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Suspension Of Listing Of Shares

12th June 2019 The decision this week by the Board to request the suspension of the listing of Tongaat Hulett shares on the Johannesburg Stock Exchange was voluntary, and followed the recently announced delay in publishing our financial statements and the ongoing review into past financial practices. The reason... 

Tongaat’s shares suspended amid ongoing review

By: Tasneem Bulbulia     10th June 2019 Trading in Tongaat Hulett’s shares on the JSE and LSE has been suspended at the request of the company. This is as a result of the previously announced delay in the publishing of the company’s financial statements and the continuing review into past financial practices and follows further... 

Steinhoff, Tongaat woes raise South African auditor scrutiny

By: Bloomberg     10th June 2019 Steinhoff International’s financial scandal and sugar maker Tongaat Hulett’s admission it may need to restate results is spurring South African auditors to weigh tougher measures for the profession. While auditors are expected to reassure the public that the financial statements they have signed... 

Tongaat’s shares fall as it announces plans to restate 2018 financial statements  

By: Tasneem Bulbulia     31st May 2019 JSE-listed Tongaat Hulett's share price on the JSE fell by nearly 10% on Friday afternoon after it announced that it would have to restate its financial statements for the financial year ended March 31, 2018, as a strategic and financial review had revealed “past practices which are of... 

Tongaat to restate prior results after review

By: Reuters     24th April 2019 South African sugar producer Tongaat Hulett said on Wednesday it expects to restate prior financial information, after a review showed some accounting practices that might require remedial action. "The implementation of a turnaround plan resetting the financial and commercial priorities,... 

New tech helps mills improve factory control

By: Khutso Maphatsoe     29th March 2019 During this year’s sugar season, centralised scientific organisation Sugar Milling Research Institute NPC (SMRI) says South African sugar mills will use its Near-Infrared Spectroscopy (NIRS) analytical system to improve their sugar production and profits. Through the SMRI-NIRS system installed at... 

Sugar industry job loss claims are premature – Treasury

By: African News Agency      28th March 2019 The South African Canegrowers Association recently claimed that the sugar tax has cost the industry R925-million in the 2018/19 season, while the DA has claimed that over 1000 jobs had already been lost due to the tax. But National Treasury’s Mpho Legote said that any current estimates are... 

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