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CONSTRUCTION AND DEVELOPMENT NEWS |
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Property
expert discredits popular view on high gearing
LISTED-property expert and head of Catalyst Gauteng operations Harry
Boonzaaier has again discredited the popular view that high gearing
was good for shareholder value in property investment vehicles.
Addressing the Catalyst property trends conference held in Johannesburg
yesterday, Boonzaaier could have unsettled a number of players in
the listed property sector who run dangerously high gearing levels.
(©www.bday.co.za)
Innovation
enables Paraprop to clinch deals
FINANCIAL engineering enabled property loan stock company Paramount
Properties (Paraprop) to acquire high-quality, low-yielding properties
without diluting the yield of its unit holders, the company said
yesterday.Many deals were botched by the differential between yields
of listed property funds and those of the portfolios targeted for
acquisitions.
(©www.bday.co.za)
Market
conditions worry key players
Combined with rising vacancies, interest rate hike is a recipe for
disaster for small, highly geared property investors. Adrenaline
levels among many commercial property investors are rising as they
watch general market conditions veer towards catastrophe.
(©www.bday.co.za)
Real
growth in construction is slowing - bureau
Pretoria - Real growth in the construction industry was slowing
down, the Bureau for Economic Research at the University of Stellenbosch
said yesterday.
(©www.busrep.co.za)
Surge
in industry prompts three deals
HOPE that the depreciation of the rand will give SA-manufactured
goods a price-competitive advantage on global markets has spurred
industrial sector activity in the northern suburbs of Cape Town
and Helderberg.
(©www.bday.co.za)
Airport
area designated an IDZ
TRADE and Industry Minister Alec Erwin has designated an area around
Johannesburg International Airport as an industrial development
zone (IDZ), according to an announcement in a recent Government
Gazette.The move will allow work to proceed on the setting up of
the industrial development zone. Among the benefits are reduced
red tape for businesses operating within the zone.
(©www.bday.co.za)
Johannesburg
airport is a large slice of the SA economic pie
JOHANNESBURG International Airport has a significant effect on the
economy of Gauteng and the country as a whole, contributing directly
and indirectly to gross domestic product (GDP), employment and the
tax base.
(©www.bday.co.za)
Further
rates hike will hurt building sector - report
An analysis of the latest official statistics pertaining to overall
building activity indicates that real growth in the industry is
slowing.
(©www.engineeringnews.co.za)
New
chemical engineering facility for UCT
Work has begun on a multi-million rand project to construct a new
building to house the University of Cape Towns (UCT) renowned
Chemical Engineering department.
(©www.engineeringnews.co.za)
Nearly
half Aveng's revenue now from outside SA
AVENG, the largest construction group in SA, is close to achieving
its target of generating half of its revenue from operations outside
southern Africa. In the past financial year to June 30, the company
grew its revenue from 35% to 45%. This was up from 3% in 1998.
(©www.bday.co.za)
Steel
price surge endangering fastener exports
The escalating price of steel, with an about 42% increase in just
nine months, has not only increased the cost of production, but
has also resulted in the cancellation of some export deals, laments
Nedschroef Johannesburg MD Peter Swanson.
(©www.engineeringnews.co.za)
Local
steel industry is booming
Johannesburg - South Africa's steel and engineering industry was
booming, with most sectors' sales growing by between 16 percent
and 25 percent in the first half of this year, outgoing Steel and
Engineering Industries Federation of SA (Seifsa) president Tony
Harris said yesterday.
(©www.busrep.co.za)
Complicated
relationship
DOES establishing a joint venture in one market mean two companies
cannot compete fairly in another?
That is one of the issues confronting the Competition Commission
in its investigation of complaints against steel groups Iscor, Macsteel
and Macsteel International BV, their international marketing joint
venture.
(©www.bday.co.za)
Drive
is on to find suitable beneficiated steel products
THE Stainless Steel Development Association (Sassda) is promoting
SA as a potential venue for the manufacture of a large new automotive
stainless steel component, which could become an integral part of
cars worldwide.
(©www.bday.co.za)
CGT
cascade effect takes toll on firms
Recent legal developments are offering some solutions to the complications
that arose from the introduction of capital gains tax.
