Transnet awards R2bn Coega tenders
About 900 jobs created in three years
CAPE TOWN Three major contracts worth more than R2bn for the construction of the harbour at Coega, approved by Transnet and given the nod yesterday by the cabinet, have placed the development of Coega and the associated industrial development zone on an irreversible path, says Public Enterprises Minister Jeff Radebe. The contracts, which will have a major effect on Eastern Cape's economy, provide for the construction of the Ngqura port, the control of sand erosion around the harbour and the dredging of the harbour to accommodate ships of up to 80000 tons.
(©www.bday.co.za)

A likely gateway to Africa's fortunes
About 2 000 years ago, traders battled the high seas to barter their wares at one of the world's greatest port cities. Far Eastern silks, Indian spices and Abyssinian gold all came through Alexandria: the prosperous political and commercial centre of Egypt, and an ancient seat of learning. Today, at the other end of the continent, Africa's current economic powerhouse - South Africa - is hoping a new multimillion-dollar port will help revive the region's fortunes.
(©www.busrep.co.za)

Absa reviews prospects for property interest rates
Pretoria - Lending rates and, therefore, home loan rates are expected to move sideways for the rest of the year, according to the latest Absa Quarterly Property Review. However, it has forecast a 1 percentage point decline in interest rates in the second quarter of next year and another reduction by the same margin by the fourth quarter of next year.
(©www.busrep.co.za)

Randburg Waterfront set to lose its lake
JOHANNESBURG's newest artificial lake is to disappear as the struggling Randburg Waterfront development goes through an R80m refurbishment programme seven years after its launch. Up to 80% of the space occupied by the 2,8ha lake will be filled, reducing the area under water to 6000m². A large portion of the filled area will be turned into rentable space and another portion used to create an open green space, and the development will change its name.
(©www.bday.co.za)

Export incentives for land developers
Durban - An association of property developers has gained the department of trade and industry's support to take part in offshore property exhibitions expected to generate about R1.5 billion in local sales over the next year.
(©www.busrep.co.za)

Unit trust rules may stimulate growth'
A NUMBER of changes to the structure and regulation of property unit trusts on the JSE Securities Exchange SA should stimulate growth in the sector, says Association of Property Unit Trusts chairman John Rainier.
(©www.bday.co.za)

Basil Read back in black for first half
CONSTRUCTION group Basil Read reported a return to profitability for the six months ending June yesterday, but said revenue was less than that of the corresponding period last year. This decline was because the company did not have much work in hand at the end of last year and at the start of this year. "We only really got active in projects in May, so there was little revenue before," Basil Read CEO Albert Bernardo said yesterday.
(©www.bday.co.za)

Basil Read engineers a profit turnaround
Pretoria - Basil Read Holdings, the construction, civil engineering and open cast mining group, yesterday reported a turnaround to profitability in the six months to June, with earnings a share of 19.01c compared with a loss of 63.21c last year. The turnaround was achieved despite a more than 17 percent decline in turnover to R241.25 million.
(©www.busrep.co.za)

House-proud shoppers support Italtile
ITALTILE, the tile and related sanitary products retailer, again showed strong earnings growth, pushing up attributable earnings 61,9% to R94,9m for the year ended June. This is the third consecutive year of steep growth for Italtile, which has seen turnover being pushed up from about R400m three years ago to R1,08bn this year. The group has produced a compound growth rate of 35,6% for the past 10 years.
(©www.bday.co.za)

Italtile grows for 11th year in row
Johannesburg - Italtile, the retailer of ceramic tiles, yesterday delivered its 11th consecutive year of improved earnings for the year to June, reporting a 61.9 percent increase in earnings a share to 518.3c, assisted by buoyant trading conditions.
(©www.busrep.co.za)

Dispute over payment gets Propfin suspended by JSE
A DISPUTE over a couple of thousand rand has resulted in the suspension of investment company Consolidated Property and Finance from the JSE Securities Exchange SA. The JSE said this week it had suspended Propfin "following the resignation by Computershare Investor Services as the company's transfer secretary". The JSE's new rules do not allow a company without a transfer secretary to remain listed.
(©www.bday.co.za)

Council of provinces chamber revamped
CAPE TOWN The R10m revamp of the chamber of Parliament which houses the National Council of Provinces was necessary to make the structure reflect SA's constitutional dispensation, council secretary Lulu Matyolo said yesterday.
(©www.bday.co.za)

