Business

CAC aids cooling of BPO sector

Wednesday, January 17, 2018

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Listed company, CAC 2000 Limited (CAC), has signed a deal with the Port Authority of Jamaica (PAJ) to act as financier for air-conditioning installation and maintenance services to the local Business Process Outsourcing (BPO) sector.

Last week the Jamaica Observer reported that PAJ will rent the air-conditioning equipment from CAC and also pay CAC to provide full maintenance of the equipment. The maintenance preserves the value of the equipment during its lifetime and the Port Authority will be insulated from the uncertainty of maintenance issues for the equipment.

The deal, worth $200 million, will be split over two phases. Phase I, which was completed in October, saw CAC installing air conditioners in a number of BPO offices owned by the PAJ around Portmore and Montego Bay.

“CAC has been an active and strong competitor in the BPO market space. The rental deal with the Port Authority creates new ways for the Government of Jamaica to execute BPO projects without going to the marketplace for financing,” explained Colin Roberts, chief technical officer and director at CAC.

The partnership will facilitate entities such as BPO organisations, hotels and others in obtaining financing to execute infrastructural works such as air conditioning, generators, energy retrofits and energy conservation opportunities. Additionally, it will include maintenance components for the preservation of the equipment at optimal performance levels during its entire lifecycle.

“It facilitates the speedy execution of air-conditioning system installation and upgrades as well as creates new frameworks for structure maintenance of the systems, to ensure that such systems are properly and adequately cared for during its entire lifetime,” Roberts added.

CAC is also working to establish a minimum of two additional BPO deals in the 2018 fiscal year with a view to adding two contracts for services with large retail establishments, the usual mix of new and replacement services for small, medium and large businesses.

CAC, for its year ending October 2017 made record profits of $100.7 million or a whopping 862 per cent more than the $10.5 million earned in the previous year. The company, based on Marcus Garvey Drive in Kingston, is incorporated in Jamaica. The ordinary shares of CAC were listed on the Jamaica Stock Exchange's Junior Market in January 2016 and trades are reported using the symbol 'CAC'.

Total assets grew to $985.2 million from $851.7 million year over year due primarily to the growth in trade and other receivables to $536.3 million when compared with $356.7 million in 2016. Total shareholder equity also grew to $423.2 million from $322.4 million in 2016.

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