Malema's millions

[DigitalSoldier]

Malema is the director of four companies: 101 Junjus Trading CC, Blue Nightingale Trading 61, Ever Roaring Investment and SGL Engineering Projects.

LOL!!!

 

[BTTB]

Well considering he wants to nationalise everything, I guess he's only capitalist when i suits him. All animals are equal and what not :/

Yes, true.
That is if he even knows the meaning of the word.

He is probably like the Cape Town weather with 4 seasons in one day, where he could wake up a Commie, talk a load of k@k to the Media and by tonight he is cashing in his dividend cheque from one of his Companies or shares he owns. Plenty of Chameleons around at the moment, will say and do anything to draw attention to themselves and their hidden agendas.

 

[Mamajyot]

And everyone thought he was a communist!

 

[SmartKit]

Fame (whether good or bad) usually brings you money. It's the extended press time that got him fame, and press time makes you marketable, so IMO they have nobody to blame but themselves.

Lots of people have called to ignore the twat, but it just falls on deaf ears.

Well then he needs to be auditted. He must not get away with tax money when SARS squeezes me for everything I earn. Claiming you earn R20000 and buying a R3.5 million house must immediately raise alarm bells at the revenue service.

 

[Bizkit87]

101 Junjus Trading CC, Blue Nightingale Trading 61, Ever Roaring Investment and SGL Engineering Projects.[/B]

.

I'm just wondering, will any of these companies benefit if our mines get nationalised? there has to be a reason Malema is pushing so hard for this [even heard this morning he doesn't need Zuma's support]

also

Why can't they check his tax return?

 

[JungleBoy]

Well then he needs to be auditted. He must not get away with tax money when SARS squeezes me for everything I earn. Claiming you earn R20000 and buying a R3.5 million house must immediately raise alarm bells at the revenue service.

He probably earns that R20000 salary from his job as the pres of the youth league. However his income from his other interests could funding his lavish lifestyle.
As you will know that companies pay tax separately from the individuals that own them....

 

[RandomGRK]

He should be audited. If the companies he has a stakehold in are independent and it can be proved that they are legit then good for him, let him spend. On the other hand, what if he and his buddies have been awarding his companies tenders. Well, that is corruption and he should burn!

 

[TKD01]

Well then he needs to be auditted. He must not get away with tax money when SARS squeezes me for everything I earn. Claiming you earn R20000 and buying a R3.5 million house must immediately raise alarm bells at the revenue service.

+1. He got an F for woodwork but is "director" of 4 companies? LOL only in africa

But we know this is not going to happen - as said above "all animals are equal, but some more than others". In this country it PAYS to forget morals, leave honor and dignity behind and be corrupt...

 

[JungleBoy]

+1. He got an F for woodwork but is "director" of 4 companies? LOL only in africa

But we know this is not going to happen - as said above "all animals are equal, but some more than others". In this country it PAYS to forget morals, leave honor and dignity behind and be corrupt...

I never took Woodwork as a subject but I'm doing relatively OK (I'm not a director but still). You must have ruined the joke somewhere...

 

[Ou grote]

I google one of his companies, don't see him mentioned (This is a 2006 pdf), but interesting deals.
Seems he has been taking some stakes in mines already.