BHP Billiton tags $852m for southern African soil
Johannesburg - BHP Billiton, the world's largest mining conglomerate, has projects worth $10 billion in the pipeline, but only $852 million of that is being spent in southern Africa.
(©www.busrep.co.za)

ApexHi's profit hits R175.6m despite deteriorating climate
Pretoria - ApexHi Properties, a listed property loan stock company, yesterday reported a distributable net profit of R175.6 million for the year to June.
(©www.busrep.co.za)

LeisureNet quizzed on Imax theatres
Cape Town - Contingent liabilities of R264 million for guarantees LeisureNet had given in respect of rental and equipment for four Imax theatres were not disclosed to the auditors, an inquiry was told yesterday. This brings to more than R1.1 billion the amount in contingent liabilities that were omitted from LeisureNet's 1999 annual financial statements.
(©www.busrep.co.za)

Bidcorp anticipates brighter future
Johannesburg - Bidcorp plc, a subsidiary of trading and services firm Bidvest Group, reported a sharp fall in interim earnings a share yesterday, but said it saw an improved outlook for the near term. Bidcorp, which has automotive, shipping and ports, and property businesses, said diluted headline earnings a share fell 66 percent to 0.2p in the six months to June, from a restated 0.6p in the period a year earlier.
(©www.busrep.co.za)

Enviro study for Wild Coast toll project
Following the successful completion of an environmental scoping study, independent environmental consultant Bohlweki Environmental and a team of specialists are currently conducting an environmental impact assessment (EIA) study into the proposed N2 Wild Coast project.
(©www.engineeringnews.co.za)

New concesssion on offer in Cape Peninsula park
In a bid to reinforce its capacity to conserve South Africa’s wildlife heritage, South African National Parks (SANParks) has launched a partnership with the private sector, whereby investors are allowed to construct new private lodges within national parks, or alternatively take over specified existing facilities.
(©www.engineeringnews.co.za)

Cape engineering students recruited by UK civils firm
Several top University of Cape Town (UCT) engineering students have been recruited for bursaries and employment opportunities by leading European engineering consultant company, Barhale.
(©www.engineeringnews.co.za)

Civil engineering in healthy position - report
With employment levels, tender activity, contract awards and turnover all having increased in the first quarter of 2002, the state of the civil engineering industry seems quite healthy, with all indications pointing towards continuing growth for the remainder of the year.
(©www.engineeringnews.co.za)

Downstream aluminium project launched in KZN
Project Partners of the Downstream Aluminium Pilot Project have launched the long awaited project at the ZCBF Community Park. The project, initiated by Hillside Aluminium and facilitated by the ZCBF, is a fully operational foundry which aims to train potential entrepreneurs in all aspects of a small aluminium foundry’s operation, thereby opening doors to formal or self employment.
(©www.engineeringnews.co.za)

SA steel sector members urged to co-operate
HIGHVELD Steel and Vanadium chairman and CEO Trevor Jones has described the outlook for the domestic steel market as strong for the remainder of the year, but said that industry would have to co-operate more to reap the benefits. While Jones was positive about SA and African market growth, he described the global demand for the year as reasonably strong with some growth, driven mainly by China and the Pacific Rim.
(©www.bday.co.za)

Iscor dismayed by monopoly-pricing allegations
South Africa’s largest steel producer Iscor has reacted with dismay to allegations that it was acting in an anti-competitive manner by raising its prices, saying that such claims were misinformed.
(©www.miningweekly.co.za)

Boat builders float on turnover of R500m
Cape Town - The boat building industry in South Africa now had an annual turnover of about R500 million, according to the department of trade and industry, and 85 percent of its production was exported to the US or the Caribbean.
(©www.busrep.co.za)

Grindrod steams ahead with 61% rise in headline earnings
Durban - Shipping and logistics group Grindrod posted a 61 percent rise in headline earnings in the six months to June despite softer international trading markets.
(©www.busrep.co.za)

SAFCEC NEWS

RESERVOIR PROJECTS IN LESOTHO
It has been brought to SAFCEC’s attention that an individual, purporting to be from the a government department in Lesotho, has approached certain members in regard to the design and construction of reservoirs in that country. Members are warned that any such approach should be dealt with the greatest caution. A direct approach to the department in question has revealed that no tenders for the design and construction of reservoirs in that country are even in the pipeline and it seems that this approach may be a scam to relieve contractors of tender deposits.

