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Olympia Capital FY2012-13 PBT drops a massive 74%
Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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I will not even act surprised.  Coz that would be a mortal lie. The one that the bible thumpers say gets one an express ticket to hell. And that's where matu & his ilk will be waiting. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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@Guru267 lied to novice investors for long enough, now they are trapped between a rock and a matu place. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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dunkang wrote:@Guru267 lied to novice investors for long enough, now they are trapped between a rock and a matu place. @dunkang we aint buying and selling fish here so by the time someone can fool you into buying a stock you know its time to join a unit trust/mutual fund!! Meanwhile I'm back in Olympia at anywhere between 2.5-3.5bob  Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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What does this company do, the last time i heard anything was when they were building stadiums in SA worldcup "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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murchr wrote:What does this company do, the last time i heard anything was when they were building stadiums in SA worldcup During their down south venture, walichomeka kweli kweli. This fellows sell those old technology plastic tiles (who uses those PVC tiles nowadays) and super glue (those used for tyre tubes repair-dunlop). This and paka are the most useless bizna you can invest in at the NSE. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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dunkang wrote:murchr wrote:What does this company do, the last time i heard anything was when they were building stadiums in SA worldcup During their down south venture, walichomeka kweli kweli. This fellows sell those old technology plastic tiles (who uses those PVC tiles nowadays) and super glue (those used for tyre tubes repair-dunlop). This and paka are the most useless bizna you can invest in at the NSE. SMH "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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When the shit hits the fan, you get shredded Olympia certificates! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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guru267 wrote:... I'm back in Olympia at anywhere between 2.5-3.5bob buying price range that is 40% apart??? ... P/E range 16-23 in such a crap company???
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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mwekez@ji wrote:guru267 wrote:... I'm back in Olympia at anywhere between 2.5-3.5bob buying price range that is 40% apart??? ... P/E range 16-23 in such a crap company??? Mboss there is no stress here! Its always about getting in at the right price... And for Olympia its below 3bob just like paka below 2bob! NAV still remains at 26bob so if they were to give up and and liquidate the company investors would a serious serious killing! Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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Olympia has stakes in: Dunlop Kenya Limited: vinyl floor tiles and vinyl sheeting; Mather+Platt: Fire extinguishers. Olympia Capital Corp: The holding subsidiary for businesses in southern Africa. Kalahari Floor Tiles: vinyl floor tiles and vinyl sheeting in Botswana. Yokota SA: Deals with curtains in S.A. www.yokotasa.comNatural Wooden Products (NatWood): Wood products in S.A. http://natwood.ecurb.co.za/page/about_natwood.htm This firm and paka are both at the mercy of the chinese products importers. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Member Joined: 4/14/2010 Posts: 806 Location: Nairobi
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I thought most of that NAV is on property which is prone to valuation mischief. But I agree with Guru - it would be a nice speculative play at sub 3/=.
Just thinking that if somebody wanted to enter the NSE Via backdoor they could do those takeovers ala city-trust and I&M on Olympia.
