Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Was crawling the net and came across this interview - https://www.youtube.com/watch?v=u-bIOxJqD_s$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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@e_kijana (post 379 and 380), the rights issue + offer was in Nov-Dec 2010. The money is reflecting in the 2010 and 2011 results. It was applied as follows:
*Investment in banks FDR in 2010 – KES 705,390,000
*Investment in government securities in 2010 – KES 238,127,000
*Investment in government securities in 2011 – KES 1,383,726,000
As at end of FY 2011, they had 2.76 Billion in FDRs and 2.47 Billion in Government securities (held to maturity). Their 2 greatest investments!!!
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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mwekez@ji wrote:@e_kijana (post 379 and 380), the rights issue + offer was in Nov-Dec 2010. The money is reflecting in the 2010 and 2011 results. It was applied as follows:
*Investment in banks FDR in 2010 – KES 705,390,000
*Investment in government securities in 2010 – KES 238,127,000
*Investment in government securities in 2011 – KES 1,383,726,000
As at end of FY 2011, they had 2.76 Billion in FDRs and 2.47 Billion in Government securities (held to maturity). Their 2 greatest investments!!! I saw that too and wondered was it hindsight or sheer luck. The fact that they also don't hold equities unlike the other insurance firms also saved their skin last year as the NSE nose-dived.
The P/E is a bit expensive compared to its peers, but I like the growth momentum. If maintained, Mr Market shouldn't have issues with it. E.g. EABL P/E is in the 20's in this market!
However I wonder if it can sustain a huge rally going by the huge share volume it brings. It'll be very liquid and the share price will be equally volatile. Good thing saccos will be long term holders. Since Mr Market has been partying with insurance stocks of late, I expect on listing the share to spike up and sustain the bid.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 1/17/2009 Posts: 55
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@Hisah - They have done T-Bills for past 3-5 years. I recall the only listed stock they have is 1,000,000 shares in co-op which they had held from the days it was unlisted. I note that they prefer a known fixed return that T-Bills held to maturity gives as they focus of the insurance business
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Rank: Member Joined: 1/17/2009 Posts: 55
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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@e_kijana, investing in government securities for the last 5 years says that CIC is risk averse. Quite paradoxical coz they are an insurance company in the business of risk.
However, I must commend them for doing well in their core insurance business. When are they setting foot outside the Kenyan borders coz it looks like they are keen in sticking to what they know best, insurance
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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I also like what I see but ...
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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@the deal, well noted that they bought 200 acres in kamiti, kiambu which the ceo says they will carry out initial developments on the land. How soon will he do the initial developments? Kenyans are loving companies that are moving to real estate
The construction of CIC Plaza phase 2 that will be completed by EY will only increase rental income and that will not be astronomical
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Rank: Member Joined: 1/20/2009 Posts: 13
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When is CIC paying the dividends?
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Rank: Member Joined: 1/17/2009 Posts: 55
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@Investor1. I understand they will be sending to the postal addresses on 28th May - Monday.
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Rank: Member Joined: 1/20/2009 Posts: 13
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Rank: Member Joined: 1/17/2009 Posts: 55
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from Co-op Q1 results:
Share of profits from associate - CIC in Q1 is at a Massive Ksh 121M
Considering that Co-op owns ~26% of CIC, It means that CIC Q1 profits is Ksh 465M. They have achieved in Q1 slightly more that half what they achieved in 4 quarters OF 2011. This will be a muscular yar for CIC!!
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Rank: Veteran Joined: 8/11/2010 Posts: 1,011 Location: nairobi
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e_kijana wrote:from Co-op Q1 results:
Share of profits from associate - CIC in Q1 is at a Massive Ksh 121M
Considering that Co-op owns ~26% of CIC, It means that CIC Q1 profits is Ksh 465M. They have achieved in Q1 slightly more that half what they achieved in 4 quarters OF 2011. This will be a muscular yar for CIC!! money googles
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Rank: Member Joined: 9/21/2006 Posts: 422 Location: Nairobi
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e_kijana wrote:from Co-op Q1 results:
Share of profits from associate - CIC in Q1 is at a Massive Ksh 121M
Considering that Co-op owns ~26% of CIC, It means that CIC Q1 profits is Ksh 465M. They have achieved in Q1 slightly more that half what they achieved in 4 quarters OF 2011. This will be a muscular yar for CIC!! He he heeeeeeeeeeee, umenichekesha saaaaaaana sana tu! CIC has not even released its first qtr 2012. Wewe...... pole mzee, Its the dividends Co-op bank earned in CIC for yr 2011 that was received by Co-op bank in their 1st qtr 2012 hence an income in that qtr. I hope I made yu understand.
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Rank: Member Joined: 7/17/2008 Posts: 152
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I don't know between kijana and layman who should be laughing at the other.
@Layman, How is it that CIC dividend for 2010 was kshs.1.60 per share and coop bank got kshs 153M and when dividend goes up in 2011 to kshs 1.80 and the bank increase shareholding from 22% to 26% they are now getting kshs 121M.
If anything, as at 31st march 2012 CIC had not paid dividend (even to date). But it is possible that the bank could estimate the earnings from the unaudited Q1 results.
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Rank: Member Joined: 1/17/2009 Posts: 55
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@Layman- you are truly a layman  because you are guessing here. Learn how to read financial statements. I will quickly prove that you are wrong... Total dividend for fy2011 for CIC is 0.09x2.2billion=ksh 198m. Are you saying that co-op with ~26% will be paid 121m out of 198m total dividend? Do the math as it will show your that is ridiculous. Read my post again and learn:)
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Rank: Member Joined: 1/17/2009 Posts: 55
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@layman-CIC doesn't have to announce for co-op to know. It's an associate company after all so there are other channels...
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Rank: User Joined: 1/24/2012 Posts: 1,675 Location: In Da Hood
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@ layman . if financial statements are very hard ( and they are ) just look at the charts . its all there !
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Rank: Member Joined: 4/14/2011 Posts: 639
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Layman wrote:e_kijana wrote:from Co-op Q1 results:
Share of profits from associate - CIC in Q1 is at a Massive Ksh 121M
Considering that Co-op owns ~26% of CIC, It means that CIC Q1 profits is Ksh 465M. They have achieved in Q1 slightly more that half what they achieved in 4 quarters OF 2011. This will be a muscular yar for CIC!! He he heeeeeeeeeeee, umenichekesha saaaaaaana sana tu! CIC has not even released its first qtr 2012. Wewe...... pole mzee, Its the dividends Co-op bank earned in CIC for yr 2011 that was received by Co-op bank in their 1st qtr 2012 hence an income in that qtr. I hope I made yu understand. you are equally ignorant...the proposed dividend for 2011 is 196m for all shareholders so coop entitlement is around 50m!!!!
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