The high-rise trend returns
A PARTNERSHIP between property groups Renprop, Devcon and Vlaming Projects is to deliver an up-market, high-rise residential development in Morningside, Sandton.
(©www.bday.co.za)

Hot Summit Harvest
For government and Sandton's property owners, the R70m or so they jointly spent on upgrading the city for the World Summit on Sustainable Development last year was peanuts. But it has been enormously profitable.
(©www.fm.co.za)

Focus is on keeping tenants happy
It is essential to maximise earnings from each property. ACTIVE property asset management is becoming increasingly important in the drive to achieve good investment performance.
(©www.bday.co.za)

Old Mutual opens its new R116m business campus
Cape Town - Old Mutual has opened its new R116 million Old Mutual Business School campus, one of Africa's first corporate universities, along with new offices for Old Mutual Asset Managers.
(©www.busrep.co.za)

Construction work at R1.4bn Suncoast Casino nears end
Durban - Construction of phase two of Tsogo Sun's R1.4 billion Suncoast Casino was going full steam ahead and would be completed by June, Jabu Mabuza, Tsogo Sun's chief executive, said yesterday.
(©www.busrep.co.za)

Concor confident it will help build Coega smelter
CONSTRUCTION firm Concor expects to be awarded work on the world's most advanced aluminium smelter if French firm Pechiney gives the green light for the plant to be built at Coega.
(©www.bday.co.za)

Sasol, Group Five launch empowerment engineering company
Johannesburg - Sasol and Group Five on Wednesday announced that their manufacturing business, DPI Plastics (Pty) Ltd, had established one of the leading black empowerment engineering merchant companies in South Africa.
(©www.busrep.co.za)

Petrochemicals giant stays firm on 25% black equity
Johannesburg - Petrochemicals group Sasol remained committed to an empowerment charter to ensure that at least 25 percent of its liquid fuels business, which was worth between R8 billion and R10 billion, would be owned by an empowerment firm by 2010, Pat Davies, an executive director of Sasol, said yesterday.
(©www.busrep.co.za)

Midgley to chair Coega monitoring committee
THE R2,6bn construction of the deepwater port at Coega took another step forward with the appointment of Rob Midgley to chair the environmental monitoring committee.
(©www.bday.co.za)

Durban port concessioning architecture soon
Speaking during a parliamentary media briefing yesterday, Public Enterprises Minister Jeff Radebe reported that “concession architecture” for the Durban Container Terminal (DCT) in Kwazulu-Natal is in its final stage of development and will be discussed by Cabinet soon.
(©www.engineeringnews.co.za)

Basil Read’s profit surges
South African Construction group, Basil Read, this week announced strong financial results for the year ended December 31, 2002, with a 197% increase in net asset value (NAV) to 106,15 cents, a 183% rise in earnings per share (EPS) to 21,11 cents, an improvement of 168% in operating profit and a 204% boost in cash generated by operations.
(©www.engineeringnews.co.za)

Road-building gives a boost to Basil Read turnaround
CONSTRUCTION group Basil Read turned around a disappointing 2001 performance to produce an operating profit that was R21,1m higher in results for the year to December.
(©www.bday.co.za)

Billion-rand turnover recorded
The roads and earthworks division of WBHO is engaged in several of the country’s major road contracts, and reports a turnover of more than a billion rands for the past year.
(©www.engineeringnews.co.za)

Tongaat-Hulett's earnings plunge due to stronger rand
DURBAN Tongaat-Hulett's headline earnings a share crumbled 36% to 388,1c in the year to December, as the stronger rand slashed the valuation on its 42m offshore reserves to an unrealised translation loss of R151m.
(©www.bday.co.za)

International airport set to boost Mpumalanga's appeal
Major catalyst for luring visitors to Lowveld attractions. A NEW international airport in Mpumalanga is set to boost the province's tourism and conferencing industries.
(©www.bday.co.za)

Diversity turns out to be a bonus
THE decision to diversify investment into listed property securities by property loan stock company Growthpoint seems to be paying off with the group reaping a 9,2% or R60,5m capital appreciation in three months from these investments.
(©www.bday.co.za)

