We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Coming just one week after Steinhoff released its much-anticipated 2017 annual report it’s impossible not to feel a sense of foreboding when Tongaat announces it is negotiating a standstill agreement with its banks. The issues plaguing Tongaat are in no way as formidable as those at Steinhoff, but there are indications that Tongaat’s communication with the outside world is not everything it is cracked up to be. How else can you explain the shock that appears to have greeted the cascade of grim news out of the group since former CEO Peter Staude left last October. A shock best revealed in the collapse of the share price.It must be a tad embarrassing for investment analysts who awarded Tongaat the prize for best communicator on the JSE at a ceremony last June.It must also cause a little discomfort to the banks and investors who might have been encouraged by the “multiple regular meetings” between themselves and the CEO, CFO and key executives referred to in Tongaat’s 2018 annual repor...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.