What does Tongaat Hulett Starch do?
What does Tongaat Hulett Starch do?
TONGAAT HULETT IS AN AGRICULTURE AND AGRI-PROCESSING BUSINESS, FOCUSING ON THE COMPLEMENTARY FEEDSTOCKS OF SUGARCANE AND MAIZE. THROUGH ITS SUGAR AND STARCH OPERATIONS, TONGAAT HULETT PRODUCES A RANGE OF REFINED CARBOHYDRATE PRODUCTS FROM SUGARCANE AND MAIZE, WITH MANY PRODUCTS BEING INTERCHANGEABLE.
Who is the CEO of Tongaat Hulett?
John Gavin HudsonTongaat Hulett / CEO
How many employees does Tongaat Hulett have?
It employs over 35,000 people, working in about 25 locations in 6 countries, South Africa, Botswana, Namibia, Swaziland, Mozambique and Zimbabwe.
Who owns Huletts sugar?
The Tongaat Hulett Group
In 2006 Anglo American sold its 50.4 percent stake in Hippo Valley Estates to Triangle Sugar, the Zimbabwean unit of Tongaat-Hulett. Triangle Limited is an agri-based sugar company and is wholly owned by The Tongaat Hulett Group.
Who bought Tongaat?
Magister Investments
The competition commission announced on Monday that it had approved the takeover of Tongaat Hulett by Magister Investments, with conditions. Mauritius-based Magister Investments has committed some R2-billion to underwriting a Tongaat rights issue, meaning it will own 60% of the latter’s shares.
Will Tongaat Hulett recover?
Sugar manufacturer Tongaat Hulett is determined to recover R450-million in civil damages from former executives….Tongaat determined to recover R450m in claims against former execs.
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Who audited Tongaat?
Gavin Kruger
The group of former executives charged over the fraud includes Deloitte audit partner Gavin Kruger, who was responsible for auditing Tongaat’s books; former chief financial officer Murray Munro; former property division head Michael Deighton, finance section head Rory Wilkinson; legal executive Kamlasagrie Singh and …
Who is Peter Staude?
Former Tongaat Hulett CEO Peter Staude and six others, some ex-directors, charged in a R1. 5 billion fraud case involving the sugar producer have been granted R30 000 bail each. The seven were granted bail during their first appearance before the Durban Specialised Commercial Crimes Court on Thursday morning.
Is Tongaat Hulett a South African company?
Overview. Tongaat Hulett Sugar’s proud history in South Africa dates back to its beginnings in 1982. We operate three sugar mills in South Africa – Maidstone, Amatikulu and Felixton – with the capacity to crush over 4.8 million tons of sugarcane annually.
Who is buying Tongaat?
The competition commission announced on Monday that it had approved the takeover of Tongaat Hulett by Magister Investments, with conditions. Mauritius-based Magister Investments has committed some R2-billion to underwriting a Tongaat rights issue, meaning it will own 60% of the latter’s shares.
Who bought Tongaat Huletts?
It has emerged that Magister Investments, the obscure Mauritian company planning to take control of Tongaat Hulett, has a 41% mystery shareholder who has been identified only as “family” of the public face of the controversial deal — Zimbabwean businessman Hamish Rudland.
Who is Rudland family?
The Rudland family has been identified as one of those, with Simon Rudland becoming a huge player in the sale of illicit cigarettes in SA as majority owner of Gold Leaf Tobacco, while his brother Hamish has run the family transport business.
Is Tongaat a good share to buy?
With improved growing conditions and better import controls likely to benefit the company, Tongaat Hulett shares should experience further growth and are a good buy.
Who are the auditors of Tongaat Hulett?
The group of former executives charged over the fraud includes Deloitte audit partner Gavin Kruger, who was responsible for auditing Tongaat’s books; former chief financial officer Murray Munro; former property division head Michael Deighton, finance section head Rory Wilkinson; legal executive Kamlasagrie Singh and …
What could be the consequences for misrepresentation in financial statements?
If your reporting is inaccurate, that can lead to legal trouble, stock prices dropping and bad company decisions.
How did Tongaat get its name?
The name Tongaat was taken from the nearby River Tongati, the Zulu word for the indigenous trees that flourish on the river banks.
When was Tongaat founded?
Tongaat was established in 1945 and its name was taken from the name of the uThongathi River which passes by the town: The name of the river, derived from Zulu, is said to mean In 2017 plans were made for the restoration of the historic railway station building.
Is Tongaat a good buy?
Who bought Tongaat Hulett?
How old is Tongaat?
The company was formed as a result of a merger between the Tongaat Sugar Company founded by Edward Saunders and Hulett’s Sugar founded in 1892 by Liege Hulett.