(©www.bday.co.za)
Gorfil
adds to growing Fairvest asset base
PROPERTY loan stock company Fairvest was working at full steam to
achieve critical mass, Fairvest fund manager Nicky Vontas said at
the weekend. His statement came right after the group announced
the transfer of a R79,3m property portfolio from a firm called Gorfil
Properties to Fairvest's books.
(©www.bday.co.za)
Redefine
buys Rand Leases' investment properties
PROPERTY loan stock company Redefine has pulled off a R349,5m acquisition
in what appeared to be a tussle-driven transaction with Rand Leases
Properties. Announced yesterday, the deal transferred all Rand Leases'
investment properties into Redefine, leaving the group only with
land development operations.
(©www.bday.co.za)
Acucap
in talks with Cenprop over acquisition of two properties
PROPERTY loan stock company Acucap Properties announced yesterday
that it was talking to Cenprop about the acquisition of two Cenprop
properties, The Mall of Rosebank and JHI House.Cenprop has been
negotiating with another property loan stock company, Hyprop, about
the acquisition of the same properties.
(©www.bday.co.za)
SADC
electricity regulators' unity bid
A REGIONAL association of electricity regulators has been established
in a bid to provide a platform for co-operation between independent
power regulators within the Southern African Development Community
(SADC). The move comes amid growing emphasis on the need to build
regulatory capacity in the region across all sectors and to develop
harmonised market structures and institutional arrangements.
(©www.bday.co.za)
Mintek
plans to nurture SA car parts industry
Agency intends to utilise magnesium. SA's mineral and metallurgical
research and development agency Mintek is planning to nurture the
emergence of a new local component cluster to feed the ever-expanding
automotive industry, based on magnesium.
(©www.bday.co.za)
Global
players return with major investments, export opportunities
Development programme remains the key to boom, write Carli Lourens
and Larry Claasen. The booming automotive catalytic converter industry
says it could go into reverse mode if government continued to phase
down benefits gained through the Motor Industry Development Programme
(MIDP)
(©www.bday.co.za)
SABS
divided into two new units as it restructures
Influence extending to Africa. The restructuring of the SA Bureau
of Standards (SABS) into two bodies brings it closer to completing
a transformation process that began four years ago. The SABS has
been divided into Standards SA (Stansa), that will act as a standards
regulator on safety and health issues, and SABS Holdings, a state
enterprise that will control the testing facilities and services.
Both will answer to the SA National Standards Organisation.
(©www.bday.co.za)
Foreign
income increases for CSIR
THE income of the Council for Scientific and Industrial Research
(CSIR) from foreign activities has grown 40% to R89m in the 200102
financial year. Foreign business now generates 15% of the research
council's external operating income of R493m.
(©www.bday.co.za)
Rail
upgrade for Gauteng to ECape
Public Enterprise Minister Jeff Radebe has committed a portion of
Transnet's budget for the next 10 years to upgrade rail links between
the Eastern Cape and Gauteng to ensure the success of projects like
the East London Industrial Development Zone and Coega.
(©www.bday.co.za)
Sexwale
welcomes end to uncertainty
Mvelaphanda chairman says that Mbeki has recognised sensitivity
of mining sector and shown courage
Tokyo Sexwale, chairman of Mvelaphanda Resources, the first empowerment
resources company to list on the JSE Securities Exchange SA, said
yesterday that the empowerment charter for the SA mining industry
was a milestone in the country's economy.
(©www.bday.co.za)
Engineering
privatisation moves ahead
Binding offers for a 26% share in Eskom Enterprises-owned engineering
firm Roshcon were expected to be received on September 25, following
the receipt of eight non-binding offers on July 24.
(©www.engineeringnews.co.za)
Recommended
route to be announced this month
The recommended route alignment of the Gautrain, the proposed speedtrain
between the Johannesburg International Airport, Pretoria and Johannesburg,
is to be announced by the publication of a draft environmental impact
assessment (EIA) on October 21.
(©www.engineeringnews.co.za)
Grintek
plans to help Nepad succeed
DEFENCE electronics and telecommunications group Grintek planned
to help turn the New Partnership for Africa's Development (Nepad)
dream into a reality through partnerships in the rest of Africa,
chairman Zoli Kunene said yesterday. His remarks were published
in Grintek's 2002 annual report and showed that the company was
eyeing the continent as an important area for future expansion.
(©www.bday.co.za)
Wireless
Internet with your coffee
South Africa's telecommunications operator Telkom is investigating
a new technology that could enable coffee-shop customers, or waiting
airport passengers, with properly-equipped laptops or personal digital
assistants (PDA), to link up to the Internet without plugging in.
