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Mhasibu Properties Ltd
Rank: Elder Joined: 3/29/2011 Posts: 2,242
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Anyone with details on the purpose ( Office Use, Redevelopment etc) of the investment in the link below? http://mhasibusacco.com/...operty-at-kirichwa-road
The property was quite pricey ( Asking Price 120 M) and they may have good plans for the cash. http://www.ryden.co.ke/p...evelopment-plot/152.html"Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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Any Mhasibu Member in the house with info? "Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: Member Joined: 7/17/2008 Posts: 152
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They want to demolish the existing structures and put up a high rise commercial building which shall also be the headquarters for Mhasibu group.
They will also be asking members to contribute and buy shares in the company or floors in the building.
There shall be a special general meeting on 27th July 2013 to discuss the same in details and amend the by-laws to accommodate the new venture.
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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luxel wrote:They want to demolish the existing structures and put up a high rise commercial building which shall also be the headquarters for Mhasibu group.
They will also be asking members to contribute and buy shares in the company or floors in the building.
There shall be a special general meeting on 27th July 2013 to discuss the same in details and amend the by-laws to accommodate the new venture. @luxel, thanks for the info. Great move by the Sacco. "Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: Member Joined: 10/19/2009 Posts: 671 Location: Nairobi
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and it was sold already? that page on Mhasibu website can load anymore.
Life is joy, death is peace, but the transition is very difficult.
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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webish wrote:and it was sold already? that page on Mhasibu website can load anymore. Any member with info on how this project went? There are no details in their website "Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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After the initial blitz: https://www.businessdail...34020-qo082d/index.html
Seems like the project died a natural death and nothing ever became of it. Whenever a website goes dead or the project disappears from therein you know things are elephant as far as the project is concerned.
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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MugundaMan wrote:After the initial blitz: https://www.businessdail...34020-qo082d/index.html
Seems like the project died a natural death and nothing ever became of it. Whenever a website goes dead or the project disappears from therein you know things are elephant as far as the project is concerned. True. I just learnt there will be a special AGM this coming Saturday to deliberate on the project. Looks like it backfired big time and exposed the company to litigation and likely to be huge losses. "Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: Member Joined: 10/14/2011 Posts: 661
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Gathige wrote:MugundaMan wrote:After the initial blitz: https://www.businessdail...34020-qo082d/index.html
Seems like the project died a natural death and nothing ever became of it. Whenever a website goes dead or the project disappears from therein you know things are elephant as far as the project is concerned. True. I just learnt there will be a special AGM this coming Saturday to deliberate on the project. Looks like it backfired big time and exposed the company to litigation and likely to be huge losses. The project backfired and there is 5.8M income expectation from MPL which is uncertain (see Page 21 of audited accounts) https://drive.google.com...k7L7T0nO8EGcT7FS0L/view
A forensic audit was ordered to look into this matter during the last AGM, http://mhasibusacco.com/...of-forensic-auditor-tor -they present there findings and way forward on Saturday
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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Thiong'o wrote:Gathige wrote:MugundaMan wrote:After the initial blitz: https://www.businessdail...34020-qo082d/index.html
Seems like the project died a natural death and nothing ever became of it. Whenever a website goes dead or the project disappears from therein you know things are elephant as far as the project is concerned. True. I just learnt there will be a special AGM this coming Saturday to deliberate on the project. Looks like it backfired big time and exposed the company to litigation and likely to be huge losses. The project backfired and there is 5.8M income expectation from MPL which is uncertain (see Page 21 of audited accounts) https://drive.google.com...k7L7T0nO8EGcT7FS0L/view
A forensic audit was ordered to look into this matter during the last AGM, http://mhasibusacco.com/...of-forensic-auditor-tor -they present there findings and way forward on Saturday @Thiongo, thanks for the insight. Just in case you will attend the SGM, update on the deliberations re the project. Thought it was a good idea given the location and its strange it backfired, maybe the directors got crooked "Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: Member Joined: 10/14/2011 Posts: 661
