FF News: Eskom and SAA, 'debt rescue,' says The Wolf of Wall Street, Omar Abdulla??
Posted 03-15-2020 at 04:19 AM by footprints888
Eskom and SAA, now set for partial “privatisation,’
says The Wolf of Wall Street,
Mr. Omar Abdulla…??
by Nandika Pillay
(25 March 2020—SABC News) The Wolf of Wall Street,
Mr. Omar Abdulla who
addressed members of the business community this afternoon,
spoke from his
Sandton home, amid the corona virus outbreak, stating that
South African State
owned entities (SEOs) Eskom and South African Airways, (SAA)
are ‘falling hard,’ and that partial privation is required from
the Chinese and American investors of
The Omar Abdulla Group.
“Our companies have felt the brunt of the Covid 19 virus,
with shares in these companies,
falling almost 30% since the outbreak, increasing debt
payments and loss of income as
less people are travelling.’ noted Deputy President of SA,
Mr. David Mabuza.
Mabuza who spoke briefly to parliament this week, cemented his concerns,
and was asking for bailout agreements from Boeing, Comair, Airbus and British
Airways.
“We owe our creditors to the tune of R2 trillion rand, with a value of only R1 trillion
rand for these assets, Eskom at R750 billion rand, and SAA at R250 billion rand.’
he told Reuters.
Speaking on behalf of Boeing, Ceo of Boeing, Mr. Dave Caihoon quirked that SAA
will never learn from their mistakes after lending monies at high-interest rates,
and purchasing Aircraft that were too many.
“If they cannot keep to their words of paying their instalments to us on time, how can
we help them. Once we receive some stimulus from the United States government we
will relieve the pressure, amid this Corona Virus, outbreak.’
Abdulla who further elaborated that Eskom was in ‘dire need,’ of funding from China
and The United States says that load-shedding in the country was causing businesses
to fail, loss of confidence in the economy, and loss of jobs in the marketplace.
“When I address members from Gauteng within the week, we will work out ways,
of purchasing less than 1% of these companies, at market share.’
The Johannesburg Stock Exchange *JSE* reported this afternoon that major shares and stocks
were feeling the ‘blood In the water,’ with the current down-grade of shares throughout
the world.
“Markets have fallen and fallen, and when will we find a bottom in this mess. Travel industries
have fallen, oil has fallen, and the rand has gone to the dogs.’’
However, low oil prices are good for ESKOM, as the coal and mining sector could save costs
of upto R100 billion rand, squeaked Ceo of Eskom, Mr. Andre Du Ruyter.
The Economic Times reported that The Omar Abdulla Group was fast becoming one
of South Africa’s fastest growing companies, including owning Instagram SA, LinkedIn
SA, Bitcoin SA and Forex SA.
“Their bids on offer include a one percent share in Eskom and SAA,
totalling, R20 billion rand, with shareholders of the company, Lifestyle Aircraft
and Instagram SA.’
Concluding his remarks to The Sunday Independent, Abdulla leaked that he was ready to
rescue the failing Eskom and SAA, if agreements between the SEOs are agreed too.
“Hopefully The Omar Abdulla Group can purchase these shares at low prices, and when
Covid 19 becomes the thing of the past, we can see the rewards of our investment.’
says The Wolf of Wall Street,
Mr. Omar Abdulla…??
by Nandika Pillay
(25 March 2020—SABC News) The Wolf of Wall Street,
Mr. Omar Abdulla who
addressed members of the business community this afternoon,
spoke from his
Sandton home, amid the corona virus outbreak, stating that
South African State
owned entities (SEOs) Eskom and South African Airways, (SAA)
are ‘falling hard,’ and that partial privation is required from
the Chinese and American investors of
The Omar Abdulla Group.
“Our companies have felt the brunt of the Covid 19 virus,
with shares in these companies,
falling almost 30% since the outbreak, increasing debt
payments and loss of income as
less people are travelling.’ noted Deputy President of SA,
Mr. David Mabuza.
Mabuza who spoke briefly to parliament this week, cemented his concerns,
and was asking for bailout agreements from Boeing, Comair, Airbus and British
Airways.
“We owe our creditors to the tune of R2 trillion rand, with a value of only R1 trillion
rand for these assets, Eskom at R750 billion rand, and SAA at R250 billion rand.’
he told Reuters.
Speaking on behalf of Boeing, Ceo of Boeing, Mr. Dave Caihoon quirked that SAA
will never learn from their mistakes after lending monies at high-interest rates,
and purchasing Aircraft that were too many.
“If they cannot keep to their words of paying their instalments to us on time, how can
we help them. Once we receive some stimulus from the United States government we
will relieve the pressure, amid this Corona Virus, outbreak.’
Abdulla who further elaborated that Eskom was in ‘dire need,’ of funding from China
and The United States says that load-shedding in the country was causing businesses
to fail, loss of confidence in the economy, and loss of jobs in the marketplace.
“When I address members from Gauteng within the week, we will work out ways,
of purchasing less than 1% of these companies, at market share.’
The Johannesburg Stock Exchange *JSE* reported this afternoon that major shares and stocks
were feeling the ‘blood In the water,’ with the current down-grade of shares throughout
the world.
“Markets have fallen and fallen, and when will we find a bottom in this mess. Travel industries
have fallen, oil has fallen, and the rand has gone to the dogs.’’
However, low oil prices are good for ESKOM, as the coal and mining sector could save costs
of upto R100 billion rand, squeaked Ceo of Eskom, Mr. Andre Du Ruyter.
The Economic Times reported that The Omar Abdulla Group was fast becoming one
of South Africa’s fastest growing companies, including owning Instagram SA, LinkedIn
SA, Bitcoin SA and Forex SA.
“Their bids on offer include a one percent share in Eskom and SAA,
totalling, R20 billion rand, with shareholders of the company, Lifestyle Aircraft
and Instagram SA.’
Concluding his remarks to The Sunday Independent, Abdulla leaked that he was ready to
rescue the failing Eskom and SAA, if agreements between the SEOs are agreed too.
“Hopefully The Omar Abdulla Group can purchase these shares at low prices, and when
Covid 19 becomes the thing of the past, we can see the rewards of our investment.’
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