling the Almond Beach Resorts properties.
JMMB is advising the Trinidad company to invest in new areas of activity in Barbados, which it believed had potential.
“Opportunities exist within the alternative energy sector, which currently accounts for 25 per cent of total consumption needs. Other areas (Neal & Massy) could exploit are the information and technology and communications sectors,” JMMB recommended in a recent analysis on the regional corporate giant.
The regional brokerage firm also based its advice on what it referred to as a reported economic improvement for the island.
“The Barbados economy is expected to grow by 0.7 per cent this year. This forecast is based on the most recent IMF estimate of average growth of 1.7 per cent for Barbados’ major trading partners (that is, the US, UK and Canada), along with improvement of approximately 1.2 per cent in consumer expenditure. In addition, private capital inflows of BBD$600 million are anticipated to enhance activity in tourism and construction sectors,” the analysis noted.
