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ISSN 1028-1215 FOUNDED 1980 SA: R15.00 (Incl. VAT) JULY 2017 Golden Arrow fly Wooden homes boost 1 000 Gantry cranes supplied No stopping this bus. 3 Stalwart takes the helm. 13 Heavy lift champions. 19 A cuppa good Cape fortunes fall cheer HE Western Cape’s investment tycoons have seen billions of Rands Tin value wiped away by treacherous economic and political developments at home and abroad. Investors, of late, have endured tough times with the political will to grow a very sluggish local economy alarmingly absent. Sentiment has been further hammered by ominous political developments in South Africa – including the growing suspicions of state capture seemingly articulated in the 17 million contributed to com- replacement of respected finance minister munity upliftment over the Pravin Gordhan with untried Malusi Rpast decade has had far reach- Gigaba. ing effects for a local Cape community To make matters worse, those investors involved in the production of the lo- that in the last few years hoped to hedge cally found and proudly South African against an ailing and compromised South produce - rooibos tea. African economy are now finding that price Over 900 children have been posi- of externalising wealth is sometimes awfully tively influenced; 7 students have steep. Unexpected political developments completed tertiary studies with full like Brexit in the UK and the election of bursaries, with another 21 currently the blustering businessman Donald Trump studying with bursaries; 330 perma- as president of the USA has added nasty nent workers and 1500 seasonal work- complications to offshore forays by South ers have been positively impacted Africa investors – especially with the Rand – all through local tea manufacturer, showing a rare determination to strengthen Carmien Tea and its social uplift- against major global currencies. Wiese has also endured pain in his While Wiese appears to have suffered the ment arm, The Mouton Foundation As things stand it would seem the worst controlling stake in industrial supplies worst bruising to his portfolio, the going has – named after the Mouton family who body blows have been taken by retail company Invicta Holdings. The company’s also been tough for other Western Cape- established and own Carmién Tea. tycoon Christo Wiese, whose investment share price is down around 20% this year based tycoons. Mouton Foundation initiatives empire is famously run from an office in the despite indications that the underlying Johann Rupert – whose family controls The Mouton family explain that the unfashionable Parow East hub. operating businesses are performing as well investment companies Reinet and luxury foundation has established, and cur- Wiese – thanks to his holdings in retailer as could be expected in a tough operating brands conglomerate Richemont – has seen rently oversees: Shoprite and conglomerate Steinhoff environment. a muted performance from investment giant • Four multi-purpose community International – remains one of the wealthiest Wiese’s property and financial services Remgro. Remgro – which holds investments centres; individuals in South Africa. company Tradehold – which owns a serious in private hospitals group Mediclinic, • Three fully equipped Early Child- But some of Wiese more peripheral – swathe of UK and African property - has banking group FirstRand, insurance cluster hood Development Centres run by although not insubstantial investments – also suffered, and its value has dropped RMI, liquor group Distell and consumer the Pebbles Project - the official have been seriously mauled in the last 12 15% this year and over 30% on a 12 month brands giants RCL Foods and Unilever SA education partner to the Mouton months. basis. – has lost around 7% of its value in the year Foundation - which is currently Shoprite’s value has held up well over the Wiese’s commodity investments – to date and 13% over 12 months. educating 80 children up to the age past year, rising 22%. But Steinhoff – where namely diamond miner Trans Hex Group Jannie Mouton’s PSG Group – which owns of five; Wiese has a large minority shareholding and mining conglomerate Pallinghurst interests in Capitec Bank, Pioneer Food, after swopping in his holdings in Resources – have also not exactly sparkled, Capespan, retailer Kaap Agri and private • A mobile library and learning Stellenbosch-based financial services group respectively dropping in value by 9% and education group Curro - has probably fared centre. This travels out to the more PSG and his large stake in fashion retailer 30% so far this year. best of all with its value up 6% in the year to remote farm centrers, delivering Pepkor – has fared poorly, dropping in value Wiese biggest blow – but fortunately his date and nearly 30% over 12 months. books, videos, educational toys and by some 15% over the last 12 months. smallest investment – has come from an The marked fall in value of many of games to the children; But Wiese’s portfolio has