Resilient is not about to become the next Steinhoff, say analysts and fund managers. They've been scrutinising the listed property group in the wake of rumours that it was about to be exposed by Viceroy Research, the US outfit whose report on Steinhoff is thought to have contributed to the collapse of the multinational's share price. Analysts are determined not to be shown up as gullible fools again. Viceroy's report, titled Steinhoff's Skeletons: Off-balance Sheet Entities Inflating Earnings, Obscuring Losses, may have been the work of discredited activist short-sellers - they admit they made a fortune out of Steinhoff's collapse - but it was published a day after Steinhoff's announced CEO Markus Jooste had resigned and auditors Deloitte refused to sign off on the financial statements. So when Viceroy tweeted that it would be releasing a report about another South African company, Resilient's share price fell 28%, before recovering. The question is why Viceroy might want to target ...

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