Today's Big Stories

Guptas can run business empire from anywhere in the world - investor expert

After months of political tension, two of the Gupta brothers have reportedly left South Africa and resigned from their Oakbay Investment Company.

The close ties between President Jacob Zuma and the Gupta family have raised suspicions and allegations of state capture.

It is reported that Atul and Ajay Gupta left on a private jet to Dubai on Thursday last week.

Investor risk analyst Daryl Ducasse says the Gupta family have significant enough power to control Oakbay Investments from anywhere in the world.

Ducasse says that because the company is listed on the JSE, it is much easier for the Guptas to liquidate or dispose of their shares - though highly unlikely.

One would need an excess of 50% of the shareholders to vote to pass a resolution. It appears that Oakbay Investments controls about 80%of Oakbay Resources and therefore they have significant control to control it from anywhere in the world.

Daryl Ducasse, Investor risk analyst at Merkurius Capital Solutions

According to Ducasse, despite the market perception, the investment holding company stands to gain a great deal of value from future acquisitions.

Listen to the full conversation from The Midday Report:


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