CORPORATE GOVERNANCE
Tongaat: it’s much worse than you think
The sugar company was already in perilous financial territory, but the steady drip of fresh calamities just gets worse
06 June 2019 - 05:00
Sugar company Tongaat Hulett may be in a far more precarious financial position than it has officially told the market.
Adding to a widening accounting scandal, there are now concerns that dangerously high levels of debt at Tongaat might prove crippling to shareholder value, if its executives — now led by recently appointed CEO Gavin Hudson — are hesitant to grasp the nettle...
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