Posts

Hyprop total distribution up 7.3%

Hyprop total distribution up 7.3% Half-year distribution growth 10.4%. (I-Net Bridge) - The country's largest listed specialised shopping centre fund, with 12 directly owned shopping centres, Hyprop Investments (HYP,) has declared a total distribution for the year ended December of 383 cents per combined unit, an increase of 7.3% on the previous year. The final distribution of 137 cents, together with the special distribution of 65 cents paid on 17 October 2011, reflects aggregate growth of 10,4% compared with the corresponding period in 2010. Headline earnings per combined unit for the half-year were 406.3 cents versus 465.8 cents previously. Like-for-like growth from Hyprop's shopping centres in revenue and distributable earnings was 8.0% and 7.4%, respectively. Property expenses increased by 9%. Canal Walk and The Glen performed particularly well during the year, with distributable earnings growth of 9% and 10%, respectively. Distributable earnings from hotels reduce

EXCLUSIVE: Rael Levitt says it’s “personal”

EXCLUSIVE: Rael Levitt says it’s “personal” Says allegations are a “well-orchestrated and well-funded” attack. Allegations of foul play against Auction Alliance and its founder Rael Levitt are a “well-orchestrated and well-funded” attack on a company with a clean track record. On Tuesday, Levitt stepped down as CEO of the company. In an exclusive interview with Moneyweb, Levitt spoke out on the allegations of kickbacks, ghost bidders and collusion levelled against himself and his business. The claims stem from a Saturday Star report that a 13-year old paper trail revealed the company had paid kickbacks to attorneys, liquidators, and bank staff to ensure business went their way. The report also stated that billionaire Wendy Appelbaum was disputing the legality of an auction where she bought the wine estate Quoin Rock. The National Consumer Commission and the Estate Agency Affairs Board have confirmed that they are investigating Auction Alliance. Auction Alliance’s board has als

EAAB appoints inspectors to probe Auction Alliance

EAAB appoints inspectors to probe Auction Alliance Investigating allegations of foul play. JOHANNESBURG - The Estate Agency Affairs Board (EAAB) has appointed independent inspectors to look into the allegations of foul play against Auction Alliance. This comes after Auction Alliance’s board set up its own probe into claims of collusion between the firm and its CEO Rael Levitt, and banks, liquidators and attorneys. The claims stem from a Saturday Star report that a 13-year old paper trail revealed the company had paid kickbacks to attorneys, liquidators, and bank staff to ensure business went their way. The report also stated that billionaire Wendy Appelbaum was disputing the legality of an auction where she bought the wine estate Quoin Rock. Appelbaum claimed she later found out she was the only genuine bidder and consequently lodged a complaint with the National Consumer Commission, citing irregularities. Levitt responded by suing her for defamation. According to Margie Campb

Denny Crane

Denny Crane
It's not me ... yet. Denny Crane from the TV series Boston Legal. Click on picture if you're not sure who he is!