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Spreadsheet Ranger

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Spreadsheet Ranger last won the day on May 16

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  1. I bought some shares in them when they listed (only R1000-ish) and I forgot about them, but I see now they have been climbing quite steadily over the last few years since I bought. I am looking into buying some storage units and during this process I remembered I own SSS shares, being kind of involved in this specialized space I looked through new eyes at Stor-Age now.
  2. Attached is the TymeBank presentation from African Rainbow Capital. It's quite an interesting read and makes me even more excited about banking with TymeBank. TymeBank_AVIOR_Conference_11-06-19.pdf
  3. Ace Magashule doesn’t give a damn about you and your ability to feed your kids, educate them, or provide a better future for them than you had. If he did, he would not be in open warfare with the president and his economic cluster over the mandate of the Reserve Bank and its ownership. Frankly, a guy with no grip on the concept of quantitative easing and its likely consequences for a suffering country should not be making pronouncements on policy, regardless of his interpretation of the resolutions of the ANC conference at Nasrec of 2017 or its election manifesto. Those resolutions taken at Nasrec were full of the necessary caveats to protect the economy and the independence of the SA Reserve Bank. Critically on issues pertaining to the Reserve Bank, point 30 of the party resolution states:”Government must develop a proposal to ensure full public ownership in a manner that does not benefit private shareholder interests.” The party handed the Reserve Bank project to government. It entrusted its deployed cadres to positions of power to sensibly apply its resolutions. They have been provided the leeway to make those decisions in the best interests of the country. Yet its Secretary General this week embarked on an extraordinary public assault on the institution and its mandate, confusing an already complex issue with which the ANC must wrestle. The problem is that the wrestling match has turned into a full-blown no-holds-barred cage fight between ANC factions. It’s moved from obnoxious to toxic in a few short steps. And Magashule’s attempt to first delete a Thursday afternoon tweet, already screen-grabbed by observant politics watchers, and then to deny he’d sent it just as a conciliatory statement came from the office of the ANC president, was met with the derision it deserved. When I asked Reserve Bank Governor Lesetja Kganyago to respond to Magashule’s earlier statements on the need for government to implement ANC resolutions, he was unequivocal. The Reserve Bank does not respond to political parties. It’s answerable to the constitution via its government mandate. That's the way it should be. You can bet your bottom dollar that we will soon see proposals for amendments to the constitution governing the Reserve Bank mandate. Just as we have seen proposals to amend the constitution unnecessarily on land reform. In the meantime, Magashule appeared to come back into line and stressed that the statement issued from president Cyril Ramaphosa’s office that nationalising the Reserve Bank was not prudent, considering the state of the economy, was what had been agreed. It’s nothing more than cheap politicking in a battle for the control of the ANC. Having read the devastating evidence put forward in the Pieter-Louis Myburgh book “Gangster State”, which details the empire created by the former Free State premier, we can only assume that there is a connection between a sordid underworld detailed in the book and attempts to undermine much-needed overdue reforms. It’s also abundantly clear that South Africa is deeply vulnerable to the vagaries of ideological battles within the governing party. South Africa is one heartbeat away from a potentially destructive shift in the political landscape. Ramaphosa has deftly navigated through that morass so far, but the factional battles are undermining the real work South Africa needs to do to transform the economy into an engine for inclusive growth. Source: Bruce Whitfield is a multi-platform award-winning financial journalist and broadcaster.
