Rand Merchant Bank Holdings (RMH), which is now property-focused after unbundling its FirstRand holding, says it is still grappling with a glut in SA's property market, which could delay plans to unlock value for shareholders.

Releasing its results for the nine months to end-March, RMH said it was too soon to tell if confidence was returning even after a “meaningful recovery” for SA’s battered property stocks, with many companies still prioritising debt reduction through asset sales...

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