Business in brief

National Building Society of Cayman 

National Building Society of Cayman hosted a mortgage fair to present real estate investment opportunities in Jamaica. 

The event saw presentations from representatives of NBSC and its parent company Jamaica National Building Society on steps to home ownership, as well as on JNBS mortgage products and services. 

Jean Look-Tong, Jamaica National executive, Marketing Sales and Promotions, said the Mortgage Fair was an opportunity to inform residents in Cayman of the real estate investments available in Jamaica. 

Prospective mortgage customers had direct access to JNBS mortgage representatives, who outlined how to access a mortgage through the Society, and real estate developers and agents, who updated them of the properties that are now available on the market, she said. 

Mrs. Look-Tong noted that Jamaica has the most attractive conditions for real estate investments at this time and that investors who wish to own a home in Jamaica should capitalise on the opportunities. 

“We are now experiencing a single digit mortgage rate environment and one of the lowest statutory costs associated with transfer and sale of real estate such as, transfer tax and stamp duty, which are the lowest they have been in decades,” she said. 

She said the JNBS has one of the lowest Mortgage Rates on the market where new and existing mortgagors can access a rate of 9.4 per cent with up to 90 per cent financing of the property. “Now is the perfect time to buy a property in Jamaica,” she said. 

Dunbar McFarlane, general manager of NBSC, said the subsidiary was happy to partner with its parent company to host the fair. He said that the principal activities of NBSC are granting home loans and deposit taking by way of regular savings accounts and fixed deposits. 

 

Mourant Ozannes 

Mourant Ozannes, has appointed Tracey Forbes as an articled clerk. She is a graduate of the University of Liverpool where she gained her Bachelor of Law with Honours in 2010 before completing her Legal Practice Course at the College of Law, Manchester in 2011. She is currently undertaking a Masters Degree in International Legal Practice, specialising in Corporate and Commercial Law. 

Prior to joining Mourant Ozannes, Tracey gained extensive experience at local law firms in the Cayman Islands and spent a month undertaking pro bono work in legal clinics across Kenya, Rwanda and Uganda in Africa. 

Tracey is currently working in the Litigation Department of Mourant Ozannes Cayman and is a student member of the Caymanian Bar Association.  

Commenting on her appointment, Neal Lomax, managing partner, Cayman, said: “We are delighted to welcome Tracey to the team and trust that she will benefit from the experience she gains with us. Mourant Ozannes is committed to the training and development of its articled clerks.” 

 

Crusader/Marsh 

For the 2011-2012 school year, Crusader International Management (Cayman) Ltd and Marsh Management Services (Cayman) Ltd, usually competitors in the captive insurance arena, teamed up to sponsor a Junior Achievement company in JA’s Company Programme. Having individually sponsored groups in the past, the two companies decided to combine their resources for this year’s programme.  

The JA Company Programme is a volunteer led programme that encompasses a business, entrepreneurship and economics curriculum for students in grades nine through twelve. The programme emphasises business content, while providing a strong focus on social studies, mathematics, reading, and writing skills. Through the course of the 18 week programme, the students incorporate a company to conceptualise, produce, market and sell a product. 

This year’s Crusader/Marsh led company was called IBox. To encourage recycling, the students decorated used cigar boxes to be sold as keepsake / trinket boxes. They also sold sun kits to promote skin cancer awareness and good sun health. 

“This was a great opportunity to instil a good work ethic within our youth and to get them interested in running their own business,” said Crusader President Fiona Moseley.  

Clayton Price, managing director of Marsh Management Services said, “As professional insurance managers we are privileged to have been able to share our knowledge and inspire the entrepreneurial spirit of this talented group of young Caymanian students.” 

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