Turnaround Management Association - Southern Africa

News from the forum for turnaround and corporate renewal professionals - established for purposes of information exchange, knowledge capturing, networking, education and raising the standards of turnaround in Southern Africa.

Monday, November 27, 2006

TMA-SA: Driven forward by its members

 

Turnaround Management Association

 

Turnaround Management Association - Southern Africa has achieved a great deal in its first full year of operation.  The board has recently reviewed the past performance and planned the way ahead to ensure TMA-SA is further entrenched as the industry body we intend to be.

We achieved recognition from government

This is best illustrated by recent events in which the Department of Trade & Industry as well as the National Treasury requested TMA-SA to advise it on improving turnaround and business rescue in South Africa.

The presentations were well received and National Treasury expressed the hope that “we will work well together… going forward…”

Our networking and educational events are growing in popularity

These presentations came about due to the sustained promotion of TMA and its members throughout the year through our monthly lectures and participation in various conferences, such as that held at Wits Business School.  The monthly lectures are growing in popularity as we see from our growing database of people interested in attending.  The networking opportunity so valued by members is also gaining momentum through these events.  The next one is on 29th November at WBS when Vernon Leas of Sasfin Private Equity will present on “When private equity funding might be available in a turnaround situation, and on what terms and conditions.”

We are improving our ability to deliver on our member’s needs

Behind the scenes the Board and its Exco have been busy creating a firm foundation for the future development of TMA-SA.  A strategy has been agreed and a plan put in place to significantly enhance the reputation and influence of TMA-SA.  This includes a possible alliance with ICSA to share resources and to jump start our ACTP programme so that we can introduce the Chartered Turnaround Practitioners accreditation in South Africa soon.  In addition to strategic issues, a secretariat has been established, a web site (www.tma-sa.com) and Internet forums established, enabling better communication for members.

We will continue to leverage the international knowledge base to position ourselves at the forefront of changes in the industry

We should not forget that we are a licensee of TMA International and enjoy many rights and privileges as a result. This organisation has well over 7000 members throughout the world including new chapters in Germany, Finland and India.  The knowledge that TMA possesses is invaluable in guiding the Exco and will be even more useful as South African business legislation moves towards the American “Chapter 11” model next year.  We will have an early opportunity to leverage our membership of TMA in March 2007 by participating in the INSOL conference to be held in Cape Town. 

But we can’t do this without your support

In view of the excellent progress made this year and the exciting plans for next year, we hope that members will renew their membership to TMA-SA for 2007.  To this end, invoices for membership renewal membership has been mailed to all TMA-SA members.

 

This news flash was brought to you by Turnaround Management Association - Southern Africa - the forum for turnaround and corporate renewal professionals in Southern Africa, established for purposes of information exchange, knowledge capturing, networking, education and raising the standards of turnaround.

Sunday, November 19, 2006

TMA-SA newsletter - November 2006

 

Turnaround Management Association

 

Reaching out to government

On 6 November 2006 Ntombi Langa-Royds and Jan van der Walt of the Turnaround Management Association - Southern Africa made presentations to:

  • Tshepo Mongalo (Project Manager: Company Law Review) of the Department of Trade and Industry.
  • A number of directors of National Treasury.

on Improving turnaround and business rescue in South Africa - how government can contribute, and how TMA-SA can assist.

The presentation covered the following:

  • Turnaround situations.
  • Causes of distress.
  • Turnaround strategies.
  • Turnaround industry in South Africa.
  • Turnaround industry driving forces.
  • Turnaround industry constraints.
  • Government interventions - new business rescue legislation, new Companies Act, business rescue funding, labour legislation, taxation.

Email received from National Treasury: "Thank you for taking the time to meet with us - we were very impressed with the quality of the presentations. I trust that we will work well together on a going forward basis and that we can play a part in assisting the turnaround of South African businesses".

National Treasury has requested TMA-SA to conduct a survey regarding the chances of success of the different stages in the timeline of financial distress.  The survey is being formulated.

In addition, National Treasury has requested TMA-SA to be available to play a facilitating role between a number of government departments.

The Department of Trade and Industry announced that new business rescue legislation will be promulgated in October 2007.  The dti also requested TMA-SA to make a proposal regarding business rescue legislation, including certification of supervisors.

Reaching out - lenders and investors, and service providers functions

TMA-SA is planning a social function with bankers and the private equity community in Johannesburg during 2007, followed by a similar function for service providers - consultants, turnaround practitioners, insolvency practitioners, lawyers, etc.

The objective is not only to introduce TMA-SA, but also to hear first hand from guests how TMA-SA can better serve them.

Quarterly newsletter

The first quarterly newsletter will be published in 2007 only.

This newsletter, will be available as a glossy print publication, for public distribution, as well as in electronic format. 

Date of next general meeting of members and election

The next general meeting of TMA-SA members will probably take place in March or April 2007. 

At the meeting, TMA-SA members will:

  • Vote for the approval of amended Articles of Association and By-Laws (see below).
  • Elect the 2007 Board of directors.

Amended Articles of Association and By-Laws

The revised Articles of Association and By-Laws, for approval by members at the general meeting of members in 2007 (see above) are essentially completed.

The revision has been prompted by TMA-SA now an affiliate of TMA rather than a Chapter, allowing us more flexibility, and the need to cater more explicitly for BEE within our structures without past Chapter-related restrictions.

The amended documents will be distributed to members to preposition them and solicit comments when ready

 

This newsletter was brought to you by Turnaround Management Association - Southern Africa - the forum for turnaround and corporate renewal professionals in Southern Africa, established for purposes of information exchange, knowledge capturing, networking, education and raising the standards of turnaround.

Sunday, November 05, 2006

TMA-SA November lecture series invitation

 

Turnaround Management Association

 

Date: Wednesday 29 November 2006.

Time: Social from 17h30 in Academic Lounge for Talk from 18h30 in LT1.

Venue: Wits Business School, 2 St David’s Place, Parktown.

Topic: When private equity funding might be available in a turnaround situation, and on what terms and conditions

Invitation: (110k)

Map to event: (117k)

Speaker: Vernon Leas of Sasfin Private Equity.

Vernon Leas has a B Comm (Unisa), MBA (Henley UK), SEP (Harvard).  After doing his articles at Coopers & Lybrand, he served in various financial and general management positions in Barlows, Altron and Malbak before taking the CFO then CEO role at a listed IT firm.  He currently runs his own business in investment management and strategic and turnaround consultant.

Abstract: The talk will be aimed at turnaround managers and based on many years of practical experience as well as post graduate studies in this field. It will focus on one of the key requirements for private equity availability i.e. the need for a turnaround strategy, to be in place. The talk will focus on Key elements, Strategic business plan, Stages and Critical success factors of the turnaround strategy. The talk will also include “real-life” lessons learnt from recent turnaround strategies performed for two clients of Sasfin Ltd.

Cost: R50 for TMA members, R100 per person for non-members.

Snacks will be served and a cash bar will be available.

Welcome: All TMA members, prospective TMA members and the general public.

Please feel free to forward this invite to colleagues and clients who may be interested in turnarounds.

Please RSVP by Monday 27 November 2006 to admin at tma-sa.com.

 

This invitation was brought to you by Turnaround Management Association - Southern Africa - the forum for turnaround and corporate renewal professionals in Southern Africa, established for purposes of information exchange, knowledge capturing, networking, education and raising the standards of turnaround.