Industrial metals continue momentum as investors cheer another better-than-expected inflation report in the US
The unskilled workforce in particular will be affected by the steps the country will be compelled to take
Some of the employees of the arms manufacturer have not been paid for more than two years
The premier announced her cabinet after a meeting with the ANC’s deployment committee and its alliance partners
The Walt Disney business bets on ad-free viewing as it hikes premiums
Stats SA says ongoing power cuts limited recovery in the sector and reduced production volumes
The improved sentiment is a result of increased merchandise export and import volumes and more new vehicles sold, Sacci report says
Soldiers say they killed scores of attackers during hours-long bombardment that included drones, car bombs and artillery in southern Mali
Top swimmers have a rivalry that could develop into one of SA sport’s greatestt
The Italian SUV outguns the Bentley Bentayga's record
Listed infrastructure development group Raubex has no immediate plans to splash out even though it has cash of almost R1bn on its balance sheet.
The group, which has operations in SA, Botswana, Namibia, Mozambique, Cameroon, Zambia and Western Australia, has said it expects the overall conditions in construction to remain dire as the sector reels from a slow roll-out of infrastructure spend.
Amid a dearth of construction projects in SA, Raubex is hoarding cash and preferring to maintain a strong balance sheet. In the year to end-February, Raubex’s cash and cash equivalents was R962.6m.
Raubex is in no hurry to spend the cash, especially not in the current unfavourable environment in which the value of many construction companies has been obliterated due to the lack of infrastructure spend.“There are always opportunities coming through. We are conservative. We are trying to protect our cash because we believe that these tough times will need a strong balance sheet,” CEO Rudolf Fo...
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 email@example.com 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.