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Sameer Africa likely to pull EaCable stunts!!
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underweight
#1 Posted : Thursday, February 10, 2011 12:25:13 PM
Rank: Member


Joined: 1/25/2009
Posts: 184
Location: For now El-Fashier - Darfur
Last financial year despite dismal performance, Sameer Africa issued a 50 Cent dividend. This year though they issued a profit warning they are likely to pull an East Africa Cables stunt. What your take on this? Ova to you Wazuans....
"A bad decision made now is beta that a good one made later!!"
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mlennyma
#2 Posted : Thursday, February 10, 2011 12:42:34 PM
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Joined: 7/21/2010
Posts: 6,191
Location: nairobi
The guy who needs the lessons from ea cables is jonathan somen of acceskenya although he is a very rigid man to concede defeat.
"Don't let the fear of losing be greater than the excitement of winning."
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the deal
#3 Posted : Thursday, February 10, 2011 1:30:11 PM
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Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
I will never touch Sameer even if they give a 5 bob dividend...
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Aguytrying
#4 Posted : Thursday, February 10, 2011 1:57:04 PM
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Joined: 7/11/2010
Posts: 5,040
Nice one deal. Investing in some companies is just asking for trouble. And we know them!
The investor's chief problem - and even his worst enemy - is likely to be himself
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VituVingiSana
#5 Posted : Thursday, February 10, 2011 2:26:38 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,215
Location: Nairobi
I would buy Sameer for a 5/- dividend if the share was 4/-...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Tommy
#6 Posted : Thursday, February 10, 2011 2:56:31 PM
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Joined: 12/9/2010
Posts: 894
Location: Nairobi
I want to enjoy my sleep everyday, Sameer is a no no for me. I think that i will abscond anything that has Meralli in it.
Don't wait for the Last Judgment. It happens every day. ~Albert Camus, The Fall, 1956
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Gatheuzi
#7 Posted : Thursday, February 10, 2011 6:34:54 PM
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Joined: 8/16/2009
Posts: 994
I once made money in the the Firestone, but that was in in 2005, just b4 they divorced bridgestone. Those were the days coz we used to get a decent interim and a final.
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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VituVingiSana
#8 Posted : Saturday, February 12, 2011 2:29:03 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,215
Location: Nairobi
sameer is run by merali. This means only he will make money. I went to an AGM once. He is a smooth operator.
- Offers sodas & lunch to the shareholders.
- Takes photos with shareholders.
- Makes nice speeches.
- Plays to the crowd.
- Serious questions are batted away. When it is time for questions, you can see the food coming out. Most shareholders do not care about the accounts. It's the 'free' lunch.

Bottomline: He figures what the heck! He can continue skimming since no-one wants to criticize the guy who gives them lunch!!!

Look at the accounts. So many 'related-party' transactions.

Sameer Tyres could have built the Business Park but merali gave Sameer Tyres 25% & directly owns 75% of the Biz Park!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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erifloss
#9 Posted : Saturday, February 12, 2011 1:41:27 PM
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Joined: 6/21/2010
Posts: 514
Location: Nairobi
The best description of an evil genius. Look at how he cashed in on Kencell even while making losses and how they took over EA Cables when Gichuru was at the helm of KPLC.
'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
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Silk
#10 Posted : Saturday, February 12, 2011 3:37:41 PM
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Posts: 144
He is a 'smooth operator', and you don't want to be near him otherwise you can only be the victim.
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VituVingiSana
#11 Posted : Saturday, February 12, 2011 7:52:22 PM
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Joined: 1/3/2007
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Location: Nairobi
If you shake his hand... count your fingers...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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erifloss
#12 Posted : Saturday, February 12, 2011 8:52:44 PM
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Joined: 6/21/2010
Posts: 514
Location: Nairobi
VituVingiSana wrote:
If you shake his hand... count your fingers...

Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly
'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
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sparkly
#13 Posted : Saturday, February 12, 2011 10:10:08 PM
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Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
To give the devil his dues- the tire business is a tough business. The cost of raw materials and fuel in international mkt, volatile forex, cheap imports from the east. Nevertheless Sameer continues to deliver high quality n durable tires to the people of EA and employ hundreds. My worry is how long the company will continue operating on wafer thin margins. At this rate even replacing and upgrading capital assets will be a problem.
Life is short. Live passionately.
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erifloss
#14 Posted : Saturday, February 12, 2011 10:39:21 PM
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Posts: 514
Location: Nairobi
sparkly wrote:
To give the devil his dues- the tire business is a tough business. The cost of raw materials and fuel in international mkt, volatile forex, cheap imports from the east. Nevertheless Sameer continues to deliver high quality n durable tires to the people of EA and employ hundreds. My worry is how long the company will continue operating on wafer thin margins. At this rate even replacing and upgrading capital assets will be a problem.

His greed made him drop firestone/bridgestone to build his own brand. Yana is still trying to create a brand presence of which firestone/bridgestone has in terms of being there for long and they still carry alot of firepower (brand presence & resources).
'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
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Gadaffi
#15 Posted : Sunday, February 13, 2011 1:16:00 PM
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Joined: 2/13/2011
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Merali is a success as an investor bt his shares are a no buy zoneShame on you Shame on you neva eva!!!
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Ceinz
#16 Posted : Sunday, February 13, 2011 1:56:05 PM
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Joined: 5/7/2009
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Location: Sea of Transquility
Gadaffi wrote:
Merali is a success as an investor bt his shares are a no buy zoneShame on you Shame on you neva eva!!!


B4 u buy his shares ask urself What in for him, not for u.
“small step for man”
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For Sport
#17 Posted : Sunday, February 13, 2011 6:57:14 PM
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Joined: 12/23/2010
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erifloss wrote:
VituVingiSana wrote:
If you shake his hand... count your fingers...

Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly


Laughing out loudly
wicked. was trying to picture myself counting my fingers
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qw25041985
#18 Posted : Sunday, February 13, 2011 7:06:36 PM
Rank: User


Joined: 5/9/2010
Posts: 1,418
Location: Nai
For Sport wrote:
erifloss wrote:
VituVingiSana wrote:
If you shake his hand... count your fingers...

Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly


Laughing out loudly
wicked. was trying to picture myself counting my fingers


Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly . i dnt know this old man ( @ VVS ) has a sense of humor .
Your future depends on your dreams so go to sleep !
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