Kagiso, NIB jump into dry property sector
NEDCOR Investment Bank (NIB) and Kagiso Property Holdings have put together a R636m property fund called the Resilient Property Income Fund to be listed on the JSE Securities Exchange SA (JSE) next Friday. The move may signal the end of a listings drought in the JSE's property sector since interest rates began rising early this year.
(©www.bday.co.za)

Dorrenstein realises his dream
FORMER Stocks & Stocks boss, Bart Dorrestein's plan to create an upmarket leisure hub in Sandton came closer to finalisation yesterday at the sod turning ceremony of a R600m mixed-use development, Michelangelo Towers.The 33-story development consists largely of 150 luxury residential apartments with prices ranging between R1,2m and R25m on a site located in Maude Street.
(©www.bday.co.za)

Old Mutual Properties boosts offshore arm
OLD Mutual Properties is strengthening its offshore property management arm and has added a contract to provide leasing, marketing, facilities management and operational support services for Ukraine's premier shopping centre, Univermag Ukraina. The appointment to manage the centre, which is undergoing a $20m renovation, will see Old Mutual Properties consulting for New Yorkbased NCH Capital, which owns 93% of the Kiev complex.
(©www.bday.co.za)

Old Mutual property unit eyes markets outside SA
Pretoria - Old Mutual Properties was "very definitely" looking at building a property business outside of its business in South Africa, Ian Watt, Old Mutual Properties' managing director, said yesterday.
(©www.busrep.co.za)

PBMR test-rig start-up a world first
South Africa’s Pebble Bed Modular Reactor (PBMR) project achieved a major milestone, with the successful start-up of a test-rig for the power conversion system.
(©www.engineeringnews.co.za)

Turnover target: R1-billion
The last few years have seen a number of changes for the South African arm of the largest air conditioning, refrigeration and heating equipment supplier in the world.
(©www.engineeringnews.co.za)

Barloworld changes its management philosophy
Executives credit initiative for pushing up year-end revenue by more than R15bn in a period of three years. If you think it is difficult to get everyone in your office to make it to a meeting on time, imagine trying to get 23000 people spread across 31 countries to buy into a management philosophy that will change the culture of an organisation.
(©www.bday.co.za)

New Century City chief settles into post
Those who were hoping to cash in on the woes of Century City, which has not yet delivered the returns it promised, can think again. Its new head, Greg Deans, has a long-term mandate.
(©www.bday.co.za)

Smelter is crucial to the success of Coega project
Decision not to proceed with project could seriously hamper development. A decision not to proceed with the planned $1,6bn aluminium smelter project in the Coega industrial development zone (IDZ) could "seriously hamper" the development of the zone, according to an environmental impact assessment carried out by the Council for Scientific and Industrial Research (CSIR).
(©www.bday.co.za)

Fuel sale volumes peak in third quarter
The SA liquid fuels industry recorded record high sales by volume in the third quarter of the year, reinforcing the recent gross domestic product data with evidence that the real economy is growing strongly.
(©www.bday.co.za)

Sasol builds on plans to convert gas worldwide
Energy company Sasol and the state-owned Qatar General Petroleum have appointed 15 banks to finance construction of a plant that will convert natural gas into diesel and naphtha at Ras Laffan Industrial City in Qatar.
(©www.bday.co.za)

Multibillion Project Turbo awaits final approval
A new project on the horizon for South African petrochemicals group Sasol could be the single largest private investment in South Africa.
(©www.engineeringnews.co.za)

Sasol arranges for $700m finance for Qatar GTL project
South Africa’s Sasol Synfuels and Qatar Petroleum (QP) have jointly appointed 15 banks as lead arrangers in the $700-million non-recourse debt financing of their gas-to-liquid (GTL) project at Ras Laffan Industrial City in Qatar.
(©www.engineeringnews.co.za)

Time for national plough-back effort
SA HAS one of the most vibrant marketing communications industries in the world. The average advertising agency invests generously in pro bono projects. Despite this, there is very little investment particularly by the business sector in good causes.
(©www.bday.co.za)

NEF to make submission for capitalisation
THE National Empowerment Fund (NEF), a government agency set up to assist black economic empowerment, is to make its submission for capitalisation in a final document to the trade and industry department next week.
(©www.bday.co.za)

Research and development is the key to excellence
ONE of the most important lessons that emerges from the Technology Top 100 awards programme is that excellent companies spend a lot of money on research and development. Roy Marcus, president of the Engineering Association of SA, chairman of the Technology Top 100 awards programme and an executive with Adcorp, says there is a growing awareness of the desperate need for SA companies to own their intellectual capital.
(©www.bday.co.za)

