1998: Titanic becomes the first film to gross US$1 billion (about R14 billion).

Be nice today and don’t be shy to pass a compliment on World Compliment Day as we humans do have a basic need for recognition and appreciation.

TRADE BALANCE IN DEFICIT

South Africa's trade balance swung to deficit of R13.08 billion in January from a revised R16.70 billion surplus in December, official data showed yesterday. Exports fell by 13.3% on a month-on-month basis to R88.68 billion in January, while imports rose 18.9% to R101.76 billion, the South African Revenue Service data showed. (Reuters)

COURT PUTS HALT TO EXPANDED MINING STRIKE

The labour court has ordered a mineworkers' union to suspend its plans for an industry-wide strike from February. 28 to March 7 until it issues a ruling on whether to block the action, the union and producer Lonmin said yesterday. The Association of Mineworkers and Construction Union (AMCU) has been on strike at Sibanye-Stillwater's gold operations since mid-November in a pay dispute and announced on Tuesday it would extend the strike to platinum and other mines. Producers applied for a court order to block the action. At least 11 firms would have been affected by an extended sympathy strike, including AngloGold Ashanti, Harmony Gold, Anglo American Platinum and Lonmin. "The South African Labour Court yesterday ruled that the intended secondary strike at Lonmin's operations is suspended pending judgement in due course and operations continue normally," Lonmin said. The court did not set a date for the next hearing. (Reuters)

STATE CAPTURERS LOOTED FROM THE POOR - MANUEL

Former finance minister Trevor Manuel has said that state capture was an endeavour to remove the controls enshrined in the Public Finance Management Act (PFMA). Testifying at the Zondo inquiry into state capture yesterday, Manuel said that when these controls were removed and reckless spending occurred, the poor were directly affected. “When we drafted the PFMA, there was a fundamental shift from the old norms. The focus was on outputs and responsibilities ... It requires people to act in the best interests of the public. That shift is fundamentally important,” he said. “When there is reckless spending, almost inevitably, people who are dependent on public services, the poor, are denied access. In the context of state capture, it is actually an endeavour to remove those kind of controls.” (BDLive)

STEINHOFF BRACES FOR MORE TURMOIL

Embattled retailer Steinhoff yesterday warned of more litigation following a disastrous year during which legal claims amounting to billions of euros were initiated in the wake of Markus Jooste’s departure as CEO. The company, which lost more than R200 billion of its market value following the collapse of its share price in December 2017 when it admitted to accounting irregularities, says it expects the forensic investigation by PwC into its affairs to be completed by the middle of March. “A number of legal proceedings have been initiated against the group, in addition to those reported previously,” it stated in the update posted on its website yesterday. The company again re-affirmed that its audited financial statements for 2017 and 2018 will be published on April 18. As far as the ongoing forensic investigation is concerned, it said: “PwC has now substantially completed its work and expects to deliver its report in mid-March. The company will only provide an overview of the report prior to the publication of results.” (BDLive)

… AS PEPKOR UNITS KEEP BOAT AFLOAT

The trading performance of Pepkor Europe and locally listed Pepkor Holdings continues to be the bright spots for the Steinhoff group in the quarter to end-December. The trading update, which represents activity during the busy Christmas period, shows that revenue from continuing operations rose 3% to €4.691 billion (about R75 billion). Its French-based furniture retail chain Conforama’s turnover fell by 3% over the prior corresponding period to €927 million, as it was forced to close during civil protests last year. By contrast, Pepkor Europe, which comprises Pepco (Eastern Europe) and Poundland (UK), reported that revenue increased by 15% to €993 million, with Pepco growing revenue by 34%. JSE-listed Pepkor Holdings, in which Steinhoff still owns a 71% stake, grew revenue by 5% to €1.198 billion. The group also generated a good result at its automotive unit, but there were small revenue declines at Mattress Firm and Greenlit Brands (previously Steinhoff Asia Pacific). (BDLive)

IMPLATS EYES NEW PALLADIUM MINE

Impala Platinum plans to start building a new palladium mine that could begin producing as soon as 2024 as the company’s outlook for metals turns bullish. Implats, as the second-biggest platinum miner is known, plans to start work on the Waterberg project in South Africa in 2021, CEO Nico Muller said. The producer is also considering boosting output at its jointly held Mimosa mine in Zimbabwe by 30% as it bets on a long-term shift in platinum-group metals prices, Muller said. A surge in palladium prices and a weaker Rand is dispelling the gloom that gripped South African miners just a year ago. The metal used in pollution-control devices for car engines is forecast to remain in deficit for an eighth straight year in 2019. The shares jumped 9% yesterday, and headed for the highest close since 2016. They’ve rallied 63% this year. (Bloomberg)