Please note that the registration forms distributed with last week’s newsletter contain certain errors. The AGM takes place on WEDNESDAY, 11 SEPTEMBER 2002 and registration forms need to be returned to Anna by Monday 2 September 2002. The venue is the Sunnyside Hotel in Parktown and the price is R135 per person. Please see the corrected forms.

VACANCIES AVAILABLE
Murray & Roberts Civils has vacancies for a Planner and a Senior Estimator. Please see the notice.

SAFCEC EXPORT
An interactive social function will take place at 16:00 on 15th August at SAFCEC. Meeting of exporters, bankers, shippers, Trade and Industry, Foreign Affairs, Treasury, Nepad officials and Trade Attaché’s and SAFCEC EXPORT MEMBERS, open to all interested in Cross-Border activities - confirm attendance by 8th August to export@safcec.org.za
(©www.safcec.org.za)

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Online property search on Business Day site
TENANTS and investors looking for offices, shops or industrial premises can now search online at Business Day. Over the past six years CompuSpace and key industry players have developed an industry intranet where, each month, property owners, managers and developers publish information on premises available to let and for sale.
(©www.bday.co.za)

Future of the Department Store
When JCPenney left the Florence Mall in Florence, S.C., in 1992, mall owner Edens & Avant didn't scramble to find another department store to fill the anchor slot. Instead it quickly struck a deal with a restaurateur to fill the space. Some 10 years later, the “de-malled” center is welcoming discounters T.J. Maxx and Ross Stores as part of a $10 million expansion.
(©www.industryclick.com)

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Replicating SA's sanitation success globally is daunting
Johannesburg - Ivy is thankful for small miracles: such as the prospect of running water and a toilet in her home for the first time in her life. "It's good, it works," she said as she pointed to the enclosed toilet and sink on a plot of land just north of Johannesburg where her subsidised house will be built next year.
(©www.busrep.co.za)

Government clarifies stance on housing loans
Government had no intention of mobilising disadvantaged S.A to flood banks with housing loan applications.
(©www.netassets.co.za)

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Quiet service for Kenya's blast victims
NAIROBI Quiet, private ceremonies held yesterday replaced the usual public memorials marking the anniversary of a terrorist bomb attack on the US embassy in Kenya.
Islamic militants linked to Osama bin Laden blew up the US embassy in Nairobi on August 7 1998, killing 219 people, mostly Kenyans. A nearly simultaneous attack on the US embassy in neighbouring Tanzania killed 12 and injured 80.
(©www.bday.co.za)

Spanish firm awarded Libyan oil contract
Spanish oil major Repsol yesterday said a consortium it leads has won approval from the National Oil Company of Libya to explore and produce in the Murzuk basin.
(©www.engineeringnews.co.za)

SA's new port seen as African gateway
Some 2 000 years ago traders battled the high seas to barter their wares at one of the world's greatest port cities. Far Eastern silks, Indian spices and Abyssinian gold all came through Alexandria: the prosperous political centre of Egypt, as well as an ancient seat of learning. Today, at the other end of the continent, Africa's current economic powerhouse South Africa is hoping a new multi-million dollar port will help revive the region's fortunes.
(©www.engineeringnews.co.za)

State, farmers poised for battle in Zimbabwe
BATTLE lines are drawn between Zimbabwean President Robert Mugabe's government and commercial farmers ahead of today's midnight deadline for thousands of farmers to vacate their land. Confrontation simmered last night during addresses to the Commercial Farmers Union's (CFU's) annual congress by government officials and farmers.
(©www.bday.co.za)

First shipment soon from Rwanda tin operation
Metal Processing Association (MPA) will make its first shipment of tin in August from operations in Rwanda, where it aims to produce 200 tons a month within three months, said the company which will market the metal, Hochschild Partners LLC of New York.
(©www.miningweekly.co.za)

Setback to SA plan for Namibian gas
PLANS by SA to import gas from southern Namibia for seven Cape local authorities suffered a major setback with the announcement by Shell Exploration and Production that it has pulled out of the Kudu offshore gas project. Shell Exploration and Production Namibia MD Femi Bajomo said they were withdrawing after a number of test wells proved disappointing.
(©www.bday.co.za)

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State, platinum giant reach accord on mining permits
The world's leading platinum producer Anglo Platinum and the Department of Minerals and Energy (DME) have reached agreement on six of Anglo Platinum's applications for mining authorisations.
(©www.miningweekly.co.za)

