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S&V Weekly Newsletter Vol. 4 No. 41, Oct 15, 2018

This Newsletter is sponsored by SAFLIA

Please note: Click on any ad to go to the advertiser’s website

 

Ex-Tekkie Town shareholders hit back at Steinhoff attempt to stop new business

Cape Town (SA) – Five former Tekkie Town shareholders last week filed affidavits in the Western Cape Division of the High Court of SA contesting the Steinhoff Group's efforts to prevent them opening a new retail business, Mr Tekkie, next month.
       In the case between Steinhoff subsidiaries Pepkor Speciality (Pty) Ltd and Pepkor Holdings Ltd versus Braam van Huyssteen, Bernard Mostert, Michael Brown, Gert Claassens and David van Niekerk (and a company, AJVH Holdings (Pty) Ltd), Mostert, on behalf of all the respondents, said Steinhoff was being cynical in trying to portray the respondents as dishonest, and in claiming that they had been paid "a handsome price" for their business.
       Steinhoff bought Tekkie Town in September 2017 for R3 257 million, paid for in Steinhoff shares, which in December crashed in value, and which were "the equivalent of fool's gold", he said.
       "...it seems incontrovertible that the truly reprehensible conduct has been that of Steinhoff, who, through the actions of its directors and with the apparent complicity of the applicants' directors, acquired assets in the form of Tekkie Town shares and business for an exchange consideration that represented a mere fraction of the value of these assets...and who then deliberately worked some of the respondents out of the positions that had been offered to them pursuant to the sale agreement and reneged on the promises...to pay very significant earn out bonuses to the former shareholders and indirectly benefitting the respondents who had interests in them. Seen in this light, it is apparent that Steinhoff...in fact swindled the former shareholders out of their shares in Tekkie Town."
       He said Steinhoff was trying to "stifle competition by an outfit that is more complementary to, than competing with, the business of Tekkie Town".
       Steinhoff is seeking to enforce restraint of trade agreements on the respondents until 2021, and Mostert said "taking into account the lengthy awaiting-trial roll and the very real possibility of a subsequent appeal, it seems unlikely that the action would be finally disposed of before the restraints (or at least the greatest part of them) would have run their course, even were they finally determined to be invalid."

Restraint Application - Answering Affidavit (main) (excluding annexures).pdf TT Restraint - CA - Van Niekerk (main).pdf

 

 

World Bank says SA has improved business regulations, but...

Washington DC (USA) – The World Bank has updated its 2015 report on 'Doing Business in South Africa', dealing with construction permits, getting electricity, registering property and enforcing contracts. The 2018 report measures the same 9 urban areas and 4 maritime ports covered in the 2015 study.
       In its main findings, it says:
- Cape Town leads on two indicators and Mangaung on two others. However, none of the 9 urban areas performs equally well across all indicators. That leaves room for all locations to learn from each other’s good practices.

- Compared globally, South African locations’ performance on the quality indices lags on most indicators. Because regulatory quality depends greatly on national instruments and actors, the central government can play a key role in improving local business conditions.

- Over the past 3 years, 5 locations implemented reforms making it easier to do business. Most reforms focused on getting electricity, with one related to registering property. The pace of reforms has been slow, but the successful reforms are notable for their significant impact.

- Good practices can be found in South Africa. As locations continue to engage in peer learning and take on new regulatory reforms, projects that address certain issues across indicators—such as internal coordination within the municipalities—will improve the prospect that reforms will bear fruit.

Dealing with 'trading across borders', its main findings are:
- Long port handling times and high border compliance costs are the main obstacles for exporters in South Africa.
South Africa’s largest and most congested port is Durban, while Port Elizabeth shows the best performance in port handling among the four ports assessed in this report.

- Completing customs procedures for exporting and importing is efficient and fast in South Africa, compared globally.

- Although the time to comply with all documentary requirements for exporters in South Africa is lower than the average for Sub-Saharan Africa, it is higher than for OECD high-income economies and BRIC economies.

- Customs and port authority initiatives have contributed to South Africa’s movement toward electronic transaction systems, but a single window for trade might further facilitate exports and imports.

Full Report PDF

 

 

Closures

Cape Town (SA) – Independent retailer Kris Karpinski has announced that he will close Shoe Stop at the end of October after 23 years' trading.