MidCity's portfolio hits R4bn
TILCA, the company that evolved out of the building services division of Telkom, has made inroads into the business of managing property. In its latest move and through its Pretoria-based subsidiary, MidCity, Tilca acquired Yellow Button, the property management business of listed property group Jigsaw Holdings.
(©www.bday.co.za)

Profit warning drops clue
LYONS Financial Solutions' explanation of its profit warning issued last week provided a clue to the unexpected departure last year of the group's former CEO, Garry Fromentin.
(©www.bday.co.za)

Register of projects could generate huge steel sales
THE steel construction industry has compiled a register of capital projects worth R160bn over the next three years, which could generate about R50bn worth of structural steel sales.
(©www.bday.co.za)

Pros and cons of outsourcing
OUTSOURCING is a trend that continues to gather momentum in the property management arena beyond its initial focus on "soft" services. Many companies believe that outsourcing non-core activities allows them to concentrate on their core business and to look at ways of expanding and improving efficiencies to make them more competitive in their area of expertise.
(©www.bday.co.za)

Selling off the roof over their heads
THE outsourcing of property, rather than the outsourcing of property management services, could gain an increasing foothold in SA corporate life in the next few years, according to some market analysts.
(©www.bday.co.za)

London-listed groups to open offices in Cape Town
UP TO 250 new jobs look set to be created in Cape Town with two London-listed software houses planning to open a joint development office in SA. The companies, London Bridge Software and AFA Software, both develop financial services software.
(©www.bday.co.za)

African science needs a forum, say experts
SCIENCE policy experts and government officials from across the African continent yesterday wrapped up a three day workshop on the role of science and technology within the New Partnership for Africa's Development (Nepad) by recommending that a special forum be established within Nepad to push science and technology up the political agenda.
(©www.bday.co.za)

Boost for new entrepreneurs
BUDDING entrepreneurs are being given a firm footing on the business ladder through the creation of manufacturing hubs at redundant factories or premises.
(©www.bday.co.za)

Empowerment not just for black elite
THE debate on black economic empowerment is peculiar. Everyone from the businesspeople in the Black Economic Empowerment Commission to the African National Congress national conference and the president agrees that it should empower the majority.
(©www.bday.co.za)

Opportunities for specialist empowerment offerings
MARKET conditions and consolidation in the asset management industry opened opportunities for their specialist empowerment offerings, says Paul Rackstraw, MD of Futuregrowth Asset Management.
(©www.bday.co.za)

Corruption not as bad as it appears'
But graft is still on the increase. CAPE TOWN An assessment of corruption in the country showed that perceptions of the phenomenon were worse than the reality, with 62% of businesses believing that corruption had become accepted business practice, Public Service and Administration Minister Geraldine FraserMoleketi said yesterday.
(©www.bday.co.za)

Western Cape procurement plan nears preferential target
CAPE TOWN The Western Cape government awarded R328m in contracts to "historically disadvantaged" people last year, Finance MEC Ebrahim Rasool said yesterday.
(©www.bday.co.za)

Western Cape moves to root out fronting firms
Cape Town - The Western Cape provincial government was in the process of compiling a database of suppliers of goods and services to root out "fronting" by companies seeking to tender for preferential procurement policies, MEC for finance and economic affairs Ebrahim Rasool said yesterday.
(©www.busrep.co.za)

Cape Town waterfront apartments snapped up
With the Mother City’s fast-growing reputation as a playground for the rich and famous, the R1,5-billion Victoria & Alfred (V&A) Marina Residential development has become the “sought-after property of distinction among connoisseurs of style”, states Stocks Building Western Cape contract manager Mauro Donato.
(©www.engineeringnews.co.za)

Steam may offer green-power option to Cape
The Southern Cape Fold Mountains hold subterranean reservoirs of superheated water that could be a source of cheap ‘green’ energy.
(©www.engineeringnews.co.za)

N3 toll road tender documents to be studied
Durban - The department of transport has requested that all N3 toll road tender documents be forwarded to it amid allegations that former transport minister Mac Maharaj may have accepted gifts to influence the outcome of the tender.
(©www.busrep.co.za)

