REMGRO’s annual financial statements to endMarch 2011 show a marked jump in guarantees and contingent liabilities to R2,2bn from R389m in its last financial year. According to a note on its financial statements the increase relates mainly to two tax assessments received from the SA Revenue Service. One assessment of R894m relates to the buyback and cancellation of treasury shares; the other assessment of R690m issued about the disposal of an (unspecified) investment. Remgro says the assessments are being disputed. The guarantees and contingent liabilities represent around 4% of Remgro’s market capitalisation.