Home' Trinidad and Tobago Guardian : October 9th 2016 Contents A15
October 9, 2016 www.guardian.co.tt Sunday Guardian
Readymix (West Indies) Limited (RML) – 06.10.2016
The Trinidad and Tobago Stock Exchange Limited (TTSE)
received notice from RML that regarding the appointment of Mr
Malcolm Sooknanan in the position of acting Finance Manager
and Company Secretary, they now wish to advise that Mr Sook-
nanan has been confirmed in the position of Finance Manager,
effective October 1, 2016.
Republic Financial Holdings Limited (RFHL) – 03.10.2016
The TTSE received notice from RFHL that Mr Robert Riley
was appointed to its board of directors, effective October 1, 2016.
Sagicor Financial Corporation Limited (SFC) – 03.10.2016
The TTSE received notice from SFC that on September 15,
2016, Standard & Poor’s (S&P) Global Ratings placed its ‘B’ issue-
level rating on Sagicor Finance (2015) Limited’s (SFL) $320 million
seven-year senior unsecured notes on CreditWatch positive fol-
lowing SFC’s re-domiciliation to Bermuda from Barbados, and
the proposed restructuring of Sagicor Life Inc. (SLI).
S&P also placed the ‘BB-‘issuer credit and financial strength
ratings of SLI on CreditWatch developing.
The rating action followed the announcement by Sagicor that
SFC had shifted its domicile from Barbados to Bermuda and had
initiated its planned corporate reorganisation. According to S&P
Global Ratings, both factors could reduce SFC’s exposure to a
Barbados potential default, as the company was no longer based
in that country. As a consequence, the Sovereign rating
on Barbados (at that time B/Negative) would no longer
impose a limit on Sagicor Finance (2015) Limited’s rating.
However, it would continue to influence the rating of SLI
as it remained domiciled in Barbados. The rating of SLI
was ‘BB-‘, two notches above the Barbados Sovereign
which was rated ‘B’.
On September 27, 2016, following the September 23,
2016 downgrade of Barbados, S&P Global Ratings revised
its CreditWatch on SLI from developing to negative; the
rating remained at ‘BB-‘. The revision recognised the fact that
the current rating of SLI, which remains domiciled in Barbados,
already reflected the maximum possible rating differential above
the now ‘B-‘ sovereign rating of Barbados. S&P Global Ratings
is completing its group support analysis as part of the CreditWatch
status and a downgrade to the level of Barbados is possible under
specific scenarios as stated in their report.
S&P Global Ratings also confirmed that the ‘B’ issue-level
rating on Sagicor Finance (2015) Limited’s $320 million seven-
year senior unsecured notes was not affected by the September
23, 2016 downgrade of Barbados from ‘B’ to ‘B-”
Market activity was up 45.90 per cent this week with
2,216,761 shares traded on the First Tier Market compared
to 1,519,361 shares traded in the prior week.
Also, the value of shares traded surged 154.85 per cent
from $12,144,388.72 last week to $30,950,291.34 this
The significant increase in the value of shares traded
was mainly attributable to heavy trading in the shares
of ANSA Merchant Bank Limited (AMBL), which saw
201,056 shares changing hands with a value of
$8,044,240.00. The volume leader this week was JMMB
Group Limited (JMMBGL) with 48.91 per cent of the
market or 1,084,318 shares traded.
For the second week in a row all the Indices saw
upward movements. The Composite Index rose by 1.28
per cent moving from 1,156.83 to close at 1,171.59. The
All Trinidad and Tobago Index increased by 0.13 per
cent moving from 1,817.13 to 1,819.56. The Cross Listed
Index jumped 5.61 per cent from 66.11 to 69.82. The
advance to decline ratio ended the week 12 to six.
JMMBGL was the major advance for a second con-
secutive week, up 14.06 per cent or $0.09 to close at
its 52-week high of $0.73.
Massy Holdings Limited (MASSY) was the major
decline, down 3.88 per cent or $2.10 to close at $52.00.
There was no activity on the Second Tier Market this
On the TTD Mutual Fund Market 26,296 CLICO
Investment Fund (CIF) units traded with a value of
$594,289.60. CIF’s price fell 0.04 per cent or $0.01 to
close at $22.60. Additionally, 20,000 Calypso Macro
Index Fund (CALYP) units traded with a value of
CALYP’s price fell 0.05 per cent or $0.01 to close at
$21.99. Also, 87,800 Praetorian Property Mutual Fund
(PPMF) crossed the floor with a value of $232,670.00.
PPMF’s price rose 1.92 per cent or $0.05 to close at
All indices on the rise
TRINIDAD AND TOBAGO STOCK EXCHANGE TRADING SUMMARY
WEEKLY BULLETIN FOR THE WEEK ENDING OCTOBER 9, 2016
MARKET INDICES AS AT OCT 9, 2016
Weekly% YTD %
All T&T Index
Cross Listed Index
Market Capitalisation 114,388,461,420 1.28
MARKET ACTIVITY FOR WEEK ENDED OCT 9, 2016
DIVIDEND/CAPTIAL DISTRIBUTION PAYMENTS
Security Amount Ex-Div. Date Record Date Payment Date
CALYP 0.11 (I) 14.09.16
AMBL 0.20 (I) 27.09.16
SBTT 0.40 (I) 19.09.16
0.16 (I) 05.10.16
Dividends of cross listed companies are quoted in their national
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