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CMC MOTORS Boardroom Wars
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dunkang
#301 Posted : Wednesday, March 20, 2013 10:08:29 AM
Rank: Elder


Joined: 6/2/2011
Posts: 4,818
Location: -1.2107, 36.8831
FUNKY wrote:
Wondering who or what can save the company from collapsing now!

CHINA
They should start selling chinese cars and spares. The other day Marshalls started selling FOTON and KIA, after Peugeot started stupidity!
Receive with simplicity everything that happens to you.” ― Rashi

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mukiha
#302 Posted : Wednesday, March 20, 2013 11:34:51 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
What percentage was Land Rover contributing to the top line?
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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mukiha
#303 Posted : Wednesday, March 20, 2013 11:41:23 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
I don't know why they filed the case in the first place. Karume was also there versus EABL and he lost!

As a layman, I could have told them to stop wasting time and money, and giving shareholders and employees false hopes with a case that, in my view had absolutely no merit!

The hope for this company now lies in shaving off middle line items heavily so as to retain a health bottom line.

After all, running the LR franchise must have been a costly, albeit profitable, exercise. If they had not bothered suing, by now the'd have made cut-back plans as a consequence of franchise loss.... redundancies, re-direction of capital etc.
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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mwekez@ji
#304 Posted : Tuesday, April 02, 2013 11:03:23 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
Extension of suspension - CMA has extended trading suspension of CMC Holdings Ltd shares for a further period of 53 trading days from 30 March 2013 - to 14 June 2013 (both days inclusive) #MamboBado
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mwekez@ji
#305 Posted : Tuesday, April 02, 2013 11:07:33 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
CMC in fresh court bid to stop Jaguar Land Rover

http://www.businessdailyafrica....2/-/13bkynh/-/index.html
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mukiha
#306 Posted : Tuesday, April 02, 2013 3:19:43 PM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
mwekez@ji wrote:
CMC in fresh court bid to stop Jaguar Land Rover

http://www.businessdailyafrica....2/-/13bkynh/-/index.html


When will they ever realise that this thing is gone?

Time to consolidate their business and ensure that they don't lose another franchise.

BTW; does anyone know what percentage JLR was contributing to CMC's revenue?
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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FUNKY
#307 Posted : Thursday, May 30, 2013 12:18:20 AM
Rank: Veteran


Joined: 4/30/2010
Posts: 1,635
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mukiha
#308 Posted : Thursday, May 30, 2013 9:35:26 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
FUNKY wrote:
http://www.businessdailyafrica.com/Corporate-News/CMC-profit-drops-by-62-per-cent-/-/539550/1866404/-/1069m2ez/-/index.html


Negative news sells better...

When results came out last year, BD was quick to note that the good performance was due to foreign exchange gains.

Given that this is not a bank but vehicle dealer, fx gains must be ignored when looking at its performance...

Thus the PBT for h1 2013 was 132m [92m in 2012]

And the PBT for FY 2012 was -4m.... a LOSS!!!!

Conclusion: the company is recovery path.

BTW: shouldn't they just confirm the acting GCEO. No need to look for some flamboyant fellow who will just draw attention to himself!
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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mukiha
#309 Posted : Tuesday, June 04, 2013 12:18:09 PM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
mukiha wrote:
What percentage was Land Rover contributing to the top line?


Asked and answered by self.....just seen the 2012 annual report; it state that JLR accounted for 23% of sales in 2011/12.

Chairman says: "...we have reviewed the existing franchises and business that the group has and based on our business plan and projections...., we have every confidence that the group will continue to trade profitably.... The group continues to focus on increasing the market share of each franchise..."

But the auditor's commentary is ominous: "The above matters indicate the existence of material uncertainty that may cast significant doubt about the groups ability to continue as a going concern, and therefore, may be unable to realise its assets and discharge its liabilities in the normal course of business."

In English, I read that to mean CMC is tittering on the verge of insolvency!

Dear God!
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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hisah
#310 Posted : Tuesday, June 04, 2013 2:01:23 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
mukiha wrote:
mukiha wrote:
What percentage was Land Rover contributing to the top line?


Asked and answered by self.....just seen the 2012 annual report; it state that JLR accounted for 23% of sales in 2011/12.

Chairman says: "...we have reviewed the existing franchises and business that the group has and based on our business plan and projections...., we have every confidence that the group will continue to trade profitably.... The group continues to focus on increasing the market share of each franchise..."

But the auditor's commentary is ominous: "The above matters indicate the existence of material uncertainty that may cast significant doubt about the groups ability to continue as a going concern, and therefore, may be unable to realise its assets and discharge its liabilities in the normal course of business."

In English, I read that to mean CMC is tittering on the verge of insolvency!

Dear God!

Serious enterprise corruption cases end up in bankruptcy.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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FUNKY
#311 Posted : Wednesday, June 05, 2013 10:37:25 PM
Rank: Veteran


Joined: 4/30/2010
Posts: 1,635
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Siringi
#312 Posted : Monday, September 09, 2013 8:17:22 AM
Rank: Elder


Joined: 6/8/2013
Posts: 2,517
Going Accesskenya Way?