Richards Bay power station to supply uMhlatuze
Durban - The proposed R2.5 billion power station at Richards Bay, the first privately funded greenfields power station in the country, could supply the total needs of the uMhlatuze municipality and minimise power dips causing major industry shut downs.
(©www.busrep.co.za)

Enviro approval crucial for R310m optical-fibre investment
A joint-venture company led by the US’s FiberCore Incorporated (FCI) is to start construction of a R310-million optical-fibre factory in Somerset West, near Cape Town, by the third quarter of 2003, with completion and hot commissioning scheduled for mid-2004.
(©www.engineeringnews.co.za)

SA bids to be core site for radio-telescope project
South Africa is to launch a bid to become the core site for the biggest and most expensive radio telescope ever built, the Square Kilometre Array (SKA).
(©www.engineeringnews.co.za)

Minister outlines housing renewal strategy
Housing minister Sankie-Mthembi-Mahanyele says the redevelopment of hostels and the relocation and resettlement of households from unsafe and badly situated locations constitute a significant part of government’s renewal strategy.
(©www.engineeringnews.co.za)

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Food prices are higher in poor areas
Johannesburg - Conversations about the cost of food make Soweto resident Margaret Moloto very angry.
(©www.busrep.co.za)

Shoprite withstands rising food inflation
Cape Town - Despite big swings in the retail market due to high food inflation, which made trading tough, Shoprite Holdings' performance in South Africa in the six months to December was up to scratch, executives said this week. (©www.busrep.co.za)

Sky's the limit for exporters of car parts, says BMW
Johannesburg - South Africa's automotive industry had scope to extend its remarkable growth into the export market, BMW South Africa's managing director, Ian Roberts, said yesterday.
(©www.busrep.co.za)

Basson to deliver a trolley full of goodies to Shoprite investors
This week the first set of financial results from major retailing company Shoprite Holdings will be released, and shareholders are not likely to be disappointed.
(©www.busrep.co.za)

Woolworths arm Down Under treads bumpy path
COUNTRY Road, Woolworths Holdings' Australian subsidiary, is turning out to be a far longer and tortuous route than the group expected when it paid R400-500m for it five years ago.
(©www.bday.co.za)

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OBITUARY
IAN ALEXANDER MACGREGOR
It is with the deepest sadness that SAFCEC has to advise that Ian Macgregor, our KwaZulu-Natal Branch Manager, passed away in the early hours of 20 February 2003 after a short illness.
(©www.safcec.org.za)

COURSE ON THE “NEW” FIDIC CONTRACTS
SAFCEC will present a one-day course on the “new” FIDIC Contracts in Bedfordview on Wednesday, 12 March 2003.
(©www.safcec.org.za)

PROMOTION OF ACCESS TO INFORMATION ACT, 2000
The Promotion of Access to Information Act requires all public and private bodies to compile manuals.
(©www.safcec.org.za)

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Bank's governors review move from Côte d'Ivoire
ACCRA Top officials of the Abidjanbased African Development Bank held talks yesterday to review a decision to temporarily relocate to Tunis because of civil war in Côte d'Ivoire.
(©www.bday.co.za)

Spotlight on: Zambia
A buoyant property market is rapidly taking shape in Zambia, catalysed by a major sell-off of Government property and the provision of housing finance to private investors.
(©www.property24.co.za)

Malawi bars forum's demonstrations
Protestors are opposing President Bakili Muluzi's attempt to stand for a third term of office BLANTYRE Malawi's government barred demonstrations planned for yesterday in protest against President Bakili Muluzi's bid to stand for a third term of offic...
(©www.bday.co.za)

Mugabe set for Europe as sanctions noose loosens
CAPE TOWN President Thabo Mbeki yesterday confirmed his opposition to prolonging Commonwealth sanctions on Zimbabwe as President Robert Mugabe prepared to savour a major diplomatic coup later this week.
(©www.bday.co.za)

Nigerian oil workers suspend strike
Lagos - Nigerian public sector oil workers have suspended a five-day-old strike which had threatened exports from Africa's largest oil producer, union officials said Friday.
(©www.busrep.co.za)

Shoprite lists in Zambia today
Cape Town - Confirming talk last July that Shoprite would list in Zambia, the food retailer said yesterday it would float 2.7 million shares at 4 200 kwacha (R6.91) a share on the Lusaka stock exchange today.
(©www.busrep.co.za)

