SA's growth rate could reach 4%, research shows
Johannesburg - South Africa's economic growth could accelerate to between 3.5 percent and 4 percent over the next five years, far higher than its 2.7 percent average between 1993 and 2001, research by economic consultancy Econometrix has predicted.
(©www.busrep.co.za)

Confidence levels improve in consulting engineering industry
The South African Association of Consulting Engineers (SAACE) reported that while confidence levels of its members has shown an increase, the projected income forecast by members for the first half of 2002 is somewhat conservative.
(©www.engineeringnews.co.za)

Delayed payments to engineers worsens again
Despite repeated cautions issued by the South African Association of Consulting Engineers (Saace) over the last 12 months, its latest Management Information Survey reviewing the period from July 2001 to December 2001 has once again highlighted that payment to member firms across the board worsened during the period under review.
(©www.engineeringnews.co.za)

Black engineers critical for SA's success
While project-related issues were tackled by most speakers at the Built Environment Convention’s conference on sustainable development in May, James Ngobeni of the South African Black Technical and Allied Careers Organisation chose to speak about human resources in the context of sustainable development.
(©www.engineeringnews.co.za)

Thorough due diligence reviews essential
FLAWS in presale due diligence reports are knocking capital returns in portfolios held by many property-owning firms, says Courtwell Consulting director Jonathan Smith.
(©www.bday.co.za)

Public sector investment a huge boost
GROWING public sector investment is adding a new dimension to the property market, says Nedbank Property Finance's report, released last week. The direct effect of public sector investment on the property industry has accelerated as government tackles urban regeneration projects. The report says public sector initiatives have mitigated the effects of a gloomy global picture as a result of the September 11 attacks in the US, the Zimbabwe syndrome, the escalating conflict in the Middle East and the world economic slowdown.
(©www.bday.co.za)

Fund managers up in arms
LISTED property fund managers are angry at what they call a eurocentric approach to sector reorganisation on the JSE Securities Exchange SA, which will lump their funds with general property trading companies in a single sector.
(©www.bday.co.za)

Construction of Paarl Mall to start in August
CONSTRUCTION of the of the Paarl Mall regional shopping centre will begin in August. Tenants have already signed up for 75% of the space in this R220m phase of the project.
(©www.bday.co.za)

City set to make convention killing
Cape Town could earn R300m in next eight years from hosting conferences CAPE Town could earn more than R300m from hosting conventions and conferences in the next eight years.
(©www.bday.co.za)

Syndicate plans mall, residential units in Athlone
A SYNDICATE of Western Cape-based black empowerment companies plans to develop a R200m mixed use development anchored by a regional shopping centre in Athlone, Cape Town
(©www.bday.co.za)

Cape plc let off cost of cleaning up land
MINERALS and Energy Minister Phumzile Mlambo-Ngcuka has said that London-listed Cape plc will not have to pay the cost of cleaning up land contaminated by its former mining and milling operations.
(©www.bday.co.za)

36 asbestos claims cite Gencor as a defendant
Cape Town - Summonses on behalf of 36 former asbestos workers were issued in the Johannesburg high court yesterday against four mining companies, including Gencor, for damages amounting to R25 million for asbestos-related illnesses.
(©www.busrep.co.za)

Construction at Coega to begin in July
Pechiney yet to decide on smelter. Construction at the Coega Industrial Development Zone near Port Elizabeth is to begin at the end of July.
(©www.bday.co.za)

Coega alumnium decision expected by January
French aluminium producer Pechiney is expected to decide by January next year whether to locate its new $1,8-billion primary aluminium smelter at the proposed Coega harbour in the Eastern Cape.
(©www.engineeringnews.co.za)

Coega wants bridge to be E.Cape icon
The Coega Development Corporation (CDC) in association with the National Roads Agency has called for expressions of interest for the design of a 300 m bridge in the Eastern Cape.
The Coega River Bridge, which will act as a functional entry into the port, forms part of the develpment of a 12 000 ha Coega Industrial Development Zone (IDZ).
(©www.engineeringnews.co.za)

R2,5bn upgrade will ease container traffic
THE Port of Durban Development 2005 Project is a R2,5bn commitment by Transnet to upgrade the port's infrastructure and facilities to international standards.
(©www.bday.co.za)

Fisheries vessel could still be built in SA
It is still possible that the largest of the four fisheries and environmental protection vessels (FEPVs) being acquired by the Departmental of Environmental Affairs (DEA) could be built in Durban.
(©www.engineeringnews.co.za)

