C.I.C. N.V.

What it is

CIC was formally established on 25 November 1967 by 150 shareholders as a producer of washing powder under the brand name Witboi. Over the following decades it broadened steadily into liquid detergents, disinfectants, and plastic packaging, and today it is the dominant Surinamese manufacturer in its category.

Products span fabric softeners, dishwashing liquids, bleach, cleaning cloths, toilet bowl cleaners, disinfectants, glass cleaners, and plastic packaging materials. They are sold under the brands Ozon, Klinol, Sun, and Gaia.

CIC produces cleaning products and plastic packaging under brands including Ozon and Sun, and exports to 14 countries. The company holds ISO 9001 (quality) and ISO 14001 (environmental management) certifications, awarded in 2006 and 2013 respectively.

Who owns it

VSH United (N.V. Verenigde Surinaamse Holdingmij), one of Suriname’s largest diversified holding companies, controls 63.36% of CIC’s shares.

The remaining roughly 36.6% is the free float traded on the Suriname Stock Exchange (our calculation from the 63.36% majority stake).

The Suriname Stock Exchange is organised by the Vereniging voor de Effectenhandel in Suriname (VvES), founded on 1 January 1994; trading does not happen daily but twice a month, on the first and third Thursday. That thin trading rhythm means CIC shares are illiquid by any international standard — a fact investors must weigh carefully.

Who runs it

CIC’s Supervisory Board — the body that oversees management — includes M. Merhai, M.A.

Ramsundersingh, D. Jong A Lock, P.

Healy, O. Smith, and E.

Woei A Tjoen. Day-to-day, the company is led by two co-Managing Directors.

Ratna Khedoe, Managing Director, brings nearly 15 years of internal experience across multiple departments; Kathleen Healy, co-Managing Director, has more than a decade in the fast-moving consumer goods industry; and Maikel Macintosh serves as Deputy Managing Director for Operations. T.

Esajas is Financial Controller. Kathleen Healy has served as Managing Director of CIC since at least 2017, giving the leadership team notable institutional depth.

The money, in plain words

Not published: CIC does not release standalone audited financial statements (revenue, net profit, total assets) on its own website (cicsur.com), nor does the Suriname Stock Exchange publish individual company financials on its public bulletins page (surinamestockexchange.com/index.php/bulletins). The VSH United 2024 Annual Report — the primary vehicle through which CIC segment data would be disclosed — was retrieved as a PDF from vshunited.com but could not be parsed by the tool used.

The SSX operates under the 2014 Wet Kapitaalmarkt (Capital Market Law), which requires listed companies to submit audited financial statements to the exchange; however, these are not posted in a publicly searchable online registry as of the date of this profile. Investors who require CIC’s standalone revenue, net profit, and balance-sheet data should request the annual report directly from CIC’s registered office (Industrieweg Zuid BR24, Paramaribo) or from VSH United’s investor-relations desk at [email protected].

What it is doing now

In 2022 CIC opened a new liquid-products production line, launched its direct sales unit CIC Business, started exporting to Belize, and introduced the Supro Extreme heavy-duty industrial degreaser brand. These moves signal a deliberate push to lift both volume and the value of what it sells — industrial cleaning commands higher margins than basic consumer detergent.

On the cost side, investment in renewable energy projects has cut electricity consumption by 5% annually, reduced potable water use by about 900 cubic metres, and lowered fossil-fuel use by 14%. For a factory running continuous production lines, those savings compound meaningfully over time.

What to watch

• Financial disclosure. CIC’s standalone audited accounts are not publicly accessible online. Any improvement in the SSX’s digital disclosure framework — or VSH United’s decision to publish segment-level revenue — would be a material change for minority shareholders.
• Exchange-rate risk. The Surinamese dollar (SRD) has experienced sharp inflation and currency volatility since 2020. A manufacturer that imports raw materials in hard currency but sells locally in SRD carries real purchasing-power risk on its costs.
• Regional export growth. CIC exports to 14 countries and is investing in expansion. Watch for new destination announcements; each adds revenue that is naturally dollar-denominated and hedges the SRD exposure.
• Ownership concentration. With VSH United holding 63.36%, minority shareholders have limited ability to influence strategic decisions. Any change at the VSH United holding-company level flows directly into CIC’s ownership structure.
• Liquidity. One of the most significant challenges for the SSX is its low liquidity; trading volumes are relatively small and activity is often dominated by a few large players. Buyers or sellers of CIC stock may find it difficult to transact at a fair price.

This is news, not investment advice.