In The News

Economic Growth Council News

The Government of Jamaica has officially launched its Economic Growth Council, which will be chaired by businessman, Michael Lee-Chin. The Council is set up to advise the Government on a framework of proposed initiatives along with sub-initiatives that are expected to yield economic growth.

Please see below for further articles and video:



Other News Articles

Lee Chin gives back to alma mater
Business mogul and chairman of National Commercial Bank (NCB) group Michael Lee Chin, handed an increased cheque amounting to $6 million to assist with the aesthetics at his alma mater Titchfield High School in Portland.
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Portland JSX Huge Success
- Portland JSX Limited Initial Public Offering was oversubscribed by 23.5% making it the largest IPO of ordinary shares ever on the Jamaica Stock Exchange.
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FORMULA FOR SUCCESS
- Michael Lee-Chin featured in Wealth Professional magazine.
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Lee-Chin's equity firm to raise US$10m from JSE listing
- Michael Lee-Chin's Portland Private Equity Fund II intends to list a special-purpose entity called PJX on the Jamaica Stock Exchange (JSE) by April this year
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The Lee-Chin Family Institute for Corporate Responsibility - Rotman School of Management
Speaker: Michael Lee-Chin, President, Portland Holdings Inc.; Chair, NCB Jamaica Limited; Chancellor, Wilfred Laurier University Topic: “The Wealthy Invest Differently – Opportunities Typically Reserved for Affluent and Institutional Investors”
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Michael Lee-Chin Donates $10 million to Burlington Hospital
Michael Lee-Chin Donates $10 million to Burlington Hospital
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DBJ selects three fund managers as venture capital market evolves
The companies are Eppley Limited, a member of the Musson Group; GK Investments, a subsidiary of GraceKennedy; and Portland Equity, an entity ultimately controlled by Michael Lee-Chin.
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The Trident Hotel has won Trip Advisor's Travelers' Choice Awards for the Best Luxury Hotel in the Caribbean

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New York Post review
Red Bull® Article.
Trident Hotel Article

NCB Foundation celebrates $1 billion mark - July 1, 2015
Last Thursday, the NCB Foundation celebrated passing the J$1-billion mark in supporting its areas of remit: education, community and sports development, and youth leadership and entrepreneurship.
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NCB wins Global Banking and Finance Review Awards 2015
National Commercial Bank Jamaica Limited won for:
• Best SME Bank Jamaica 2015
• Best CSR Bank Jamaica 2015
• Best Corporate Governance Bank Jamaica 2015
• Best Banking Group Jamaica 2015