SA gold giant cautious on gold price
South African miner AngloGold yesterday said suggestions that gold prices would trade higher were "over-optimistic".
(©www.miningweekly.co.za)

Fingers pointed at charter after rand collapses to a five-week low against dollar on mining charter
Johannesburg - The rand lurched to a five-week low yesterday, shedding 2.6 percent of its value against the dollar on offshore selling sparked by jitters over equity outflows and a draft mining charter leaked 10 days ago.
(©www.busrep.co.za)

State, mining group to meet next week
Diversified miner Anglo American and its diamond arm De Beers will meet South African ministers on August 14 to discuss government plans to give black business a bigger role in mining, a government spokesperson said yesterday.
(©www.miningweekly.co.za)

Ncholo quits ERPM gold mine
Khumo Bathong chairperson Dr Paseka Ncholo has quit as chairperson and director of the 109-year-old East Rand Proprietary Mine (ERPM) in Boksburg.
(©www.miningweekly.co.za)

Electronic-delay-detonator deal struck
A leading supplier of explosives to South Africa’s opencast mining and quarrying industry, BME, has signed a cooperation agreement with French-based mining and explosive engineering multinational Delta Caps International (DCI).
(©www.miningweekly.co.za)

Analyst welcomes Harmony acquisition
Johannesburg - Harmony's acquisition of a 33 percent stake in a Jersey-based company that owns Russian deposits for $18.9 million was "excellent news", Evy Hambro, a fund manager at Merrill Lynch, said yesterday.
(©www.busrep.co.za)

Angloplat and minister move to allay mining fears
Cape Town - In a move designed to defuse criticism of the controversial Mineral and Petroleum Resources Bill and the planned mining charter, the government and Anglo Platinum (Angloplat) yesterday took the unusual step of jointly announcing major new black empowerment deals in the Bushveld.
(©www.busrep.co.za)

Angloplat and state seal R20bn investment
CAPE TOWN Anglo Platinum and the government have shelved their differences over mining rights by sealing an empowerment deal that will secure R20bn of investment in the local platinum industry.
(©www.bday.co.za)

Anglo aims to join FTSE's social responsibility index
Johannesburg - Anglo American is hoping to make it to the FTSE's For Good index, a recognised measure of corporate social responsibility among firms listed on the London Stock Exchange.
(©www.busrep.co.za)

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Home ownership will flourish as part of a range of choices
As you know, the banking industry responded in detail to the proposed Community Reinvestment Bill on June 20. We have not heard from the department of housing since then, and were somewhat surprised at the extensive public comment you have given on the subject. We therefore consider it appropriate to respond in the media.
(©www.busrep.co.za)

Gauteng house prices surge 17,2%
GAUTENG house prices continued to surge in the second quarter of this year, climbing 17,2%. They outpaced a national house price growth average of 12,2%, according to the latest Absa residential property market survey. Gauteng derives its strength from a staggering performance shown by the greater Johannesburg area since 2000. "It seems Cape Town is no longer the flavour of the month," says Absa senior economist Jacques du Toit.
(©www.bday.co.za)

New homes in: Kyalami
Homeowners who love the security of estate living but long for more elbow room will find what they need at a new Sable Homes development at Kyalami.
(©www.property24.co.za)

PA calls off talks with Jigsaw
Negotiations to merge the real estate services companies PA Group and JSE-listed Jigsaw Holdings have been terminated, PA Group CEO Jan le Roux announced yesterday.
(©www.property24.co.za)

Market now 'balanced'
Buyers and sellers in the residential property market are now 'in equilibrium', and there's much more chance of a fair negotiation than in the past two years, when sellers were able to take advantage of low inflation, low interest rates and low stock levels.
(©www.property24.co.za)

R6bn in sales for Property24 agents
The latest Property24 figures indicate not only how the popularity of online househunting in South Africa is growing, but how this trend is translating into sales.
(©www.property24.co.za)

A fledgling flies
The newest mortgage originator, Bond Choice, has signed business of about R200m in its first month of operation. This is in addition to the R250m it claims to have signed before it was launched.
(©www.fm.co.za)

New Homenet branch in Pinetown
The sustained demand for good homes in Durban's more affluent areas has persuaded the well-established Homenet EG Cooper Estates in Westville to expand by opening a new branch in Pinetown.
(©www.property24.co.za)