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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guru267 wrote:mwekez@ji wrote:guru267 wrote:... I'm back in Olympia at anywhere between 2.5-3.5bob buying price range that is 40% apart??? ... P/E range 16-23 in such a crap company??? Mboss there is no stress here! Its always about getting in at the right price... And for Olympia its below 3bob just like paka below 2bob! NAV still remains at 26bob so if they were to give up and and liquidate the company investors would a serious serious killing! Mboss, Note to deduct non-controlling interest and goodwill when deducing your NAV. Also note property were last year revalued upwards by 85% (from KES 348M to KES 643M) and incase of liquidation it’s the Forced Sale Value that would be important and not these said Open Market Values. That said, i concur the company is trading below its NAV which is good for you incase the company dies. Before death of the company, wallow in misery incomes
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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mwekez@ji wrote:Note to deduct non-controlling interest and goodwill when deducing your NAV. Also note property were last year revalued upwards by 85% (from KES 348M to KES 643M) and incase of liquidation it’s the Forced Sale Value that would be important and not these said Open Market Values. That said, i concur the company is trading below its NAV which is good for you incase the company dies. Before death of the company, wallow in misery incomes @Mwekez@ji the best investors in this world are always objective! Its the only way you will see through the noise.. I hear you about good will, property revaluations, FSV and NCI!!But when we strip out all of these from the balance sheet we still have a NAV per share of 10.25bob... If I get in at 4.15bob today that is still a 150% return in case of liquidation tomorrow! Mark 12:29
Deuteronomy 4:16
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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guru267 wrote:mwekez@ji wrote:Note to deduct non-controlling interest and goodwill when deducing your NAV. Also note property were last year revalued upwards by 85% (from KES 348M to KES 643M) and incase of liquidation it’s the Forced Sale Value that would be important and not these said Open Market Values. That said, i concur the company is trading below its NAV which is good for you incase the company dies. Before death of the company, wallow in misery incomes @Mwekez@ji the best investors in this world are always objective! Its the only way you will see through the noise.. I hear you about good will, property revaluations, FSV and NCI!!But when we strip out all of these from the balance sheet we still have a NAV per share of 10.25bob... If I get in at 4.15bob today that is still a 150% return in case of liquidation tomorrow! We now tally on the NAV figure and agree on the perspective. May the price slide to the <3
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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guru267 wrote:mwekez@ji wrote:guru267 wrote:... I'm back in Olympia at anywhere between 2.5-3.5bob buying price range that is 40% apart??? ... P/E range 16-23 in such a crap company??? Mboss there is no stress here! Its always about getting in at the right price... And for Olympia its below 3bob just like paka below 2bob! NAV still remains at 26bob so if they were to give up and and liquidate the company investors would a serious serious killing! Please walk me through the mathematics of NAV of 26/share. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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VituVingiSana wrote:guru267 wrote:mwekez@ji wrote:guru267 wrote:... I'm back in Olympia at anywhere between 2.5-3.5bob buying price range that is 40% apart??? ... P/E range 16-23 in such a crap company??? Mboss there is no stress here! Its always about getting in at the right price... And for Olympia its below 3bob just like paka below 2bob! NAV still remains at 26bob so if they were to give up and and liquidate the company investors would a serious serious killing! Please walk me through the mathematics of NAV of 26/share. @VVS Basically shareholder funds of 1,074,362,000 divided by 40 million shares.. You get 26.85bob! but if you strip down Goodwill, Revaluations, NCI and consider FSV then the NAV per share falls to about 10bob Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 10/13/2009 Posts: 1,950 Location: in kenya
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VituVingiSana wrote:guru267 wrote:mwekez@ji wrote:guru267 wrote:... I'm back in Olympia at anywhere between 2.5-3.5bob buying price range that is 40% apart??? ... P/E range 16-23 in such a crap company??? Mboss there is no stress here! Its always about getting in at the right price... And for Olympia its below 3bob just like paka below 2bob! NAV still remains at 26bob so if they were to give up and and liquidate the company investors would a serious serious killing! Please walk me through the mathematics of NAV of 26/share. @Guru267 Using NAV in this company is a risky move look at the two items in assets. 1.Amount due from related parties =369M 2.Trade and other Receivables =379M These amounts make up about 40% of total assets.when you factor in the exaggerations in PPE. NAV would be a risky way to value this company. '......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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selah wrote:VituVingiSana wrote:guru267 wrote:mwekez@ji wrote:guru267 wrote:... I'm back in Olympia at anywhere between 2.5-3.5bob buying price range that is 40% apart??? ... P/E range 16-23 in such a crap company??? Mboss there is no stress here! Its always about getting in at the right price... And for Olympia its below 3bob just like paka below 2bob! NAV still remains at 26bob so if they were to give up and and liquidate the company investors would a serious serious killing! Please walk me through the mathematics of NAV of 26/share. @Guru267 Using NAV in this company is a risky move look at the two items in assets. 1.Amount due from related parties =369M 2.Trade and other Receivables =379M These amounts make up about 40% of total assets.when you factor in the exaggerations in PPE. NAV would be a risky way to value this company. I have already factored in what you are calling "exegerrated" property values but what shows that those receivables should be in doubt because they also have more due to related parties?? Yes its always risky to use NAV on its own but not when the price is at 3bob and below! Mark 12:29
Deuteronomy 4:16
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Olympia Capital FY2012-13 PBT drops a massive 74%
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