SAFCEC NEWS

WORK SKILLS PROGRAMMES
The CETA has advised that many of the WSPs they are receiving are on the old format. SAFCEC has been asked to advise all its members that should the WSP be submitted in an electronic format, they are then entitled to an additional grant payment. This payment is based on 10% of last year’s levy with a minimum of R2 000 per levy number and a maximum of R10 000 per levy number. For larger members this payment could be as much as R170 000. If members are unsure in what format they submitted their WSPs, they should contact Heather on heatherk@ceta.org.za.
(©www.safcec.org.za)

SPECIFICATIONS FOR EARTH-MOVING MACHINES
Standards South Africa (STANSA, a division of SABS) has established a Technical Committee (TC) to consider the preparation of standard specifications for earth-moving machinery. The TC includes all the major manufacturers and suppliers of earth-moving machines (Babcock, Barloworld, Bell, Daewoo, ELB, Komatsu, etc) as well as users of earth-moving machines (DWAF, Inst of Quarrying, SAFCEC, etc.).
(©www.safcec.org.za)

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Retail sales expected to be buoyant
WHILE retail sales are anticipated to be buoyant over the festive season, they are expected to "soften" next year. This is according to research conducted by the Bureau for Economic Research that found confidence in the retail sector to be at its highest level in 14 years.
(©www.bday.co.za)

Local solution for all aspects of retail transaction processing
UNIVERSAL Computer Services (UCS), the largest division of the UCS Group and a finalist in this year's Technology Top 100 awards programme, is a good example of how SA can and does develop innovative, world-class technologies.
(©www.bday.co.za)

Festive food prices to go down
Johannesburg - Food prices are set to drop during the Christmas period thanks to a stronger rand. Basic foodstuffs including rice and other popular Christmas fare such as chicken and turkey will be cheaper at certain supermarket chains. Pick 'n Pay says its customers will buy milk and bread at cost prices.
(©www.news24.com)

Rosebank Mall stakeholders can appeal demolition order
Pretoria - The Mall of Rosebank and Centre City Property Fund, the listed property company, were yesterday granted leave to appeal in their dispute with Stephen Le Roith, a director of Cradock Heights.
(©www.busrep.co.za)

Nampak wraps up 57% profit
Durban - Nampak, Africa's largest packaging manufacturer, lifted its net profit by 57 percent to R657 million for the year to September following cost reduction and improvement in productivity and volumes, John Bortolan, Nampak's chief executive, said yesterday.
(©www.busrep.co.za)

Producing hi-tech laminated textiles for a material world
BREATHETEX Corporation, a hitech textile laminating company, is a finalist in this year's Technology Top 100 awards programme. Port Elizabeth-based BreatheTex was established three years ago as a result of a commercialisation project by the Council for Scientific and Industrial Research (CSIR).
(©www.bday.co.za)

Good Christmas in the offing
South African retailers can prepare themselves for an excellent Christmas period, but also for leaner times in 2003.
(©www.news24.com)

Careers: Visual merchandiser
Werna van Zyl is a visual merchandiser for Foschini. She tells us what this creative job entails.
(©www.iol.co.za)

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We will squat at city hall'
Defiant residents of Bayview in Chatsworth have warned they will unite and protest with other poverty-stricken communities to defy the unicity's decision to start relocating them "immediately" because of bad debts. Their actions could include "squatting" at the Durban City Hall.
(©www.iol.co.za)

Project mounts a blitz on shack life
Nombulelo Yeki said she finally "felt like somebody" as she helped volunteers build her new home in KTC near Nyanga, Cape Town.
(©www.iol.co.za)

Lohatlha land invaders arrested in SANDF row
Military police on Wednesday morning arrested 57 protesters staging a land invasion at the South African National Defence Force's Combat Training Centre (CTC) at Lohatlha, near Sishen, in the Northern Cape.
(©www.iol.co.za)

Irish tycoon says: Let there be houses!
A big-hearted Irish businessman, based in Cape Town, has launched a R30-million drive to rebuild an entire informal settlement in the city.
(©www.iol.co.za)

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Fuel tops the list of commodities for which Zimbabweans queue up
Predictions of more drought may mean there is nothing to line up for. ZIMBABWE has become a land of long queues. At the TM Supermarket in Harare's Chadcombe shopping centre, a long line of people snakes out the door.
(©www.bday.co.za)

Burundi gets $900m aid boost
International aid donors hyave agreed to provide the war-torn African state of Burundi with $905m over the next three years for an economic recovery programme.
(©www.news24.co.za)

