This week, Group Five became the latest construction company to file for bankruptcy protection. Others include Basil Read Holdings, a unit of Esor Ltd. and the Liviero Group.
It is sad to think that SA's construction firms were some of the mightiest companies in the country slightly more than a decade ago, says Schalk Louw, portfolio manager and strategist at PSG Wealth Old Oak told Business Insider SA.
In March 2008, Aveng, Murray & Roberts and the cement producer PPC were big constituents among the top forty companies of the JSE, the FTSE/JSE Top40.
Today, all three companies together are smaller than the smallest company in the Top 40 index at end-March 2008, which was Netcare.
Louw compiled a graph charting the stunning fall from grace of these companies on the JSE. The red line is Group Five, the blue line is Aveng, green is Murray & Roberts and the yellow line is PPC. The top orange line is the JSE's all share index.
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