I think they are renting their premises at R27mil per month.
I had a discovery card and when i cancelled it took trench warfare to get them to eventually let me go free.
All this is done by Pravin Gupta so the political ANC elite an families can fly around in comfort while the poor keep voting for them.
So I guess that’s ok then?? The poorest of the poor says its ok.
Hopeless attempt at more anc communist central control…their “our people” will still cultivate it by the acre and distribute it by the sack full through well established and saps / gang “protected” arrangements!
Easy come easy go.
Joining a long list of BE failures , especially those that received shares in previously successful companies for mahala.
I mean where else does the creditor stand good for the debtor , makes me sick.
More anc smoke, mirrors and disengenuos BS!
Odd how the anc communist controlled “economy” use free market capitist taxes to crow their populist “success” to their ” our people”….who just suck up their disengenuos BS…..hook, line and sinker!
I dont understand uncertainties about us elections.Trump will win in a landslide.
Look : Great news ! The corps is bleeding less …
Yes and ARC are so cash flush, they had to rely on a R2bn Sanlam financing facility to pay for the R1bn Alexander Forbes acquisition at the beginning of the year and to pay their capital contribution to the newly established African Rainbow Life. And they also need to use that facility to pay for their asset management acquisition. Go read the Sanlam interim results – the devil is always in the detail.
South Africa’s future does NOT rely on Eishkom.
It could be very well that given the current circumstances and the present ownership of Eskom, AdR is relatively doing a good job, more openness, demanding more accountability fro m the power station managers.
But as a whole, Gov should get as much out of the energy sector as much as possible. Eskom should be liquidated, it has almost R 500 B in debt and received more than R 200 B in bailots over the last 20 years.
SCRAP IT ASAP!
The whole generation side, incl the old coal fired power stations can be run by 3 or 4 competing private energy companies. The transmission system can still be partly owned by Gov. Gov, munis and metros should get out of distribution and sales completely.
It’s pretty clear cut to be honest. Notwithstanding the increase in the arrears interest rate, shareholders should be aware of the fees.
The disconnected between NAV and market cap is for the risk of the public shareholders and is exacerbated by the market.
The NAV is audited and independently verified, the discount carried in the market cap is because the market knows about the fee structure amougst other things and is willing to sell their shares at a 70% discount.
If anything the fact that ARC are willing to take shares (via underwrite) in lieu of cash payment for the management fee supports the notion that the market has undervalued the listed shares, significantly.
They talking BULL.
If they were so smart (…And I know a few of them that work there) they would be giving exceptional guidance all these years!
The world’s wealthy will agree with you 100%.
That’s why I enjoy websites like these, below:
https://nomadcapitalist.com/
Ag nooo!!
Now what do I do with my offshore Post Box in Liechtenstein, that I so dearly paid for? 🙁
Excuse me, profess(or) of this and other non-senses: because ‘people in cars don’t pay their fair share in terms of the taxes they pay, the last time I checked, motorists pay all the taxes and levies that are imposed on the petrol and diesel that the government is due, they pay taxes on all items they use for their motoring needs, including toll and other fees needed. So, what these mysterious taxes that motorists are supposed to not be paying? Also, why are private motor car owners (citizens) funding an entity which makes profits for private individuals in the main? Why are these people making the payment/debt public and privitizing the profits for themselves only. If you want motorists to invest, send me a share certificate, but don’t give me this clap trap!!! Like all motorists, I pay all taxes and levies required of me by government, not a cent more, not a cent less. Period.
It would be a lot better if the frog boiler Cyril would move to a Super alert about his thieving ANC comrades.
“I’m a socialist drinker!” The bartender chuckled and asked me, “Don’t you mean social drinker?”
“No, I only drink when someone else is paying.”
And that, boys, is why I’ve liquidated all assets and moving offshore. If they do not have the balls to sort something relatively minor like SAA, imagine what they will be doing with big issues like public debt, excessive salary budgets and failing SOEs. We on a hiding next to nothing sadly
Another day, another plan is being developed.
How about developing some implementation instead?
These guys spent 10 Years trying to make SAA profitable and only succeeded in making it worse. What divine intervention do they have to think they can now make it work??
IDIJITS ALL !!
This country has 33% children. 33% getting free stuff from the state and are unemployed. The other 20% are corrupt thieves. What happened to the other 13%?? Well 10% of those are the union members. They toi-toi all the time as they are not entitled to free stuff and are not in positions to steal stuff. 3% unknown.
Now we expect these people to fix what they broke? Like ESKOM, SAA, THE COUNTRY, ………….??
Hahaaaa. Dream on.
One cannot fault their warped communist logic ne !!!
I noticed that my firearm licences are up for renewal. Better get that done soonest.
No need for the state to commit to putting in any funding at all.
To put things in perspective of how the ANC have ruined opportunities in this country:
* South Korea is 29,000 square kilometres smaller than the Western Cape
* South Korea have 50 Million People
* South Korea’s neighbor country is North Korea
* South Korea have currently an annual GDP of 1.6 trillion US Dollar…yes, 1.6 TRILLION US DOLLARS!
Compare that to South Africa:
* South Africa is 12.2 times larger than South Korea
* South Africa have abundant resources – definitely much much more than South Korea (basically free money)
* South Africa have mostly the same population size of 55 odd million people
* South Africa’s annual GDP Pre-Covid = 368 Billion US Dollars
For those who do not understand billion to trillion:
* South Korea (which is 12.2 time smaller in size than South Africa) have an annual GDP 4.35 times higher than that of South Africa.
* South Korea’s GDP per capita are 4.92 times that of South Africa.
So, in conclusion – we (read Government) are doing something seriously wrong.
On a positive note (we should always try and do and say something positive) – we have a huge upswing potential. If we can stick and if our government can change for the better – there are no better place to be than South Africa.
Beerus Oor en uit (kkkgggg….)
The day government realises that business is not your enemy and creating environments where business can blossom, that will be the day millions will be moved into the middle class. That middle class have the potential to put SA on a massive economic growth trajectory.
If the pension funds want to buy something that has an engine and has a business model that flies, they should consider John Deere and Caterpillar. Deer offered a 29% CAGR in rand terms over the last 2 decades and pays a 2% dividend in dollars.
Ony basket case socialists will buy SAA that is crashing when they can buy Deer that is flying. They throw the viable and successful Comair under the bus and they support the disastrous SAA SOE. Basket case socialists want to protect jobs by throwing good money after bad, and by throwing entrepreneurs under the bus, while only entrepreneurs with money can create jobs. How stupid can you get?
This quest to “save jobs” to buy votes from unions, motivates basket case socialists to implement losing strategies that always deliver more unemployment and bankrupts the state.
Oh please, time for a fire sale – just wasting time and money procrastinating and delaying the inevitable.
Like he’s a saviour?????????? The ANC has trashed the economy and bankrupted thousands of businesses AND drained the fiscus they loot from.Let’s not pretend anything good happened here. P.S. They are still in their positions????????????????
It misses the mark cause it was done while high and also that it’s still a draft.