(©www.engineeringnews.co.za)
SAFCEC NEWS
CPAF INDICES AUGUST 2002
The CPAF Indices for August 2002 have been published by the STATSSA
and an amended schedule is available
here.
(©www.safcec.org.za)
SHE RISK MANAGEMENT
The SAFCEC Occupational Health & Safety Committee has recently
developed a pro-forma report in an attempt to standardise the reporting
of Safety, Health and Environmental Risk Management performance.
Click
here for an example of the report.
(©www.safcec.org.za)
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to Index
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RETAIL ROUNDUP |
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Edcon
snaps up CNA Group for R141m
Edcon, the fashion retail giant that owns Edgars, snapped up 108-year-old
news agent and stationery chain CNA Group for R141m last night after
a long and hard-fought battle to save the group that was put into
liquidation by its creditors two months ago.
(©www.bday.co.za)
Insure
in R2.1m turnaround
Insurance Outsourcing Managers Holdings (Insure) has reflected a
R2.1-million turnaround from a R1.5-million headline loss in August
2001 to a headline profit of R0.6-million for the half year to the
end of August this year.
(©www.bday.co.za)
Agricultural
experts want probe of food retailers over high prices
One of the solutions is to investigate competitiveness of food markets
at retail level', they say. Agricultural experts this week called
for further investigation of food retailers to stem high food prices.
(©www.bday.co.za)
Cosatu
wants retailers to hear its voice
Union workers could picket, march. Retailers across the country
are facing the wrath of labour federation Cosatu over the escalating
food prices.Smarting from a recent poor showing on the antiprivatisation
strike, Cosatu said yesterday it was working on a programme of action,
which would include pickets and marches, to focus the minds of the
people on real causes of food prices.
(©www.bday.co.za)
Offices,
shops now also on Property24
Property24 has joined forces with Sapoa Online to add a commercial
property search facility to its extensive range of residential property
services.
(©www.property24.co.za)
Back
to Index
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LOW COST HOUSING NEWS AND LAND ISSUES
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Housing
agency slams new subsidy policy as a radical change
KEY aspects of national housing policy came under fire yesterday
from the executive director of the National Urban Reconstruction
and Housing Agency. At a conference hosted by the Institute for
Housing of SA in East London, Jill Strelitz suggested a forum of
housing industry stakeholders to review housing policy.
(©www.bday.co.za)
Farming
plan to top agenda
IMPLEMENTATION of SA's sector plan for agriculture will top the
agenda at this week's annual meeting of the commercial farmers'
union.AgriSA, which represents 40000 commercial farmers, will tell
its members this week of the status of the strategic plan a product
of government and farmers unions which was approved by President
Thabo Mbeki late last year.
(©www.bday.co.za)
Back
to Index
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NEWS FROM AFRICA |
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OR HOAX?
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Harare
talks to test quiet diplomacy's credibility
Without tangible progress, SADC and Nepad could be facing new pressures.
The credibility of SA's "quiet diplomacy" towards Harare
will face a test today when SA Foreign Minister Nkosazana DlaminiZuma
meets Zimbabwean President Robert Mugabe.
(©www.bday.co.za)
SA
to donate maize to UN food programme
Government also offers to mill genetically modified grain.SA IS
to donate 100000 tons of maize to the United Nations World Food
Programme (WFP) for emergency food assistance in the region. The
offer of maize to help supply the six countries in the region facing
critical shortages came at last week's Southern African Development
Community (SADC) Summit in Luanda.
(©www.bday.co.za)
Botswana
plans to float new bond
GABORONE Botswana, Africa's most financially stable country, plans
to float a multimillion-pula bond, a move likely to keep corporate
advisers' midnight oil burning and boost liquidity in the country's
still tiny capital markets.
(©www.bday.co.za)
SA
invited to join a new banking sector think-tank
A NEW banking think-tank for Africa, the Middle East and Europe
has been launched, aiming to secure participation from more than
100 of the top financial institutions from across the region.The
new Financial Industry Council, launched by the UK-based Lafferty
Group, will meet biannually for members to debate policy, trends
and policy in the banking and financial sector.
