Sekunjalo rejects the scurrilous attempt by Times Media Group, Sunday Times to smear its reputation and good name
Chief Executive Officer of Sekunjalo Investments Limited, Mr Khalid Abdulla said "the latest attempt by the Sunday Times is a cheap shot aimed at Sekunjalo" (see report). It is well known that Premier Fishing SA (Pty) Ltd (Premier Fishing) is in discussion with the Competition Commission around an investigation into the small pelagic industry and this is yet another desperate attempt by the Sunday Times to portray Premier Fishing in a bad light.
Sekunjalo has been subjected to defamatory attacks by the Times Media Group (TMG) over the last few months since Sekunjalo Holdings acquired the competitor to TMG, Independent News Media South Africa (INMSA). TMG Newspapers and online have published almost 60 articles on Sekunjalo since its acquisition of INMSA. In almost all instances the articles are defamatory and an attempt to paint a negative picture of Sekunjalo in the eyes of the public, readers and advertisers. This shameful attempt by Sunday Times and TMG's associated newspapers and online sites is a desperate attempt to undermine INMSA in the market place.
Premier Fishing and Sekunjalo are very hesitant to comment as we respect the authority of the Competition Commission during this process. However, Sekunjalo has been forced to defend its public reputation due to the malicious campaign by the Sunday Times to defame the company. This is the second time in as many months that the Sunday Times completely disregards and disrespects regulatory authorities and their process by publishing information which is not complete and uses it to create the impression that the company has committed a transgression.
The complaint against Oceana, (the largest industry player in small pelagics) and smaller fishing companies such as Premier Fishing relates to the use by the entire industry of the application of a raw fish formula to determine the remuneration of vessel owners, skippers and crew. It should be noted, that the process of remunerating skippers, crew and boat owners was prevalent across the pelagic industry for more than 40 years, pre-existing the acquisition of Premier Fishing by Sekunjalo Investments Ltd.
The matter involving Premier Fishing is much narrower in scope than the matter relating to all the other fishing companies and in respect of which Oceana concluded a consent order with the Competition Commission. The alleged contraventions of the Competition Act are technical in nature and not typical of blatant collusive activity and we reserve our rights in this matter.