VENDREDI 22 NOVEMBRE 2019 BIZWEEK ÉDITION 267 Dale Capital Group Limited has completed its secondary inward listing of the Company’s shares on the South African ZAR X stock exchange. The latter was launched in 2017 to rival the Johannesburg Stock Exchange. The profit forecasts for Dale Capital for the years ending 29 February 2020 and 28 February 2021 are USD (890 641) and (20 330) respectively ; therefore, reduced losses for the specified periods. The directors of the company have based themselves on excellent prospects for Mauritius, as follows, and ambitions to make of the island a food security hub : Food security strategy The Mauritian food policy hinges on commercial food imports and indigenous food crop production ; and ensuring that the population has access thereto. Being a net food importer, it sources the cheapest food from the world market. The opportunity exists for Dale Capital to develop a carefully thoughtout food security strategy focus and steadily work towards a Mauritius-based food security hub to firstly meet the local Mauritian needs and thereafter towards meeting the needs of targeted sub-Saharan Africa and the Indian Ocean Islands. The profit forecast as detailed in Annexure 4 indicates that in the next two years Dale Capital’s investments in this sector will have significant growth and profits. Tourism to expand The tourism section in Mauritius is expected to expand through 2020, driven by large numbers of tourist arrivals and increasing international receipts. This will support the hotel and restaurant industry, increasing value, creating room for greater transformation and renovations. This is buoyed by concerted efforts by the government to promote the island as a year-round destination and such efforts are expected to improve arrivals and increase occupancy rates of hotels during the off-peak season. The Mauritian government is also focused on increasing accessibility to the island by negotiating with a number of airlines to expand their flight routes to the country. These and other tourism initiatives are expected to feed into the prospects of the St Félix Food Logistics segment of the group. Attractive market in sub-Saharan Africa Mauritius is one of the most attractive markets for trade in sub-Saharan African region owing to fast and inexpensive processes for both exporting and importing. LA TOUR PROSPECTS Dale Capital ambitions to make of Mauritius a food security hub The private equity investment holding company, Dale Capital, has completed an inward listing on the ZAR X (launched in 2017 to rival the Johannesburg Stock Exchange), seeking to raise $2m (R15m) to invest in high-technology agricultural operations in Mauritius. Dale Capital is targeting the Mauritian food market, saying about 70% of food is imported to the island nation, but that it ultimately wants to also export food, citing the favourable climate The lack of trade bureaucracy, efficient port handling and small size of the country significantly reduces lead times and the cost of exporting and importing. Consequently, Mauritius is placed first in the region for the Trade Procedures and Governance pillar of the BM Logistics Risk index, with a score of 84.0 out of 100, also placing the country high in global comparison. This presents an opportunity in logistics, transportation and warehousing, which the Company intends to leverage through Valley Containers. To expand Dale Agriculture The consumption of goat meat in Mauritius is approximately 5 000 tons per year with 4 800 tons being imported. This is an attractive niche market opportunity. Plans are to increase the size of the goat herd operated by Dale Agriculture. Rs 1.26 milliard de chiffre d’affaires pour SUN au premier trimestre 2019 Le groupe Sun a enregistré une hausse de son EBITDA de 21% qui équivaut à Rs 44 millions malgré un léger recul de son chiffre d’affaires de 3.6% par rapport au même trimestre de l’année dernière pour atteindre Rs 1,26 milliard. Ces résultats s’expliquent par la rénovation d’environ 50% des chambres du Sugar Beach, ainsi qu’à la baisse générale des arrivées touristiques à Maurice. Pour ce premier quart au 30 septembre 2019, le taux d’occupation des hôtels a atteint 69.9% avec une hausse de 7% sur les Revenus par Chambre Disponible (RevPAR). Malgré une hausse de 10% dans les arrivées touristiques aux Maldives, le Kanuhura, hôtel de luxe 5* supérieur évolue dans un environnement très compétitif avec l’ouverture de nombreux nouveaux hôtels. Néanmoins, pour le premier trimestre, l’hôtel a enregistré une croissance de 47% de ses revenus comparés à la même période de l’année dernière. Excluant une provision exceptionnelle de Rs 15 millions sur créances irrécouvrables suite à la faillite de Thomas Cook Group et une charge additionnelle de Rs 7 millions imputable aux changements des normes comptables (IFRS 16), Sun a enregistré une diminution de ses pertes pour ce premier trimestre 2019 à Rs 230 millions comparé à Rs 239 millions durant la période correspondante en 2018. Growing St Félix Seafoods fleet The investment over the past two years in repairing and expanding the St Félix Seafoods fleet is ensuring significant organic growth in the overall size of the catch, with profits being achieved from July 2018 to the Last Practicable Date. To combine operations with St Felix Agri In addition to the above, in 2020 it is envisaged that Dale Agriculture will combine its operations with Saint Félix Agri, in return for a 60% interest in Saint Félix Agri, which will own the farmland on which the Dale Agriculture operations are being conducted. 3