Promoter hopeful about centre despite oversupply
ONLY the daring would commission a R1,6bn commercial property development in a market that shows strong signs of oversupply. This was the general reaction within the property sector to last week's announcement of a proposed new science and technology centre in Centurion, on the outskirts of Pretoria.
( ©www.bday.co.za )

Howden issues profit warning
THE price of shares in Howden Africa, an engineering company, fell 4,21% to 91c yesterday, in the wake of a warning that current earnings are below expectations and that the company will cease to pay unrealistically inflated dividends.
( ©www.bday.co.za )

High court rules in Octodec case
THE management of property loan stock company Octodec has escaped a charge of breach of corporate governance led by a portion of its unitholders. The Pretoria High Court dismissed an application earlier this month for urgent interim relief claimed by Octodec unitholders against a special resolution adopted by the company.
( ©www.bday.co.za )

New venture suitable for small investor
SECTIONAL title schemes that have proved so popular in residential property are increasingly being extended to the commercial sector giving smaller investors the chance to own A-grade offices. A joint venture by property developer Bryprop and Barrow Properties will boost this trend, with two 3100m² office blocks in the Pinewood office park at Woodmead, north of Johannesburg.
( ©www.bday.co.za )

Merger of US gold producers is welcomed
SA PRODUCERS welcomed the proposed merger announced yesterday between North American gold miners Barrick Gold and Homestake Mining. AngloGold spokesman Steve Lenahan said the industry had been calling for consolidation, so consolidation on such a large scale was important to ensure long-term industry viability.
( ©www.bday.co.za )

BoE backs out of plan to buy Monex
PROPERTY and leisure group Monex has resorted to a desperate measure R220m rights offer after BoE backed out yesterday of its plan to buy out the minorities in the group. The announcement of the rights offer and BoE's retreat yesterday cast a pall over the future prospects of the heavily indebted Monex.
( ©www.bday.co.za )

New railway lines
THE development of a multitude of new light commuter railway lines around SA is on the cards to ease peak-hour rail traffic in congested areas such as between Soweto and Johannesburg. The proposal signals the start of a new strategy to restructure SA's ailing commuter rail network.
( ©www.bday.co.za )

Moz rail-line rehab delayed
Rehabilitation of the 225 km Limpopo rail line linking Maputo with Macarretane, in southern Mozambique, has been delayed due to the decision by rail-line owner Portos e Caminhos de Ferro de Mozambique (CFM) and the US Agency for International Development (USAid) to extend the tender process for the construction contract, which it is funding to the tune of $30-million, reports De Leuw Cather chief designer Terry Devine.
( ©www.engineeringnews.co.za )

Kimberley is boosted by Sedibeng project
KIMBERLEY The mining town of Kimberley received a boost on Friday with the official opening of the Sedibeng Mining Project, an empowerment venture of smallscale miners focused on reworking mines in the area. The project is similar to Dumpco, De Beers' first smallscale empowerment venture.
( ©www.bday.co.za )

New high-voltage test facility
The new high-voltage test facility at Rotek Engineering's premises at Rosherville, in Johannesburg, has resulted in significant cost reductions for organisations relying on the Eskom Enterprises subsidiary for the repair and maintenance of their transformers.
( ©www.engineeringnews.co.za )

2002 start for heritage museum
Construction of the interpretation centre at the cradle of humankind world heritage site (COHWHS), straddling Gauteng and the North West Province, will start early next year, with tenders possibly going out towards the end of 2002.
( ©www.engineeringnews.co.za )

New contractor for Kei Cutting road project
Johannesburg-based contractor Black Top Surface has been appointed to complete the R46-million Kei Cutting road-improvement project in the Eastern Cape, following the termination of the original contract with the troubled consortium comprising Growcon, Du-Rite and Labor Construction (GDL).
( ©www.engineeringnews.co.za )

Marine tender to be issued shortly
The marine tender for the construction of the proposed Coega deep-water port near Port Elizabeth, in the Eastern Cape, is on its way.
( ©www.engineeringnews.co.za )

SA laying gas pipeline in Mozambique
Construction of a $2,1-million 86-km-long 63-mm-diameter submerged high-density polyethylene gas pipeline to transfer gas from onshore town Vilanculos, to Santo Carolina, Magarugue, Benguerra and Bazurutho islands, in Mozambique, is well under way.
( ©www.engineeringnews.co.za )

Malawi buys SA graders
Engineering equipment supplier Barloworld Equipment has struck a deal to sell 30 graders to the Malawi government at a cost of $5-million, or about R40-million.
( ©www.engineeringnews.co.za )

