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There was no shortage of enthusiasm for the recently released first-quarter numbers from fleet management and vehicle-tracking specialist MiX Telematics from US-based analysts who participated in the investment presentation last week. Whether many local analysts share this upbeat sentiment is not discernible. I did not hear any familiar voices of local investors during the question session after MiX’s presentation. MiX has a primary listing on the JSE that came about from an unbundling out of automotive components group Control Instruments. It also has American depositary shares listed on the New York Stock Exchange (NYSE). Pitching depositary shares to US (and international) investors is smart, as MiX’s "homegrown" tracking business has rapidly evolved into a compelling global technology offering. International customers include Schlumberger, Halliburton, Praxair, DHL, Baker Hughes and Linde. Judging by the pointed questions at last week’s presentation, US analysts "get" MiX’s busi...

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