Miner urges Ghana to relax investor caps
Precious-metals miner Lonmin this week urged Ghana to relax restrictions on foreigners in Ghanaian companies, saying it depressed share prices of firms like Ashanti Goldfields.
(©www.miningweekly.co.za)

Chinese firm commissions Zambia copper mine
Chinese miner NFC Africa said yesterday it had commissioned its Chambishi copper mine in Zambia, where it budgeted production at 24 000 t in 2003.
(©www.miningweekly.co.za)

Nigeria to select top bidder for Alscon soon
London - Nigeria would appoint its preferred bidder for the Aluminium Smelter Company of Nigeria (Alscon) next month, the Bureau of Public Enterprises (BPE) said yesterday.
(©www.busrep.co.za)

Eskom Enterprises will light up Uganda
Kampala - Eskom Enterprises, the non-regulated business division of power utility Eskom Holdings, will operate and maintain two hydropower stations in Uganda as part of a deal signed earlier in the week with the government.
(©www.busrep.co.za)

Nigeria boosts MTN earnings
Fat profits in Nigeria helped boost South African mobile group MTN's first half earnings 92%, and MTN said yesterday it is bullish on its operations in that politically volatile country despite recent upheaval.
(©www.engineeringnews.co.za)

Zim firm challenges state monopoly on maize
Zimbabwe's Supreme Court has reserved judgement on a local company's challenge against the state Grain Marketing Board's (GMB) monopoly over all trade in the staple maize grain, state media reported yesterday.
(©www.engineeringnews.co.za)

Talks advance on lucrative Angola oil block
Oil major Chevron Texaco said this week that its talks with Angola over renewing the lease for its lucrative block O production field were "well advanced" and it saw further exploration possibilities there.
(©www.engineeringnews.co.za)

Refinery to bid for oil after fire, flood
Morocco's major refinery Samir will tender from next month to buy refined oil products after flooding and a fire on Monday closed its 125 000 bpd Mohammedia plant, a senior energy ministry official said on Wednesday.
(©www.engineeringnews.co.za)

Mauritania announces offshore oil, gas finds
An Australian consortium drilling off the coast of Mauritania has discovered two oil deposits with reserves totalling 200-million barrels, the west African country said.
(©www.engineeringnews.co.za)

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Angloplat's output target 'on track'
Johannesburg - World number one platinum producer Anglo Platinum said on Thursday that an expansion review conducted by the firm supported a target it set earlier this year to produce 3.5 million ounces by the end of 2006.
(©www.news24.com)

December date for new Anglo-Kumba hearing
The Competition Tribunal is next month set to hear a second intervention application by the Industrial Development Corporation (IDC), which is seeking to partake in a Tribunal hearing into a corporate deal between miners Anglo American and Kumba Resources.
(©www.miningweekly.co.za)

AngloPlat warns of potential price spike
Platinum market leader, AngloPlatinum (AngloPlat), believes there is a real danger of a price spike in 2003 and 2004 due to the continuing supply deficit, which could grow further as a result of delays in the company’s expansion ramp-up.
(©www.miningweekly.co.za)

Asbestos rehab programme uneven
Some 59% of South Africa’s 111 asbestos mines with 578 mining dumps have been successfully rehabilitated, at a cost of about R137-million rand.
(©www.miningweekly.co.za)

R1,6bn PGM tailings project announced
The world’s largest platinum producer, Angloplats, has announced that it will proceed with the development of a R1,6-billion tailings retreatment project at its Rustenburg Platinum Mine complex, near Rustenburg in the North West Province.
(©www.miningweekly.co.za)

Harmony makes NYSE debut
South African miner, Harmony Gold Mining Company, the world's fifth largest gold producer, yesterday announced that its American Depositary Receipts commenced trading on the New York Stock Exchange (NYSE) under the symbol "HMY".
(©www.miningweekly.co.za)

Lomin reports higher output, lower profits
South African-based miner Lonmin reported a 32% fall in annual net profit yesterday, pulled down by lower platinum group metals prices, but said the outlook for platinum was strong over the next year.
(©www.miningweekly.co.za)

Barrick on track to produce 5,7m oz – CEO
Speaking at a Toronto investor conference, Barrick president and CEO, Randall Oliphant, affirmed that as November ends, the company is in line with plan to produce almost 5,7-million ounces of gold for 2002, at costs of approximately $178.
(©www.miningweekly.co.za)

Explorer pursues gem prospect in North West
South African minerals explorer, Thabex, is pursuing a new diamond exploration project in Taung, in the North West Province.
(©www.miningweekly.co.za)

Boulle pulls off DFI coup
Canadian mining company, Diamond Fields International (DFI) has announced that Jean-Raymond Boulle and his dissident group of directors have won an overwhelming majority of the votes cast at the company’s annual general meeting last week.
(©www.miningweekly.co.za)

