Management Of Business Internal Assessment

Candidate Name: Renea Malcolm & Jhenae Campbell

Candidate Numbers: 1000700230 &

School/Centre: Marymount High

Centre Number: 100070

Subject: Management Of Business

Territory: Jamaica

Teacher: Miss. Clarke

Year of Examination: 2024

Topic: Why did Jamica Public Service (JPS) become a privatized company.
 Table Of Contents

Acknowledgement……………………………………………………………………..…3

Introduction………………………......…………………………………………………...4

Literature review…………………………………………………………………………5

Methodology………………………………………………………………………………6

Results and Findings…………………………………………………………...…………7

Analysis and Discussion…………………………………………………………………..8

Conclusion and recommendations.………………………………………………………9

References and Bibliography…………………………………………………………….10

 Acknowledgement

Completing this Internal Assessment (IA) Gave me a sense of fulfilment and I want to thank

the following person for their contribute. Firstly, I would like to thank God for giving me the

patient and strength that was needed to complete this assessment. Also, I would like to thank

my teacher for helping us to meet the expectation of this assignment. Finally, I would like to

thank my family and friend for their moral support and encouraging me to finish this

assessment.
 Introduction

According to the JPS website, “Jamaica Public Service Company Limited (JPS)is an integrated

electric utility company and the sole distributor of electricity in Jamaica. The Company is

engaged in the generation, transmission, and distribution of electricity, and purchases

power from a number of Independent Power Producers (IPPs).Marubeni Corporation of

Japan and Korea East-West Power (EWP) jointly own 80% shares in the Jamaica Public

Service Company Ltd (JPS). The Government of Jamaica and a small group of minority

shareholders own the remaining shares.More than 1,600 JPS team members provide service

to over 680,000 customers each day”. (jpsco.com)

In this internal assessment the researcher will be focusing on finding out why did JPS

become a privatized company.

 Aims and Objectives

To help with the investigation of this research, the researcher has come up with various

aims and objective.

The aim of the research are as follows:

 Evaluate why they became a privatized company.

 To find out what they were before privatization.

 To identify the causes of becoming a privatized company.

 Outline the benefits of being a privatized company.

 Background

The research on whyJamica Public ServiceLtd (JPS) become a privatized company.Was

researched by pervious websites sources:

https://www.scribd.com/document/680716390/Vol-3 .https://www.linkedin.com/company/

jamaica-public-service-company-ltd

In an article published by https://www.scribd.com/document/680716390/Vol-3. Stated that

electricity was introduce in Jamaica in 1892, thirteen years after Thomas Edison invented

the first successful lamp. The company began to supply electricity from small coal-burning

stem generating plant on Gold Street in Kingston.

The other article published by https://www.linkedin.com/company/jamaica-public-service-

company-ltd state that Jamaica Public Service Limited (JPS) is an integrated electric utility

company which engages in the generation, transmission and distribution of electricity in

Jamaica, and also purchases power from five independent power producers.Which majority

of the shares were sold for joint ownership, JPS is a key partner in national development.

The company owns and operates: 4 power stations, 9 hydroelectric plants, 43 substations

and approximately 14,000 kilometers of distribution and transmission lines.

This topic is important because it can help show more insight and acquire knowledge and

put out to the society and educate us in positive way.

 Literature review

In Jamaica today JPS is one of our primary sources ofelectricity in which has

help Jamaica to grow by providing energy and technical expertiseto business and residential

communities.

The Jamaica Public Serviceis an integrated electric utility company at 6 Knutsford

Boulevard Kingston 5 Jamaica. Jamaica Public Service can be describing as sole

distributor of electricity for the island of Jamaicaand was the first in the world to have

electricity. Which dates to the late 1800s whereas the journey began from just a small coal-

burning steam, where at the time many large British cities were still without electricity.

After Thirty-one years, on May 25,1923 JPS came into begin a legal entity which they

provide service to 3,928 customers at that time numbers of small suppliers had been

providing electricity. https://www.jps.com/our-story

According to Business View Caribbean during JPS long history of providing electricity to

customer they have seen many changes in its ownership and the extent its assets. In 1945

through a series of mergers, buy-outs, and amalgamations of other electric companies on

the island, in coming years finally JPS was granted All-Island Electricity License by the

Jamaican government in 1966. Four years after the government took over formerly

privately-owned companies andcontrolled interest in it. JPS continued to be publicly

owned up until 2001, when Mirant Corporation bought up to 80% of the company’s

operating shares, leaving the government with 19% and 1% minority remain for the

shareholders. 2007 wholly owned subsidiaryof Marubeni Corporation of Japan purchased

Mirant’s majority share and in 2011 Korae East West power entered into agreement with

Marubeni for joint ownership of the company.Even up to toady JPS provides services for
more than 603,350 residential and business customers. Which the president and Chief

Executive Officer of JPS Kelly Tomblin explains that they are not the only generator on the

island, in which it’s very competitive generation market, in what they do privately-owned

companies on the island have to partner with JPS to sell it to their customers.
 Methodology

The researcher investigated on why JPS became a privatized company. Throughout this

entire research both primary and secondary sources were used such as questionnaires, while

secondary sources include the internet.Questionnaires were use as a primary means to

collect information which consist of open and close-ended questions which were given to

respondents to answer. The research was conducted using quantitative resources to

illustrate information.