Corporate Affairs

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    Transnet sees slump in export coal volumes as ‘cyclical not structural’

    State-owned logistics group Transnet reported a 6.5% fall, from 77-million tons to 72-million tons, in export coal volumes in 2018/19, but described the decline as cyclical rather than structural. The group attributed the slump to “operational challenges, derailments, community unrest, train cancellations as well as general low demand in the first quarter”.

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    Transnet sees slump in export coal volumes as ‘cyclical not structural’

    State-owned logistics group Transnet reported a 6.5% fall, from 77-million tons to 72-million tons, in export coal volumes in 2018/19, but described the decline as cyclical rather than structural. The group attributed the slump to “operational challenges, derailments, community unrest, train cancellations as well as general low demand in the first quarter”.

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    Transnet aims to secure settlements on ‘unlawful’ loco contracts by end of financial year

    State-owned logistics company Transnet reported on Monday that settlement talks were under way with all four original-equipment manufacturers (OEMs) supplying it with 1 064 new diesel and electric locomotives under contracts that had since been deemed “irregular and unlawful” by the group. Under a R49-billion procurement programme concluded in 2015, General Electric and China North Rail (CNR) were awarded contracts to supply 233 and 232 diesel locomotives respectively, while China South Rail (CSR) and Bombardier Transportation had been contracted to supply 259 and 240 electricity locomotives respectively.

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    Transnet aims to secure settlements on ‘unlawful’ loco contracts by end of financial year

    State-owned logistics company Transnet reported on Monday that settlement talks were under way with all four original-equipment manufacturers (OEMs) supplying it with 1 064 new diesel and electric locomotives under contracts that had since been deemed “irregular and unlawful” by the group. Under a R49-billion procurement programme concluded in 2015, General Electric and China North Rail (CNR) were awarded contracts to supply 233 and 232 diesel locomotives respectively, while China South Rail (CSR) and Bombardier Transportation had been contracted to supply 259 and 240 electricity locomotives respectively.

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    Transnet reports dramatic rise in irregular expenditure to R49bn

    State-owned freight logistics utility Transnet received yet another qualified audit for its 2018/19 financial year and also announced a dramatic rise in irregular expenditure to R49-billion, after locomotive contracts valued at R41.5-billion where adde…

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    Transnet reports dramatic rise in irregular expenditure to R49bn

    State-owned freight logistics utility Transnet received yet another qualified audit for its 2018/19 financial year and also announced a dramatic rise in irregular expenditure to R49-billion, after locomotive contracts valued at R41.5-billion where adde…

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    Bahrain composites group aiming to use PRASA contract as platform for expansion into other sectors

    Composites multinational BFG International, of Bahrain, has officially opened a R50-million factory in Ekurhuleni, South Africa, to supply fibreglass components for the Passenger Rail Agency of South Africa’s (PRASA’s) new trains. The investment, which is the first-ever by a Bahraini manufacturing enterprise in South Africa, has been pursued in partnership with black-owned financial services company Mergence, which is a 51% shareholder in BFG Africa.

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    Bahrain composites group aiming to use PRASA contract as platform for expansion into other sectors

    Composites multinational BFG International, of Bahrain, has officially opened a R50-million factory in Ekurhuleni, South Africa, to supply fibreglass components for the Passenger Rail Agency of South Africa’s (PRASA’s) new trains. The investment, which is the first-ever by a Bahraini manufacturing enterprise in South Africa, has been pursued in partnership with black-owned financial services company Mergence, which is a 51% shareholder in BFG Africa.

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    SAA board says another shareholder injection needed to see through turnaround plan

    The board at embattled national carrier South African Airways confirmed on Friday that further direct government support would be required to help it over overcome its current liquidity crisis, as well as to enable it to complete the implementation of its long-term turnaround strategy. At a briefing convened following the shock resignation of former CEO Vuyani Jarana –­­ whose damning resignation letter, outlining his frustration at the lack of shareholder support, was leaked to the media last week – the board said the airline had to be “appropriately capitalised”, as its current debt burden was unsustainable.

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    SAA board says another shareholder injection needed to see through turnaround plan

    The board at embattled national carrier South African Airways confirmed on Friday that further direct government support would be required to help it over overcome its current liquidity crisis, as well as to enable it to complete the implementation of its long-term turnaround strategy. At a briefing convened following the shock resignation of former CEO Vuyani Jarana –­­ whose damning resignation letter, outlining his frustration at the lack of shareholder support, was leaked to the media last week – the board said the airline had to be “appropriately capitalised”, as its current debt burden was unsustainable.

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