Concerns that the Fed will have to wrestle with elevated inflation for a long time slowed this week’s rally
Given the prospect of a new governing coalition taking the reins in 2024, they should get to work on formulating a stance
The state-owned ports operator is seeks private investment to expand Durban and Ngqura port facilities
The ruling party gathering hit by litigation and a breach of security allegedly leading to the cloning of delegates’ tags
The firm is looking to reduce volatility for investors, but adds that being listed on the JSE no longer enhances access to capital
Consumer finances crumble under the pressure of rising prices and interest rates, Unisa vulnerability report shows
Group homes in on home deliveries trend and hopes to supply electricity to Eskom
GOP questions FBI’s actions after search warrant shows motive was possible Espionage Act violations
Reece James seemed to have sealed the points for the hosts with a 77th-minute goal, but the striker scored in stoppage time
Rushdie’s condition is not immediately known
Group Five’s construction subsidiary will have a cash shortfall of R2.4bn in the year to end-June 2019, it says. Group Five’s board on Monday instituted business-rescue proceedings because its wholly owned subsidiary G5 Construction could not secure additional funding to meet working capital requirements.
Group Five has filed a notice with the Companies and Intellectual Property Commission (CIPC), an agency of the department of trade, whose functions include licensing business-rescue practitioners.
In the notice, which is a legal requirement to give the business-rescue proceedings effect, Group Five disclosed details of its board meeting held in Sandton last Monday morning, at which the resolution to go into business rescue was taken.
In the notice, the company’s acting CEO Thabo Kgogo laid bare the extent of G5 Construction’s financial state and its urgent financial needs. “It is estimated that the G5 Construction Group, under current market conditions, requires R3.6bn to fund its ...
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 firstname.lastname@example.org 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.
Please read our Comment Policy before commenting.