Protech awaits appointment of liquidator
In an update to shareholders, financially distressed civil engineering group Protech Khuthele Holdings, this week, said it was still awaiting the appointment of a liquidator.
This followed after business rescue practitioner Gavin Gainsford, earlier this month, determined that there was “ no reasonable prospect of rescuing” Protech Khuthele Holdings and its Protech Khuthele and Protech Readymix subsidiaries.
He subsequently filed an application to have these entities liquidated.
Protech Khuthele Holdings had filed for the business rescue of seven of its subsidiaries – Protech Khuthele Properties, Impact Compaction, Protech Khuthele Property Investments, Protech Readymix, Pela Plant, South African Road Testing Services and Protech Khuthele – on June 3.
The group had experienced significant financial difficulties in the year ended February as a 33.33% joint venture project in the Democratic Republic of Congo weighed on its performance.
Protech Khuthele Holdings had incurred an after-tax loss of R111.2-million for the financial year.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation