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Mhasibu Investment Company Limited (MICL) Rights
Rank: Member Joined: 6/17/2011 Posts: 229
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MICL selling Rights to members at a price of Ksh. 150 per share, and to non-members at a price of Ksh.160 per share on condition that they buy shares whose total value is Ksh.1.0 million or more. Those buying such shares whose total value is less than Ksh.1.0 million will buy them at Ksh.165 per share. Has any Wazuan invested in this company? They aim to grow and list at the NSE. What are the prospects?
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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eco wrote:MICL selling Rights to members at a price of Ksh. 150 per share, and to non-members at a price of Ksh.160 per share on condition that they buy shares whose total value is Ksh.1.0 million or more. Those buying such shares whose total value is less than Ksh.1.0 million will buy them at Ksh.165 per share. Has any Wazuan invested in this company? They aim to grow and list at the NSE. What are the prospects? So those of us who have never been to an accounting class and do not qualify to join Mhasibu sacco can join the Investment Company. There is still time to apply and to make payments for those who are risk takers. 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: Veteran Joined: 10/11/2009 Posts: 1,223
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They are very efficient in replying to emails. The offer closes on 31.05.2012 and they say the minimum investment is 120K. I also noted that the current Centum CEO is also a member of the board. 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: Member Joined: 4/20/2012 Posts: 888
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Thanks for the information.
Is this company that is being referred to here the one that was selling plots..read, Runda, Ruiru one and Ruiru two and Juja? More than two years and they are yet to process the tittle deeds. How will they do business in future with this reputation!!
@eco kindly furnish us with the company's details...i.e performance for the last five years and company's information. How are investors supposed to invest based on numbers ( Price of the shares). Can you also provide successful ventures that has been undertaken by the company.
I smell a rat!!
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Rank: Member Joined: 6/17/2011 Posts: 229
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MKWASI wrote:Thanks for the information.
Is this company that is being referred to here the one that was selling plots..read, Runda, Ruiru one and Ruiru two and Juja? More than two years and they are yet to process the tittle deeds. How will they do business in future with this reputation!!
@eco kindly furnish us with the company's details...i.e performance for the last five years and company's information. How are investors supposed to invest based on numbers ( Price of the shares). Can you also provide successful ventures that has been undertaken by the company.
I smell a rat!! There is a Mhasibu Housing Co. Ltd, selling plots in Nyeri-King'ong'o, Juja, Nakuru, Kisumu. Then a Mhasibu Investment Co. Ltd, selling plots in Twinmount Estate, Nyeri whose description is the same as those of Nyeri-King'ong'o being sold by Mhasibu Housing Co. Ltd. The origin of both companies is Mhasibu Sacco which features in another thread. @Mkwasi, I was seeking for the same information you ask when I started thread.
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Rank: Member Joined: 10/14/2011 Posts: 661
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eco wrote:MKWASI wrote:Thanks for the information.
Is this company that is being referred to here the one that was selling plots..read, Runda, Ruiru one and Ruiru two and Juja? More than two years and they are yet to process the tittle deeds. How will they do business in future with this reputation!!
@eco kindly furnish us with the company's details...i.e performance for the last five years and company's information. How are investors supposed to invest based on numbers ( Price of the shares). Can you also provide successful ventures that has been undertaken by the company.
I smell a rat!! There is a Mhasibu Housing Co. Ltd, selling plots in Nyeri-King'ong'o, Juja, Nakuru, Kisumu. Then a Mhasibu Investment Co. Ltd, selling plots in Twinmount Estate, Nyeri whose description is the same as those of Nyeri-King'ong'o being sold by Mhasibu Housing Co. Ltd. The origin of both companies is Mhasibu Sacco which features in another thread. @Mkwasi, I was seeking for the same information you ask when I started thread. @eco @ MKWASI let me have your email
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Rank: Member Joined: 6/17/2011 Posts: 229
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Thiong'o wrote: @eco @ MKWASI let me have your email @Thiong'o, my email is funecosystems [at] gmail [dot] com
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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eco wrote:Thiong'o wrote: @eco @ MKWASI let me have your email @Thiong'o, my email is funecosystems [at] gmail [dot] com My email is: Bgl.inc.1[at]gmail.com 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: Member Joined: 4/20/2012 Posts: 888
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@Thiong'o My email is mkwasiwembe@gmail.com
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Rank: Member Joined: 6/17/2011 Posts: 229
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@Thiong'o, received, I appreciate. Regards.
