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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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http://www.nation.co.ke/.../-/53w6pqz/-/index.html
More trouble for NOCK aka Kenyan taxpayers! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 4/25/2008 Posts: 192 Location: Nairobi
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milken wrote:
Apparently, we are yet to see more drama. NOCK has informed OMC's that the cargo they brought yesterday will be priced on March Average. This is absurd since there is no way this vessel loaded in March but NOCK are claiming that they did a Ship to Ship transfer (which is prohibited under OTS terms). OTS terms are very clear that cargoes brought before 15th should be on last month's average. Additionally ERC pricing is calculated on last month's basis.
For the last two days the prices are US$70.50 per ton (about Kes6.74 per Lt)higher that Feb average. Which begs the question, how on earth are OMCs supposed to price product whose real cost will be known on April 1st?
The only way NOCK can go around this is to have MOE issue a waiver and have ERC incorporate NOCK's cargo in March pricing. Of course somebody will take home about US$4M (i.e 56,000MT multiplied by US$70.5) which the Kenyan motorist will pay.
Now do you see how NOCK was able to quote a half of everybody else?
Am tempted to say told you so on March 1st Itari muting'oe ihuragwo ngi ni Ngai
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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Well, nothing surprising about the FACT that the folks at MoE & NOCK are CROOKS... I am sure nyoike & kiraitu are getting some percentage of the action! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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VituVingiSana wrote:http://www.nation.co.ke/business/news/-/1006/1128818/-/53w6pqz/-/index.html
More trouble for NOCK aka Kenyan taxpayers! @vvs, Did you actually post this at (masaa ya mwizi) 2.41am? The former NOK MD, Mwendianyaga (or something) must be relieved not to be in that hot kitchen, Kiraitu too.
BBI will solve it :)
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Rank: New-farer Joined: 2/17/2010 Posts: 47 Location: Nairobi
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looking at a forward price forecast of 18+ when those IPOs start coming and the market roars People who look for easy money invariably pay for the privilege of proving conclusively that it cannot be found on this sordid earth
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Rank: Elder Joined: 3/2/2009 Posts: 26,330 Location: Masada
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liomungai wrote:looking at a forward price forecast of 18+ when those IPOs start coming and the market roars 18+ sounds to me like gold.  Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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This is the most commented on topic [#1487] & viewed over 159,000 times! BTW, below is a story on more inefficiencies at NOCK & KPC http://www.businessdaily...2/-/ar0e7az/-/index.htmlGreedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 3/2/2009 Posts: 26,330 Location: Masada
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VituVingiSana wrote:This is the most commented on topic [#1487] & viewed over 159,000 times!
 This is the most commented on thread: http://www.wazua.co.ke/f...aspx?g=posts&t=8244
And the Phombe thread could be in top 10. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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LOL for biashara! Not fnootiball  Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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Down to 9.35 today..is a price below 9 bob possible by Friday? this is one stock i'm happy buying in this bear market.
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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The Kerstril KK Buy recommendation is garbage ati they see 2010 FY EPS at 1.14.
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Rank: Elder Joined: 9/29/2006 Posts: 2,570
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the deal wrote:The Kerstril KK Buy recommendation is garbage ati they see 2010 FY EPS at 1.14. >>>That was then. If they did analysis today it probably would be different though they (KK &Kestrel) are linked according to heresy. The opposite of courage is not cowardice, it's conformity.
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Rank: Elder Joined: 9/29/2006 Posts: 2,570
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Ignore The opposite of courage is not cowardice, it's conformity.
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Rank: Veteran Joined: 6/17/2009 Posts: 1,622
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the deal wrote:The Kerstril KK Buy recommendation is garbage ati they see 2010 FY EPS at 1.14. I hold they will beat that!.All there is to say about KK has been laid out in detail on this thread and others,we don't have long to wait to learn who made the right call.
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Rank: Elder Joined: 3/2/2009 Posts: 26,330 Location: Masada
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I just wonder how the soon to be announced result will affect this stock price;wanted to exit today or add more today! Any advice people?Do you think the price will go sub 9 bob towards 7-April-Ocampo?  Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 9/29/2006 Posts: 2,570
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Impunity wrote:I just wonder how the soon to be announced result will affect this stock price;wanted to exit today or add more today! Any advice people?Do you think the price will go sub 9 bob towards 7-April-Ocampo? @impunity. I've always desired more of KK. I wanted to exit KPLC and add KK but the former is not behaving as supposed pre-book-closer. KK should delay results! The opposite of courage is not cowardice, it's conformity.
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Rank: Elder Joined: 3/2/2009 Posts: 26,330 Location: Masada
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jerry wrote:Impunity wrote:I just wonder how the soon to be announced result will affect this stock price;wanted to exit today or add more today! Any advice people?Do you think the price will go sub 9 bob towards 7-April-Ocampo? @impunity. I've always desired more of KK. I wanted to exit KPLC and add KK but the former is not behaving as supposed pre-book-closer. KK should delay results! If the results are positive I see the price hitting 12 bob by end of April;then I can exit temporarly,pocket the change then come back fully for longer term at say 9.50 and hope it hits the 18+ bar. Is this scenario possible? Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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Impunity wrote:If the results are positive I see the price hitting 12 bob by end of April Should be good. I can't see why it would be otherwise. I heard from a little birdie from the 4th estate that announcement ni kesho... I expect KK 2010 results to be better by far than 2009 because the Q1 2009 was dead for business coz of the PEV and that's why Sameer 2010 results are a shocker!
BBI will solve it :)
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Rank: Elder Joined: 3/2/2009 Posts: 26,330 Location: Masada
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2012 wrote:I heard from a little birdie from the 4th estate that announcement ni kesho... ! Let us wait for kesho,in the meantime let me bid for another 3000 shares at 9.40. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 6/2/2008 Posts: 1,438
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I expect the results to be good but NOT GREAT, although an improvement over 2009. However, the results will be coming at a time when the market is in a very DESPONDENT mood. Given this scenario, unless there is a BONUS and/or a VERY GOOD DIVIDEND, it is unlikely that there will be a major improvement in price i.e. over the 10 Shs level in the short term.
It may be worth noting that just before an annoucement when results are expected to be good there will usually be a lot of activity in a stock, usually with increasing prices. I have not seen any of this with KK. But I could be wrong!
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