# General Business Category > Business Finance Forum >  Investment giant in trouble?

## Dave A

I've been having a little trouble getting paid anywhere near on time by a certain South African financial investment giant. A few days ago in idle conversation with another business chap, it came up that this same investment mega-corporate is rather significantly behind on their payments to his company too (far more behind than they are with me, in fact).

Has anyone here read any rumblings in main stream media about a major stock exchange listed corporate having severe cash flow problems? Or insider gossip perhaps?

I'm not going to mention any names so please don't ask at this point - anyone who is aware of an issue at this level is probably going to know whom I'm likely to be referring to.

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## Chrisjan B

Can it be ABSA - no it can't be ABSA is a bank...

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## eitai2001

Dave PM me a name ... I'll see if I can find out anything from an auditing perspective.

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## wynn

Noseweek says Investec is in trouble, is that what you don't want to hear?

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## Dave A

Keep looking...

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## Chrisjan B

What is this - a clue to a treasure hunt?

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## Dave A

I wish it was a treasure hunt. Probably the exact opposite.

Is this the Noseweek story on Investec you were refering to, Wynn?

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## wynn

And others, there have been a few stories on Investec over the last year or so.

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## IanF

Liberty, they must be spending a lot with Sandton City extensions.

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## Dave A

What I'm looking at is a subsidiary of a corporate that apparently is very slow to pay their bills. And I mean *very*, very slow...

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## Martinco

Come on Dave,

You are making us nervous !  Give some more hints. The quicker we know the better as it might affect some of us.   :Slap:

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## IanF

Dave, now I see Sandton City has a fire  link
I am sure it is out by now! Will this delay payment more for you?

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## Dave A

> Come on Dave,
> 
> You are making us nervous !  Give some more hints. The quicker we know the better as it might affect some of us.


So far it's me and the company of an acquaintance - barely hard evidence confirming a major problem. And there's no evidence of a problem in the public financial reports. So I regret nameless it will have to stay for now.

Rest assured if I get more conclusive evidence I'll be sure to share the info.

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## Martinco

> So far it's me and the company of an acquaintance - barely hard evidence confirming a major problem. And there's no evidence of a problem in the public financial reports. So I regret nameless it will have to stay for now.
> 
> Rest assured if I get more conclusive evidence I'll be sure to share the info.


Ok, I shall hold my breath !

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## flaker

i'm more anxious to know what PRIZE is offered to the first person getting it right? :Roll Eyes (Sarcastic):

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## Dave A

> i'm more anxious to know what PRIZE is offered to the first person getting it right?


Assurance that you're not being paranoid  :Wink:

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## tec0

I know of that Old Mutual was in the news not too long ago.




> By Devon Maylie 
>    Of DOW JONES NEWSWIRES 
> 
> 
> JOHANNESBURG (Dow Jones)--Old Mutual PLC (OML.LN), a global insurer with a strong focus on South Africa, said Thursday that it is making good progress in reducing group costs, but that it posted a drop in sales and had net client cash outflows in the first quarter driven by outflows in the U.S.
> 
> Funds under management were up 1% from the end of 2010 to GBP303.1 billion. At a group level, Old Mutual net client cash outflows totaled GBP2.6 billion, driven by net outflows of GBP3.7 billion ($6 billion) at US Asset Management.
> 
> Old Mutual said the outflows at USAM were mainly from short-term products, primarily stable value funds, and U.S. equity products. The short-term products offered investors a fixed return and, as markets rose, investors exited the products to find better returns elsewhere, the insurer said.
> ...


I did link the story but for some strange reason when you click on it, it doesnt display it thus I quoted it here.

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Dave A (12-May-11)

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## Dave A

The article has also been published in the Wall Street Journal, I see. Well, that's good enough for me.

Well done Tec0 - a home run.

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## Blurock

Investors should indeed be careful where and how they invest. The rating agencies can no longer be relied upon to give accurate information. Indeed a minefield!

Investment advisors are also to be selected with care. A relative has been dealing with a "very reliable guy" for over 20 years. He has recently invested a substantial sum in a property consortium which went bang within 6 months. This after explicit instructions not to invest in any long term or high risk investments as the lady is 84 years old.

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## Martinco

> The article has also been published in the Wall Street Journal, I see. Well, that's good enough for me.
> 
> Well done Tec0 - a home run.


Do you think that people like me that have pension funds etc with the company need worry ?

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## paulnixon

This is very unfortunate to herd about the stock exchange was fallen down in the South Africa. I don't read in the news paper. i have no idea  that how to come out from this circumstances. i felt bed for you.

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## Dave A

erm - actually our stock exchange is doing just fine  :Stick Out Tongue:

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