PwC has resigned as external auditor of Oceana because of a “strained” relationship with the company, and a lack of transparent communication with the board, amid a tumultuous period at the troubled fisheries and logistics group.
At the last annual general meeting, shareholders holding 38% of Oceana’s shares voted against retaining PwC as the group’s auditors. Oceana was meant to consult with shareholders on the reappointment of PwC on Monday, but instead announced on the day that PwC had resigned.
“Shareholders are now advised that late afternoon, Friday (…) PwC resigned as auditors of the group with immediate effect in respect of the audit of the financial year ending September 2022.”
Oceana said PwC said this was “due to their assessment of significant doubt as to whether there was objective and transparent communication between the board and PwC given the strained relationship, which they assert constituted a significant impairment of their independence.”
Oceana was looking at alternatives to PwC, and discussions with another of the big four auditing firms were progressing.
Monday’s meeting will still go ahead in order to provide shareholders a chance to engage with Oceana’s audit committee.
Oceana owns canned fish brand Lucky Star and also has a presence in other global markets where it sells fishmeal, fish oil and fish. It also owns a logistics company specialising in cold storage and transport of products such as fish, fruit and vegetables, poultry and meat.
Smarter business practices for the world today
Times are changing quicker than ever and for businesses, it may be difficult to keep up in some respects. It’s important to prioritize collaboration, innovation, adaptability. AI automated machinery learning capabilities, quick insights, customisation, and hybrid deployment support, make it possible for you to reach beyond your means.
1 – Prioritise the value of automation
Majority of business leaders agree that there’s a need to enable process automation, to thrive in a pandemic world. Losing 8 hours a week on manual tasks is no longer cutting it. This often leads to bottlenecking and unhappy employees, that are exiting their workplaces because of mundane, tedious tasks, that leave them vulnerable to burnout and disempowerment.
Organisations can now work less and get more done, by automating everyday administerial tasks with various tools. Data collection and reporting, communication, employee and client onboarding, approvals, and sign-offs can become both convenient and visible across the business. Empower your team to have more time on their hands for more high-value and strategic goals.
2 – Move at the speed of change, using data
Analytics are more critical than ever. Industries are changing, customers and buying behaviours are changing and so is your business. The only way you can stay ahead and build competency is to use real-time business data analytics, that will indicate and interpret every transformation and activity in your business.
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New DHL Global Forwarding Investment Into Johannesburg Facility
While it is much to early to fully grasp the economic impact of the current Covid-19 pandemic DHL has invested R127-million in a new 13 000 m2 facility. Twice the size of its current set-up and located next to the OR Tambo International Airport aimed at cementing its position within South Africa.
This new facility will consist of a 10 000 m2 warehouse that enables DHL Forwarding consolidation on all customer warehousing requirements. It will also boast will an exclusive and specialized cold chain facility that consists of three adjustable temperature-controlled refrigerators geared to handle life science and healthcare products in and out of South Africa.
The warehouse is also able to support other value-added services including cross-docking, storage for air, ocean, and road freight services, as well as a platform for breakbulk cargo. The customised built on the world-class specification with the location only a short distance from the airport and arterial thoroughfares and upcoming industrial parks, will make this new facility a complete game changer for DHL within the country.
Sustainable Truck Testing
The largest producer in heavy trucks has brought in two Liquefied Natural Gas (LNG) trucks to be tested locally. These gas-powered trucks have specifically been developed for heavy regional and long-haul operations. This local testing is being done with the vision in mind that trucks will eventually have zero emissions and the way of achieving a zero-emission system is not through one single solution but rather through several solutions in parallel.
The LNG shows promising potential as a substitute for the traditional diesel trucks, with a good supply globally, and increasing availability locally. When cooled down to a lower temperature the gas liquefies and reduces in volume thus, an increase in capacity to carry more fuel is made possible.
The powertrain in the new gas-powered trucks is thanks to the renowned diesel engine technology. Also, by using LNG rather than compressed natural gas (CNG), it can carry larger quantities of fuel and enables the necessary operating range for long-haul assignments.
The new gas-powered trucks offer the same fuel efficiency as diesel-powered equivalents and can operate at the same speed. However, since LNG is often cheaper a good opportunity exists in reduce fuel costs. With the 205kg LNG tank, European operators have seen a usable range of up to 1000km dependent on terrain and payload carried.
Testing will soon start to establish the viability of the LNG alternative to reduce climate-impact emissions from heavy commercial traffic that will bring about the change of environmentally friendly transport solutions that are good for the industry and the planet.