SA firm loses R80m Mozal 2 contract
A leading South African engineering firm, Dorbyl Heavy Engineering (DHE), has reacted with anger to the news that it has lost out to a French multinational in an R80-million contract to supply steel superstructures for the second-phase expansion of the Mozal aluminium smelter in Mozambique.
( ©www.engineeringnews.co.za )

Africa’s aluminium splurge expected to slow
Political uncertainties will limit the scope for further development of Africa's aluminium sector, despite last week's confirmation of a major expansion of the Mozal smelter in Mozambique, analysts said.
( ©www.engineeringnews.co.za )

Industrial power transmission acquisition
The industrial power transmission division of Stratford Engineering of Johannesburg has been bought by Voith South Africa of Benoni, with effect from July 1, 2001, Engineering News Online can today report.
( ©www.engineeringnews.co.za )

$3,5bn Chad–Cameroon oil pipeline takes-off
Chad and Cameroon are set to receive $600-million in financing from a consortium of private banks and the World Bank for their interstate oil- pipeline project
( ©www.engineeringnews.co.za )

$100m Lesotho denim plant in wake of US Act
The construction of a $100-million denim mill and garment plant in Lesotho is being hailed as further proof that the Africa Growth Opportunity Act (Agoa) is benefiting sub-Saharan Africa.
( ©www.engineeringnews.co.za )

Entitlement breakdown for RBCT terminal
The coal division of Iscor Mining will receive two-million tons of the ten-million-ton capacity to be added at the Richards Bay Coal Terminal (RBCT) R600-million phase five, Iscor Mining MD Con Fauconnier tells Engineering News Online.
( ©www.engineeringnews.co.za )

R450-m Jo’burg airport terminal taking off
Work on the R450-million domestic terminal at Johannesburg International Airport (JIA) is on track for completion in October 2002. The terminal is designed to accommodate 10-million passengers a year and forms part of an overall development that will allow for easy flow of passengers and generous queuing, easy transfer between flights and access to every other facility at the airport.
( ©www.engineeringnews.co.za )

Trophy home drag
First came the R100m fortune on the JSE Securities Exchange; then the R5m-R10m house in a posh suburb to signal business prowess. Now come the tears, as the listings-boom entrepreneurs languish in tarnished trophy homes they can no longer afford.
( ©www.fm.co.za )

Don’t gild the small home lily
With the trend towards smaller homes firmly established in South Africa, developers are now witnessing a new phenomenon – a preference among buyers for luxury features and finishes even if these add significantly to the cost of their homes.
( ©www.mweb.co.za )

Choose an even-handed originator
Potential homebuyers seeking the best loan deal in an increasingly competitive field must take care to select a mortgage originator that deals with a number of banks and institutions – and is receiving the same commission from all of them.
( ©www.mweb.co.za )

Renewed interest in City Bowl
Buyer interest in Cape Town’s City Bowl area has climbed steadily over the past five years to reach the same level currently as that shown in the sought-after Atlantic seaboard suburbs – with prices of luxury properties showing a similar trend into the multimillion rand bracket.
( ©www.mweb.co.za )

‘Sticky patch for PE market’
Estate agents in PE are having a tough time, according to Marion Engelbrecht of Independent Property Consultants (IPC), who says both the number of new buyers entering the market and the number of new properties being listed for sale have slowed in the past few weeks.
( ©www.mweb.co.za )

Dubious savings in deregulation
The deregulation of the conveyancing profession – as proposed in a Bill which will shortly go before Parliament – may actually mean increased costs for property buyers instead of bringing about the envisaged transfer cost savings.
( ©www.mweb.co.za )

SARF appeals for bank ‘flexibility’
Meaningful homeownership among SAs historically disadvantaged will never shift up from its present low level unless the banks become more flexible in granting bonds to people who have had debt defaults or judgements noted on their records.
( ©www.mweb.co.za )

The Value of Project Management
This week we start a brand new series on project management.There are some companies that have built reputations for being able to consistently manage projects effectively. However, the vast majority of organizations have a more spotty reputation. Follow the series and soon you will be applying the TenStep project management process in your firm.
( ©www.tenstep.com )

Playing catch up
Construction projects are notorious for getting behind programme. As Roger Knowles explains, with substantial sums in the contract for liquidated damages, contractors are anxious to accelerate works to finish on time.
( ©www.industryclick.com )

Webmaster's break
I will be away for the next three weeks taking in the sights of Budapest and Koper on the Adriatic coast... you will still receive your weekly newsletter but regular ASAQS news updates may have to wait on my return.

New members to the CUG
We wish to welcome the following new member to the CUG:
Andries Mellet
Siyabonga Myataza
Cobus de Jonge
Nigel Forfar
Yolande Nieman

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.

Now read the rest of Did you Hear? in the Financial Mail