Weekly Press Review – 26 March 2018

Integrated logistics service supplier, Grindrod, has decided to sell and separately list its loss-making shipping business on the US Nasdaq Stock Exchange, with a secondary inward listing on the JSE.

According to the press, as part of Grindrod’s restructuring, the company has also decided to close its rail assembly business. It is proposed that the shipping business would be sold to Grindrod Shipping Holdings, an independent and newly incorporated Singapore registered company for R3.75 billion.

Five people involved in a multimillion-rand abalone poaching syndicate were sentenced in the Western Cape High Court this week after being found guilty of charges including contravening the Marine Living Resources Act, as well as the Prevention of Organised Crime Act.

According to the press the Hawks, the National Prosecuting Authority (NPA) and the Department of Agriculture, Forestry and Fishing (DAFF) have all praised the sentencing. A DAFF spokesman said,” The department understands the enormous complexity of abalone poaching and smuggling. Therefore, heavy jail sentences against smugglers of abalone are needed.”

A meeting to discuss the odour from a fishmeal factory in Hout Bay was cancelled at the 11th hour when city officials did not arrive.

According to the press, Fresh Air for Hout Bay (FAHB) has complained that the emissions from the Lucky Star factory are a health hazard, despite the renewal of the Atmospheric Emission Licence by the city last year.

“We understand the factory cannot shutdown overnight due to the significant and real impact it would have on the broader community. FAHB has never advocated for the closure, but has instead advocated that the government needs to demonstrate it has a plan to resolve this situation: a harbour development plan that meets the socio-economic needs of local groups while addressing the concerns of residents regarding the air emissions,” said Kiara Worth, FAHB representative.

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