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Global Statistics

All countries
695,781,740
Confirmed
Updated on September 26, 2023 9:04 pm
All countries
627,110,498
Recovered
Updated on September 26, 2023 9:04 pm
All countries
6,919,573
Deaths
Updated on September 26, 2023 9:04 pm

Global Statistics

All countries
695,781,740
Confirmed
Updated on September 26, 2023 9:04 pm
All countries
627,110,498
Recovered
Updated on September 26, 2023 9:04 pm
All countries
6,919,573
Deaths
Updated on September 26, 2023 9:04 pm

Tongaat Hulett slapped with R20 million fine for accounting irregularities

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Sugar producer Tongaat has been fined twice this year.

Sugar producer Tongaat has been fined twice this year.

The Financial Sector Conduct Authority (FSCA) has imposed a R20 million administrative penalty on Tongaat Hulett after its probe into the sugar producer found “significant” accounting irregularities.

The sugar manufacturer found itself in the crosshairs of the financial regulator after it restated its 2017 and 2018 results.

The FSCA found that the irregularities stretched over a period of six years before they were discovered.

  • READ| Tongaat Hulett boosts earnings as CEO says turnaround is on track

The watchdog initially proposed a sanction of R118 million. This was later reduced to R20 million because of cooperation from Tongaat as it sought to avoid further penalising “innocent” shareholders.

The FSCA’s fine comes after the JSE imposed a R7.5 million fine on Tongaat last month, also relating to the accounting irregularities.

An investigation by PWC, meanwhile, found “undesirable accounting practices” at Tongaat and has since led to the group taking civil action against some of its former directors and former CEO Peter Staude.

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Tongaat Hulett boosts earnings as CEO says turnaround is on track

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9 Best Golf Pants for Men in 2025, Tested by Golfers and Editors

Pros Can be worn in multiple environments outside of golf Made with four-way stretch fabric Comfortable cut Good for playing in hot weather Cons May not be as wrinkle-resistant as others on the list Drum roll please. The top prize goes to TM's Open to Close Pant, our runaway favorite of the bunch in 2025.

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9 Best Golf Pants for Men in 2025, Tested by Golfers and Editors

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