Horse Racing at Phumelela's Heart

The article in the Sporting Post regarding this subject is interesting and so are the opinions expressed by the CEO.

I do find some of the statements to be very subjective and one sided and i do not believe that it is balanced in terms of the whole story.

1. Exchange rates are always going to be volatile, this is no mystery or surprise however i wonder what happens to the profit when it is in your favour, certainly does not go to punters or stakes.

2. To say that part of the widening loss is due to an increase in prize money insinuates that it there should be no increase to stake money??? Very confusing when the stakes of an average race are already so low.

3. The point of the Met being so exciting and important must have been included to justify the added prize money on the day.....once again confusing when considering point 2 and even more strange are the limited number of owners who benefited from these added stakes on the day.

4. "SA's largest turf owner does not intend to stop betting on horses" ....is there a belief that this is an option??? Wow, so the RA and owners would consider keeping the overseas operation going and stop local racing? maybe i am missing something....

5. Phumelela would not exist if it was not for local racing and its assets which were paid for by owners and punters over many years. The idea that Phumelela has the exclusive rights to the existence & expansion of the foreign income rather than it being a natural evolution is laughable. DOn't get me wrong, i am not saying they haven't done a lot of work growing it but then again what were they expected to do for their salaries?

6. I am sure the foreign income exists on the basis of some sort of contract? Surely SA racing must stage a certain number of races? Surely this is not possible without local owners & race horses? Maybe there is a belief that Phumelela can exist on the foreign turnover of R174 million....

What i do believe is sad is that there is no talk of any turnaround strategy to get local punters interested again or talk of attracting new owners or improving the racing experience for all its customers.....but then again maybe it is just about the investors profits.

Operators do not care for owners, it is all about the money

I have it first hand from an ex executive that there is no focus on local racing at Exco meetings!
They pay lip service to local racing and have asset stripped it.

In consideration for owners rights to broadcast races, Phumelela agreed to pay the stakes for the owners racing their horses. Phumelela's biggest money spinner has been the broadcasting of our racing overseas. Does any of this go towards the betterment of racing? I think not.

While local racing is supposedly deep in the doldrums could anybody explain why the exec in charge of local betting received a multi million rand payout recently? Things are so bad the directors have paused at the trough

WA Du Plessis 516 861 1739 8 988 213 Buy 08 Feb 2017
VJ Moodley 21 276 1739 369 990 Buy 08 Feb 2017
JA Stuart 58 536 1739 1 017 941 Buy 08 Feb 2017
AW Heide 37 738 1739 656 264 Buy 08 Feb 2017
MJ Jooste 968 956 1739 16 850 145 Buy 08 Feb 2017
CJH Van Niekerk 10 342 1739 179 847 Buy 08 Feb 2017
B Kantor 968 956 1739 16 850 145 Buy 08 Feb 2017
JB Walters 9 827 1739 170 892 Buy 08 Feb 2017
WA Du Plessis 809 1739 14 069 Buy 08 Feb 2017
WA Du Plessis 249 034 1739 4 330 701 Buy 08 Feb 2017

All these preferential shares "bought" at 1739 with a ruling price of 2100. Nice business to be in when the performance is soooooo bad. I wonder what they will award themselves when the company "performs"

And people tell us that racing is in trouble. It is. It has been raped by those in charge.

What about the subsidiary companies of P that are providing services to P at rates higher than the norm? Thats incest.

Jurgs wrote: What about the subsidiary companies of P that are providing services to P at rates higher than the norm? Thats incest.

Please explain

AW Heide is with the NHRA.
Are these pref shares?

Andreis Heide I think is CFO of Phumelela.

And yes James they would have to be preferential shares at that discount

Only name I recognise apart from the obvious is John Stuart and he's head of the International wing i think, so probably deserves a pat on the back for performance ?

Maybe the other guys are in his team ?

SW SOLITIONS. Is an example.

www.securitysa.com/56018n


I wonder if this interest in a major supplier to Phumelela has been declared by the CFO? I wonder how Recall Security felt losing their contract and it got replaced by SW who has a Phumelela director on their board?

Taken from the Phumelela website. Strange to see :whistle: :whistle: :whistle:

Recall Effective Security Services to sponsor East Cape Derby

Recall Effective Security Services is to sponsor one of South Africa’s oldest feature races, the East Cape Derby for three-year-olds to be run over 2400m at Arlington in Port Elizabeth on Sunday 15 May.

The Derby will be the highlight of a two-day racing festival in Port Elizabeth. The festival kicks off with a race meeting at Fairview on Friday 13 May, when the Dahlia Plate powered by Die Son over 1200m will head the programme. Die Son is the official media partner of the festival, which wraps up with the East Cape Derby meeting two days later.

The Derby meeting will offer fun for the entire family and there’s R10,000 in cash to be won in an on-course lucky draw.

"The East Cape Derby has a special place in my heart because my horse Lizard’s Desire won the event as a three-year-old," said Albert Boshoff of Recall Effective Security Services. "We are looking forward to the day and believe it will do much to expand awareness of Recall Effective Security Services."

The company originated in South Africa in 1989 and is a wholly owned South African entity. The company’s vision is to be a highly respected and specialised professional security company providing integrated security solutions using a skilled workforce and state of the art technology.

"We are delighted that Recall has the East Cape Derby as a platform to publicise their brand," said Phumelela Group CEO Rian du Plessis. "We are committed to building the East Cape Derby into a major social and racing event and we look forward to working with Recall."


Working with Recall? Looks like they worked them over properly!!!