Gold company to intensify its West African search
Gold-mining company Randgold Resources reports that it is to use its rising cash pile to search for new gold deposits in West Africa – where it co-owns the impressive Morila mine with AngloGold and the Malian government – and elsewhere on the continent.
(©www.miningweekly.co.za)

Atlas forecasts another year of firm growth
Cape Town - Property loan stock firm, Atlas Properties, was expecting another year of stable growth after figures for the twelve months to September revealed an eighth consecutive annual profit increase, bringing average annual returns to 21 percent compounded since 1993.
(©www.busrep.co.za)

Prospector's guide to surviving the Bushveld
Soaring demand for platinum is luring new mining firms and inspiring expansion projects in the Bushveld Complex, but analysts and industry players say many may not survive the rush.
(©www.busrep.co.za)

When the rand goes up, mining shares go down
Johannesburg - Stock indices dropped for a third day to their lowest level in more than three weeks, paced by mining companies after the rand rose to a 13-month high, cutting their profit margins.
(©www.busrep.co.za)

Gencor denies it employed asbestos claimants
Johannesburg - Gencor, the investment holding company, had at no stage employed the 37 people now suing it for damages related to asbestos-related injuries, nor did it control asbestos mining companies, but had merely provided technical assistance, the Johannesburg high court was told last week.
(©www.busrep.co.za)

Titanium to boom as technology cuts costs
Johannesburg - Southern Africa's mineral sands producers may have to scale up their operations to take advantage of a boom in demand for titanium metal.
(©www.busrep.co.za)

Angloplat is still optimistic it will meet 2006 goal
Anglo Platinum (Angloplat) said yesterday it would meet its expansion target to produce 3,5-million ounces of platinum by 2006, but this will be achieved at an increased cost.
(©www.bday.co.za)

Lid of laundry baskets lifts
Mining executive Brett Kebble intends to appoint forensic auditors Gobodo to get to the bottom of a "dirty tricks" campaign against him.
(©www.bday.co.za)

Angloplat's trade-off with state 'good sign'
Details of the trade-off that took place between government and Anglo Platinum earlier this year, emerged for the first time yesterday.
(©www.bday.co.za)

SoutherEra mine expansion plans on track
Expansion will add to the country's output. CANADIAN mining company SouthernEra will start the development of three new platinum group metal (PGM) mines next year to push production up to about 420000 ounces by 2005 and to 550000 ounces by 2007.
(©www.bday.co.za)

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Don't downscale with blinkers on
More technology means more mobility and often, the freedom to move to a smaller town away from the 'crime and grime' of a city. But while such downscaling is an increasingly attractive option for many South Africans, the choice of town should not be made while wearing rose-tinted spectacles.
(©www.property24.co.za)

Spotlight on: Hout Bay
Rocketing property prices on the Atlantic Seaboard are prompting more homebuyers and investors to seek out good value for money properties in Hout Bay.
(©www.property24.co.za)

Gauteng market sails straight on
Gauteng has been the mainstay of the residential property market this year, with sales volumes in the province holding steady in the interest rate storm and price growth staying well ahead of rising inflation.
(©www.property24.co.za)

Flat rentals taking a short breather
Growth in flat rentals around the country has slowed significantly - but the relief for tenants is not expected to last long.
(©www.property24.co.za)

Set the rent right and keep your tenant
The secret to successfully investing in a second property lies, more often than not, in setting the rent at the correct level - and keeping it there as market conditions and demand patterns change.
(©www.property24.co.za)

Is this the most expensive house in SA?
High rise: This house in Llandudno went on sale for R45-million, which is believed to be the highest price asked for house in South Africa.
(©www.iol.co.za)

Photo: Alan Taylor, The Cape Times

Durban's boom gate drama: it's not over
Boom gates and other security features may be allowed in Durban suburbs in certain circumstances, according to a discussion document submitted to the council's executive committee by city manager Michael Sutcliffe on Tuesday.
(©www.iol.co.za)

On taking ownership of your new home
Many buyers aren't sure when they can move into their new home - or when it will actually become theirs.
(©www.property24.co.za)

Clutter may conceal a gem
The clutter which quickly drives some potential buyers from a show home may just disguise a real bargain.
(©www.property24.co.za)

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The Construction Contract Series
From lump sum contracts to cost plus, these articles covers them all.
Guaranteed Max Contracts
A look at Guaranteed Maximum Contracts.
(©www.construction.about.com)

