Transnet Port Terminals (TPT) is a division of Transnet Limited and is responsible for operating terminals at Transnet’s Ports across South Africa.
TPT required the valuation of certain assets currently owned and / or managed by TPT at the following locations:
In terms of Transnet’s Accounting Policy, all Port Operating Assets require an independent valuation every three years with an index valuation in the intervening periods.
The work was undertaken by Hickman Shearer with a South African engineering firm, whom team members have successfully worked with for over 10 years.
Hickman Shearer and our South African based partner, successfully valued the seven ports.
The scope of the job included over 95% of assets being verified and audited.
As a result of our work, our valuation was successfully reviewed by TPT’s auditor for inclusion with their annual accounts.
In addition, we provided TPT with the appropriate indexes for intervening years, which enabled the client to reduced valuation costs.
The consultant’s team was very professional, addressed all our requirements, and showed commitment throughout the assignment, producing good quality work.