http://www.nkweplatinum.com/images/nkwe-97-1-caike.pdf

ASX Announcement and Media Release 15 May 2006
BEE COMPANY TO ACQUIRE 30% OF NKWE PLATINUM (SOUTH AFRICA) (PTY) LTD
The Board of Nkwe Platinum Limited (ASX:NKP) is pleased to announce that it has agreed a Black Economic Empowerment transaction with Blue Nightingale Trading 709 (Pty) Ltd (“Blue Nightingale”). The transaction involves the issue of new shares in Nkwe Platinum (South Africa) (Pty) Limited (“Nkwe SA”) to Blue Nightingale so that it will own 30% of the expanded issued capital of Nkwe SA.
Nkwe SA is the South African group’s holding company which is the owner of the various platinum group metals (“PGM”) projects. No cash consideration is to be paid by Blue Nightingale however Nkwe SA is now fully compliant with the equity ownership component of the Broad-Based Socio-Economic Empowerment Charter for the South African Mining Industry and is now placed to finalise the conversion of the old order rights at its flagship De Wildt Project into new order prospecting rights and commence the exploration and feasibility plans required to commercialise this project. Furthermore, Blue Nightingale has undertaken to introduce additional PGM assets to Nkwe as part of a broader strategic merger plan.
Broader Strategic Objectives
This transaction will position Blue Nightingale to increase its equity interest in Nkwe SA through the introduction of additional PGM assets to Nkwe. In the event that Nkwe decides to acquire interests in PGM assets introduced by Blue Nightingale, it is expected that the interest in Nkwe SA will be converted into an equity position at the Nkwe Platinum Limited level subject to any regulatory and shareholder approvals that would be required. The intention is that Nkwe and Blue Nightingale will work towards merging their respective PGM assets.
About Blue Nightingale
Blue Nightingale is a company that is wholly owned, controlled and managed by Historically Disadvantaged South Africans (“HDSA”). Its principals comprise experienced practitioners in a wide range of business activities including mineral resource management, corporate finance, project management and the provisioning of legal and business accounting services.
The company’s principal business is the pursuit of viable mining opportunities, with particular emphasis on PGM mining ventures. Under the stewardship of an enterprising and vibrant team, Blue Nightingale is passionate about the creation of economic value, socio-economic development, the redress of historical imbalances. It’s vision to be a leading HDSA owned and globally competitive mining house.
The directors of Blue Nightingale are Mr Maredi Mpahlele (Chairman), Mr Mxoleli Nkuhlu, Mr Sharif Pandor and Mr Andile Nkuhlu.
Observations
Jack Griffin, Nkwe’s Chairman said:
"We are pleased to have reached this agreement with Blue Nightingale. We believe that this transaction will ultimately create a substantial empowerment company that will initially develop PGM prospects on the Western and Eastern Limbs of the Bushveld Complex in South Africa.
“Blue Nightingale will provide significant shareholder value as it incorporates a management team with mining and commercial expertise and experience. The transaction also represents an opportunity for the investment community and Nkwe is very excited about these development opportunities and looks forward to working with our new partners.”
“The Board remains very positive about the Company’s existing projects and the additional opportunities that Blue Nightingale will bring to Nkwe. The Company however remains committed to completing the Bankable Feasibility Study on the 7.2 million ounce De Wildt project in 2006 with development scheduled for 2007.”
Maredi Mpahlele, the Chairman of Blue Nightingale, said:
“We are very excited to be involved with Nkwe and our objective is to create a significant HDSA mining house in South Africa. Our discussions with Nkwe which commenced last year have progressed successfully where we have agreed initially to acquire an interest in Nkwe SA. The immediate impact of this transaction will be the delivery of new order prospecting rights to Nkwe. Blue Nightingale is also finalising rights over additional PGM projects in South Africa which shall be vended into Nkwe. Ultimately we wish to add significant value to Nkwe by securing significant PGM properties to be merged with Nkwe’s existing PGM projects and move to a majority HDSA shareholding.”
Nkwe Board Structure
To reflect the proposed equity change, Messrs Maredi Mpahlele and Mxoleli Nkulhu have been invited to join the Nkwe Platinum Limited Board. The new Board structure is:
Jack Griffin Chairman
Tony Weber Chief Executive Officer
Jeff Mews Non-executive Director
Bill Crossley Non-executive Director
Maredi Mapahle Non-executive Director
Mxoleli Nkuhlu Non Executive Director
Further details concerning Mr Mpahlele and Mr Nkuhlu are set out below.
For further information, please contact:
Jack Griffin Warrick Hazeldine
Chairman Purple Communications
Tel: +61 8 9481 8181 Tel: 08 9485 1254
Mobile: +61 419 836 410 Mobile: +61 417 944 616
2
Further details concerning Mr Mphahlele and Mr Nkulhu:
Mr Maredi Mpahlele - B Sc (Eng) (Mineral Resource Management) (Wits), Dip M Surveying, Certified Mine Surveyor, Advanced Survey Certificate, Diploma in Marketing (Executive Education College)
Maredi holds a BSc (Engineering) in Mineral Resource Management and a Diploma in Mine Surveying from the University of the Witwatersrand. He gained considerable investment and project finance experience whilst employed as Business Analyst at the Industrial Corporation of South Africa Limited (IDC). At the IDC, he worked, in teams with chartered accountants, engineers and other professionals, on feasibility evaluations of manufacturing companies and projects throughout South Africa. He also assessed applications for Asset-Based Finance. Before joining the IDC, he worked for De Beers Consolidated Mines (Premier Mine), where he was involved in ore deposit viability evaluations, mining grade optimisation and mine planning.
Maredi sits on boards of various engineering, trading and mining companies, including Zytech-Valvestock (Pty ) Ltd (a subsidiary of the large US based valve company Zytech, which supplies petrochemical valves to Sasol, Engen, Caltex, Fluor Daniels etc), Klerksdorp Mining

 

[SmartKit]

He probably earns that R20000 salary from his job as the pres of the youth league. However his income from his other interests could funding his lavish lifestyle.
As you will know that companies pay tax separately from the individuals that own them....