CPM Central
More than just scheduling, CPM's are the way to go to schedules:
Why CPM Schedules Hurt
CPM schedules paint accurate project pictures - use them wrong and you may lose your job - do them right and they they can be a project saver
(©www.construction.about.com)

Engineer for recovery
The global construction industry is worth, conservatively, $3.4 trillion — and of that enormous sum up to 40% is lost in wastage.
(©www.intlconstruction.com)

Fly over the flyover
One of the major challenges with viaduct construction is maintaining an uninterrupted traffic flow beneath. Falsework provides one solution, says Fiona Sutherland.
(©www.intlconstruction.com)

Modular motorways
Bill Holdsworth reports from the Netherlands on an energy saving modular concrete road that can be laid at up to 100m per hour.
(©www.intlconstruction.com)

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Rand steady against dollar
The rand was trading at 9.27/$ on Friday morning, about 3c weaker than its Johannesburg close on Thursday, but off its opening level of 10.28%..
(©www.news24.com)

SA views US’s zero-rated tariff plan as tactical
A US proposal to eliminate tariffs on all manufactured goods – a plan that was criticised by the World Trade Organisation (WTO) as potentially damaging to developing countries
(©www.engineeringnews.co.za)

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Nedcor innovares with new R1bn pref offer
NEDCOR has followed up its R1bn issue of preference shares to institutional investors last week with the launch of a further R1bn offer, this time to retail investors with at least R100000 to invest. The issues will boost Nedcor's primary capital, after it used up much of its surplus capital on its R7,5bn purchase of BoE earlier this year.
(©www.bday.co.za)

Possibility of El Nio hurts good PPI news
Index shows food inflation declining. FEARS that a multiyear drought would slash the maize crop for the next few years have dampened positive news from October's producer price index (PPI) released yesterday, showing food inflation was on the decline. Experts have warned that a severe El Nio weather pattern could develop next year, compounding the effects of the current drought disrupting the maize planting season.
(©www.bday.co.za)

Inflation expectation survey released
During the fourth quarter of 2002, CPIX inflation expectations were on average significantly higher compared to the third quarter of 2002, says an inflation expectation survey conducted by the Bureau for Economic Research.
(©www.engineeringnews.co.za)

BEP MEDS: OUR OWN MEDICAL SCHEME
As you might have heard by now, Vincent Knox of PBC (Profhealth Benefits Consulting (Pty) Ltd) has been successful in registering a restricted Medical Scheme for the Built Environment Professional Associations. The Scheme was approved by the Registrar of Medical Schemes on the 9th November 2002 and will come into effect on the 1st January 2003. By their own admission, it was one of the best researched and prepared applications they have ever received – congratulations Vincent!

The Regulations require that the Scheme should have a minimum of 6 000 members within 3 months. As the members of SAACE, SAIA and ASAQS stand to benefit from participation, we are confident that this target will be reached.

Information and application forms are available on line at http://www.sovhealth.co.za/web/bepmeds/index.htm

Further queries about the scheme should be addressed to Vincent Knox at (012) 460 0430 (mobile 083 676 0124).

Thanks to PIA for keeping us updated.

African Real Estate Society (AfRES)
4th International Conference on Real Estate in Africa
Wednesday 12 March to Thursday 13 March 2003

Call for Papers and Registration
The 4th conference is planned for Kenya. It will again be sponsored jointly by the RICS Foundation and regional bodies.
Submission of Abstracts: Prospective presenters are encouraged to submit abstracts for papers (maximum 2 pages) electronically by no later than 31 December 2002. Keeping to this deadline is of critical importance to the Conference Organising Committee for planning purposes. Please submit your abstract electronically by e-mailing it to the following addressee: Dr Washington Olima: wolima@uonbi.ac.ke

More details from Valmond Ghyoot.
(Photograph of the Masai Mara by Riel Franzsen taken from the AfRes website.)

Important dates from the ASAQS Calendar
Event : SA Council for the QS Profession Executive Meeting
Date : November 26, 2002
Time : 11:00 AM - 3:00 PM

Event : ASAQS Marketing Committee
Date : December 10, 2002
Time : 11:00 AM - 1:00 PM

Event : ASAQS Executive Committee
Date : December 11, 2002
Time : 8:00 AM - 3:00 PM

For more information on the above events contact Len Harris director@mweb.co.za or phone 011 315 4140

Click here to view the ASAQS Calendar or add events to it

Seen on Classifieds:
QSs REQUIRED
A dynamic firm based in Botswana requires the services of self-motivated and dedicated surveyors to work on projects throughout the country. Must have a minimum of five year post-qualification experience and be prepared to travel.

Remember: Visit the ASAQS website for new updates!

New members to the CUG

Anthony Mercure

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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