New R350m airport opens for business in September
Durban - The R350 million Kruger Mpumalanga International Airport would open its doors in September, Irvin Phenyane, the business development manager of Primkop Airport Management (PAM), said this week.
(©www.busrep.co.za)

Mondi moves to lower pollution
MONDI, Anglo American's pulp and paper business, will boost output at its Durban South paper plant by a R450m investment in new machinery
(©www.bday.co.za)

Big steel, enviro case set for Sept
A groundbreaking environmental case will be heard in South Africa's courts in September.
Twenty residents in the vicinity of Iscor's Vanderbijlpark works are claiming damages against the South African steel-maker as a result of alleged pollution of the area.While the parties to the case have agreed not to talk to the media, expert witness on behalf of the residents, industrial and petrochemical consultant Dr Philip Lloyd will be advancing critical evidence in favour of the residents' claims.
(©www.engineeringnews.co.za)

Tshwane aims for improved basic services
Mayor warns that budget is still tight THE mayor of the Tshwane metropolitan council, Father Smangaliso Mkhatshwa, yesterday delivered his budget speech indicating that only R756m out of a total budget of R5,9bn would be spent on capital projects
(©www.bday.co.za)

Investec earnings rise 28.2 percent
Johannesburg - The Investec Group has reported a growth in headline earnings for the year ended March 31 of R1684-million, up 28,2 percent over the previous year.
(©www.busrep.co.za)

Aveng unit McConnell wins R580m BHP deal 24
Pretoria - McConnell Dowell, the Australian- and New Zealand-listed construction group in which local construction group Aveng has a 63 percent interest, has won a new contract valued at about R580 million.
(©www.busrep.co.za)

M&R sets its sights on slice of Spoornet tender
ENGINEERING group Murray & Roberts (M&R) hopes to win substantial new business thanks to a plan by Spoornet to spend R1bn a year for more than a decade on upgrading SA's rolling stock.
(©www.bday.co.za)

Construction firm in empowerment move
Construction firm Basil Read has announced that it has taken a solid step towards realising its economic empowerment vision by forming BR-Ilima Projects in partnership with a consortium of emerging contractors and businessmen.
(©www.engineeringnews.co.za)

Dorbyl to grow through exports'
INDUSTRIAL and automotive component group Dorbyl had come to the end of a major internal restructuring exercise and intended to grow through exports, CE Bill Cooper said yesterday.
(©www.bday.co.za)

Barloworld could expand its portfolio
INDUSTRIAL brand management company Barloworld is to decide within weeks whether to mount an investment assault on South America, adding another continent to its global portfolio, which already includes Europe, North America, Australia, Asia and the rest of Africa.
(©www.bday.co.za)

SA steel group makes $105m acquisition
South African steel group Scaw Metals, a wholly owned subsidiary of Anglo Ferrous Metals, has acquired the Moly-Cop grinding media businesses of GS Industries for $105-million.
(©www.engineeringnews.co.za)

Alarm about summit bears fruit
The letter of alarm to funders from the body organising a massive meeting of nongovernmental organisations during the forthcoming World Summit on Sustainable Development seemed to be having the desired effect yesterday.
(©www.bday.co.za)

Taxi recapitalisation tenders may be combined
GOVERNMENT is considering combining the two main tenders in the taxi recapitalisation process to manage the process better, the transport department said yesterday.
(©www.bday.co.za)

Defence has spent R203m on consultants
Advice on arms deal cost about R23m Parliamentary Editor CAPE TOWN The defence department had spent more than R203m on consultants with about R23m on the strategic defence packages during the past two years, Defence Minister Mosiuoa Lekota said
(©www.bday.co.za)

SA construction subsidiary in R580m Oz contracts
Construction group Aveng has announced that its Australian company, McConnell Dowell Corporation has been awarded new contracts with a value of about R580-million. Aveng holds an interest of 63% in the Australian and New Zealand listed construction group.
(©www.engineeringnews.co.za)

Australian steel group's prospects debated
Analysts are divided over the prospects of BHP Steel, which is being spun off from its parent BHP Billiton, with an attractive dividend yield matched against increasing commoditisation of its products.
“I think it would be quite sought by retail investors who tend to be more income-orientated,” Daiwa senior analyst Mark Pervan said.
(©www.engineeringnews.co.za)

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Developers and not contractors are to be responsible for safety
Although construction ranks as one of the poorer performers in occupational health and safety in South Africa, industry-driven initiatives have seen a significant improvement over the last few years.
(©www.engineeringnews.co.za)

