State Enterprises Investment Programme 2012

The State Enterprise Sector is comprised of fifty-four (54) companies, of which forty-three (43) are wholly owned, seven (7) majority owned and four (4) in which Government has a minority shareholding.

This differs from the 2010 composition as three (3) wholly owned namely Colonial Life Insurance Company (2009) Limited, Rum Distillers of Trinidad and Tobago Limited and Sugar Manufacturing Company Limited and one (1) minority-owned Caribbean Food Corporation were reclassified as non-operational while Caribbean Airlines Limited, a wholly owned was reclassified as a majority owned due to the Government of Jamaica acquiring a 16% shareholding.

These enterprises are involved in the gas and oil industry, infrastructure development, banking and financial services, manufacturing, transport and communication, training and the provision of social services.

In the financial year 2010, the Government’s equity holding in these enterprises totalled $7,745.8 million, and a total net profit of $3,465.2 million was realised. The Sector also contributes to the economy through foreign exchange earnings, employment, dividend payments and taxes.

Source: Ministry of Finance

Date Published: 2011