New Germany (SA) – ST Industrial Supplies, which specialised in supplying components to repairers, has closed, member KG Vandayar said.

 

 

Send us the links

We renew our invitation to send us links to websites, Facebook pages and the like which readers feel are of interest to others. These websites are from our database:
Addis Ababa Tannery - founded in 1925, is Ethiopia's oldest tannery: http://addisababatannery.com/ Adventure Inc - is a distributor providing premium equipment to niche outdoor and sports enthusiasts in South Africa: http://www.adventureinc.co.za/

 

They Said It

"Ben turned 72 this week…………….you do the maths and fill in his year of birth. Unless you can’t do maths!? LMAO!!!." - Leather Link's Hugo Zuanni. He was referring to our birthday list last week, which included Ben Cartoon of Paris Belts on October 8. Ben had been a bit coy about the year, but Hugo's gone where others might fear to tread. And 'LMAO'? I was surprised to find that Google can explain it.

 

 

Exchange rates

Source: http://www.x-rates.com/calculator/

 
  Euro € GBP £ US $ Yuan Renminbi ¥
11/12/2017 R15.82 R17.99 R13.40 R2.03
05/01/2018 R14.86 R16.69 R12.33 R1.90
13/01/2018 R15.14 R17.03 R12.41 R1.92
22/01/2018 R14.76 R16.75 R12.08 R1.88
26/01/2018 R14.74 R16.79 R11.86 R1.87
05/02/2018 R14.96 R16.89 R12.02 R1.91
12/02/2018 R14.64 R16.51 R11.95 R1.88
16/02/2018 R14.43 R16.30 R11.63 R1.83
23/02/2018 R14.19 R16.12 R11.54 R1.82
05/03/2018 R14.60 R16.39 R11.85 R1.86
12/03/2018 R14.58 R16.43 R11.82 R1.86
16/03/2018 R14.72 R16.70 R11.97 R1.89
23/03/2018 R14.53 R16.60 R11.75 R1.86
03/03/2018 R14.58 R16.62 R11.83 R1.88
11/04/2018 R14.75 R16.91 R11.93 R1.90
16/04/2018 R14.89 R17.23 R12.04 R1.91
23/04/2018 R14.99 R17.11 R12.27 R1.94
30/04/2018 R15.06 R17.16 R12.47 R1.96
07/05/2018 R14.96 R16.98 R12.55 R1.97
14/05/2018 R14.60 R16.54 R12.21 R1.92
22/05/2018 R14.84 R16.92 R12.61 R1.97
28/05/2018 R14.47 R16.55 R12.43 R1.94
04/06/2018 R14.70 R16.78 R12.54 R1.95
11/06/2018 R15.46 R17.55 R13.10 R2.04
18/06/2018 R15.63 R17.83 R13.45 R2.09
25/06/2018 R15.89 R18.05 R13.60 R2.07
02/07/2018 R16.10 R18.18 R13.87 R2.08
09/07/2018 R15.79 R17.90 R13.41 R2.02
16/07/2018 R15.45 R17.50 R13.19 R1.97
23/07/2018 R15.82 R17.72 R13.52 R1.99
28/07/2018 R15.36 R17.26 R13.17 R1.93
04/08/2018 R15.40 R17.31 R13.31 R1.94
11/08/2018 R16.11 R18.02 R14.11 R2.06
18/08/2018 R16.75 R18.67 R14.64 R2.13
25/08/2018 R16.56 R18.29 R14.23 R2.09
01/09/2018 R17.09 R19.07 R14.72 R2.15
08/09/2018 R17.64 R19.71 R15.26 R2.23
15/09/2018 R17.37 R19.54 R14.94 R2.17
22/09/2018 R16.82 R18.72 R14.33 R2.08
29/09/2018 R16.46 R18.47 R14.17 R2.06
06/10/2018 R17.06 R19.43 R14.80 R2.15
13/10/2018 R16.81 R19.12 R14.53 R2.10

 

 

 