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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eco wrote:@Thiong'o, received, I appreciate. Regards. I got it too. Thanks 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: Veteran Joined: 10/11/2009 Posts: 1,223
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Mhasibu to list at NSE once it hits Sh1 billion in assets http://www.businessdaily.../-/rhukc0z/-/index.html
@hunder...... na wale wengine interested in OTC. As i have said in other posts, MICL is very active in the OTC market. The good thing with MICL is that the board members hold the majority shares...... the strategy of VVS. You can download their audited 2011 accounts here http://micl.co.ke/images...L%20Accounts%202011.pdf
The wazua experts like bwana @deal please peruse the numbers and tell us how far MICL assets are from 1bn. 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: Member Joined: 2/22/2010 Posts: 510 Location: De egg
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@BG what is the current OTC prices for this share and which brokers could be dealing with them . Peace be with you
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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maligumu wrote:@BG what is the current OTC prices for this share and which brokers could be dealing with them . Its an in-house process by the company secretary (no brokers) OTC done once a month! Those selling are asking for Ksh 170. Bids are opened on a specified bid and the highest bidder gets the shares. 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: Member Joined: 4/2/2011 Posts: 629 Location: Nai
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BGL wrote:maligumu wrote:@BG what is the current OTC prices for this share and which brokers could be dealing with them . Its an in-house process by the company secretary (no brokers) OTC done once a month! Those selling are asking for Ksh 170. Bids are opened on a specified bid and the highest bidder gets the shares. Based on the financials the valution of 170 bob sounds too high. with a PE f 17 bob, investment in MICL sounds more like an investment in potential which is tricky for thinly capitalised companies.
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Rank: Member Joined: 6/17/2011 Posts: 229
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I took the risk and bought the rights. If micl maintains good management, remains diversified and maintain the growth in asset portfolio, the milestone of 1 B is achievable.
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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When is MICL publishing their Financial report for FY2013? 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: Elder Joined: 6/21/2008 Posts: 2,490
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BGL wrote:When is MICL publishing their Financial report for FY2013? They should first process the titles of the plots they sold over 4 years ago!!!NKT The man who marries a beautiful woman, and the farmer who grows corn by the roadside have the same problem
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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I attended the MICL AGM yesterday @ Serena Hotel. Here are the highlights. - MICL has 327 shareholders with top 10 shareholders holding 51.85% stake and half of them are board members. - Total assets up to 747mn from 530mn - Net profit jumped from 7.4mn to 122.7mn in FY 2013. -EPS up to 101.07 from 6.71 - As is the tradition, no dividend is declared BUT a BONUS of 1 share for every 5 held was passed. - There is an active OTC market for those wishing to convert their bonus shares into dividend -The company is looking forward to investing in development of a housing project targeting the middle + lower middle class segment in the future.....a shareholder briefing coming soon. 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: Member Joined: 6/17/2011 Posts: 229
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BGL wrote:I attended the MICL AGM yesterday @ Serena Hotel. Here are the highlights.
- MICL has 327 shareholders with top 10 shareholders holding 51.85% stake and half of them are board members.
- Total assets up to 747mn from 530mn
- Net profit jumped from 7.4mn to 122.7mn in FY 2013.
-EPS up to 101.07 from 6.71
- As is the tradition, no dividend is declared BUT a BONUS of 1 share for every 5 held was passed.
- There is an active OTC market for those wishing to convert their bonus shares into dividend
-The company is looking forward to investing in development of a housing project targeting the middle + lower middle class segment in the future.....a shareholder briefing coming soon. Thank you @BGL for the brief. Did the AGM agree on a new share price?
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