THE WEEK AHEAD
MONDAY: These days a visit by a Malaysian business delegation is bound to result in a substantial wave of investments. Nothing less can be expected when Malaysian president Mahathir Mohamad arrives in South Africa this week as part of a three nation visit to the sub-continent. He brings with him a large business delegation which is eager to seek new opportunities in a country in which they are already the largest foreign investors since the 1994 general election.
TUESDAY: The Constitutional Court today hears an application by 7-Eleven, the Cape-based supermarket chain, to remove restrictions on alcohol sales by supermarkets. The move comes amid the snail-pace deregulation of the liquor industry, which is under investigation by the Department of Industry. According to the current law, supermarkets can sell wine but not beer. The proposed deregulation has been fiercely resisted by shebeen and bottlestore owners, who warn that their businesses will be in jeopardy if the court grants the application. s say they will picket SAB depots today.
WEDNESDAY: The latest chapter in Rainbow Chicken's tale of woes will be unveiled today when the group reports its year-end results to end-March. Since posting an interim loss of R165-million last November, the group has imposed a blanket ban on any disclosure of its misfortunes. This has been extended to new Mexican MD Jorge del Corral, who was appointed amid much fanfare earlier this year but has yet to make his public debut. Reliable predictions of the year-end losses are not available but range from R190-million to R250-million. The results of Rainbow's parent group, HL&H, are likely to mirror those of its major operating company. At the interim stage, HL&H reported a loss of just under R12-million.
THURSDAY: NBS releases its last year-end results before its merger with Boland Bank, which has created South Africa's fifth-largest banking group with combined assets of R28-billion. If the merger had been effective last year NBS Boland would have reported joint net income of almost R240-million and produced returns on assets of just over 1.1%. For the record, in the year to end-March 1996 NBS lifted attributable income by 38% to R279-million and analysts expect another strong performance in financial 1996/97.
Other companies reporting this week include FNB, Edgars, DiData and BOE.
FRIDAY: Toyota hosts its first AGM since Japan's Toyota Motor Corporation bought a 27.8% stake in the company in October last year for almost R450-million. The president of TMC, Hiroshi Okuda, is in the country to assess the impact of the merger and to provide an outline of the group's role in the global Toyota network.