MTN MoMo Launches Additional Services To Help SA During Challenging Times

MTN’s Mobile Money solution, MoMo, has launched some new functionalities aimed at assisting South Africans during challenging economic times. These include the new food...

Latest Posts

SA’s Digital Heritage: Keeping Us Globally Relevant

South Africa’s heritage is not just physical. It is intimately part of the digital world. Digital connectively can enhance the value of that heritage,...

How is Huawei Powering Digital Inclusion with Technology in Africa?

Huawei believes that no one should be left behind in the digital world, so the Chinese telecoms giant developed TECH4ALL. TECH4ALL is a long-term, digital...

Uber Eats Releases South Africa’s Most Loved Traditional Orders

The term local is lekker always rings true in a country as diverse as South Africa, where one is always guaranteed a taste extravaganza....

2021 BMW M3 Competition Sedan and M4 Competition Coupe Revealed

BMW has finally revealed its new M3 and M4 Coupe models that are likely to launch locally towards the middle of 2021. South Africans are...

Mustek unit Rectron exit Australia

 

South African-based distributor of personal computers and electronic equipment Rectron said on Friday it planned to sell its 100% shareholding in  Rectron Australia. By Gugu Lourie


The firm, which is part of the JSE-listed ICT distributor Mustek, said the Australian unit will be sold for more than AUD 1 million to IG3 Education Ltd.

The deal is effective from 1 October 2015.

Rectron added that the deal was part of its drive to dispose of non-performing and non core assets. It will utilise the proceeds from the sale to reduce its debt.

The net asset value of Rectron Australia at 31 December 2015 was R14.3 million and included a deferred tax asset of R95 million. The net loss after tax for the six months to 31 December 2015 was R2.2 million.

David Kan, the CEO of Mustek, is a 38% shareholder in IG3 Research & Applications that holds 62.97% stake in IG3.

The firm, which was established in 1995, provides coponents, mobility products, multinationals laptops, peripherals and printers, representing brands including Lenovo, Gigabyte, Transcent, Seagate, Everki, Samsung and Ricoh to name a few.

Distribution of high-tech ICT solutions has been Rectron’s key strength, but evolving trends in the market have prompted the firm to consider other revenue streams..

Latest Posts

SA’s Digital Heritage: Keeping Us Globally Relevant

South Africa’s heritage is not just physical. It is intimately part of the digital world. Digital connectively can enhance the value of that heritage,...

How is Huawei Powering Digital Inclusion with Technology in Africa?

Huawei believes that no one should be left behind in the digital world, so the Chinese telecoms giant developed TECH4ALL. TECH4ALL is a long-term, digital...

Uber Eats Releases South Africa’s Most Loved Traditional Orders

The term local is lekker always rings true in a country as diverse as South Africa, where one is always guaranteed a taste extravaganza....

2021 BMW M3 Competition Sedan and M4 Competition Coupe Revealed

BMW has finally revealed its new M3 and M4 Coupe models that are likely to launch locally towards the middle of 2021. South Africans are...

Don't Miss

Avon Disrupts the Norms to Create Addictive, Rebellious & Fierce “Far Away Rebel & Diva”

Avon breaks all the rules with Far Away Rebel & Diva. The new launch is the next step in the glamorous bold journey of...

Investec Says Union Must Seek Answers For Phantom Shares from Cell C

Investec has told the Information Communication Technology Union (ICTU) to direct its questions about the Believe Phantom Option Share Scheme for Cell C workers to the...

Union Asks If Blue Label Telecoms Is Using Cell C as a ‘Piggy Bank’

The Information Communication Technology Union (ICTU) wants Blue Label Telecoms to explain how the JSE-listed company can zero rate its stake in Cell C...

Workers at Cell C Want Investec to Explain ‘Sudden Devaluing’ of their Share Scheme

The Information Communication Technology Union (ICTU) has asked Investec to explain the ‘devaluing’ of the "Believe Phantom Option Shares Scheme (Believe Share Scheme)" awarded to Cell...

Spotify’s Discover Weekly Playlists Now Sponsored by Telkom South Africa

Global streaming service Spotify is announcing Telkom South Africa as the first local sponsor of the Discover Weekly playlists for South African users. These sponsorship...

Stay in touch

To be updated with all the latest news, offers and special announcements.