Sun International: building up a hand – Fin Mail
Sun International’s likely abandoning of the Peermont Global acquisition and the transfer of an existing casino licence to the vibrant Menlyn Maine have lately overshadowed the gaming giant’s efforts to build a niche in Latin America. Dirk van Vlaanderen comments. view article
Anglo in dramatic portfolio shake-up – IOL
Diversified mining giant Anglo American has announced a dramatic shake-up of its portfolio after envisioning the disposal of $6 billion (R94.76 billion) of non-core assets by the end of the year and the unbundling of Kumba Iron Ore in 2017. Abdul Davids comments view article
ARM forks out to keep B-BBEE status – Business Day
Rainbow Minerals (ARM), in which mining entrepreneur Patrice Motsepe is the biggest shareholder, is putting a R1.9 billion bail-out in place to preserve its broad-based black economic empowerment (B-BBEE) status as volatile markets have rocked its share price. Over the course of last year ARM’s share price fell from about R119 to R40, although it […]
Sanlam's results see share fall 6% – BDlive
Sanlam said it had R2.3 billion in discretionary capital to invest in growth initiatives, and had an opportunity to raise more capital if there was a need. CEO Ian Kirk said the insurer had not raised capital for some time and the company had explored some options on how it would raise capital, if needed. Justin […]
Anglo Platinum: mixed responses – Financial Mail
Without the burden of one-off restructuring costs and write-downs, Anglo American Platinum’s headline earnings would have increased by about 37% for the past year to December, when compared with 2014. Including the costs of adapting to a weak platinum price, its headline earnings will instead drop by about 90%. The comparison with 2014 looks good only […]
Nene sacking an ironic fillip for SA's gold sector – Business Day
Jacob Zuma is causing turmoil in financial markets and unwittingly throwing a lifeline to his country’s struggling gold industry. Mr Zuma’s decision to fire respected finance minister Nhlanhla Nene drove the rand to a record low, instantly reducing labour and other costs in the local currency for mining companies, relative to the US dollars they […]
Barclays Africa expansion plans intact – BDlive
Barclays Africa on Tuesday said it would not be deterred from expansion on the rest of the continent despite its parents’ shareholding in the African operation falling to about 20% in two to three years. Jihad Jhaveri comments. view article
R94 billion bilateral deals crown state visits – Business Report
The signing of 26 agreements worth R94 billion by the Chinese and SA governments on Wednesday present an opportunity for the skewed trade relations and perceptions between the two countries to be addressed. The trade balance favours China as more than 90 percent of SA’s top 10 exports to China are in raw materials, while […]
Astral makes hay while the sun shines – Moneyweb
Investors who bought into Astral Foods on the back of a superb trading update in early November will have made an 11% loss as the share fell from R171.50 at the time, to R152 by the time the company reported its results on Monday. While Astral and peers like Sovereign Foods and RCL Foods have all […]
Daybrook in US a prime catch for Oceana – Business Day
Fishing group Oceana, which has consumer brands giant Tiger Brands and empowerment group Brimstone as anchor shareholders, netted an encouraging first-profit catch from its recent acquisition in the US. Oceana’s year to end-September results released yesterday showed fishmeal and fish oil specialist Daybrook Fisheries chipped in revenues of R574 million and operating profit of R180 […]