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Housing Finance: HFCK a diamond in the rough
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mwekez@ji
#241 Posted : Sunday, September 30, 2012 8:34:51 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
guru267 wrote:
mwekez@ji wrote:
The 40% is clearly incorrect. It is best you apply professional skepticism when putting up your posts to avoid misleading many.


That is why i said "apparently"... I also said that i stand to be corrected!!


huh! .... N'way, we let it go!
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Aguytrying
#242 Posted : Sunday, September 30, 2012 8:49:37 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
guru267 wrote:
mwekez@ji wrote:
The 40% is clearly incorrect. It is best you apply professional skepticism when putting up your posts to avoid misleading many.


That is why i said "apparently"... I also said that i stand to be corrected!!


@guru. check out the HFCK coporate note info memorandum(availableat wazua google groups-25th sep). They have included recent mortgage market share there
The investor's chief problem - and even his worst enemy - is likely to be himself
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Richie rich
#243 Posted : Sunday, September 30, 2012 9:46:55 PM
Rank: New-farer

Joined: 9/29/2012
Posts: 79
Aguytrying wrote:
sparkly wrote:
PKoli wrote:
maligumu wrote:
the deal wrote:
Aguytrying wrote:
Aguytrying wrote:
After months of planning, i have finally put my money where my mouth is and taken the plunge on HFCK (with both feet) today. Im very excited i am finally in.

Karibu Diamond, karibu 0.25 member


Looks like i entered alongside the big boys

You have made the right decison I have a TP of Ksh20 on the stock!


Welcome some of us are already seated, hope you will get a permanent seat in the diamond .


Many of you were on the sidelines. Karibu


@aguy karibu, we are ready to go


asanteni wakubwa

It feels good to here from you guys am also in this thing.
The God of the day is still God in the night.
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  | | Edit by user: Sunday, September 30, 2012 9:53 PM | Reason: grammer
youcan'tstopusnow
#244 Posted : Sunday, September 30, 2012 9:58:57 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Housing Finance sets
aside Sh1.4bn to build
own units
http://www.businessdaily...2/-/59736w/-/index.html
GOD BLESS YOUR LIFE
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mwekez@ji
#245 Posted : Monday, October 01, 2012 10:09:02 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
youcan'tstopusnow wrote:
Housing Finance sets
aside Sh1.4bn to build
own units
http://www.businessdailyafrica....12/-/59736w/-/index.html


#one stop mortgage shop #to profit from the margin accruing from the different steps in the housing supply chain
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mwekez@ji
#246 Posted : Monday, October 01, 2012 10:11:28 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Genghis Capital has a BUY recomendation of HFCK with a 12 months target price of KES 27 *Diamond* *Diamond* *Diamond*
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ProverB
#247 Posted : Monday, October 01, 2012 10:28:15 AM
Rank: Veteran

Joined: 3/12/2010
Posts: 1,199
Location: Eastlander
mwekez@ji wrote:
Genghis Capital has a BUY recomendation of HFCK with a 12 months target price of KES 27 *Diamond* *Diamond* *Diamond*


All other factors remaining constant.
Pleas note..over past 52 weeks HFCK has been one of worst performers in market despite healthy fundamentals.. KES 27 is only possible of investors believe so and act on it.

One reason it will go up is a dividend yield higher than 6%...But again..the higher the price edges..the lower the yield...meaning long before the KES27 price range...income investors..and those averse to risk..will drop it from "to buy" list...as well as those who boarded earlier probably alighting..

Is it a value stock? Probably..is it a momentum stock? definitely..just spark greed in retailers and it will soar..to be slaughtered later..but in this market...income stocks seem to be safer options...with Dividend yield > 8%

* A share u hold is only worth in price what another person is willing to pay for it...regardless of their intellect or understanding of the fundamentals. *
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
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  | | Edit by user: Monday, October 01, 2012 10:37 AM | Reason: Not specified
sparkly
#248 Posted : Monday, October 01, 2012 10:41:11 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Main worry is the mismatch between the terms of the assets and the liabilities.

In 2011 the assets, including mortgages due within 5 years was 10B while assets due after 5 years were 20B. The liabilities payable within 5 years on the other hand were 17B and liabilities payable after 5 years were 10B. There would be a liquidity crisis if the big depositors decided to the call on their funds. The company must also adjust mortgage rates if there is an adverse movement in short term interest rates.

Thankfully this is being addressed by the MTN on offer.

The other issue is the loss of market share, though this is offset by expansion of market size.
Life is short. Live passionately.
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guru267
#249 Posted : Friday, October 05, 2012 8:47:40 AM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
This thing looks more like a diamond each day! i might just decide to take the plunge below 15bob..

www.businessdailyafrica....6/-/k91f3pz/-/index.html
Mark 12:29
Deuteronomy 4:16
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  | | Edit by user: Friday, October 05, 2012 8:50 AM | Reason: Not specified
StatMeister
#250 Posted : Friday, October 05, 2012 9:12:43 AM
Rank: Veteran

Joined: 5/23/2010
Posts: 868
Location: La Islas Galápagos
sparkly wrote:
Main worry is the mismatch between the terms of the assets and the liabilities.

In 2011 the assets, including mortgages due within 5 years was 10B while assets due after 5 years were 20B. The liabilities payable within 5 years on the other hand were 17B and liabilities payable after 5 years were 10B. There would be a liquidity crisis if the big depositors decided to the call on their funds. The company must also adjust mortgage rates if there is an adverse movement in short term interest rates.

Thankfully this is being addressed by the MTN on offer.

The other issue is the loss of market share, though this is offset by expansion of market size.


With interest rates easing, and with Kenyans now more aware of the interest rate games, expect some re-alignment in the liability books (of all banks)
A bad day fishing is better than a good day at work
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