Simon’s stock tips
TISO BLACKSTAR
The pinch of import duties
Global trade wars have now directly impacted a locally listed investment, as Tiso Blackstar* placed Robor Proprietary into voluntary liquidation. Robor is involved in steel. I never knew that Tiso owned such an asset, but one of the reasons provided for the liquidation is “imposition of import duties by the United States of America on imported steel”. Selling into the US had been a lucrative business for them, and it is no longer.
AFRICA MEDIA ENTERTAINMENT
Internet killed the radio star
Africa Media Entertainment announced that Classic FM, which it owns, has been placed into business rescue. The station will remain on air and will likely be restructured and survive. But it does indicate, in part, how tough the economy is.