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Portland’s Michael Lee-Chin to win PE bet with $3 bln sale of Columbus - March 23, 2015
Portland Private Equity, a firm led by Canadian billionaire Michael Lee-Chin, expects a big return from its forthcoming sale of Columbus International, reinforcing Lee-Chin’s argument that there are major PE opportunities in the Caribbean region.
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Wallenford deal heads to closure following debt agreement - April 7, 2015
The sale of the Wallenford Coffee Company to AIC International Investments Limited appears headed for closure, pending the execution of documents signalling the Government's agreement to assume responsibility for the coffee operation's debt.
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Investor "swims upstream" - January 13, 2015
His Burlington-based Portland Holdings owns plenty of big-ticket items — including resorts, TV stations, a bank and numerous financial services providers. He says he loves the challenges of working in what he calls the world’s most dynamic industry — investing — but loves the generosity that money affords him even more.
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Michael Lee-Chin and Family Donate $10M in support of Joseph Brant Hospital - September 12, 2014
Today, Joseph Brant Hospital Foundation announced Michael Lee-Chin and family’s historic $10 million dollar donation at its 14th annual Crystal Ball Gala. The donation is the largest ever made in the City of Burlington and the largest made to the Joseph Brant Hospital. This gift brings the total raised for Joseph Brant Hospital Foundation’s Our New Era campaign to $37M – more than 60% of campaign goal.
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Jamaica 50: Two Worlds, One Love - August 12, 2012
Michael Lee-Chin is featured with other luminaries in this CBC documentary celebrating Jamaica's 50 years of independence.
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NCB named among top performing banks - August 7, 2011
LESS than a decade after Michael Lee-Chin took control of National Commercial Bank (NCB), it has gained recognition as being among the world's best in return on assets and return on capital.
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Trident Hotel, Port Antonio, Jamaica - April 2013
It is something new for Jamaica – it updates the mannered elegance of the traditional hotels on the island into a modern tropical luxury.
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Michael Lee-Chin: Do well. Do good. Be happy - October 11, 2011
Michael is Lee-Chin profiled on Canadian Business. Michael Lee-Chin’s entrepreneurial ascendance is a particularly Canadian version of the classic rags-to-riches tale.
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Michael Lee-Chin moves up on Canadian rich list - October 7, 2011
From the Canadian Business magazine.
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Hamilton’s richest men got richer last year. - October 7, 2011
At the top of the local wealth pyramid is investment guru Michael Lee-Chin of Burlington. He’s worth an estimated $1.7 billion, up almost six per cent or just over $100 million from last year’s list. That’s enough to place him in the 33rd position, one spot ahead of his 2010 ranking.
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University chancellors making us proud in Canada - Michael Lee Chin appointed Chancellor of Canada's Wilfred Laurier University - October 7, 2011
Speaking on Lee Chin's appointment, Wilfred Laurier University's president and vice-chancellor Max Blouw said: "Michael Lee Chin epitomises Laurier's institutional proposition of inspiring lives of leadership and purpose. His internationally recognised achievements in the business and investment arenas are matched by his astonishing record of philanthropic work. He is an ideal choice for this key role as the university celebrates its centennial and lays the groundwork for a bold and influential second century."
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Michael Lee-Chin and Lennox Lewis - October 7, 2011
WILFRID Laurier University will grant world-renowned boxing champion Lennox Lewis an honorary doctor of laws degree at the university's fall convocation October 28. The university will also hold an installation ceremony at the convocation for incoming Chancellor Michael Lee-Chin, at which outgoing Chancellor John Pollock will ceremonially hand the chancellor's robes to his successor.
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Michael Lee-Chin appointed chancellor of Wilfrid Laurier University Communications, Public Affairs & Marketing - September 23, 2011
Renowned businessman, investor and philanthropist Michael Lee-Chin has been appointed chancellor of Wilfrid Laurier University. The appointment has been unanimously approved by Laurier’s Board of Governors, with the unanimous support of the Senate, and will take effect Oct. 28, 2011 at an official installation ceremony at the university’s fall convocation. Lee-Chin succeeds John A. Pollock, who has served as Laurier’s chancellor since March 31, 2008.
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Haiti's The Presidential Advisory Council on Economic Growth and Investment - September 23, 2011
Michael Lee-Chin elected as member of the board.
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NCB named among top performing banks in the world - August 7, 2011
LESS than a decade after Michael Lee-Chin took control of National Commercial Bank (NCB), it has gained recognition as being among the world's best in return on assets and return on capital.
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NCB Capital buys 29% of JMMB - August 7, 2011
NCB Capital Markets Limited (NCBCM) has bought a 29 per cent stake in Jamaica Money Market Brokers Limited, making it the 'single largest' owner of its rival. The 482,777,325 share transaction was reported after market close on Friday, initially by the Trinidad and Tobago Stock Exchange, where JMMB and NCB Capital's parent, National Commercial Bank of Jamaica (NCB), are both listed.