NSPCA again raids award winning Ukwanda farm

Issued on Friday, 12 October 2018
On 12 October 2018, the National Council of SPCAs (NSPCA) Farm Animal Protection Unit obtained a warrant to remove all the pigs from the award winning farm, Ukwanda Farm, in Winterton, Kwa Zulu Natal following major welfare concerns found during previous inspections.
       The NSPCA recently conducted an inspection at Ukwanda Farm and the conditions found on the farm were so severe that 18 Sows had to be humanely euthanized to end their suffering. The farm had insufficient food for the remaining pigs. Furthermore water samples were taken from the farm and tested, these were found to be positive for E.coli. Warnings in terms of the Animals Protection Act No 71 of 1962 were issued which the owner failed to comply with resulting in the removal of all the remaining pigs.
       The farm in question is owned by South Africa’s top commercial woman farmer for 2015 (Top Entrepreneur in the Commercial Sector) who has a current pending criminal case, with 5 counts against her in terms of the Animals Protection Act No 71 of 1962 since 2014. The NSPCA contacted the Department of Agriculture, Forestry and Fisheries (DAFF) to advise them of the pending criminal case after she was given the award, however the award was not retracted.
       Additional Charges in terms of the Animals Protection Act will be laid against the owner and/or other responsible persons.
       The owner was funded by Peulwana Agricultural Services to purchase the farm and in 2009, she had in excess of 60 000 layer hens and approximately 600 pigs. Today, the cages are empty and the NSPCA have removed the last remaining pigs.
       The winner of a prestigious award should have been a role model to other emerging farmers, especially women farmers, however an evident lack of interest by the Johannesburg based owner has sadly led to the demise of Ukwanda Farm. - Grace De Lange, NSPCA Farm Animal Protection Unit Manager, +27 (0)82 411 0567, farm@nspca.co.za

 

15/10/1949: Marianne McCulloch, retired, formerly Bolton Footwear, Oudtshoorn plant.
15/10/1956: Joseph Chiang, Sogo Trading, Bellville.
15/10/1967: Mohammed Reyaz Moosa, Selrite Fashions, Kempton Park.
15/10/1975: Debbie Ditchfield, machinery agent, Hillcrest.
15/10/1992: Umesan Gopal, Chillisource, Durban.
15/10/19??: Corrie Jurkewitz, Shoes & More, Gansbaai.
16/10/1946: Hannes Harding, FC&T Supplies, Pretoria.
17/10/1968: Mehmood (Joe) Mohamed, Rodrigo Footwear, Durban.
17/10/1984: SS Moosa, Shu-Tique Wholesalers, Pretoria.
18/10/1967: Chetan Jeram, Concept Distributors, Pretoria.
19/10/1966: Elize Strauss, Shoe ‘n Do, Reitz.
19/10/19??: Tony Jelinski, retired, formerly Everflex, Pinetown.
19/10/1944: Peter Manley, Secure & Safe Supplies, Durban.
19/10/1965: Björn Jönsson, Lanxess SA, Johannesburg.
20/10/1946: Steve Bassingthwaighte, retired, formerly agent, Cape Town.
20/10/1955: Dave McDonald, Labora Shoes, Durban.
20/10/1948: DK Pillay, Topline Manufacturers, Durban.
20/10/1957: Steve Dai, Bruce & Jason Trading, Cape Town.
21/10/1971: Derek Malcolm Creed, agent.
21/10/1976: Imraan Ahmod, Spunlok, Pinetown.

 

In Memoriam this week

15/10/????: Walter William ‘Wally’ Ballard (b. 28/11/1948), Reptile Trading Co, Cape Town.
15/10/2016: Des de Wet (b. 03/12/1940), agent, Amanzimtoti.
17/10/2005: Barney Dodo (b. 11/04/1914), Edworks group, Johannesburg.
18/10/2016: Lenny Jacobs (b. 27/07/1946), Lenny Jacobs Sales, Johannesburg.
19/10/2000: Bill Beckley, (b. 20/07/1927), agent, East London.

Have you let us know about your birthday, or the birthdays of your colleagues? Our readers love this section, so please become part of it. This also applies to the In Memoriam section. Help us remember former colleagues.

 

ABSA Agri Trends 12/10: Hides & skins prices

Whilst the better grades find a place in the market; the lower grade materials have not yet found a price point. Overall, the hide market sentiment remains bearish, in line with the weak international hide market. The average hide price over the past week was R5.00/kg green. NB* Hide prices are determined by the average of the RMAA (Red Meat Abattoir Association) and independent companies. The average price for Dorper skins was R30.56, and for Merino skins was R95.00.