Going commercial is the cure
An injection of commerciality from Investec Property Group has turned Melrose Arch into a letting success after less than a year. Its shops are full; 86% of its office space is let; and Investec says tenants are negotiating to take most of the rest.
(©www.fm.co.za)

Investors are selective shoppers
Some retail property investors have moved to the sidelines, waiting for the economy to sort itself out; others have remained active, but become much more selective about their acquisitions. While capital is seeking product types that represent stable, low-risk investments, sellers, in general, have displayed more of a wait-and-see attitude.
(©www.industryclick.com)

Marketing a renovation
How do you make a bulldozer fashionable? That's a real marketing challenge I faced at SouthPark mall (where I work as marketing director) as we began a multi-year expansion and renovation project to include major department stores, specialty shops, even a symphony orchestra band shell.
(©www.industryclick.com)

Value retail finds a new outlet
European consumers have embraced the opportunity to shop for brand-name merchandise at bargain prices. This rapidly expanding market is providing enormous opportunities for operators, brand manufacturers and retailers alike. Today, the continent is following in the footsteps of the United Kingdom, where factory outlets have gotten off to a very successful start.
(©www.industryclick.com)

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Raising of housing subsidies may not be enough
Absence of big names in the sector raises concern over the pace and quality of housing delivery. Big players in the construction industry, which found the low-cost housing market lacked profitability, might not be back despite increases of up to 57% in government subsidies to make substantial inroads into SA's housing backlog.
(©www.bday.co.za)

Low-income housing project for Witbank
THE National Housing Finance Corporation is financing a R260m low- income rental housing project in Witbank, Mpumalanga.
(©www.bday.co.za)

Western Cape to mount a concerted housing drive
Western Cape government plans to mobilise resources at national, provincial and local level to deal with its housing backlog estimated at 300 000 units.
(©www.bday.co.za)

Millions in SA live in squalor'
An estimated 4,6million South Africans live in squatter camps, of whom 2,8million require running water and an overwhelming majority, about 4,1-million, require sanitation services, according to Water Affairs and Forestry Minister Ronnie Kasrils.
(©www.bday.co.za)

US farm bill will take its toll on African economies
The US farm bill proposing a six-year package of farm aid that would raise agricultural subsidies to $189 billion was passed into law earlier this month. Although not expected to have much of an immediate market impact, this will be an important influence on the prospects for African economies in the longer term.
(©www.busrep.co.za)

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IDC to lead rail rehabilitation drive in Beira
The Industrial Development Corporation (IDC) will be the project facilitator in rehabilitating the Sena railway line from the Beira port to the Moatize coal field in the Tete province in northern Mozambique.
(©www.bday.co.za)

Search for additional Kudu gas hits a low
Namibia – Oil and gas company Shell International, which is leading the search to develop the natural gas reserves in the Kudu gas fields, off Namibia’s Atlantic Coast, has said the results of the first appraisal have not met its expectations in terms of reserve additions and will, therefore, delay an immediate commitment to a liquefied natural gas (LNG) scheme, which would require significant gas reserves.
(©www.engineeringnews.co.za)

Malawi enters the oil-exploration dash
Malawi – The Malawi government has set up a firm to engage in the exploration of crude oil in the country.
(©www.engineeringnews.co.za)

Six MDC activists charged under new Zimbabwean law
Sapa-AP HARARE Police charged six opposition activists yesterday on allegations that they plotted against the government, their lawyer said.
(©www.bday.co.za)

Nigeria short-lists 25 firms to set up private refineries
Abuja Correspondent TWENTY-five private firms which applied for licences to set up private refineries in Nigeria have been short-listed, boosting government's plan to deregulate the petroleum industry.
(©www.bday.co.za)

Zimbabwe maize output shrinks
Harare - Zimbabwe would probably reap its smallest maize crop in a decade because of land seizures and controlled prices, the Zimbabwe Grain Producers' Association said yesterday
(©www.busrep.co.za)

Ski resort to boost Lesotho's tourism
Maseru - Landlocked Lesotho would open its first ski resort in June, marking efforts to develop its economy and become less dependent on South Africa, which surrounds the mountain kingdom, it emerged yesterday.
(©www.busrep.co.za)

Mugabe's policy sends 700 firms into oblivion
Harare - At least 700 companies had shut down in the last 18 months because of Zimbabwe's debilitating economic crisis, leaving 90 000 workers jobless, according to a report by Amani Trust, the country's main private social welfare organisation.
(©www.busrep.co.za)