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Jamaicans in Canada plan Independence pilgrimage for 2012 - July 13, 2011
THE GRAND Jamaica Homecoming - a Canadian movement that encourages, inspires and informs Jamaicans, friends of Jamaica and those who wish to visit Jamaica, to "come home" is to celebrate Jamaica's 50 years of independence next year. The homecoming is to be held under the patronage of Jamaican Canadian philanthropists and business titans Michael Lee Chin and G. Raymond Chang.
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Dolce Magazine Cover Story: Michael Lee-Chin - July 4, 2011
This philanthropic businessman has a billion reasons to keep his chin up. How the kid from Port Antonio, Jamaica became the king of Portland Holdings
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Michael Lee-Chin Youth Leadership Series launched - March 29, 2011
The Michael Lee-Chin Youth Leadership Series was inspired by Lee-Chin's love for Jamaica and his passion for youth empowerment through education. The programme, which is expected to be staged on a quarterly basis, will also give an opportunity for other local and international luminaries to share their experiences with young Jamaicans across the island.
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Spread yourself too thin and suffer the consequences. - March 3, 2011
That's the essence of the advice from Jamaican-Canadian billionaire Michael Lee-Chin, who has dismissed the premise long held by investment gurus that the key to wealth creation is the wide diversification of assets.
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How to acquire wealth - March 3, 2011
Be unconventional but rational. This was the view put forward by Michael Lee-Chin, a Jamaican born Canadian based investor, to the audience at the February luncheon seminar of the Barbados International Business Association (BIBA) at Hilton, Barbados.
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Michael Lee-Chin - March 3, 2011
At the Barbados International Business Association (BIBA), Mr. Lee-Chin describes the business of democratizing formerly inaccessible opportunities in order to make it possible for every investor to build a portfolio no different from the wealthy.
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Michael Lee-Chin featured on poster created for Black History Month - February 28, 2011
Two Jamaicans are among five persons featured on this year’s official Legacy Poster created annually for Black History Month by Canadian artist, Robert Small, which highlights the contributions and achievements of African-Canadians.
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CVM secures local Olympics rights from IMC - February 23, 2011
Michael Lee-Chin, CVM TV's chief shareholder and chairman of the parent company Portland Holdings, promised that the network will go out of its way to ensure that the best coverage is presented to the Jamaican audience.
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Patrick Hylton, Managing Director of NCB - February 4, 2011
Caribbean Business Report's Personality of the Year 2010. Last year was a watershed year for NCB, one that saw it overtake BNS as the country's most profitable bank. Lee Chin was proven correct, but it was the acumen and management ability of NCB's managing director Patrick Hylton that made it possible.
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NCB Surpasses Scotia - November 26, 2010
Scotia Group Jamaica, for years considered Jamaica's leading banking institution came an albeit, close second to Michael Lee-Chin's NCB Group this year, posting a net income of J$10.7 billion for the year ended October 31, 2010. This year NCB registered a net profit of J$11.1 billion.
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Michael Lee Chin: setting new heights for investors - November 14, 2010
With the backing of his Can$15-billion fund management empire, called AIC, an estimated US$2 billion in personal net worth, plus an irrevocable claim to Jamaican heritage, Lee Chin must have cast an imperious and intimidating shadow over the negotiating table for an asset that the government was anxious to return to private hands.
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Lesson on persevering in times of adversity - November 4, 2010
A global economic recession, unpredictable weather-related disasters and a tightening global regulatory regime are some of the adversities being faced by the corporate Caribbean. So an impassioned and personalised presentation by self-made Jamaican billionaire Michael Lee Chin on “How to Persevere in Times of Adversity”, at the recently concluded International Business Week 2010 Conference at the Hilton Barbados came at the right time for many.
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The 40 most powerful African Americans in business-and how they shaped our world. - August 9, 2010
Ranked #8 amongst the 40 men and women considered the most powerful trailblazers. They are, however, more than pioneers who withstood the elements—institutional racism, resistance from the business establishment, and lack of resources—to plant a flag on their own patch of territory. They’re titans: bold leaders who shattered conventional modes of commerce. Because of their contributions over the past 40 years, the world of business has been transformed forever.
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The resurgence of Michael Lee Chin - Part 2, April 30, 2010
"AIC mutual fund boss and chairman of NCB Michael Lee Chin has remained steadfast in adhering to his business mantra "Buy, Hold and Prosper", and it has paid off big time for him. Last week, Caribbean Business Report brought attention to the fact that the AIC Advantage Fund is up 70 per cent from March 2009 and a number of businesses in its portfolio are putting in creditable performances -- the big man appears to have turned a corner and is proving the naysayers wrong." The Jamaica Observer