taken a real investment in Stellar Capital Partners. This Wiese’s investment holdings might stem • Three after school clubs which care beating on his large stake in R30bn specialist investment company – which from the fact that he has, or can afford to for 170 children every day after investment company Brait, which has holds controlling stakes in Steenberg-based have, a higher appetite for investment risk. school whilst their parents are at suffered after making an ill-timed asset manager Prescient, Retreat-based But Wiese has previously endured tricky work. The children also receive a investment into the difficult UK fashion electronics manufacturer Tellumat, security investment periods, remembering his brief meal and academic intervention as retailing market via First Look. Brait’s value technology specialist Amecor and industrial dalliance with the financial services sector well as fun arts and crafts activities on the JSE has dropped by 32% so far this supplies group Torre – has dropped in value in the late nineties via Boland Bank and and sports; year, and by a hefty 56% over the last 12 by 44% this year alone and by over 50% over months. a 12 month period. Continued on P2 Continued on P2 We have just received a new shipment with imperial bolts & nuts, cap screws and rods! best service | competitive price | high stock availability Imperial Bolts & Nuts 2 CBN July 2017 IN THIS ISSUE Cape fortunes fall 15 Maritime & Ports Continued from P1 19 Materials Handling & BoE. This was also tempted to increase enviable results with an put further pressure surprisingly stepped Equipment the time when Wiese positions where value increase in revenue of on the share price. down last month. capitulated at Monex, has fallen beyond 8.4% to R11.5 billion So far Wiese has not There may be an 23 Electrical the then owner of reasonable value levels. turned into a 26% showed an inclination effort to unlock the a newly developed For example, at the increase in bottom line to acquire more Brait value from Stellar 24 EDS Profile Century City and Canal end of May Wiese had profits to R533 million. shares, and perhaps by selling off the Walk shopping centre. already confidently Invicta directors said this is a sign that individual investments. 25 Industrial Gas Subsequent investors spent R55 million to the company remained further price weakness Quite possibly the stake the Rabie Group and pick up more Tradehold resolute in its efforts to is possible. in industrial supplies 26 Safety & Security Hyprop made a mint shares, which were produce results above He has also refrained group could be dangled from these assets in trading close to a 12 market benchmarks from additional in front of Invicta, and 28 Stainless Steel Materials later years. month low. and its competitors. share purchases at Wiese may have plans Is Wiese likely to Whether Wiese looks They added that the commodity investments to incorporate asset 29 SEZs & IDZs retreat from any of to increase his holdings businesses that made Pallinghurst and Trans manager Prescient with his current investment in other companies up Invicta had strong Hex despite both share other financial services 30 Water Engineering positions where value where share prices have fundamentals and prices looking weak. holding housed in has been badly eroded? been battered remains enjoyed a significant CBN, however, Tradehold. 32 On the Contrary Probably not. Wiese to be seen. competitive advantage. believes Wiese could It seems there could is a cool customer, and CBN suspects Wiese Brait recently take more of an active be some interesting 32 The Other Side of the Coin not easily spooked by might well have a released some rather role at Stellar Capital months head for Cape short term damage. In flutter at Invicta, which shoddy financial Partners, where Town’s serial risk taker, fact, Wiese might be recently published results, which has CEO Charles Pettit indeed. A cuppa good cheer Century City today an Continued from P1 integral part of Cape Town’s • Tertiary study bursa- the soccer league, Farming Operations, ries for employees’ netball club and which led to the es- property scene children, with 20 small farm schools tablishment of a 50% students currently that would other- worker owned business, AN unusable waste- enrolled for a vari- wise not have access Bergendal Rooibos Pty land – a marshy piece of ety of courses; to these facilities. Ltd, on the farm where ground. Most property • A full-time nurse These institutions I was raised. This new developers wouldn’t and a mobile health are further sup- company, which created look at it twice. But service which visits ported through 96 new jobs, exclusively that’s the site of what’s all the employees donations from the processing and packag- now Century City in on the farms. The Foundation. ing Rooibos for Car- Cape Town. It’s taken mién Tea.” Mouton Foundation Where it started visionaries to see the “Every time a cus- nurse practitioner potential.

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