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Avgold is to sell ETC gold mine for R300m
MID-TIER diversified resources company Metorex and Cyril Ramaphosa's MCI Resources and other partners are to buy the ETC gold mine in Mpumalanga for R300m from Avgold.
(©www.bday.co.za)

South Deep eager to start phase two
THE South Deep mine, a fifty-fifty joint venture between Placer Dome and Western Areas, will be commissioned later this year, and already the company is looking into a second phase of development.
(©www.bday.co.za)

Anglo has to delay its iron ore plans
Johannesburg - Anglo American's appeal to bar the Industrial Development Corporation (IDC) from being able to intervene in Anglo's desire to buy up more iron ore assets in South Africa was put on ice with the Competition Appeal Court on Friday reserving judgment.
(©www.busrep.co.za)

Platinum boom spills over to fan supplier
Due to increased activity on the platinum-mines, developing company Air Blow Fans has supplied several large centrifugal fans to this mining sector.
(©www.engineeringnews.co.za)

Investors welcome mining charter scorecard
Cape Town - International investors in the mining industry, while pleased at the release of the mining charter scorecard this week, remained sceptical over outstanding associated legislation and the implementation of the new laws.
(©www.busrep.co.za)

New mining laws will target beneficiation
Cape Town - The mining industry could expect more new mining laws in the form of the Precious Metals Act, a set of regulations governing beneficiation in the industry, it was told yesterday.
(©www.busrep.co.za)

DRC opens doors for cobalt, copper mining project
Johannesburg - The Industrial Development Corporation (IDC) and International Finance Corporation (IFC) have been granted the option to each acquire up to 10 percent of a $334 million cobalt and copper mining project in the Democratic Republic of Congo (DRC).
(©www.busrep.co.za)

State will warehouse mine shares to prevent ‘equity spinning’
South Africa said yesterday that if new black equity partners in mining companies sold their shares, the government would step in to buy and ‘warehouse’ them to prevent firms losing their licence.
(©www.miningweekly.co.za)

Metorex optimistic of coal export breakthrough
A breakthrough in negotiations about the export allocation of a million tons of coal from the Richards Bay Coal Terminal may occur soon, revealed Metrorex executive chairperson Simon Malone at the company’s quarterly results this week.
(©www.miningweekly.co.za)

Skorpion zinc project on schedule
Low global zinc prices will not delay the commissioning of Anglo American's $454-million Skorpion Zinc project at Rosh Phinah in southern Namibia, an Anglo executive said this week.
(©www.miningweekly.co.za)

Mining companies welcome empowerment scorecard
Three South African mining giants have come out in support of the country’s scorecard, designed to monitor the implementation of the Broad-based Socio-Economic Empowerment Charter that was released late last year.
(©www.miningweekly.co.za)

Venetia debottlenecking has 10-day payback
Diamond giant De Beers’ Venetia opencast mine, in the Limpopo Province, is gearing up to increase its 2002 production levels from 4,6-million tons to 5,2-million tons this year, and to 6-million tons in 2004.
(©www.miningweekly.co.za)

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Different strokes for different age folks
Despite changing work patterns and the increased flexibility provided by computer-driven communications, age still plays an important role in determining where home buyers will choose to live - and where new developments will succeed.
(©www.property24.co.za)

New immigration rules set aside
New immigration regulations made in terms of the Immigration Act promulgated last year will now not be implemented in March as scheduled, following a successful legal challenge in the Cape High Court.
(©www.property24.co.za)

Durban's foreshore draws investors
The opening of the new casino near Durban's North Beach late last year and the start of construction work on the uShaka Island theme park and aquarium in the city's Point district has investors flocking back into residential property in the foreshore area.
(©www.property24.co.za)

Property24 boosts home sales
Estate agencies advertising their for-sale listings on Property24 have sold homes worth a total of more than R12-billion in the past year, despite the decline in demand for residential property occasioned by four successive interest rate increases and rocketing inflation.
(©www.property24.co.za)

Tip of the week
Avoid paying occupational rent for longer than necessary by settling transfer duties timeously, which will ensure the bond gets registered quicker.
(©www.property24.co.za)