Zambia invites tenders, issues guidelines for Zanaco sale
Luasaka - Zambia on Thursday invited investors to purchase a 51 percent stake in financially troubled state Zambia National Commercial Bank (Zanaco) and issued stringent guidelines for the sale.
(©www.busrep.co.za)

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Scaw Metal buys Moly-Cop
SCAW Metal has bought Moly-Cop, a maker of grinding material for the mining industry, as the Anglo American subsidiary moves to build up its grinding business.
(©www.bday.co.za)

Anglo calls consultants to cut costs
Johannesburg - Anglo American has hired consultants to assess costs at its gold and platinum affiliates, as the world's second-biggest mining company looks to match savings made by bigger rival BHP Billiton.
(©www.busrep.co.za)

Lonplat seems reluctant to merge with Implats
Johannesburg - Lonmin Platinum (Lonplat), the arm of the London-listed mining company, yesterday appeared reluctant to merge with Impala Platinum (Implats) despite constant overtures from the local firm.
(©www.busrep.co.za)

Change of fortune for miners
London - There were reversals in several mining stocks yesterday, following advances in gold counters earlier this week. Underlying Anglo American, AngloGold and GoldFields shares were all down by more than 2 percent on a weaker bullion price, which fell to $315 an ounce during the day. But by evening the gold price had risen back to $317.15 an ounce.
(©www.busrep.co.za)

Harmony and NUM are still deadlocked
ZamJohannesburg - The stalemate between Harmony's Randfontein gold mine and the National Union of Mineworkers (NUM) will continue today, with management saying there is no intention to meet again to resolve a week-long strike.
(©www.busrep.co.za)

Canadian firm to begin Titanium mining operations in Kenya
Mombasa, Kenya - Canadian mining company, Tiomin Resources, is to start mining operations in three months at its titanium concessions on the Kenyan coast, said a top official on Thursday.
(©www.busrep.co.za)

State gem miner seeks to reinstate 280 workers
More than 280 retrenched workers at State-owned marine miner Alexkor could be reinstated through new projects launched by the diamond-miner.
(©www.miningweekly.co.za)

Platinum No 3 meets expectations
The world’s third-largest listed platinum miner, Lonmin, reported half-year pre-tax profits down 45% yesterday, in line with forecasts as a lower platinum price outweighed increased production.
(©www.miningweekly.co.za)

Marine-gem miner to follow up on Namibian prospect
Canadian-listed marine diamond explorer Afri-Can Marine Minerals has announced that it is to undertake follow-up sampling work at its Block J prospect off the Namibian coast, where a reconnaissance sampling programme in December produced favourable results.
(©www.miningweekly.co.za)

Charter to change mining sector ownership face
In what is probably the strongest statement by government on black ownership in the mining sector to date, Minerals and Energy Minister Phumzile Mlambo-Ngcuka said in her Budget Vote on Tuesday that government would not compromise with, among other things, a significant change in ownership profile of the industry, in the drafting of new legislation.
(©www.miningweekly.co.za)

$60-million uranium plan on the cards for Malawi
MALAWI – Australian resources group Paladin is at an advanced stage in pursuing its plans to start a $60-million uranium mining project in Malawi's northern district of Karonga.
(©www.miningweekly.co.za)

Financial system seeks mining niche
Financial planning system supplier Equity Value Consulting (EVC) is targeting the local and international mining sector with its product based on Alcar software, following wide-scale implementation of its software at the world’s largest platinum produce, reports EVC MD Jack Kollataj.
(©www.miningweekly.co.za)

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New Magaliesberg estate launched
A CONSORTIUM of investors led by Raymond Shapiro well known for luxury residential estates last week launched a R700m development called Xanadu Eco Park Residential Estate at the foot of the Magaliesberg, near Hartbeespoort Dam.
(©www.bday.co.za)

Young buyers go for safety
They are young, rich and piling into gated communities in their thousands. They are a phenomenon of urban life and probably the fastest-growing residential sector in the world.
(©www.fm.co.za)

Good value in Kleinkrantz
Kleinkrantz, a former 'coloured' area alongside Wilderness on the Cape south coast, has been re-cast as a highly-desirable investment node - and is attracting buyers from all over South Africa and the world.
(©www.property24.co.za)

Meet the new Movers and Shakers
This year's real estate Movers and Shakers awards illustrate once again that company or agency size has no bearing on the ability to be a good 'ambassador' for the real estate industry.
(©www.property24.co.za)

