According to Dr. Nigel Clarke, Minister of Finance and Public Service, having cash reserves that can be utilised to seize chances is beneficial for Jamaica’s expansion and advancement.
Addressing the inaugural ‘Sygnus Day,’ hosted by the alternative investment firm, Sygnus, Clarke said the Andrew Holness government is supporting a deepening of capital markets to enable a Jamaica where capital is commoditized.
Having pools of capital that can be used to pursue opportunities is conducive to the country’s growth and development, says Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke.
Speaking at the first official Sygnus day on Thursday, Finance Minister Dr Nigel Clarke, explained the importance of providing investment opportunities for the private sector.
Sygnus is hosting an alternative investment summit on September 22, 2022, in Kingston, Jamaica. The conference, dubbed “Sygnus Day”, will be held under the theme: “The Emergence of Regional Alternative Investments” in a hybrid format.
DESPITE the 24 per cent drop in consolidated net profit to US$3.82 million ($579.43 million) for its 2022 financial year (FY), Sygnus Credit Investments Limited (SCI) is looking to reimagine its growth profile as it focuses on expanding its private credit offerings in the region along with scaling its Puerto Rican operations.
Having completed its US$21.22-million acquisition of Puerto Rico-based Acrecent Financial Corporation on February 28, Jamaica-based Sygnus Credit Investment (SCI) says it is on the verge of completing the integration of the entity into the Sygnus family. The date for completion is set at July 2022, four months after the acquisition and much faster than the normal one to two years these transactions normally take to finalise.
Alternative investments funder Sygnus Investments indicates that it has signed luxury hospitality operator Wischermann Partners, Inc, and design and architecture firm Leo A Daly for its Mammee Bay resort development.
On the heels of Sygnus Credit Investments Limited (SCI) acquisition of Puerto Rico-based Acrecent Financial Corporation in December 2021, the Sygnus Capital Group will not only be expanding its alternative investment platform through Puerto Rico, but will expand its investment banking capabilities to Puerto Rico as well as the wider Caribbean region.
Sygnus Credit Investments (SCI) has declared a record interim dividend of US$1,550,000 following the audited results for the financial year ended June 2021.