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Defects
Defective work can be described as work which fails to comply with the express descriptions or requirements of the contract, including very importantly any drawings or specifications, together with any implied terms as to its quality, workmanship, performance or design. By definition, therefore, defects are breaches of contract by the contractor. This report also looks at:
Employer's Remedies for Defects
Liability Periods
Legal Cases
Limitation of Right of Abatement
Limitation of Liability
Abatement of Price
Consequential Loss - Limitation of Liability
(©www.surveyorplus.co.uk)

Contractor's Professional Liability Coverage
...provides valuable information for any design professional or firm seeking to gain greater knowledge and information of the risk management concerns that apply to a design/build project led by a construction firm.
(©www.aepronet.org)

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Rand moves below key R8.18 level
A rampant local unit continues to clock up gains against major currencies, powering to a 19-month best level of R8.1578 to the dollar
(©www.bday.co.za)

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Mettle minorities may get 43c/s
Hosken Consolidated Investments Limited may offer around 43c per share to minority shareholders of listed niche financial services group Mettle, although the exact offer price has not yet been determined. (©www.news24.com)

Prudent Budget 2003 seen
Finance Minister Trevor Manuel is expected to stick to prudent fiscal policies in his Budget 2003/2004 next week, but also spend more to help South Africa's millions of poor people.
(©www.news24.com)

Boost for black empowerment
The fact that a majority black-owned company is actively involved in the construction of three fishery and environmental protection vessels is a success story for black economic empowerment, says Environmental Affairs and Tourism Minister Valli Moosa.
(©www.news24.com)

EXECUTIVE DIRECTOR
of the Association of South African Quantity Surveyors

The ASAQS is seeking a suitably qualified person to fill the above position in the Midrand office as soon as possible. The ideal candidate should either be a Quantity Surveyor or have a good knowledge of the quantity surveying and construction industry, and able to create and maintain a high profile within the construction industry.

The successful candidate must possess:
· Excellent interpersonal, communication & leadership skills
· An aptitude for administration and proven track record in business
· A confident, pro-active and innovative attitude
· Good organising and computer skills

Primary Functions
· Promote Q.S. as a profession both nationally & internationally
· Administrate the EduTech Centre
· Co-ordinate all the meetings of the Association and related bodies
· Day-to-day management of all the affairs of the Association
· Liaise with Government / role players within the industry

Interested parties should contact: Rene van Coller at 012-6638317 or email their CV through to: rene@itdirectory.co.za Applications close on 28/02/03

REGISTRAR
of the South African Association for the Quantity Surveying Profession

The Council is urgently seeking for an assertive person who has the ability to influence other professional and statutory bodies, as well as construction industry stakeholders. Preference will be given to a candidate who has a background either in the quantity surveying profession or the broader construction industry.

The successful candidate must possess:
· Excellent interpersonal and communication skills
· Good administration, writing and business skills
· Good planning and organising skills

Primary Functions:
· Arrange and co-ordinate all Council and Committee meetings
· Administrate the Act for the Quantity Surveyors Profession
· Day-to-day management of all the affairs of the Council
· Liaise with the Council for the Built Environment and other professional councils

Interested parties should contact: Rene van Coller at 012-6638317
or email their CV through to: rene@itdirectory.co.za
Applications close on 28/02/03

JOIN US FOR THE 2003 JOHANNESBURG GOLF DAY
VENUE: Wanderers Golf Club
DATE: Tuesday 25 February 2003
COMPETITION: Four-ball Alliance 2 to count
COST: R600 per four-ball
Click here to download the entry form

Seen on Classifieds:
EDGECOMBE & HAYES-HILL QUANTITY SURVEYORS
We require qualified and experienced Quantity Surveyors for our Durban Office.Applicants must be self-motivated and able to work with a minimum of supervision, have initiative and experience in computers.The firm offers an appropriate remuneration package and excellent opportunities.
Applicants should respond in writing with CV by fax or email to :Mr Ian Hayes-Hill at 031 312 4583 or ianhill@iafrica.com

Remember: Visit the ASAQS website for new updates!

We currently have more than 900 access accounts to the CUG!
New members to the CUG

Hrman Schoeman
Dries Willemse

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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