Monopoly electricity distributor Jamaica Public Service Company (JPS) has slashed US$21.3 million (J$1.85b) from the value of its land assets.
JPS’ first land revaluation in four years decreased the value of its landholdings and buildings by 28.8 per cent, from US$73.9 million in 2010 to US$52.6 million.
“Please note, as a part of ongoing operations and prudent business practice, JPS has its lands valued every three years. Prior to 2011, the last valuation was done in 2008,” said Winsome Callum, head of corporate communications at JPS, in correspondence with