Hide & skin price progression
Date Hides/Kg Dorper/Skin Merino Skin
19/01 15.34 45.56 81.38
24/01 15.17 40.92 89.52
31/01 15.10 46.00 94.55
14/02 14.65 47.33 95.29
15/03 14.25 39.30 78.75
24/03 14.13 45.27 94.45
28/03 14.07 45.27 94.45
04/04 14.83 41.92 87.58
11/04 14.68 41.92 84.12
19/04 14.77 43.85 92.32
25/04 14.75 41.25 92.27
04/05 14.79 43.33 92.69
10/05 14.75 40.50 88.41
16/05 14.58 40.83 90.96
31/05 14.62 40.50 87.95
09/06 14.58 41.82 96.35
23/06 14.40 40.42 101.25
29/06 14.30 41.36 98.44
07/07 14.33 43.33 100.94
13/07 14.37 44.44 114.58
28/07 14.14 43.64 97.50
04/08 14.16 43.69 99.64
14/08 14.08 38.99 92.75
18/08 13.70 43.18 98.96
25/08 13.93 43.75 100.96
01/09 13.14 44.09 101.25
08/09 12.88 41.82 100.83
21/09 12.64    
03/10 12.50    
11/10 12.52    
20/10 12.23 39.30 110.23
27/10 12.12 37.30 94.32
02/11 12.19    
10/11 12.24 37.00 101.75
30/11 11.82 32.56 94.25
07/12 11.76 35.50 92.50
14/12 11.53 35.50 91.86
02/02 10.39 32.50 92.22
09/02 10.17 33.13 91.27
16/02 9.94 32.50 88.26
16/02 9.94 32.50 88.26
16/03 9.62 33.75 90.50
23/03 9.56 32.22 87.63
06/04 8.86 36.67 82.50
13/04 8.98 35.00 81.25
23/04 8.40 35.13 86.00
26/04 8.18 34.13 86.11
07/05 7.89 33.33 83.13
18/05 7.71 33.50 82.22
25/05 7.78 31.38 86.06
01/06 7.74 30.71 95.89
08/06 7.43 31.67 87.50
15/06 7.67 32.11 87.40
22/06 7.60 32.50 86.70
29/06 7.13 32.78 86.50
06/07 7.04 32.14 86.67
27/07 5.85 40.56 96.83
10/08 5.32 34.44 87.10
23/08 5.34 36.00 91.00
07/09 4.61 35.45 95.18
14/09 4.65 30.00 99.36

 

Upcoming Trade Fairs

The SLTC 2019 Conference will be held on April 27 at the Park Inn, Northampton. See our website for details.

For a list of local and international trade fairs covering footwear, leather goods, leather and PPE, visit our website: http://www.svmag.co.za/events.php

  


Classified Adverts

 




Top sales skills on offer in W Cape

I have recently relocated to the Western Cape and am seeking employment in the retail/wholesale industry as a sales representative. I have more than 20 years sales and marketing experience in various international  footwear brands.
As a trusted advisor to my clients, I was well respected within the industry and had the ability to guide them to making well informed decisions, based on my extensive experience in the retail and sales and marketing arena. My in-depth knowledge of numerous well-known brands, is invaluable and ensures consistent client satisfaction and service delivery.
  I have also gained some valuable financial experience in setting targets and managing budgets to meet required outputs within stipulated time frames. - Gerrit Sander, 082 821 6769, gerrit.sander6@gmail.com.




Position sought

Devrajah 'Teddy' Moodley, former pattern room manager at Froggie and with 31 years experience, seeks a position in footwear manufacturing. He has a vast knowledge in the shoe Industry. - 083 280 6915, moodleyteddy8@gmail.com




In need of a boardroom?

SAFLEC, situated at 6 Stedman Mews, 128 Jan Hofmeyr Road, Westville, has a boardroom for hire.
       It seats up to 12 people around a table, and has space to add up to 15 more chairs in the room. You are welcome to view the room before hiring.
       For more information, please contact Louise on 031 266 1473 or louise@saflec.co.za.
We look forward to being of service.




  

Contact us

News & Classifieds: Tony Dickson, +27 (0)31 209 7505, tony@svmag.co.za

Next newsletter: October 22, 2018.

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