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SKJ - Sekunjalo Investments Limited - Sekunjalo secures R1bn government deal to accelerate broad-based participation in the maritime sector Sekunjalo Investments Limited (Incorporated in the Republic of South Africa) (Registration number 1996/006093/06) Share code: SKJ ISIN: ZAE000017893 ("Sekunjalo" or "the Company" or "the Group") SEKUNJALO SECURES R1BN GOVERNMENT DEAL TO ACCELERATE BROAD-BASED PARTICIPATION IN THE MARITIME SECTOR A consortium led by Sekunjalo has been awarded a five-year contract worth an estimated R1 billion by the Department of Agriculture, Forestry and Fisheries. The deal is expected to accelerate broad-based participation in Cape Town`s maritime industry, which to date is highly concentrated. Under the deal, the consortium, which includes Sekunjalo Industrial Holdings (a subsidiary of Sekunjalo) and ship-building company KND, will conduct technical maintenance, infrastructure and personnel support to eight state-owned research and patrol vessels including the Algoa, the Ellen Khuzwayo and the Sarah Baartman for a five-year period. Sekunjalo CEO Khalid Abdulla says the contract is a significant business deal for Sekunjalo and will create value for the Group`s current business operations. In addition, Sekunjalo`s Chairman Dr Iqbal Surve says the deal will accelerate much-needed enterprise development and skills transfer in technical areas of the maritime industry, where barriers to entry have previously been high. Our goal is to provide as many job opportunities through this deal as possible." Minister of Agriculture, Forestry and Fisheries, Tina Joemat-Pettersson says the contract is the first of its kind awarded to a Black-owned company, which traditionally, shied from technical areas of South Africa`s maritime sector. "I am confident that Sekunjalo Industrial Holdings has the requisite skills and capabilities to fulfil this contract based on its fleet management experience and its experience in managing maintenance projects on international vessels." Abdulla, says Sekunjalo Industrial Holdings is one of the only Black-owned companies on the continent with the requisite technical and engineering expertise to manage a contract of this magnitude." Today, Sekunjalo not only manages technical maintenance of its own fleet, but conducts maintenance and provides technical services to vessels from around the world. Abdulla says acquiring technical expertise and getting the right people in the maritime maintenance is no mean feat. "We will not only provide technical support and expertise, but also financing to smaller businesses. We have a moral obligation to promote enterprise development in this industry." According to Abdulla, Sekunjalo will outsource a material portion of the deal to smaller businesses. He says this is perfectly aligned with Sekunjalo`s ethos to promote broad-based participation in the sectors of the economy that has been inaccessible to previously disadvantaged individuals. "This is central to Sekunjalo`s business philosophy which promotes job creation and the transfer of skills. Surve says "This is central to Sekunjalo`s business philosophy which favours labour-intensive industries that not only promotes employment, but also provides sustainable job opportunities." Minister Joemat-Pettersson says she applauds Sekunjalo`s attempt to open up the sector to SMMEs. "Not only will many Black SMME`s benefit from this deal, it will also accelerate sustainable broad-based participation in the maritime industry, which can create many job opportunities." Surve urges all companies involved in the maritime sector, individuals with technical expertise and engineers who have not necessarily been involved in the maritime industry, to contact Sekunjalo. While Sekunjalo is in the process of developing a database of suppliers, the company is finalising a service level agreement with the Department of Agriculture, Forestry and Fisheries. Cape Town 24 November 2011 Sponsor PSG Capital Date: 24/11/2011 16:50:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
