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Rank: Member Joined: 9/19/2010 Posts: 237 Location: Republic of Graham & Doddsville
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Is it possible that Nyoike na genge yake feared to resolve the dispute with KK under the English abitration act coz they knew they stood no chance of winning going that way? We Will Either Find a Way or Create One - HANNIBAL
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Rank: Veteran Joined: 10/17/2008 Posts: 1,234
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@Betterfly
It matters not who feared what - commercial disputes are best resolved out of the courts/arbitration processes.
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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alikujia wrote:As much as we admire Segman's stamina, i think this thing could have easily gone fatal businesswise. We should not encourage this man to continue holding the board chairmanship while still CEO. humans have some very natural personal egos which at times can be very risky.
you see, if youve to beat a retreat, it's usually easier for someone else to do it for you. @alikujia,It's the eye of the tiger, it's the cream of the fight, rising up to the challenge of our rival, And the last known survivor stalks his prey in the night And he's watching us all in the eye of the tiger
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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OK....im not sure if everyone here read the same article i did, but on reuters, they said refinery row is resolved and KK, will be paying the 600M in arrears and drop all the charges.lets think about this:
1. They should have done this a long time ago....costs of business lost...pretty silly from KK. Im sure they lost alot more than 600m in this petty standoff...this was a fight they were never going to win, I estimate the losses from this to be just shy of 1B(factoring in the 600M paid) So factor about that much out of their pre tax... .very poor show!!!
2. Ermm...people u do understand that They actually lost this?!??! coz they paid off KPRL( as some people here refer to these guys as the "evil ones") and they have to drop all law suits pertaining to KPRL....there goes VVS's more to gain, less to lose theory...
There are better priced counters than KK that are doing the right kinda business and not getting all "political" . I think 10bob is just about the right price for it...i personally wouldnt pay 10 for it, no margin of safety..again jes my opinion....
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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Horton wrote:
2. Ermm...people u do understand that They actually lost this?!??! coz they paid off KPRL( as some people here refer to these guys as the "evil ones") and they have to drop all law suits pertaining to KPRL.
@Horton, you mean KK has dropped all matters against KPRL including the dispute they forwarded for resolution to the English High Court in London?
BBI will solve it :)
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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2012, this statement will tell you everything you need to know. www.kenolkobil.com/home/...8614d80af76afeefef9476cfGOD BLESS YOUR LIFE
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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It was a useless war fought by Segman & Co...ofcourse it has ended in a crunching defeat...theyre now paying 600M...then have to pay the new tarrifs in the 2H...making the 1H results useless
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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deal, The maximum period it will take to get products is one hour after paying of taxes, from 4 days. The ministry is also holding negotiations with Treasury to have the period in which KPC can hold products reduced from 30 days to 15 days to. How useless is that? GOD BLESS YOUR LIFE
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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1)Do you guys READ what KK says in its carefully worded statements? 2)Should I translate KK's statement www.kenolkobil.com/home/...8614d80af76afeefef9476cf for you into vernacular? I read the latest Press Release from KK and NOWHERE does it address that KK has settled with KPRL... nor say it will pay KPRL the new rates... nor does it say it will withdraw the Arbitration in London... All it talks of is a new agreement with KPC... but the LAWSUITS have NOT been withdrawn against KPC... So I challenge @Horton & @thedeal to prove me wrong! In fact, KK makes it clear that there seems be mis-reporting by the media... " Management does not wish to comment on the level of accuracy of some reports in yesterday’s electronic media and/or today’s printed media." Kweli... kuongea ni bure... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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Wachana na hawa... Sore losers! There is a disconnect between what media reported nyoike said vs what KK said in WRITING... Where is nyoike's WRITTEN explanation? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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Dang... this is a super-post with over 53,000 views & counting! And this is my post #4,500... How appropriate! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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Lets get rational what is this argument about! Competing on phonetics makes no sense and does not give you any shares on wazua ltd. We need to see prices of fuel come down. Fuel is one of the biggest drivers of inflation besides Its irrational to pay 99bob for 1 liter of premium. History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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BGL wrote:Lets get rational what is this argument about! Competing on phonetics makes no sense and does not give you any shares on wazua ltd. We need to see prices of fuel come down. Fuel is one of the biggest drivers of inflation besides Its irrational to pay 99bob for 1 liter of premium. Then do not pay 99/-, go to stations that charge less (beware of fuel adulteration)... Unless MoE, GoK, KRA, KPC, KPRL, KOSF change the current 'midset' of 'We are the government therefore we know what is good for you'... little will change! KK took a courageous stand. Told KPRL that they are INEFFICIENT (& useless)... Told MoE that the OTS is being compromised... Told KPC to stop playing games with ullage... Kenya loses 5-10/- per litre of White Oils from 1960s style of Crude Oil processing! Why isn't KPRL/Essar/GoK focused on upgrading to an EFFICIENT refinery that can compete with the Indian & Middle Eastern refineries? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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2012 wrote:Horton wrote:
2. Ermm...people u do understand that They actually lost this?!??! coz they paid off KPRL( as some people here refer to these guys as the "evil ones") and they have to drop all law suits pertaining to KPRL.
@Horton, you mean KK has dropped all matters against KPRL including the dispute they forwarded for resolution to the English High Court in London? @2012. Yep thats what it says on Reuters. Segman claims the agreement was reached "for the good of the oil industry". Hogwash
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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Withdrawing cases shouldn't affect the ksh 4B matter as it has already been decided so is not a case anymore. So the only case I know is the KPRL matter at arbitration.
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Rank: Elder Joined: 7/21/2010 Posts: 6,192 Location: nairobi
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Gordon do you know of the appeal against the 4b? "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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@mlennyma, as far as I'm aware, the appeal wasn't against the award but the SIZE of the award.
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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Gordon Gekko wrote:Withdrawing cases shouldn't affect the ksh 4B matter as it has already been decided so is not a case anymore. So the only case I know is the KPRL matter at arbitration. KK's latest Press Release specifically mentions that the lawsuits against KPC has not been withdrawn... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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Stakeholder Information Sharing
The company takes exception to sensitise that as would be expected when corporate organizations like KenolKobil are faced with issues of great public interest, there is likely to be a lot of conflicting information published or broadcast across media, thus creating confusion as to the true position in such matters.
The KenolKobil Group and Local Management Teams, in close liaison with the company’s corporate affairs office, from time to time releases timely information with regard to such matters, and besides circulating it to the Nairobi Stock Exchange, the Capital Markets Authority as well as to the media, immediately publishes such information on the company’s website.
In addition, the Corporate Affairs office is in the process of collating shareholder information, specifically shareholder email addresses, so that all shareholders can be included in such communication. We request those who have not yet submitted their email addresses to submit the same to: shareholder@kenkob.co.ke
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Rank: User Joined: 6/27/2008 Posts: 709 Location: Velayat-e Faryab
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Gordon Gekko wrote:Withdrawing cases shouldn't affect the ksh 4B matter as it has already been decided so is not a case anymore. So the only case I know is the KPRL matter at arbitration. @GG KPRL cannot afford to pay the 4.6 billion awarded to KK unless the whole installation is sold to the highest bidder. It's a catch 22 for KPRL and the government. The way out would be to allow KK to be using their services without paying the commission till the award is cleared. I still don't understand why crude oil has to be refined at KPRL when it is cheaper to import refined oil. I thought market forces are supposed to work in favour of the consumer. Why does the government insist on oil marketers using the inefficient, corruption marinated KPRL ? Go overdrive in purchasing the goods when there's blood on the streets, expecially if the blood is your own
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