  4. Tongaat Hulett's listing has been suspended - here's what we know about the crisis at the sugar giant On Monday, trading in South Africa's biggest sugar producer Tongaat Hulett was suspended on the JSE and in London. The 127-year company was first listed on the London Stock Exchange in 1939, and on the JSE since 1952. Tongaat asked that its listings be suspended because of accounting irregularities. Here’s what we know: Its results cannot be trusted At the end of last month, the board announced that its 2018 financial results can’t be relied on. Tongaat said an ongoing financial review has revealed that “certain past practices” do not reflect the company's business performance accurately. The company's equity (the value of the business after liabilities) in its 2018 financial results has been overstated by between R3.5 billion to R4.5 billion. The overstatements were related to the treatment of Tongaat's property assets, analysts told Business Insider SA. PricewaterhouseCoopers has been called in for a forensic investigation. Now, Tongaat has asked that its listing be suspended to protect investors against speculative trading - given that there isn’t enough reliable financial information about what the company is worth. The suspended listing will also allow management more time to support the completion of the investigation. “Whilst the Board is conscious that some shareholders or potential investors would prefer to retain the ability to buy and sell shares, the Board believes that the temporary suspension is in the best interests of shareholders as a whole.” Questions about its former CEO While Tongaat has blamed “certain past practices” for its accounting woes, it hasn't yet implicating former CEO Peter Staude nor financial head Murray Munro. Staude served as CEO since 2002 while Munro served as CFO since 2003. Both resigned days before Tongaat’s annual meeting in August 2018. Analysts who spoke to Business Insider South Africa said Staude should face the music. He received a total pay package of more than R13.5 million in 2018, and R20 million in the previous year - which included a R6.6 million cash bonus. Deloitte is in the firing line Deloitte was Tongaat’s auditor for more than 15 years. (It also audited Steinhoff.) The firm has launched an internal investigation, and replaced all senior auditors on the Tongaat audit. The Independent Regulatory Board for Auditors (IRBA) has also started an investigation into Deloitte’s work for Tongaat. Trading should resume in October this year Tongaat’s board says that it will ask for its listing to be reinstated when it releases its reviewed financial statements by the end of October. But the company is battling to survive Tongaat’s current market capitalisation is R2.2 billion, while its 2018 financial results show that total liabilities amount to R14.6 billion. Tongaat in February warned that its earnings will decline by as much as 250%. It has blamed a surge in sugar imports into South Africa for its difficulties, as well as the introduction of the sugar tax last year, which had a larger than expected impact on local demand, particularly in the beverage industry. The company is currently cutting costs, and has sent retrenchment letters to over 5,000 employees. It has also concluded agreements with its creditors. Source: Business Insider
  5. In accordance with paragraph 3.59(b) of the JSE Limited Listings Requirements the Board of the Company wishes to advise that Mr AP van Jaarsveld has resigned as Financial Director with effect from 1 June 2019. He will remain available to assist the Company up until 31 July 2019 whilst the Company considers the appointment of a new Financial Director. The finance team was strengthened earlier in 2019 with the appointment of a group financial manager. The Board would like to thank Mr AP van Jaarsveld for his assistance during the listing of the Company and through the first two financial years as a listed company, under difficult circumstances, and wishes him well in his future endeavours. -- I got REKT. SENS_20190604_S415853.pdf
