COMPANY COMMENT: Investec Australia Property Fund
JSE-listed Investec Australia Property Fund snaps up sought-after offices Down Under
News that six well-known construction companies in SA have volunteered to inject R1.25bn into transformation in the industry over and above the R1.46bn in penalties imposed by competition authorities is welcome. But what does this really mean? JSE-listed construction groups Wilson Bayly Holmes-Ovcon (WBHO) and Group Five, Stefanutti Stocks, Raubex, Basil Read and Aveng say this will settle collusion claims in the sector, but not entirely. Attempts by Business Day to obtain a digital copy of the agreement between the government and these construction groups in order to name "certain identified public entities" have so far been to no avail. So, some smoke and mirrors still prevail. It turns out that Murray & Roberts is a seventh company that might join the agreement, and soon. The group says it is still in consultation with the government regarding its "potential participation in the agreement" and will revert within a week. The main aim of the agreement, it says, is to strengthen the...
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