BROAD-BASED black empowerment group, the Mineworkers Investment Company, has reported a recovery in its portfolio's net asset value.
MIC chief executive Paul Nkuna said yesterday that portfolio values had risen to R1,68billion this year from R1,4 billion last year.
Cash reserves were healthy and the balance sheet strong.
"No major acquisitions were carried out during the year, but positions in several investee companies have been strengthened." Nkuna said the MIC was celebrating 15 years in business and a decade and a half of "unswerving commitment" to its social mission of providing sustainable funding to its shareholder, the Mineworkers Investment Trust.
All MIC targets for 2005 to 2010 had been achieved except for the stretch goal of reaching R3billion in portfolio net asset value, "a consequence of the 2008-09 market pullback".
MIC's portfolio value rises to R6,8billion
BROAD-BASED black empowerment group, the Mineworkers Investment Company, has reported a recovery in its portfolio's net asset value.
MIC chief executive Paul Nkuna said yesterday that portfolio values had risen to R1,68billion this year from R1,4 billion last year.
Cash reserves were healthy and the balance sheet strong.
"No major acquisitions were carried out during the year, but positions in several investee companies have been strengthened." Nkuna said the MIC was celebrating 15 years in business and a decade and a half of "unswerving commitment" to its social mission of providing sustainable funding to its shareholder, the Mineworkers Investment Trust.
All MIC targets for 2005 to 2010 had been achieved except for the stretch goal of reaching R3billion in portfolio net asset value, "a consequence of the 2008-09 market pullback".
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