Sep 03, 2009
Daily Podcast - September 3, 2009Back
Johannesburg|Absa Capital|Merchant Bank|Murray & Roberts|Rand Merchant|South African National Roads Agency Limited|Republic Of South Africa|South Africa|Zimbabwe
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Thursday, September 3, 2009.
From Creamer Media in Johannesburg, I'm Jonathan Faurie.
Making headlines today:
Construction and engineering group Murray & Roberts said this week that it had lodged a formal objection with the Director General of the Department of Trade and Industry over allegations of it participating in collusive practices.
The group also categorically denied any involvement in collusion in the construction industry.
The Competition Commission on Tuesday announced that it had started an industrywide investigation into potential collusive practices in the construction sector, which would include some of South Africa's largest construction groups.
The Commission noted that it has, since March, received a number of applications for corporate leniency from construction companies for collusive practices with respect to certain construction projects.
A preliminary investigation undertaken by the Commission on the identified projects had indicated that there could be widespread collusion in the construction industry
The South African National Roads Agency Limited (Sanral) has raised a further R750-million in the second auction under the domestic medium-term note programme, bringing the total amount of funding raised for its R25-billion toll road expansion programme to R12,2-billion.
The agency announced on Wednesday that it had received bids totalling R1,8-billion, but that R750-million of bonds had been allocated at market spreads of 0,75% and 0,77% over the Republic of South Africa's government benchmarks.
This tapped into Sanral's two bonds with maturities in 2020 and 2034 and carried a full guarantee from the South African government.
Absa Capital and Rand Merchant Bank were appointed as joint lead arrangers and market markers on Sanral's Bond Exchange of South Africa-listed domestic medium-term note programme.
Also making headlines:
ICT could play key role in greener building.
That's a roundup of news making headlines today. For more on these and other stories please visit engineeringnews.co.za.
Edited by: Jonathan Faurie© Reuse this Comment Guidelines
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