1.Coat beef in flour, shake away excess. Heat oil in a large saucepan. In batches, cook beef until browned. Remove from pan.
2.Stir onion, garlic and bacon in same heated pan until bacon crisps. Add paste and continue stirring for 1 minute.
3.Return beef to pan with stock, tomatoes and sauce; bring to the boil. Reduce heat and simmer, with lid on for 1 hour, stirring occasionally.
4.Add potato, kumara and capsicum to pan. Simmer with lid off, stirring occasionally, for 30 minutes or until beef is tender. Season to taste. Serve sprinkled with thyme.