IMPERIAL PERFORMANCE LEAVES INVESTORS COLD

The market punished Imperial Logistics for its poor outlook, sending the share down more than 8% by mid-afternoon trade yesterday despite it increasing interim headline earnings by 24% in the six months to December. It has been just three months since the group’s JSE listing following the unbundling of the Imperial Group, and one month since the appointment of new CEO Mohammed Akoojee, who reported a 6% rise in continuing revenue (excluding businesses held for sale) to R26.6 billion and flat operating profit of R1.3 billion, with headline earnings up 24% to 300c a share. Strong results from the group’s African Regions were offset by underperforming consumer packaged goods and healthcare businesses in South Africa and lower results from the automotive and express palletised distribution businesses in the Logistics International unit. Outside South Africa, revenue grew 10% to R18.8 billion or 70% of group revenue and operating profit grew 5% to R867 million or 65% of group operating profit. African continent operations accounted for 54% and 70% of revenues and operating profits, with the rest coming from Europe and the UK. (Moneyweb)

PRASA STAND-IN CEO CALLS IT QUITS

The interim group CEO of the Passenger Rail Agency of SA (Prasa), Sibusiso Sithole, has resigned after nine months in the post. Prasa said yesterday that the board had accepted Sithole’s resignation, which takes effect immediately. The agency said Sithole had been in the position since June 1 last year until now, when the board agreed on “a mutual separation upon his resignation”. The department of transport had seconded Nkosinathi Sishi, deputy director-general responsible for corporate governance, special projects and public entity oversight, as acting group CEO. (BDLive)

BRULPADDA OIL DRILLERS BACK IN DECEMBER

France's Total and partners will resume drilling at the Brulpadda prospect offshore South Africa in December, a minority partner in the field said. Brulpadda, in Block 11B/12B, is a gas condensate discovery that could hold total resources of 1 billion barrels of oil equivalent, Total said. "We will come back in the next summer window in December and drill up to four exploration wells," Garrett Soden, CEO of Africa Energy, which holds a 4.9% effective interest in the block, said on the sidelines of an energy conference. The drilling costs will lower to around $100 million (about R1.4 billion) per well, he said, from $154 million for the first well drilled. Total has a 45% working interest and is the operator of Block 11B/12B, which covers an area of 19 000 square km. (Reuters)

MOZAMBIQUE GOES AFTER CREDIT SUISSE IN LONDON

Mozambique has filed a case in London's High Court against Credit Suisse, according to court records. Reuters was not immediately able to establish the details of the case yesterday. Credit Suisse was one of the lenders that helped arrange US$2 billion (about R28 billion) in government-guaranteed loans that tipped Mozambique into a debt crisis that it is still struggling to recover from. The global investment bank declined to comment. Mozambique's Attorney General did not immediately respond to requests for comment. (Reuters)

MORE NEWS, NOTICES AND APPEALS

CANSA SHAVATHON AT MIDLANDS MALL
Liberty Midlands Mall will be hosting the annual CANSA Shavathon drive this coming weekend. It is understood the activity will take place tomorrow and Sunday at both the Pick n’ Pay and Checkers courts, otherwise known as the The Lifestyle Centre Courts.

Exceptional Customer Service..and More

Connect with that Customer in  90 Seconds!

10 ways to make a Strong First Impression!

Tuesday 9 April 2019
8.30 - 1 pm
Chamber House, Royal Showgrounds
Costs : R675 pp, R640 pp for 3 more, R590 pp for 5 more.

Bookings: 031 563 4302; 082 820 2412; Maureen@trainsmart.co.za

The greatest way to make a positive impression is to demonstrate that the customer is the centre of attention.

Create an immediate connection that results in trust and rapport. We need good relationships.

The Benefits of Connecting:

• Communicating for Service Excellence in the workplace - verbal , non-verbal, communication with staff, supervisors, management and customers.
• Moments of Truth - any episode in which a customer comes into contact with any aspect of the organization and gets an impression of the quality of its service.
• Attitude and Behaviour in the Workplace.
• Telephone Skills - answer that phone in 3 rings and smile.
• Adapting to change - handling the difficult customer - go that extra mile.
• Absenteeism and Presenteeism in the workplace - staff not working to full potential.
• Remember - The Customer is King (DVD).
• Building effective teams is the basis of Service Excellence. Remember Commit to the team.