Sparks Electrical News June 2019

CONTRACTORS’ CORNER

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SEEN AT THE A-OSH EXPO A-OSH EXPO turned nine in 2019 and took place from 14 to 16 May 2019 at Gallagher Convention Centre, Midrand. A truly proudly South African show, the expo provided holistic access to all things related to wellness and safety at work. This included health-at-work programmes, environmental issues, personal and protective equipment, working at height, and hazardous equipment and chemicals. The valuable seminar theatre sessions were free-to-attend, and the exhibitor stands gave visitors access to the newest products and services with many exlusive launches at the show. For the first time this year, there were three shows under one roof – A-OSH EXPO once again co-located with well-respected security and fire exhibition, Securex South Africa, which is now in its 26 th year. In addition, the Facilities Management Expo, which showcases products and services associated with property and building management and maintenance, was also co-located.

Nathan Potgieter and Richard Huyerman from Citiq Prepaid at A-OSH EXPO 2019.

Part of the large team from ACDC Dynamics who were highly visible at the event.

Enquiries: www.aosh.co.za

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THE FALL OF JDL ELECTRIC

After D-Day, three large interested players in the in- dustry moved swiftly, performing their due diligence calculations. After two weeks, the highest bid of R26.2m was made for the JDL group of company’s names, assets and debtors’ book. The replacement value of this was over R60m, but the group still owed its creditors for the stock, which was the main reason the bank refused to issue any umbrellas during the storm. The bid that would at least have given credi- tors nearly half their money back was declined by our investment banker’s attorney, due to a technicality of the law. It was devastating to accept that these funds could not flow back to the creditors. At this stage, I fear that 10c in the Rand is optimistic. Why did we decide to move? In March 2018, after three consecutive record months, a unanimous board decision was made: JDL Electric would expand. This would include moving to a 6500 m² facility and opening satellite branches. Our current parking and storage facilities were not enough to satisfy our client’s demands and survey results revealed 80% of our turnover was within a small 15 km radius. What does the future hold? I am blessed to have been given an opportunity to continue doing what I love, albeit, working for someone else. For the past 25 years, electrical wholesaling has been all that I have known. The electrical industry is as tough as any out there. The upside is that one sells essentials that are required in both new and maintenance installations. We are not selling non-essential, or luxury commodities. My advice to the industry is to be careful when making the leap from an SME to a large enterprise. Help addicts who want to be helped. Get rid of the rest. Make sure you have only the right people working with you, who are honest and love what they do. Manage your overheads diligently and do not let free loaders take advantage of your kindness. Stay away from debt! Once again, I apologise to staff, suppliers and clients who have suffered. I wish you all the best and hope you are able to get your lives back on track and prosper once again.” Were you affected by the liquidation of JDL? Email your comments to Sparks Electrical News at sparks@crown.co.za for publication in a future issue.

Enquiries: info@keyelectric.co.za

SPARKS ELECTRICAL NEWS

JUNE 2019