Choosing between two homes
Picking the right new home is tough - and if there's a 'tie' between two good prospects, making a decision to buy one property or the other can drive you to distraction.
(©www.property24.co.za)

Standard has a positive view on property
In spite of the September 11 attacks on the United States and worrying fears of a global recession the residential property market has shown signs of improvements, according to Standard Bank. In its June 28 review of residential property the bank forecasts a continued positive outlook for residential property, highlighting its resilience during times of greater volatility, which it notes bode well for the overall market in the months to come.
(©The Property Professional Online)

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Hat Trick for Wits
And the winner is . . . Wits Business School. For the third year running the Johannesburg-based business school clinches top honours in the FM MBA rankings. Wits edged out the business schools of the University of Cape Town (UCT), University of SA (Unisa) and Stellenbosch University into second, third and fourth spot respectively.
(©www.fm.co.za)

Creating wealth from small beginnings
You can create financial independence for yourself - even with R100 or less a month to invest, says popular financial guru Suze Orman - and you do not need offshore investments to do it. Here is her advice about how to begin building wealth for yourself.
(©www.netassets.co.za)

A Long Term View of Project Management - Its Past And Likely Future
A paper delivered by Dr Martin Barnes at the 16th World Congress on Project Management - Berlin on the 5th June 2002
Projects have been managed for as long as there have been projects. There have been projects for as long as groups of people have set out to achieve things – which is longer than recorded history - millions and millions of projects stretching back over thousands of years. Only in the last thirty years has project management been recognised as a science which could be defined, learnt and widely applied. Being newly recognised, the science was also developed quickly during that time. Like any other applied science, people will continue to develop it so long as it remains useful. And also, like any useful applied science, project management will be applied more and more widely over time.
(©www.pmforum.org)

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Fate of SA's trade offices abroad pending
Johannesburg - Intradepartmental negotiations on the future of South Africa's trade promotion offices abroad are ongoing and no decision has been made about which will stay open and which will be closed, according to the department of trade and industry.

Stocks follow global markets higher on US rate cut expectations
Johannesburg - Stocks followed global markets higher yesterday amid expectations the US Federal Reserve would cut interest rates to fuel economic growth. Reassurances by heavyweight Anglo American that it would meet government to discuss black ownership of mines boosted sentiment on the bourse while a weak rand supported rand hedge stocks.
(©www.busrep.co.za)

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Bullion price soars on expectations of US rate cut
Johannesburg - Gold stocks surged 7.5 percent yesterday to close at 2634 points as the bullion price rushed up more than $8 to an intraday best of $314.75 on expectations another interest rate cut by the Federal Reserve would stimulate US economic growth.
(©www.busrep.co.za)

Gold most to blame for R1.7bn fall in reserves
Johannesburg - The lower gold price and the rand's mild appreciation in July resulted in South Africa's gross gold and foreign reserves falling R1.7 billion to R76.6 billion in the month, the Reserve Bank said yesterday.
(©www.busrep.co.za)

Rand takes heart on positive emerging market sentiment
Johannesburg - Sentiment towards emerging markets took a turn for the better yesterday amid optimism that the International Monetary Fund and Brazil would agree on a new debt package that would assist the the country to settle its debt.
(©www.busrep.co.za)

Gauteng
Click through to the Gauteng Chapter's latest news. Please be advised that newsletters will in future be sent via e-mail only (you will also be able to read it on the ASAQS website). The first Gauteng e-newsletter will be dispatched this week. If you don't receive your copy please e-mail the Webmaster.

Golf Day
Join us for the 2002 Pretoria Golf Day on 3 September 2002

CPD Seminar
Join the Gauteng Chapter for a special CPD Seminar entitled "The Commonwealth's Values and Assets" on 2 September 2002 and earn 13 CPD points. Click on this link to get further details and view the program.

Seen on the ASAQS Classifieds
UK QS Vacancies
Young surveyors required with cost planning and procurement experience.Train toward project management. Computer literacy essential - MS Excel,etc.
QUANTITY SURVEYOR
Registered Quantity Surveyor required to manage our Queenstown office. Excellent career oppurtunity.

Remember: Visit the ASAQS website for new updates!

New members to the CUG

Gideon Vermeulen

Please note that your registration to the CUG will remain in force as long as you remain a member of ASAQS and there is no need to register every year. If you have not received an e-mail confirming your registration contact ASAQS.

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