Former Steinhoff CEO was invited to appear before a joint meeting on Wednesday of four committees, including those of finance and public accounts.
PwC is currently conducting a forensic investigation into the Stellenbosch-headquartered firm’s books.
The standing committee on finance will roll up its sleeves for a full day of hearings into Steinhoff, KPMG, VBS Mutual Bank, and SARS
The Hawks have told the Standing Committee on Public Accounts that the report contains ‘nothing’
The conglomerate has been facing liquidity issues since early December, when the group’s auditors flagged financial irregularities in its financials.
A number of cases brought before the courts have started to build a framework to guide class actions. But there is still a gap
Its share price has plummeted and investors are waiting for the results of an investigation
After a long silence over the Steinhoff International saga, which cost investors R200-billion, investigators are now kicking up the dust.
Capitec stock fell by about 20% when Viceroy Research released a report claiming that Capitec bank “is a wolf in a sheep’s clothing and a loan shark”
In a new 33-page report, published and uploaded to the Viceroy website, the short sellers said they did not buy Capitec’s ‘good news story’.
The Steinhoff case highlights weaknesses in the governance structure the company had chosen to operate under.
It appears US banks lost $1-billion when they loaned to the tycoon who used his Steinhoff shares as collateral
‘Opening licensed markets to less regulation would yield a net good for South Africa,’ says the writer
Major investors are waiting anxiously, as the company needs to produce financials by the end of January if its shares are to continue trading
Last month, Steinhoff revealed it was under criminal and tax investigations, with a reported six-billion-euro ($7-billion) hole in its accounts.
The corporate scandal will do South Africa a huge service if it makes the point that corruption and mismanagement have nothing to do with race.
A suit of highly paid professional services seem to have failed investors in the unfolding Steinhoff corporate scandal
‘Just a heads-up that this year’s Secret Santa cap has been dropped to R500 000 post-tax, down 50% from last year’s record high of R1-million’
Futuregrowth dumped its shares in the company years ago because the warning signs were clear
‘The entire, vast, expensive edifice of surveillance and control failed’
The JSE will be conducting an internal audit into the holdings company and is expected to report its findings to the minister of finance.
Allegations of earnings manipulations, uncontrolled acquisition sprees and tax fraud are just the tip of the iceberg for the retail holding company
Household goods company Steinhoff announced on Fridayall the resolutions required to approve the Conforama transaction were passed without opposition.
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/ 10 September 2009
South African furniture maker and retailer Steinhoff will replace insurer Discovery on the top-40 index, bourse exchange operator JSE said.
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/ 26 February 2008
South African stocks were sharply higher at midday on Tuesday following in the footsteps of European markets, but a stronger rand restricted gains. Above-forecast economic growth data added to the positive sentiment. At 11.59am, the all-share index was up 1,22% at 30 176,680, thanks to a 3,08% gain in banks.