N.V. Verenigde Surinaamse Holdingmij (VSH United)

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What it is

The VSH United Group of Companies was established on 26 August 1958 and has grown to one of the most diversified groups in Suriname. The group’s principal segments are Logistics, Trading, Manufacturing, Real Estate and Services.

Through associated companies, VSH United is also involved in the insurance and hotel business, and operates in four countries: Suriname (headquarters), Guyana, the United States of America and the Netherlands. The headquarters in Paramaribo provide the strategy, financial and administrative services and act as legal and human resource counsel for all 22 subsidiaries, which are independent operating companies.

It all started in 1958, when discussions took place between L.E. Tjin A Djie and James J.

Healy, and at a later stage with A.W. Brakke and A.

Hedges Abrahams, to establish an import- and export company in Suriname. The company is listed on the Suriname Stock Exchange.

Who owns it

Ownership of VSH United’s shares by individual or family blocks is not disclosed in available public sources; the company operates registered shares since a 2015 bylaw change. VSH United itself holds a majority share of 63.36% in its subsidiary N.V.

Consolidated Industries Corporation (CIC). The free float is traded on the Suriname Stock Exchange, where trading happens twice a month, on the first and third Thursday.

The SSX broad index rose from 21,720 at end-2023 to 98,733 by end-2024 — a 355% gain — with VSH United’s share price among the contributors to that rise. As of 22 June 2026, VSH United’s shares were quoted at SRD 2,800 (~USD 2,800).

Who runs it

Kathleen M. Healy is CEO of N.V.

VSH United Suriname Holding Company. The holding is managed by a Management Team consisting of a CEO, a CLO (Chief Legal Officer), and a CFO.

M. Ramsundersingh serves as CLO and P.

Brahim as CFO, roles both confirmed in the company’s published annual reports and About page.

Diana R. Halfhide sits on the Supervisory Board — confirmed across multiple annual reports as Chairperson — and oversees management on behalf of shareholders.

The company adopted a Corporate Governance Code in January 2010, setting a framework that clearly defines the responsibility and authority of the supervisory and executive functions.

The money, in plain words

VSH United’s full financial statements for 2024 are published in an annual report on the company’s website, but the PDF could not be parsed by available tools, and no audited revenue or profit figures for recent years were accessible from any primary source during this research. All financial metrics — revenue, net profit, net margin, return on equity, and the price-to-earnings ratio — are therefore listed as not disclosed in available sources.

What is clear from the Suriname Stock Exchange’s own 2024 annual review is that 2024 was a strong year, with VSH United among the listed companies cited for good results alongside Assuria, the brewery, Hakrinbank, CIC, DSB, VSH Foods and Self Reliance. Any investor seeking audited figures should consult the 2024 Annual Report directly at vshunited.com.

What it is doing now

In 2024, after 24 years, the ERP replacement project was successfully initiated and implemented across all Suriname wholly owned subsidiaries; ODOO officially went live on 1 January 2025. This is a significant operational shift: replacing a 24-year-old back-office system across a multi-segment, multi-country group in one go is the kind of project that either unifies or strains an organization.

In May 2023 the billboard was unveiled to mark the start of construction of the VSH Commercial Complex (VCC) at Houston Estate, Georgetown, Guyana. VSH United recently expanded its activities in Guyana with the construction of the VSH Commercial Complex in Georgetown.

Guyana’s oil boom makes this the group’s most strategically important bet of the decade.

What to watch

• Financial transparency. The company publishes annual reports, but audited figures are not easily accessible through third-party channels. Investors who want revenue, profit margin, or equity returns need to go directly to the VSH investor-relations page — or wait for the Suriname Stock Exchange’s published disclosures.
• Guyana exposure. The Guyana Commercial Complex is the clearest signal that VSH United is backing Guyana’s oil-driven growth cycle. If that cycle continues, the logistics and real-estate arms could deliver outsized gains; if it stalls, so does this bet.
• Currency risk. The SSX broad index gained 355% in 2024 against inflation of 10.1% — meaning that in real terms, the rally was still very large. But Suriname’s Surinamese dollar (SRD) has a history of sharp devaluations; any foreign investor holding VSH United shares bears that currency risk directly.
• Leadership continuity. The Healy family name runs through VSH United’s history from its 1958 founding to the current CEO. The governance code and supervisory board structure are designed to professionalise succession, but the family-era culture is still part of the story.
• ERP integration. The group-wide ODOO rollout that went live 1 January 2025 will either sharpen financial reporting — making it easier for investors to track margins by segment — or create short-term disruption. The first full-year results under the new system are the one to watch.

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This is news, not investment advice.