(©www.bday.co.za)
Farmers
speak out against Mbeki
AGRISA president Japie Grobler yesterday strongly criticised Thabo
Mbeki for not condemning the Zimbabwean state's actions on land
reform saying this was not reassuring for commercial farmers in
SA.Mbeki snubbed AgriSA's invitation for the president to provide
clarity on his views on Zimbabwe at its annual congress this year
in Somerset West.
(©www.bday.co.za)
Mozambique
seeks to privatise LAM airline
Maputo - Mozambique is seeking a buyer for a 51 percent stake in
the national airline Linhas Aereas de Mocambique (LAM), a government
official said Monday.
(©www.busrep.co.za)
Swaziland
Railways to downsize
Mbabane - Swaziland Railways has offered its 600 employees, who
have been with the company for over 20 years, early retirement in
a bid to cut the workforce in half.The Swaziland Transport and Allied
Workers' Union plans to strike if management refuses to negotiate.
(©www.busrep.co.za)
Zambia
may secure World Bank loan
Lusaka - The World Bank might give Zambia a loan to buy non-genetically
modified maize to help feed nearly 3 million people threatened by
famine, agriculture and co-operatives minister Mundia Sikatana said
this week.
(©www.busrep.co.za)
Mugabe's
next stop may be mines
Harare - Zimbabwe's mines and leading industries are likely to be
invaded next, according to a leading Zimbabwean analyst.Speaking
at a meeting of the country's Mass Public Opinion Institute, Brian
Raftopoulos from the University of Zimbabwe's Institute of Development
Studies said that as the country's economy shrinks, war vets were
likely to look at other choice targets away from the thousands of
farms they had seized already.
(©www.busrep.co.za)
Tanzania
approves $20m SAA purchase
Tanzania's government said it has approved a $20 million bid by
South African Airways (SAA) for 49% of state-owned Air Tanzania
Corporation.SAA was named the sole bidder for the Air Tanzania Corporation
(ATC) stake last month, after Kenya Airways withdrew on concerns
that the bid would affect its shareholder value.
(©www.engineeringnews.co.za)
Back
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MINING NEWS |
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NEWS FLASHES FOR ARCHITECTS
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The Inland Branch of the Concrete Society of
Southern Africa extend an invitation to the members of the
Pretoria Institute of Architectutr to attend a presentation
by Dr. Graham Grieve, Executive Director of the Cement and
Concrete Institute, entitled:
"CUTTING EDGE SPECIFYING - What you really
must know about cements"
Aimed especially at architects and consulting engineers, this
presentation will clarify some of the existing confusion about
the various new cement types currently on the market; what
factors to consider when selecting a suitable cement, and
what to specify. It will also challenge the industry for more
expansive specifying in the future.
Date: Tuesday 8th October 2002
Venue: Auditorium, School of
Concrete Technology, Portland Park,
Old Pretoria Road, Halfway House, Midrand
Time: 15h30 for 16h00
Cost: R100 (CSSA members free)
Refreshments after the presentation with the compliments of
the Inland Branch of the Concrete Society
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envy of our continent. In the same spirit, SAFCEC has prepared
itself for the challenges awaiting us in the new millennium. |
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Industry
to help raise R100bn for black mining
GOVERNMENT approved an empowerment charter for the mining industry
yesterday that requires all mines to be 15% black owned in five
years and 26% in 10 years, while industry has agreed to help raise
R100bn to help fund the transfer.
(©www.bday.co.za)
New
mining charter and the controversial leaked version are like chalk
and cheese
Industry empowerment plan seems to be courting favour, though not
everyone is optimistic.Barring any last minute glitches, a charter
for the SA mining industry, presenting guidelines for empowerment
and upliftment in the context of the new Minerals and Petroleum
Resources Development Bill, will be approved at a cabinet meeting
today.
(©www.bday.co.za)
Charter
is a critical milestone for SA
Sector offered pragmatic foundation to resolve critical and competing
imperatives.The mining charter constitutes a breakthrough for socioeconomic
policy making in SA, even by global standards. The charter has both
symbolic and substantive significance.
(©www.bday.co.za)
Diamond
industry has to be responsible
INTERNATIONAL diamond mining needed to be a force for good and a
key element in the development of countries where diamonds were
mined, De Beers chairman Nicky Oppenheimer said this week in Belgium
at the Antwerp Diamond Conference. This belief in diamonds as a
source of good, said Oppenheimer, was based on De Beers' experience
in SA, Botswana, and Namibia.
