BRIAN KANTOR: Market values secures solvency
Maersk argues ICTS used its share market value rather than its book value to calculate its ‘solvency ratio’ for the Durban port tender
27 September 2024 - 05:00
I read with some astonishment about the court action taken by shipping company Maersk to overturn Transnet’s decision to award the Durban Container Port tender to Philippine Company International Container Terminal Services Incorporated (ICTS).
The challenge is on the grounds that the tender should have been disqualified because it used its share market value rather than its book value to calculate and report its “solvency ratio”...
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