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Industry News

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Basil Read shares rise as it successfully completes rights offer

JSE-listed construction company Basil Read’s shares on Monday rose 4.17%, after reporting that its rights offer, aimed at raising R300-million, received full support. The company issued 1.36-billion shares at 22c apiece – a discount to the 65c apiece closing share price on January 26. Powered by WPeMatico

Green shoots seen in construction industry, despite tight conditions

The South African construction sector is still facing “very tough and difficult” conditions, with the 2.5% inflation rate creating an even tighter environment, Econometrix chief economist Dr Azar Jamine said on Friday. Speaking to industry representatives during an Afrisam-hosted post-Budget briefing, he said this cast a negative shadow over employment, as the construction industry created […]

Accéntuate aims for recovery as political power changes hands

Flooring, water and chemicals specialist Accéntuate experienced a tough six months to December 31, 2017, with the company moving from a R3.5-million profit in the same period in 2016, to a loss of R1.78-million. Accéntuate said on Friday that its business had suffered on the back of depressed macroeconomic conditions, political uncertainty and a lack […]

Jabu Moleketi nominated as PPC chairperson

South African cement producer PPC said Jabu Moleketi has been nominated for the position of chairman of the board to succeed its current chairman Peter Nelson, as it aims to align the board with its strategic priorities. Moleketi is currently chairman of mobile phone network operator Vodacom Group and has served on numerous boards such […]

Nuclear industry group cautions against ‘rushed decisions’ on energy

The Nuclear Industry Association of South Africa (Niasa) has urged the government and energy sector to have a broad perspective in their energy planning and include nuclear in a balanced energy mix. The government should not be distracted by the fact that the country currently had an oversupply of electricity, as planning was concerned with […]

Hyprop subsidiary acquires 90% interest in two Croatian shopping centres

Hystead, a UK company co-owned by Hyprop Investments and PDI Investment Holdings (PDI) has acquired a 90% interest in two Croatian shopping centres from WKB 3 for €129.1-million. When completed, Hystead will own six shopping centres in five countries, with a gross asset value exceeding €740-million. Powered by WPeMatico