(©www.bday.co.za)
Mintek
aims to build R480m plant at Coega
Project's value would be far-reaching. SA's mineral and metallurgical
research and development agency, Mintek, said yesterday that it
wanted to build a R480m plant at Coega to produce electrolytic manganese
dioxide (EMD), which is used in batteries.
(©www.bday.co.za)
A
better charter
MINING industry stakeholders will be struggling to get their teeth
mind around the full title of the revised mining charter, now dubbed
the "Proposed broadbased socio-economic empowerment charter
for the SA mining industry."
(©www.bday.co.za)
Mining
groups come out in support of charter
SA's largest mining companies said yesterday that they backed the
final draft of the empowerment charter for the mining industry.
The charter differs radically from the draft that was leaked in
July, and call for 26% of the mining industry, which government
values at R750bn, to be empowerment controlled in 10 years.
(©www.bday.co.za)
Mining
is about people, not about rocks
Employee buy-in and innovative leadership create a happy environment.
Patrice Motsepe began his business training at the age of six when
he would wake early to help his entrepreneurial father.Trained as
a lawyer, he shifted to the mining industry, starting his own SA
mining company as well as other enterprises. Nobody would give him
a loan when he started and so for the first nine months he ran his
company from his briefcase.
(©www.bday.co.za)
IDC
to present its case on iron-ore deals today
The State-owned Industrial Development Corporation (IDC) will today
reveal details about the scope of its intended intervention in a
Competition Tribunal hearing regarding the purchase by Anglo American
of large stakes in Anglovaal Mining and Kumba Resources.
(©www.miningweekly.co.za)
Russian
PGM deal supports market
Russian metals giant MMC Norilsk Nickel's long-term deal to supply
world number one car maker General Motors with metals that reduce
harmful car exhaust emissions would bring much needed stability
to the world metals market, analysts said yesterday.
(©www.miningweekly.co.za)
Iron-ore
group endorses charter
Mining group Kumba has endorsed the new empowerment charter.Dr Con
Fauconnier, CE of Kumba Resources, describes the Mineral and Petroleum
Resources Development Act and its associated socio-economic empowerment
charter as a definite milestone and a bold move that is set to change
the face of the South African mining and metals industry.
(©www.miningweekly.co.za)
Mining
group wins 180 000t Zambia oil deal
A unit of Canadian mining group DiamondWorks has been handed a fresh
contract to supply Zambia with 180 000t of crude oil to last the
southern African country 150 days, the energy ministry said on Wednesday.
(©www.miningweekly.co.za)
Oppenheimer
says gem mining is a force for good
De Beers chairman Nicky Oppenheimer says diamond mining must be
a force for good and a key element in the sustainable development
of countries where diamonds are found.
(©www.miningweekly.co.za)
Platinum
miner in Southern African expansion . . .
Aquarius Platinum (AQP), the Australian- and London- listed mining
group, is about to pursue a major expansion drive in South Africa.
The mining group is aiming to produce over 800 000 oz/y from its
Southern African operations by 2006.
(©www.miningweekly.co.za)
Infrared
military technology finds use in mining industry
An East Rand company was commissioned by a UK defence company to
develop an explosion detection and suppression system for military
applications.
(©www.miningweekly.co.za)
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NEWS FOR ESTATE AGENTS AND HOME OWNERS |
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Get free issues of the Property Professional Online
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National newsletter by
Rodney Hayter, News Editor of
The Property Professional Magazine.
One voice for Property.
Click on the link below which will open your e-mail client,
insert SUBSCRIBE in the subject line and pop it off to Rodney
Subscribe
to The Property Professional Online
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House
building sector buoyant
Cape Town. Building activity in the residential sector had remained
buoyant, but the nonresidential sector was struggling. This was
reported yesterday by Bureau for Economic Research (BER).
(©www.bday.co.za)
Higher
debt costs can trigger repossessions
THE residential property sector could see a rise in repossessions
as a result of the interest rate hikes of four percentage points
this year, says Realty Executives MD Anthony van der Riet.The interest
rate hikes have translated into an increase of about 25% in minimum
monthly home loan repayments.
(©www.bday.co.za)
One-stop
convenience shop for clients
LEADING originator Mortgage SA will soon launch a life insurance
division as it continues to evolve its service offering to clients.Most
home-loan clients are obliged by their banks to take out home-loan
protection or credit life insurance, and Mortgage SA will focus
on getting customers the best deal on these products.