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Michael Lee-Chin named to new tourism task force, April 27, 2010
"A special task force - whose work will be co-funded from private and public sources - to determine the aggregate demand for goods and services in the tourist industry has been created by Government. State news agency, JIS, reports that the task force includes a mix of public and private-sector representatives such as billionaire investor Michael Lee-Chin; group chief operating officer at GraceKennedy, Don Wehby; Derrick Deslandes, a consultant in the Ministry of Agriculture; president of the Jamaica Manufacturers' Association, Omar Azan; general manager of Jamaica National Building Society Earl Jarrett; head of the Statistical Institute of Jamaica, Dr Sonia Jackson; president of the Jamaica Hotel and Tourist Association Wayne Cummings. " The Jamaica Gleaner
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The resurgence of Michael Lee Chin - Part 1, April 26, 2010
"For the last few years billionaire mutual fund boss Michael Lee Chin has taken some major hits with many speculating whether he was due to hit the canvas. His mantra of ‘buy, hold and prosper’ no longer had any relevance, the pundits said. Like Muhammad Ali in his classic fight with George Foreman in Zaire, he has proved the Doubting Thomases wrong and has staged a remarkable recovery." The Jamaica Observer
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Michael Lee-Chin on the Comeback, April 2010
The Financial Post discusses how Michael Lee-Chin's commitment enables his continued success.
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Investing Lessons From a Billionaire, March 2010
A feature article in Black Enterprise Magazine about "Mega-investor" Michael Lee-Chin's unique philosophy.
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Wealth management a winning bet: Lee-Chin, January 20, 2009
In a candid interview he explains that in many ways he's happy to be focused on one of his true passions in life — investing.
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NCB wins Banker of the Year Award 2009, December 7, 2009
National Commercial Bank Jamaica Ltd. (NCB) was awarded the Bank of the Year 2009 from the highly prestigious Banker Awards.
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London Free Press Interview with Michael Lee-Chin, London Free Press, December 2, 2009
Michael Lee-Chin discusses savvy investing in India.
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Forbes Interview with Michael Lee-Chin, Forbes, November 2, 2009
Michael Lee-Chin talks to Forbes about the U.S. dollar, Warren Buffett and investing for the long haul.
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It won’t always look pretty, but resolve can pay off, The Globe and Mail, September 11, 2009
Profiting from any investment approach means that you have to be prepared to stick to your guns and look stupid while the market goes against you.
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Michael Lee-Chin’s ‘bittersweet’ day, The Globe and Mail, August 13, 2009
As the market meltdown clobbered AIC, the billionaire fund manager began quietly shopping the company around more than a year ago. Yesterday, he found a buyer in Manulife.
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Employing business strategies during turbulent times - Lee-Chin,
Jamaica Observer, August 7, 2009
Chairman of both Canadian mutual fund company AIC and Jamaican bank NCB Michael Lee-Chin continues to outline his business strategy and point out that this current global financial crisis is replete with opportunities.
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Economist: Business Tips, Crystal Clear, torontoist.com, May 7, 2009
Michael Lee-Chin shared business advice with a group of 70 recent graduates at a Lunch & Learn series held by the Young Patrons Circle at the ROM.
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Michael Lee-Chin to be awarded the Order of Jamaica, Jamaica Observer, August 6, 2008
Jamaica has also awarded its fourth highest national honour - the Order of Jamaica - to six of its outstanding citizens, as the nation marks its 46th year of political Independence. [One of the six recipients is] Michael Anthony Lee-Chin, for outstanding service in business and philanthropy.
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Ask the Legends – Michael Lee-Chin, Profit, March 2008
The mutual-fund maverick and billionaire philanthropist shares his insights into business management and building wealth.
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His future remains crystal clear, National Post, December 24, 2007
Born in Port Antonio, Jamaica, in 1951, the oldest of nine children, the entrepreneur operates his businesses by a simple philosophy: Prosperitas cum caritate (Do well, but also do good). Mary Teresa Bitti spoke with Mr. Lee-Chin about philanthropy.
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The Rich 100, 2007-08, Canadian Business, November 30, 2007
One day in august 2005, Michael Lee-Chin stopped and thought about the enormous amount his then three-year-old twin daughters had learned in the previous six months. and then came the question: “Mike, how much have you learned in the last six months?” in that moment, Lee-Chin decided to take on a subject he had no prior knowledge of — no experience in — and master it with the trademark discipline he applies to his investment strategies.
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Michael Lee-Chin: Mogul on a mission, AMÖI Magazine, Spring/Summer 2007
"Michael Lee-Chin has yet another goal: to revitalize the way Jamaica does business. If he has his way, he will help change the shape and reputation of the island. With ongoing plans to reduce crime, improve education and renovate hotels, Lee-Chin is intent on returning his homeland to the paradise it once was."
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