Security in gated communities
Security and personal safety are always hot topics in cluster and other gated communities - and can become a major headache for homeowners' associations (HOAs) unless they establish a clear security policy and equipment maintenance plan.
(©www.property24.co.za)

New tourism plan good for real estate
A new government incentive scheme for tourism development is also excellent news for the real estate industry.
(©www.property24.co.za)

Home loan rates: To fix or not?
The premium charged on fixed rate home loans has shrunk from 2 percent above prime in January to between 0,3 and 1,5 percent above prime-but homeowners should still think twice before opting to peg their rate.
(©www.property24.co.za)

Clusters shine in Fourways
New home buyers in Sandton have shifted their focus to suburbs north of the city's bustling CBD and demand is particularly strong in the Fourways node-where the average home price now stands at around R650 000.
(©www.property24.co.za)

No deposit? Don't despair
Many potential buyers can well afford the monthly mortgage payments on the homes they want, but find it difficult to raise the deposit that lenders are increasingly anxious to see before approving a home loan.
(©www.property24.co.za)

DealTrak Lite for Realty 1 Elk agents
As the technology uptake in South Africa's real estate industry speeds up, more and more agencies are looking specifically for software products that will give them a competitive edge.
(©www.property24.co.za)

And the nominees are…
The Property Professional Club has announced the finalists for its Property Professional of the Year award, to be made in Cape Town on 1 June.
(©www.property24.co.za)

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Property funds, a chance to score
Investors could get capital gain, a sector rerating, and income, says Ian Fife . . .
(©www.fm.co.za)

The city as we wish it
Post-industrial urban centres have influenced Melrose Arch, a mixed-use development that designers and architects, never mind property developers, are talking about . . .
(©www.fm.co.za)

Piggyback investors make more money
If you want to make money, do not develop a golf estate or large gated community. A big clue to why is that Johnnic (Dainfern, Steenberg and Atlantic Beach) and Anglo American (Silver Lakes) are no longer in property.
(©www.fm.co.za)

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Closing prices:
BUILDING, CONSTRUCTION AND ENGINEERING

Aggression the name of the global trade game, says Erwin
Cape Town - The country's trade performance had been "little short of stunning" but it needed to become even more aggressive in capturing global market share in manufacturing, Alec Erwin, the minister of trade and industry, said this week.
(©www.busrep.co.za)

Now's the time to be buying rather than selling businesses
In a market characterised by a sharply reduced institutional appetite for funding, particularly for mid-sized companies and small-cap stocks, more companies are struggling to raise the funds they require to compete effectively.
(©www.busrep.co.za)

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Producer inflation rises to 14.8 percent
Pretoria - Year-on-year producer price inflation rose to 14,8 percent last month compared to 14,1 percent in March, Statistics SA reported on Wednesday.
(©www.busrep.co.za)

CPIX surges to 8,8 percent
Pretoria - Year-on-year inflation excluding mortgage bond rates surged to 8,8 percent last month from eight percent in March, Statistics SA reported on Tuesday.
(©www.busrep.co.za)

Gold's price rocket is just taking off - Thompson
Johannesburg - All the ingredients necessary for a higher gold price were in play, Chris Thompson, the chairman of the World Gold Council and chief executive of Gold Fields, said yesterday.
(©www.busrep.co.za)

Rising inflation no cause for panic - Absa
Rising inflation, most notably food price inflation, has become a serious cause for concern in recent months, especially because food price inflation impacts hardest on the poor. We do not believe that there is a cause for panic. However, some important lessons must be learnt with regard to the importance of the rand for inflation.
(©www.busrep.co.za)

Levels of life...
Life is a series of levels, or steps, that lead to many different paths. Each step allows us the security and knowledge necessary to take on the next big step to bring us fulfillment on our path toward our vision. In his article, Levels of Life... Edward Toupin discusses Abraham Maslow's hierarchy of needs.
(©www.projectmagazine.com)

Help! There's an Intruder in my Computer
Computer security is a concern for any business person using an Internet enabled computer. It's not only viruses we have to worry about. Do you know that hackers across the globe can take control of your home computer via your Internet connection?
June Campbell discusses how they do it and what you can do to stop them in her article Help! There's an Intruder in my Computer
(©www.projectmagazine.com)

Spotted on the ASAQS website:
The largest collection of on-line financial calculators in South Africa!
Compute transfer costs, a Risk Profiler, Company Car Tax Calculator and a lot more. Browse there now!

Remember: Visit the ASAQS website for new updates!

New members to the CUG
A warm word of welcome to the following members who have joined us in the CUG during the past week:

Names to be announced next week

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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