(©www.bday.co.za)
Home
businesses and HOAs
The issue of home-based businesses in cluster developments and other
gated communities has become a hot topic as improving telephone
and Internet technology make it increasingly cost-effective, efficient
and practical to work at home.
(©www.property24.co.za)
W
Cape expertise available in Gauteng
In response to a growing interest among Gauteng investors in Western
Cape properties, Pam Golding Properties has appointed regional property
specialist Bev Bloch to a full-time position based at the group's
Gauteng offices in Hyde Park, Sandton.
(©www.property24.co.za)
SA
sellers should stick to SA pricing
South African home sellers, especially in middle-income suburbs,
should concentrate on attracting South African buyers - and price
their properties accordingly.
(©www.property24.co.za)
Cape prices rise by 72% in four years
The latest figures from the IEA Western Cape confirm that right
now it is almost impossible to make a bad investment in Cape residential
properrty, according to a Bill Rawson press release. Thirteen districts,
from the Overberg to the West Coast, were surveyed by the former
regional chairman, Bill Rawson - and in onl;y one, the Overberg,
was there a slight decline in prices over the last three years,
In all the other areas average price rises varying from 19 percent
to 102 percent were recorded. In the sectional title market, average
price rises were from 12 percent to 84 percent, the top performing
area being Cape Town's south east suburbs. Established upmarket
areas continued to move up fastest on the price scale with Constantiaberg
at 102 percent and the Atlantic seaboard 84 percent.
(©Property Professional Online)
Porter for West Cape
Anne Porter has been elected chairman of IEASA Western Cape region
and Sanjeev Boyjoonauth vice chairman. Other directors are Achmat
Abrahams, Errol King, Joy MacNab. Mark Marks, Carr Newton, John
Nurse, Penny Petersen, Bill Rawson, Iona Scholtz and Kevin Wynne.
(©Property Professional Online)
Habitat remains in vogue
In spite of tough trading conditions, Durban's five office Habitat
Group reports record inquiries for September with no impact from
the surge in interest rates on activity in higher priced suburbs.
MD Sipke Beyl says Habitat's Westville franchise continues to produce
"remarkable figures" with a record R5million turnover
in August.
(©Property Professional Online)
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Colour
in architecture
Colour is one of the most important and least understood aspects
of our environment. As more architects begin to experiment again
with the power of colour, these pages, brought to you by Corus in
conjunction with The Architects' Journal, offer a mixture of inspiration
and practical advice. It is time to enjoy colour again. And each
week we will bring you a feature from this site.
This week: Bright
and beautiful?
Britain has a surprisingly strong tradition of colourful buildings
(Note : to view the articles requires a quick registration on the
AJ site.)
(©www.aplusj.co.uk)
Calculation
and Recovery of Home/Head Office Overhead
When construction is delayed by owner-caused actions, contractors
request compensable delay. It is difficult to reach agreement on
causes and extent of delay and even tougher to agree on the cost
of delay. This is due, in part, to the lack of a single, accepted
method of calculating home office overhead. This paper explores
nine methods of calculating such damages and shows the results of
each. It also discusses the new rules developed by Federal Courts
and Boards of Contract Appeals concerning the recovery of unabsorbed
overhead.
(©www.icoste.org)
Trusts
can be traps
THE Natal High Court had recently to determine whether a taxpaying
company was liable for secondary tax (Commissioner, SA Revenue Service
v Dyefin Textiles). The firm made unsecured long-term loans to a
trust to enable the trustee to acquire shares in the company. The
loans remained unpaid at the end of the tax year, and revenue declared
the loans dividends distributed to the trust. They attracted liability
for secondary tax.
(©www.bday.co.za)
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ECONOMIC INDICATORS |
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The indicators
as on
Oct 11 2002
12:08 PM
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This week
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06/10/02
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| Rand/$ |
10.4199
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10.415
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| Rand/£ |
16.2448
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16.3026
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| Rand/€ |
10.2678
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10.1942
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| R150 |
12.260%
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12.550%
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| Gold/oz |
$316.20
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$322.00
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| Gold index |
2698.24
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2973.86
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| JSE All Share |
9119.28
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9531.48
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SA
motor sector not impressed by AA claim
Industry says it is wrong to predict a fuel price drop. Cape Town.The
Retail Motor Industry (RMI) Organisation has rejected as "outrageous
in the extreme" an assertion by the Automobile Association
(AA) that the dealer margin added to SA fuel prices is excessive.
