Construction and engineering group Group Five said on Monday it was evaluating alternative funding options, including an equity raise, to improve its cash position.The news came less than two months after the struggling company secured R650m in bridging loans from a consortium of banks, as well as a commitment from creditors not to turn off their credit lines.Group Five is shaking up its portfolio through selling noncore assets to help it over a tough environment in the construction industry, which recently forced Basil Read into a business rescue.Large infrastructure projects have been few and far between in SA as a result of low economic growth, leading to intense competition.The company said in a statement that it was looking to sell the remainder of the manufacturing cluster, after the successful sale of its pipe business for R80m. The completion of the delayed Kpone power project in Ghana — which cost the company dearly in its recent interim results — was scheduled for the end ...
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