Neal & Massy Takes Joe Issa’ Reputation to the Bank

Neal & Massy Takes Joe Issa’ Reputation to the Bank At all times since the barter system the reputation of a person largely determines the level of comfort of others in dealing with that individual, and it is even more so today, in an increasingly corrupt business environment.

In this context the reputation of Joe Issa as a respected businessman was further boosted with the announcement by Neal & Massy, one of the Caribbean largest corporations with US$600million in annual sales, that it was entering into a partnership with the Issa-led Cool Corporation, the largest indigenous retailer of petroleum products in Jamaica, through its Cool Oasis subsidiary.

Chairman of Neal and Massy Holdings, Arthur Lok Jack, who made the announcement, said they had entered into a joint venture arrangement with Cool Corp Limited for the purpose of purchasing Shell's Retail, LPG and Chemical business in Jamaica and that the joint venture would be named Cool Petroleum Holdings.

Issa, who has been voted one of Jamaica’s most recognisable faces as a philanthropist and advocate against corruption and for accountability in governance, as well for his business ventures and appetite for socialising, had established the Cool Group for just 10 years when the

deal came. At the time the company had over 400 associates and annual sales of US$100 million.

The Cool companies which number over 50 operate in several areas of the economy, including automotive distribution, foreign exchange trading, sign manufacturing tow trucking, automated fuelling systems and electronic calling card, to name some.

“In accordance with the principles and goals of the CSME (CARICOM Single Market and Economy), the Neal and Massy Group is happy to continue investing in the single market,” Neal and Massy CEO Bernard Dulal-Whiteway is quoted to have said in a statement.

He said the acquisition with Issa as the partner “is in keeping with our vision to be a major pan-Caribbean enterprise and aligns us with a creative and entrepreneurial partner in Jamaica, the largest market in the CSME.” According to The Trinidad Guardian which reported the deal, Neal and Massy operates six business units in the areas of automotive and industrial equipment, energy, industrial gases, financial and other services, retail distribution/logistics and information technology and communications.

Issa, who is a Catholic Eucharistic Minister is said to have been proud and humble saying, "...As a Jamaican, I am proud to be part of an increasing ownership in our own country which is an integral part of the CSME."