(©www.bday.co.za)
'Oil
price won't hit Gulf war levels'
SINGAPORE - Oil prices will not reach peak level seen in the 1990-1991
Gulf War in the event of a US military campaign against Iraq, French
banking group Societe Generale (SG) says.
(©www.bday.co.za)
UIF
back in the black
The Unemployment Insurance Fund (UIF) has recovered from its financial
woes, with a current account balance of over R1-billion at the latest
count.
(©www.bday.co.za)
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JSE
down on extreme volatility
Nervousness about the mining empowerment charter and turbulence
on world markets took their toll on the JSE.
(©www.bday.co.za)
We
won't just give money
South African mining firms will not simply hand over the R100bn
they must raise to help black people enter the crucial mining sector,
AngloGold CEO Bobby Godsell has said.
(©www.news24.com)
AA
adds flame to the fuel pricing debate
The Automobile Association (AA) has set the cat among the pigeons
with a highly critical report on SA's petroleum industry and fuel
pricing system. The report is bound to cause consternation among
multinational oil companies and petrol station owners alike.
(©www.bday.co.za)
Nedcor
announces board changes
The country's biggest banking group in terms of local assets, Nedcor,
has announced some changes to its board following a restructuring
after the integration of BoE and the delisting of Nedcor Investment
Bank Holdings (NIB).
(©www.bday.co.za)
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ASAQS NEWS |
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Two free programs added in the CUG
Members to the ASAQS closed user
group can download two new programs this month.
If
you are a regular user of the Internet you are bound to get pesky
e-mails that invite you to sex sites or immediate credit facilities.
Most of the times you will find it difficult to unsubscribe from
these sites. How do they find you? The simple answer is by placing
a spy in your computer! Spyware programs are not viruses - so your
virus detection system is blind-sided by them - and can gather all
sorts of information about your Internet use and dutifully report
it back to it's master. Get rid of spyware with this useful little
program.
Zoner
Draw 3 is an ideal graphics program for a broad range of applications.
Use it to create powerful brochures and leaflets, as well as illustrations
for documents, business cards, price tags, letterheads, postcards,
signs, blueprints, greeting cards, and more. One new feature of
the product is the ability to create graphics for Internet presentations,
including vector animations.
A similar program will cost you thousands of rand. Downlaod Zoner
3 from the CUG you will be e-mailed a registration number unlocking
the program for your use and enjoyment. You can also download a
full user manual in PDF format.
Your
registration e-mail will contain a link to a download area where
you can get templates for calendars, CD-covers and free clip-art.
We believe that Zoner Draw 3 will become an irreplaceable aid in
your work.
The Zoner Draw package includes:
Zoner Draw 3 - vector graphics editor. Zoner Media Explorer
3 - multimedia files exploring tool. Zoner Viewer 3 - viewer for
graphic files.
Sample clipart gallery.
(©www.asaqs.co.za)
Shafted again by Telkom e-mail - a hoax
An e-mail doing the rounds warns readers that Telkom have introduced
a "penalty" of 77c per call if the 10 digit dialing procedure
is not followed. Your editor contacted Telkom and confirmed that
this is just another hoax.
Remember: Visit the ASAQS
website for new updates!
New members to the CUG
Lameck Mathebula
Ayodeji Akinkuolie (a new member practicing in Nigeria)
Joyce Vhulahani
Please note : Only paid-up
members of the Association of South African Quantity Surveyors are
allowed entrance to the CUG. We still receive a number of applications
every month from non-members. If you have any questions regarding
membership contact Mrs Barbara Morgan on 011-3154140
Also 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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Cannibals and Missionaries
Two cannibals meet one day...
The first cannibal says, "You know, I just can't seem
to get a tender Missionary. I've baked them, I've roasted
them, I've stewed them, I've barbecued them, I've tried every
sort of marinade. Just can't seem to get them tender."
The second cannibal asks, "What kind of Missionary do
you use?"
The reply, "You know, the ones that hang out at that
place at the bend of the river. They have those brown cloaks
with a rope around their waist and they're sort of bald on
top with a funny ring of hair on their heads."
"Ah, Ha!" the second cannibal replies, "No
wonder--those are fryers!"
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