Page 4 - AGM Review 2012_low res
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                                                              and quantity surveyors.

                                                              During March 2012, the First National Bank (FNB)
                                                              and the Bureau of Economic Research (BER)
                                                              reported that the building confidence index rose to
                                                              34 points in the first quarter of 2012, from 29 in the
                                                              last quarter of 2011.

                                                              The FNB/BER index can vary between zero,
                                                              indicating an extreme lack of confidence, and 100,
                                                              indicating extreme confidence. It reveals the
                                                              percentage of respondents that are satisfied
                    President: Vivekananda Naidoo             with business conditions in six sectors, namely:

        As 2011 drew to a close, significant changes were      •  Architects,
        made  in  the  Association  with  the    departure  of  the   •  Quantity surveyors,
        Executive  Director Brandon  Abdinor and  arrival of   •  Main contractors,
        Vikashnee Harbhajan in January 2012.  It would be      •  Subcontractors,
        remiss of me not to thank the past Executive           •  Manufacturers of building materials and
        Director for his tenure at the Association and wish    •  Retailers of building materials and hardware.
        him well in his future endeavours.

        We are equally delighted to have with us Vikashnee
        Harbhajan who took over the reins from Brandon
        Abdinor in 2012 and we wish her every success with
        the MBA and may it grow from strength to strength
        under her leadership.

        2011 has been a rough year  for many roleplayers in
        the construction industry as conditions in the
        markets were less favourable compared to a few
        years ago. Consistent with the economic trends this
        past year, many valued members of Master Builders
        KwaZulu-Natal resigned due to financial constraints.
        In order to supplement membership services offered,
        the Association has had to dig into its investment
        coffers. The excess expenditure over income, as
        reflected in the Annual Financial Statements, before
        profits on disinvestments is also as a result of new
        business ventures undertaken by the Association to
        ensure affordable services for our members as well
        as to ensure the future sustainability of the

        Encouragingly, 2012 got off to a positive start.
        Building confidence in the first quarter of this year
        jumped to its highest level since the final
        months of 2010, boosted by higher confidence
        among contractors, building material manufacturers
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