Aly-Khan Satchu‏@alykhansatchu43m
Al-Futtaim intention to make a cash offer for 100% CMC Holdings 13/- a share http://www.ft.com/intl/c...-83b9-00144feab7de.html … [susp Sep 2011] http://www.rich.co.ke/rc.../company.php?i=Ng%3D%3D …



mimi badu kuyua kuweka hiyi rinki ya twirra

"😖😡KQ makes money for everyone except the shareholder 😏😏 " overheard in Wazua
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Siringi
#313 Posted : Monday, September 09, 2013 8:23:32 AM
Rank: Elder


Joined: 6/8/2013
Posts: 2,517

Siringi wrote:
Going Accesskenya Way?

Aly-Khan Satchu‏@alykhansatchu43m
Al-Futtaim intention to make a cash offer for 100% CMC Holdings 13/- a share http://www.ft.com/intl/c...-83b9-00144feab7de.html … [susp Sep 2011] http://www.rich.co.ke/rc.../company.php?i=Ng%3D%3D …



mimi badu kuyua kuweka hiyi rinki ya twirra


"😖😡KQ makes money for everyone except the shareholder 😏😏 " overheard in Wazua
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Museveni
#314 Posted : Monday, September 09, 2013 10:20:56 AM
Rank: Member


Joined: 8/16/2012
Posts: 660
Siringi wrote:
Going Accesskenya Way?

Aly-Khan Satchu‏@alykhansatchu43m
Al-Futtaim intention to make a cash offer for 100% CMC Holdings 13/- a share http://www.ft.com/intl/c...-83b9-00144feab7de.html … [susp Sep 2011] http://www.rich.co.ke/rc.../company.php?i=Ng%3D%3D …


mimi badu kuyua kuweka hiyi rinki ya twirra





FT Link:

@Siringi

twitter embedding similar to picha tu. inplace of img use tweet..and use last digits (the Tweet ID) as the link
Live and learn; and don’t forget, nothing ventured, nothing gained.
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Lolest!
#315 Posted : Monday, September 09, 2013 11:14:14 AM
Rank: Elder


Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
Siringi wrote:
Going Accesskenya Way?

Aly-Khan Satchu‏@alykhansatchu43m
Al-Futtaim intention to make a cash offer for 100% CMC Holdings 13/- a share http://www.ft.com/intl/c...-83b9-00144feab7de.html … [susp Sep 2011] http://www.rich.co.ke/rc.../company.php?i=Ng%3D%3D …



mimi badu kuyua kuweka hiyi rinki ya twirra


will gladly give them kila kitu. It's better than losing everything.
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
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Siringi
#316 Posted : Monday, September 09, 2013 12:34:07 PM
Rank: Elder


Joined: 6/8/2013
Posts: 2,517
Ile mapesa malikuwa kwa account huko Jersey Island kuliendaye?

Wasee walikuka vivyo hivyo kukakimya... Isokei Isorait accept and move onSad Sad Sad

Museveni wrote:
Siringi wrote:
Going Accesskenya Way?

Aly-Khan Satchu‏@alykhansatchu43m
Al-Futtaim intention to make a cash offer for 100% CMC Holdings 13/- a share http://www.ft.com/intl/c...-83b9-00144feab7de.html … [susp Sep 2011] http://www.rich.co.ke/rc.../company.php?i=Ng%3D%3D …



mimi badu kuyua kuweka hiyi rinki ya twirra





FT Link:

@Siringi

twitter embedding similar to picha tu. inplace of img use tweet..and use last digits (the Tweet ID) as the link

"😖😡KQ makes money for everyone except the shareholder 😏😏 " overheard in Wazua
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luxel
#317 Posted : Monday, September 09, 2013 5:04:53 PM
Rank: Member


Joined: 7/17/2008
Posts: 152
Peter Muthoka might be the winner in all this saga, he shall pocket his shares proceed and continue clearing (andy forwarder) for the new owners of CMC.
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josimar
#318 Posted : Monday, September 09, 2013 5:52:56 PM
Rank: Member


Joined: 7/6/2010
Posts: 242
Quote:
Peter Muthoka might be the winner in all this saga, he shall pocket his shares proceed and continue clearing (andy forwarder) for the new owners of CMC.


Take time to visit Al - Futtaim website , they have their own logistics arm, secondly they are in motor vehicle franchise business in Egypt as well.For You to succeed in such arrangements, You must have finance,have a good logistics provide plus a strong marketing and aftersales strategy.
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King G
#319 Posted : Monday, September 09, 2013 6:22:01 PM
Rank: Elder


Joined: 6/20/2012
Posts: 3,855
Location: Othumo
josimar wrote:
Quote:
Peter Muthoka might be the winner in all this saga, he shall pocket his shares proceed and continue clearing (andy forwarder) for the new owners of CMC.


Take time to visit Al - Futtaim website , they have their own logistics arm, secondly they are in motor vehicle franchise business in Egypt as well.For You to succeed in such arrangements, You must have finance,have a good logistics provide plus a strong marketing and aftersales strategy.


Either way Muthoka will be the winner as wanjiku gets fried AGAIN!!!
Thieves
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Murenju
#320 Posted : Tuesday, September 10, 2013 9:45:47 AM
Rank: Member


Joined: 7/13/2006
Posts: 94
Location: Nairobi
Wanjiku may not let go easy. I see cases being lodged in the courts on the funds hidden in Jersey. That will be one hurdle that must be crossed.
Knock hard and it will be opened. Ask and you will be answered. Seek and you shall find.
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