Business Connexion (BCX) has liquidated around 60 dormant group entities over the last two years, as part of its plan to tidy up the group structure.
BCX simplified its group structure on the back of its revitalisation programme, which aimed to trim operating costs and boost profitability.
CFO Vanessa Olver says the company has liquidated around 60 dormant group entities over the last two years, as part of its restructuring and simplification.
Olver says the liquidated entities include Q Sapcon Consulting Services, Atlantic Ocean Properties, Kerrirod Investments, La Lucia Office Properties, Internet Commerce, PCS Computer Projects, Q Data Internet, Unibis, Business Connexion Solutions and Business Connexion Travel.
According to information provided by the Companies and Intellectual Property Registration Office, two BCX entities were folded last year: Q Data Internet and Business Connexion Solutions.
Liquidating these dormant entities simplifies the group's structure, but will not result in cost savings, Olver explains.
BCX's revitalisation programme aided the company in cutting R114.5 million in costs between May 2009 and August last year.
In the middle of last year, BCX announced it was selling assets owned by Business Connexion Technology Holdings to another subsidiary, Business Connexion (Pty).
The assets it moved were Nanoteq, which supplies supplier high-grade cryptographic security products and solutions, and its two data centre buildings.
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