I'm afraid JungleBoy, it does not work in such a perfect manner as you would have us believe. If you own the asset or are given the asset and you do not pay tax it is tax evasion, a criminal offence. Dividends (on private companies), director's salaries and profits on shares are all taxable. You cannot escape personal income tax through the use of CCs or companies, SARS has seen an end to that. You clearly have no idea about taxation.

Believe me, if he is living in that house, has that car and that watch he is liable to taxation and he is going to find himself very short of the law soon.

 

[The_Unbeliever]

D I S G U S T I N G

 

[SmartKit]

Your arguments are stupid to put it mildly!
Doing bad in woodwork is no guarentee that you got bad business acumen.

Actually his entire report card speaks otherwise. The guy hasn't go a clue, buddy. He's trying to influence economic policy in this country, without the slightest though about how it will affect the entire nation. He is a selfish little prick that needs to get his comeuppance. He doesn't give a damn about the people only how he can live in lavish and luxurious lifestyle, how is that socialism when millions are homeless and starving. Don't you dare for one minute say he deserves it because he doesn't and that still doesn't make him care about the people.

He is more than entitled to live capitalist lifestyle had he not been a big preacher of socialism! He is a two-faced Orwellian pig, apparently he thinks he is better than those who fought and struggled during Apartheid. What a tosser.

 

[Mamajyot]

None that I know...

Well I know plenty.
Happen's more often than you think.

 

[Mamajyot]

Actually his entire report card speaks otherwise. The guy hasn't go a clue, buddy. He's trying to influence economic policy in this country, without the slightest though about how it will affect the entire nation. He is a selfish little prick that needs to get his comeuppance. He doesn't give a damn about the people only how he can live in lavish and luxurious lifestyle, how is that socialism when millions are homeless and starving. Don't you dare for one minute say he deserves it because he doesn't and that still doesn't make him care about the people anymore.

I can dare say what I like.
When did I say he deserves it?
All I commented on was the woodwork issue.

You should not jump to conclusions.
Makes u look like a fool!

 

[JungleBoy]

I'm afraid JungleBoy, it does not work in such a perfect manner as you would have us believe. If you own the asset or are given the asset and you do not pay tax it is tax evasion, a criminal offence. Dividends (on private companies), director's salaries and profits on shares are all taxable. You cannot escape personal income tax through the use of CCs or companies, SARS has seen an end to that. You clearly have no idea about taxation.

Believe me, if he is living in that house, has that car and that watch he is liable to taxation and he is going to find himself very short of the law soon.

You totally misunderstood my post.
I meant that he pays company tax from his companies. Otherwise how would he be able to continue doing business (presumably with gvt) without a valid tax clearance?

 

[SmartKit]

I can dare say what I like.
When did I say he deserves it?
All I commented on was the woodwork issue.

You should not jump to conclusions.
Makes u look like a fool!

You support Malema, er... I think that makes you the fool, eh?

He is a two-faced Orwellian pig, apparently he thinks he is better than those who fought and struggled during Apartheid. What a tosser.

 

[SmartKit]

You totally misunderstood my post.
I meant that he pays company tax from his companies. Otherwise how would he be able to continue doing business (presumably with gvt) without a valid tax clearance?

He still has to pay personal income tax on top of that. By claiming he owns R20 000 a month it is obvious he isn't declaring all his earnings.

 

[DigitalSoldier]

Well I know plenty.
Happen's more often than you think.

Please, please provide evidence to back up your claim seeing that you know of plenty.

 

[JungleBoy]

Actually his entire report card speaks otherwise. The guy hasn't go a clue, buddy. He's trying to influence economic policy in this country, without the slightest though about how it will affect the entire nation. He is a selfish little prick that needs to get his comeuppance. He doesn't give a damn about the people only how he can live in lavish and luxurious lifestyle, how is that socialism when millions are homeless and starving. Don't you dare for one minute say he deserves it because he doesn't and that still doesn't make him care about the people.

He is more than entitled to live capitalist lifestyle had he not been a big preacher of socialism! He is a two-faced Orwellian pig, apparently he thinks he is better than those who fought and struggled during Apartheid. What a tosser.

Malema preaching socialism ???? I thought he wanted communists out of the alliance?