Business in brief

JN Money Services

Remittance and bill payment services company JN Money Services Limited has added nine JN Money Transfer full-service branches and agencies in the United States, the United Kingdom, Canada and the Bahamas during a four-month period ending in November. The company, a subsidiary of Jamaica National Building Society, added two full service branches to its New York locations at Courts USA stores in the boroughs of Queens and Brooklyn; one branch in Manchester, England. Another was also opened in Scarborough, Ontario, Canada and the company also commenced operations in the Bahamas in November following an agreement with Bramer Money Transfers, which trades as Cash N’ Go in five locations across the Bahamas.

“These new locations follow on our strategic acquisition of the QuikCash Money Transfer assets in the Cayman Islands in the summer of 2010, which has already resulted in our dominance of the Cayman to Jamaica remittance corridor,” said Leesa Kow, general manager of JNMS. She said the expansion into the Bahamas, through Cash N’ Go money stores, has further extended the company’s reach in the English-speaking Caribbean. JN Money Services is the largest fully Caribbean-owned money transfer operation in the region. The company also operates through agents in Dominica and St Vincent and the Grenadines.

Recent World Bank statistics indicate that, despite the worldwide decline in remittances, money transfers to the Caribbean and Latin America are growing, although slower than expected for 2011. Remittances to the region are forecast at US$61 billion, above the US$57 billion flowing into the region in 2010.

Jamaica, in particular, continues to record positive growth, with Bank of Jamaica figures this year showing a 7.3 per cent increase for the first eight months when compared with remittance inflows in 2010.

Ogier

Ogier Cayman announced its involvement as part of an international legal team in the merger of Australian resource company, Adamus Resources Limited, with Cayman-domiciled Endeavour Mining Corporation.

As a combined firm worth approximately US$600 million, Endeavour is a publicly-traded, growth-focused West African gold production and exploration company domiciled in the Cayman Islands. Following completion of the merger, shares of Endeavour were traded on the Australian Securities Exchange (symbol: EVR), in addition to its existing listing on the Toronto Stock Exchange (symbol: EDV) on 20 December.

“Our work on the Adamus-Endeavour merger is an excellent example of our corporate and commercial team’s expertise in mergers and acquisitions, particularly in the resource sector,” said Ogier Cayman partner Peter Cockhill.

“The dynamism and growth of companies involved in the commodities sector, particularly gold and other precious metals, represent an area of growth in terms of M&A and structuring work,” said Ogier Senior Associate Bradley Kruger, who worked directly with Adamus in support of the deal.

DMS

Dms Organization Ltd teamed up with nonprofit organisation Cayman Acts of Random Kindness (Cayman ARK) to spread the holiday cheer.

In an effort to ensure the less fortunate children of Cayman received gifts this year, DMS raised funds by organising a dress down day and an in house raffle draw. The draw included prizes donated by Cost U Less and other prizes donated by Rohelios Car Care Center, Paradise Coffee, Agua Restaurant, Havaianas and half a day off work for DMS employees to win.

DMS matched the amount raised to total more than CI$2,000. With these funds, DMS employees went shopping and bought toys to donate to Cayman ARK’s island-wide effort to benefit Cayman’s youth past holiday season.

“The response to ARK’s Giving is Receiving Project has been phenomenal. We were overwhelmed when DMS delivered a truck-load of beautiful toys to us and excited about what joy they will bring to many families this Christmas”, said Alison Lomax of Cayman ARK.

Cayman ARK received donations of children’s toys and household items from organisations and individuals alike, which they then arranged to distribute to families island wide.

Tara Nielson, who is also involved with Cayman ARK, said, “We are grateful to the DMS Gives Back committee for helping to bring this effort together which brings such relief to parents and grandparents who cannot afford to purchase gifts for the children.”

Cayman ARK is a nonprofit organisation that seeks to make a difference with small Acts of Random Kindness, all the while sharing good times with friends who share a kindred spirit and kind heart. One of their many charitable endeavours this year included the toy and household items drive for donations to families in Cayman who are less fortunate.

KRyS Global

Kenneth M Krys, founder and CEO of KRyS Global, is among a group of professionals to pass the Certified Specialist in Asset Recovery certification examination. Mr. Krys has earned the privilege of using the prestigious designation CSAR, or Certified Specialist in Asset Recovery. The CSAR credential is earned by individuals who pass a four-hour examination administered by the International Association for Asset Recovery. The CSAR certification is evidence that designees are competent and knowledgeable in asset recovery, regardless of their professional specialisation.

To date, there are approximately 50 individuals with the CSAR certification worldwide, and only three of which are located outside the United States. Mr. Krys, being one of those three, is the only individual known to hold the certification in the Caribbean.

Kirk Supermarket

Kirk Supermarket’s Executive Chef and Manager for Kirk Deli Joao Baptist Fernandes was awarded the bronze medal for “Chef of the Year” at the Cayman Culinary Society’s 21st Annual Culinary awards of Excellence Competition.

“It was a wonderful experience for me. I participated in 2000 and wanted to do it again. My dishes were extraordinary. I used my own recipes and used local products, including vegetables and fruits. One of my specialties was the Beer and Cassava Soup which included our local beer. The contenders were very strong and it was a good experience to compete with them,” said Mr. Fernandes.

Mr. Fernandes, who has more than 23 years in the industry, was born in Goa, India and has Portuguese influence. He was also featured in the book of international Who’s Who of Chefs – 2004/2005 edition. Kirk Deli provides a range of gourmet foods and freshly baked products, as well as catering services.

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