  6. · The Deputy President is David Mabuza. · The Minister of Agriculture, Land Reform and Rural Development is Thoko Didiza. · The Deputy Ministers are Sdumo Dlamini and Mcebisi Skwatsha. · The Minister of Basic Education is Angie Motshekga. · The Deputy Minister is Dr Regina Mhaule. · The Minister of Communications is Stella Ndabeni-Abrahams. · The Deputy Minister is Pinky Kekana. · The Minister of Cooperative Governance and Traditional Affairs is Dr Nkosazana Dlamini-Zuma. · The Deputy Ministers are Parks Tau and Obed Bapela. · The Minister of Defence and Military Veterans is Nosiviwe Mapisa-Nqakula. · The Deputy Minister is Thabang Makwetla. · The Minister of Environment, Forestry and Fisheriesis Barbara Creecy. · The Deputy Minister is Maggie Sotyu. · The Minister of Employment and Labour is Thulas Nxesi. · The Deputy Minister is Boitumelo Moloi. · The Minister of Finance is Tito Mboweni. · The Deputy Minister is Dr David Masondo. · The Minister of Health is Dr Zwelini Mkhize. · The Deputy Minister is Dr Joe Phaahla. · The Minister of Higher Education, Science and Technology is Dr Blade Nzimande. · The Deputy Minister is Buti Manamela. · The Minister of Home Affairs is Dr Aaron Motsoaledi. · The Deputy Minister is Njabulo Nzuza. · The Minister of Human Settlements, Water and Sanitation is Lindiwe Sisulu. · The Deputy Ministers are Pam Tshwete and David Mahlobo. · The Minister of International Relations and Cooperation is Dr Naledi Pandor. · The Deputy Ministers are Alvin Botes and Candith Mashego-Dlamini. · The Minister of Justice and Correctional Services is Ronald Lamola. · The Deputy Ministers are John Jeffery and Inkosi Phathekile Holomisa. · The Minister of Mineral Resources and Energy is Gwede Mantashe. · The Deputy Minister is Bavelile Hlongwa. · The Minister of Police is General Bheki Cele. · The Deputy Minister is Cassel Mathale. · The Minister in the Presidency is Jackson Mthembu. · The Deputy Minister in the Presidency is Thembi Siweya. · The Minister in the Presidency for Women, Youth and Persons with Disabilities is Maite Nkoana-Mashabane. · The Deputy Minister is Prof Hlengiwe Mkhize. · The Minister of Public Enterprises is Pravin Gordhan. · The Deputy Minister is Phumulo Masualle. · The Minister of Public Service and Administration is Senzo Mchunu. · The Deputy Minister is Sindy Chikunga. · The Minister of Public Works and Infrastructure is Patricia De Lille. · The Deputy Minister is Noxolo Kiviet. · The Minister of Small Business Development is Khumbudzo Ntshavheni. · The Deputy Minister is Rosemary Capa. · The Minister of Social Development is Lindiwe Zulu. · The Deputy Minister is Henrietta Bogopane-Zulu. · The Minister of Sports, Arts and Culture is Nathi Mthethwa. · The Deputy Minister is Nocawe Mafu. · The Minister of State Security is Ayanda Dlodlo. · The Deputy Minister is Zizi Kodwa. · The Minister of Tourism is Nkhensani Kubayi-Ngubane. · The Deputy Minister is Fish Mahlalela. · The Minister of Trade and Industry is Ebrahim Patel. · The Deputy Ministers are Fikile Majola and Nomalungelo Gina. · The Minister of Transport is Fikile Mbalula. · The Deputy Minister is Dikeledi Magadzi.
  7. Case number 9141/19. High Court, Cape Town
  8. President Cyril Ramaphosa will today, Wednesday, 29 May 2019, address the nation on the composition of the National Executive from the Union Buildings in Tshwane. Date: Wednesday, 29 May 2019 Time: 20h00 (Media to arrive at 18h00) Venue: The Union Buildings, Media Centre
  9. Special Counsel Robert Mueller is making a rare public statement about his investigations into Russian interference in the 2016 presidential election Wednesday morning. Mueller has not spoken publicly since his report was published in April.
  10. I would not trust this one bit. When last did you use the Post Office? If their incompetence is anything to go by, good luck to the future victims when the bank closes. Also... That is purple group Mark Barnes, gets paid for missing meetings. https://www.moneyweb.co.za/moneyweb-radio/did-purple-group-overpay-its-non-executive-chair/
  11. @BitcoinZAR what do you make of the recent price jump? I can't imagine the bottom to be in yet.
  12. I am using the IEC link, seems to be the best of the lot: https://www.elections.org.za/NPEDashboard/app/dashboard.html with the Citizen also looking promising https://citizen.co.za/category/news/south-africa/elections/
  13. Nationally I decided to vote for Purple Cow so I really hope I made the right choice and they end up getting a seat otherwise I and many others wasted a vote. Anyway, remaining positive and assuming they will get a seat at the national assembly here is a thread dedicated to Purple Cow (Capitalist Party of South Africa). For those of you who do not know: The party was founded by ten people who describe themselves as "positive disruptors" and who believe their innovative thinking could find solutions to many of South Africa's problems. The ten founders are Kanthan Pillay, Roman Cabanac, Neo Kuaho, Gideon Joubert, Unathi Kwaza, Duncan McLeod, Sindile Vabaza, Louis Nel, Katlego Mabusela and Dumo Denga. #VotePurpleCow
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