Stephen Facey Archives

News JAM | Jul 19, 2022

ROK Hotel continues the revitalisation of downtown Kingston

Reading Time: 3 minutesThe old Oceana Hotel on Kings Street in downtown Kingston has been transformed into the elegant and salubrious ROK Hotel. This US$50-million hotel project, led by Stephen Facey’s PanJam Group, continues the revitalisation of the Kingston waterfront with the Ministry of Foreign Affairs, GraceKennedy and Digicel headquartered in splendid edifices there. The ROK Hotel took seven years to come to fruition. The Oceana Hotel was acquired by PanJam back in 2014 after Jamaican businessman Tony Alberga, who had been living in Canada for a long time, invited PanJam to participate in the bidding process. MAURICE FACEY ENVISIONED WATERFRONT AS A…

News JAM | Jul 24, 2022

Don’t keep talking about developing downtown Kingston, just do it!-Stephen Facey

Reading Time: 3 minutesFor years, succeeding administrations and generations of private sector leaders have talked about revitalising downtown Kingston with development projects. That inertia has continued. But there are encouraging signs. Digicel built its world headquarters on the capital’s waterfront, GraceKennedy built a modern corporate home there, and PanJam has opened, on King Street, the ROK Hotel Kingston, Tapestry Collection by Hilton. Speaking at the opening ceremony for the US$50-million ROK Hotel, PanJam Executive Chairman Stephen Facey said: “Kingston is an asset that is impatient for attention. We talk, talk, talk about doing it. We need to do it. At Pan Jam we…

Business JAM | Nov 21, 2022

PanJam and Jamaica Producers merging to become powerful new group

Reading Time: 4 minutesTwo of Jamaica’s biggest conglomerates, Jamaica Producers Group (JPG) and PanJam Investment today announced that they will be merging in an agreement that will see the amalgamation of their businesses to create a powerful new group of companies.

Business JAM | Dec 23, 2022

JP shareholders vote ‘yes’ on amalgamation with PanJam Investment

Reading Time: 4 minutesShareholders in Jamaica Producers Group (JP) Ltd have voted favourably on the recently proposed amalgamation of the material business of JP and PanJam Investment Limited, giving approval to proceed with the business combination. The decision was taken during an extraordinary general meeting hosted by JP on Thursday (December 22) to consider the matter. On completion of the transaction, the combined enterprise will be known as Pan Jamaica Group (PJG). PanJam also held its own shareholders’ meeting on Thursday which resulted in a favourable vote for the amalgamation of the businesses under the Pan Jamaica Group. As part of the transaction,…

Life JAM | May 19, 2023

PHOTOS | Amalgamated Pan Jamaica Group celebrates new beginnings

Reading Time: 3 minutesOn Wednesday (May 17) evening, local conglomerates Jamaica Producers Group Limited (JP) and PanJam Investment Limited (PanJam) joined together at Courtyard by Marriott Hotel to celebrate the commencement of the company that is now the Pan Jamaica Group. Speaking at the cocktail event were Jeffrey Hall, CEO and vice chairman of the Pan Jamaica Group; Stephen Facey, chairman of Pan Jamaica Group; Charles Johnston, chairman of the JP Group; and Joanna Banks, PanJam president, who spoke of the amalgamated company’s bright and promising future. Many of the leaders of the enterprise, in which the Pan Jamaica Group holds interests, were…

Business | May 19, 2023

PanJam fared better in March quarterly performance

Reading Time: 3 minutesDurrant Pate/Contributor PanJam Investment exhibited a much better quarterly performance in March but still ended the period in the red. The investment company recorded a net loss attributable to shareholders of J$11.1 million for the quarter ended March 31, 2023, which is a far cry from the restated March 2022 net loss of J$323.8 million. Loss per stock unit for the quarter was J$0.01, down from the restated 2022 loss of J$0.31. The book value per stock unit amounted to J$39.83 at March 2023, slightly up from the J$37.73 restated at March 2022. The ordinary dividend per stock unit declared/paid…

Life JAM | Jul 24, 2023

Shaggy, Sheryl Lee Ralph and Stephen Facey among seven for honour at Jamaica Independence Gala in New York

Reading Time: < 1 minuteAs Jamaica is set to celebrate its 61st anniversary, seven outstanding Jamaicans who have been making valuable contributions to their respective fields are set to be honoured by the Consulate General of Jamaica in New York at the Jamaica Independence Gala on Saturday, August 19. Jamaican reggae legend Orville Richard Burrell, popularly known as Shaggy, is among the list of awardees to be honoured by the consulate. The Boombastic singer will be joined by other awardees such as renowned American actress Sheryl Lee Ralph, Chairman of Pan Jamaican Group Stephen Facey, CEO of 21st Cent Ed Marlon Lindsay, dermatologist and…

Business JAM | Jun 6, 2024

Pan Jam increases its revenue intake from Euro market to 48 per cent

Reading Time: 3 minutes“If you engage with the Pan Jamaica Group at the level of our revenue line, you’ll note that about 50 per cent of our revenues are in Europe, in the juice business primarily, but quite significantly at the associate company level in the shipping and logistics business, there’s £100 million. “And about half of the revenues are in this part of the world, centred primarily in Jamaica,” declared Pan Jam CEO Jeffery Hall at the company’s Annual General Meeting held at the ROK Hotel in Downtown Kingston today In its segmented results for 2023, 48 per cent of the company’s total…

Business JAM | Jan 3, 2025

Pan Jamaica ditches board succession plan; Facey and Hall remain at the helm

Reading Time: 2 minutesDurrant Pate/Contributor The board of directors of Pan Jamaica Group has confirmed that Stephen Facey and Jeffrey Hall will remain as chairman and vice chairman and CEO, respectively. This update comes as the group previously indicated its intention to name a successor to Hall as CEO and simultaneously to him as executive chairman with effect from January 2025. However, the board has changed that initial plan and is confirming that both the board, Hall and Facey are completely satisfied with the current governance and executive leadership arrangements. Accordingly, the board has elected to defer the planned succession. Hall and Facey…

Business JAM | Jun 7, 2025

Pan Jamaica Group powers through FY2024 with J$6.1 billion in net profits

Reading Time: 3 minutesPan Jamaica Group Limited (PJG) showcased its strong 2024 financial results, underscoring the strength of its diversified business model and disciplined execution across its core segments. At its recently held annual general meeting (AGM) at the ROK Hotel in downtown Kingston, the group reported consolidated net profits of J$6.1 billion, marking a 63 per cent year-over-year increase, with shareholder net profits up 82 per cent to J$4.6 billion. Total revenues surged to J$40 billion, a 38 per cent increase compared to 2023, driven by standout performances in the group’s property and infrastructure, global services, and speciality foods divisions. Earnings before finance costs and taxation climbed to J$8.3 billion, representing a 34 per cent increase over…

Business JAM | Jun 28, 2025

Manor Park reimagined | Pan Jamaica hosts UTech architecture student presentations

Reading Time: 3 minutesRegional conglomerate Pan Jamaica Group recently welcomed first-year Master’s students from the University of Technology (UTech) to present their studio projects, which reimagined the Manor Park area through a forward-thinking, community-driven lens. The session brought together PJG executives, academic mentors and architecture students Sutandy Thompson and Alexander Thomas-Lee in a collaborative exchange that highlighted the powerful intersection of academic theory and real-world development. The Master’s degree student presentations marked the culmination of a year of rigorous academic study, showcasing bold and innovative proposals that addressed key urban planning challenges in the Constant Spring and Manor Park areas, such as traffic…

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