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March 18, 2009
RMB's creation limps out with a whimper
Makalani Holdings (JSE:MKL) was welcomed to the JSE lists in 2005 and quickly earned a following from fans of the genius of Rand Merchant Bank. Now the R2,7bn company that provides mezzanine finance to BEE deals is gradually winding itself up - one of dozens of companies trading on the JSE under a question mark.
The stock market rout has highlighted that the JSE is riddled with companies apparently on a road to nowhere. A good percentage are sustaining losses, some year after year. Others have few or questionable assets and a lot of debt and virtually all their share prices are down heavily on the year. Some minnows have a staff of three or four.
Posted by StaffWriter at March 18, 2009 8:01 AM