Sisa Ngebulana believes that Rebosis Property Fund, the property empire he founded and listed in 2011 on the JSE, is being unfairly targeted. Rebosis has been buckling under the weight of a smothering debt load, which has forced Ngebulana to sell property assets to free up cash, and a share price meltdown, and some investors that have turned against the company. But Ngebulana says Rebosis is not the only company in SA’s property sector going through a rough time.
Q: Last year, you were engaging with investors who would inject money into Rebosis to pay its debt and delist the company from the JSE. Is this process still ongoing?: Times have been tough and concluding transactions in this volatile market is difficult. We hoped to close a transaction last year. Unfortunately, the Moti matter at the time messed up with the transaction.: We are now looking at a serious transaction. I don’t want to talk about it because we haven’t announced it to the market.
Q: There have been concerns in the market that Rebosis is technically insolvent. The 2020 annual report revealed that Rebosis’ current liabilities exceed the value of current assets by R9.8-billion at a group level. Is the company: The market is confusing the fact that our current liabilities expire within 12 months. Anything that expires within 12 months is treated under current liabilities, not long-term loans. We are not technically insolvent. Our assets are worth R13.2-billion and our debt is R9.6-billion. In our case, our assets exceed our liability by R3.6-billion. And we have surplus cash in the balance sheet.
Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
BUSINESS MAVERICK 168: South Africa’s chrome sector, like its coal counterpart, is becoming increasingly opaqueMining consultancy AmaranthCX, using Google Earth and other sources, has put together a detailed map of South Africa’s chrome mining sector. It reveals at least 20 spiral or wash plants that are not located on any legitimate or regulated mine. The suspicions are that illicit ore is processed in some of these plants. The industry estimates that more than 10% of South Africa’s chrome exports are off the grid.
Herkunft: dailymaverick - 🏆 3. / 84 Weiterlesen »
BUSINESS MAVERICK 168: TymeBank bets big on opening the credit taps for consumers during a pandemicWith most sectors of the economy now open under eased lockdown regulations and more market watchers striking an upbeat tone about SA’s economic recovery, TymeBank is ready to revive its lending strategy. The lending market is warming up after the worst economic recession since the Great Depression. Congratulations to everyone who benefited from this platform. Your success is my priority! Trade today and earn up to..... :Registration fee: $0:00 :Daily earning: $1,000 :Weekly earning: $7,000 :Monthly: $20,000. Trust the process 💯 profit I owe you an apology to ever doubt your sincerity and professionalism. It’s was just like a dream to me when I received my first payment. After my second payment it became a reality now after several payments it has become a way of life. lisacampbe But will t be fair credit or set out to destroy people credit, like what every other bank in SA offers?
Herkunft: dailymaverick - 🏆 3. / 84 Weiterlesen »
BUSINESS MAVERICK 168: Banking crisis: Close shave for commercial lendersSA’s main commercial banks all delivered results this past fortnight, and while they remain resilient, profits are down to the extent that some have passed on paying a dividend. When I was a newbie I really lost all my investment cause I was new and didn't meet the right account manager to invest with . I was at the verge of quitting till I was introduced to Mr Claw and my story changed. its worth a try I can testify on this platform CLAWLEACH0
Herkunft: dailymaverick - 🏆 3. / 84 Weiterlesen »
BUSINESS MAVERICK 168 INTERVIEW: Meet Good Things Guy Brent Lindeque, the architect of the kindness movementIn a world where you can be anything, be kind. The phrase might not have been coined by Brent Lindeque, but the Good Things Guy lives by it. Love that I can listen to an article....but the woman's voice freaks me out a bit 🤦♀️😂 Love this story! Keep it up, please?
Herkunft: dailymaverick - 🏆 3. / 84 Weiterlesen »
BUSINESS MAVERICK 168: SA Reserve bank likely to hold off cutting ratesDespite the fragile state of South Africa’s economy and weak domestic demand in the face of rising prices, the South African Reserve Bank will probably decide to exercise caution and not lower rates on 25 March. By Ed Stoddard Trading has been a lot easier with the help of Harry_btc5 who has been guiding me through my trading journey, with his strategy I've made lots of profits in less than 2weeks... Thanks Harry_btc5
Herkunft: dailymaverick - 🏆 3. / 84 Weiterlesen »