Veterans take lead

Sep 09 2010 00:00

MICHAEL MARK is R45m richer. The CE of fashion house Truworths International exercised his options on 1,5m shares he was awarded for the two years ended March 2009 as part of the company’s incentive schemes. Exercisable at 791c/share, Truworths shares are currently trading at 5720c/share, giving Mark a book profit of R45m on the R43m he paid for the shares.

Companies & Markets

Waiting hopefully

Sep 09 2010 00:00

MINORITY SHAREHOLDERS – who own the minuscule free float in gaming investment company Real Africa Holdings (RAH) – will have a while longer to wait to see if either of its larger shareholders will buy them out. Majority shareholder Sun International says it has no immediate plan to buy out minorities and reach a deal with significant minority shareholder Grand Parade Investments (GPI) about delisting the company.

Companies & Markets

Deflating time

Sep 09 2010 00:00

IT’S BEEN A rough year for African Oxygen (Afrox). The chemicals group that manufactures and sells industrial, medical and hospitality gases has suffered due to lack-lustre economic activity. However, Afrox has plans to expand aggressively into Africa over the coming year. Opportunities abound, particularly in Angola’s oil industry, where Afrox already has a presence.

Companies & Markets

Pricey ponderings

Sep 09 2010 00:00

AT AN EARNINGS multiple of 21 times, retail conglomerate Massmart is considered the most expensive stock in the retail sector. Understandably, analysts are a tad reluctant to recommend it as a buy. Massmart – a mainly cash retailer of high-volume/low-margin goods – has also bucked the downbeat trend on the JSE, with its share price surging by more than 35% over the past 12 months.

Companies & Markets

Paying school fees

Sep 09 2010 00:00

SOME COMMENTATORS expressed disappointment at private education and resourcing group AdvTech’s interim performance, which reflected a 3% dip in operating profit. In truth, very little market misgiving was reflected in AdvTech’s share price – which, in a way, is a pity, because opportunities to buy this quality stock on the cheap don’t come often.

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Companies & Markets

Still discounting underlying value

Sep 09 2010 00:00

INVESTORS WHO HELD Mvelaphanda Group stock over the past few months, even years, have been handsomely rewarded by the recent unbundling of its Life Healthcare stake through the special purpose vehicle Health Strategic Investments (HSI) and are in line for yet more generous rewards, as the company is still trying to unlock value.

Companies & Markets

Hauling assets

Sep 09 2010 00:00

WHOEVER EVENTUALLY is appointed as CE of logistics company Transnet will hardly have the luxury of steering it off a low base. Remarkably, Transnet continues to improve its performance and to function better despite having an acting CE for the past two years. After raising R20bn from capital markets during financial 2010, it provides a hopeful light in the dimness that can characterise State-owned enterprises. Certainly, other State-owned utilities could learn a thing or two from Transnet on how to plan ahead and rely on their own wits to fund planned infrastructure expenditure.

Companies & Markets

Lacking support

Sep 09 2010 00:00

WITH THE JSE and world markets having sold off sharply over recent weeks, we look at a chart of Anglo American, the JSE’s third largest share (by market capitalisation). It’s ominously testing an important support level. We also look at diversified resources stock African Rainbow Minerals (ARM), which has already broken below important support. The medium-term picture doesn’t look good for both stocks. Anglo is threatening a breakdown while ARM is already on its way to a far lower target.

Surveys

Corporate Profiles

Thuthuka 2010

Flagship Surveys

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Economy Cronin calls for end to BEE targets Malema calls for land 'revolution' Union leaders fail to sell deal	Business Numsa rejects auto industry offer Six nuclear power stations planned Business confidence at annual high	Markets Oil falls on EU bank debt worries Gold miners, resources lift JSE European shares edge higher
Investing Draft code for investors released FSB probes smaller unit trusts The health gap	My Business New PAYE tax process for SMEs Ominous issues loom over firms How to avoid e-filing mistakes	Companies Anglo appoints Gomwe to exececutive committee KWV pours generous dividend Surge in Richemont sales

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Make money from art

Sep 02 2010 12:48

Art's nicer to look at than stock and bond certificates, but can it make you money? Fin24.com spoke to the experts about this alternative investment class. Time: 3:00

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Off the Record, Sept 3 '10

Fin24.com editors' take on the week in business news. Lack of leadership and the strike, JSE black ownership and preview of Finweek’s cover story for discussion today. Time: 19:24

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