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Gathige wrote:Thiong'o wrote:Gathige wrote:MugundaMan wrote:After the initial blitz: https://www.businessdail...34020-qo082d/index.html
Seems like the project died a natural death and nothing ever became of it. Whenever a website goes dead or the project disappears from therein you know things are elephant as far as the project is concerned. True. I just learnt there will be a special AGM this coming Saturday to deliberate on the project. Looks like it backfired big time and exposed the company to litigation and likely to be huge losses. The project backfired and there is 5.8M income expectation from MPL which is uncertain (see Page 21 of audited accounts) https://drive.google.com...k7L7T0nO8EGcT7FS0L/view
A forensic audit was ordered to look into this matter during the last AGM, http://mhasibusacco.com/...of-forensic-auditor-tor -they present there findings and way forward on Saturday @Thiongo, thanks for the insight. Just in case you will attend the SGM, update on the deliberations re the project. Thought it was a good idea given the location and its strange it backfired, maybe the directors got crooked This report gives a clearer picture of the investments in MPL http://mhasibusacco.com/...counts_Mhasibu_Sacco.pdf
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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Thiong'o wrote:Gathige wrote:Thiong'o wrote:Gathige wrote:[quote=MugundaMan]After the initial blitz: https://www.businessdail...34020-qo082d/index.html
Seems like the project died a natural death and nothing ever became of it. Whenever a website goes dead or the project disappears from therein you know things are elephant as far as the project is concerned. True. I just learnt there will be a special AGM this coming Saturday to deliberate on the project. Looks like it backfired big time and exposed the company to litigation and likely to be huge losses. The project backfired and there is 5.8M income expectation from MPL which is uncertain (see Page 21 of audited accounts) https://drive.google.com...k7L7T0nO8EGcT7FS0L/view
A forensic audit was ordered to look into this matter during the last AGM, http://mhasibusacco.com/...of-forensic-auditor-tor -they present there findings and way forward on Saturday @Thiongo, thanks for the insight. Just in case you will attend the SGM, update on the deliberations re the project. Thought it was a good idea given the location and its strange it backfired, maybe the directors got crooked This report gives a clearer picture of the investments in MPL http://mhasibusacco.com/...ounts_Mhasibu_Sacco.pdf[/quote] Thanks@Thiongo. How did the SGM go? "Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: Member Joined: 10/14/2011 Posts: 661
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Gathige wrote:Thiong'o wrote:Gathige wrote:Thiong'o wrote:Gathige wrote:[quote=MugundaMan]After the initial blitz: https://www.businessdail...34020-qo082d/index.html
Seems like the project died a natural death and nothing ever became of it. Whenever a website goes dead or the project disappears from therein you know things are elephant as far as the project is concerned. True. I just learnt there will be a special AGM this coming Saturday to deliberate on the project. Looks like it backfired big time and exposed the company to litigation and likely to be huge losses. The project backfired and there is 5.8M income expectation from MPL which is uncertain (see Page 21 of audited accounts) https://drive.google.com...k7L7T0nO8EGcT7FS0L/view
A forensic audit was ordered to look into this matter during the last AGM, http://mhasibusacco.com/...of-forensic-auditor-tor -they present there findings and way forward on Saturday @Thiongo, thanks for the insight. Just in case you will attend the SGM, update on the deliberations re the project. Thought it was a good idea given the location and its strange it backfired, maybe the directors got crooked This report gives a clearer picture of the investments in MPL http://mhasibusacco.com/...ounts_Mhasibu_Sacco.pdf[/quote] Thanks@Thiongo. How did the SGM go? Discussion on the report was almost derailed, politics seems to permeate on all our spheres. It was resolved to sell the property to pay debtors and no further advances from the sacco.
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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Thiong'o wrote:Gathige wrote:Thiong'o wrote:Gathige wrote:Thiong'o wrote:Gathige wrote:[quote=MugundaMan]After the initial blitz: https://www.businessdail...34020-qo082d/index.html
Seems like the project died a natural death and nothing ever became of it. Whenever a website goes dead or the project disappears from therein you know things are elephant as far as the project is concerned. True. I just learnt there will be a special AGM this coming Saturday to deliberate on the project. Looks like it backfired big time and exposed the company to litigation and likely to be huge losses. The project backfired and there is 5.8M income expectation from MPL which is uncertain (see Page 21 of audited accounts) https://drive.google.com...k7L7T0nO8EGcT7FS0L/view
A forensic audit was ordered to look into this matter during the last AGM, http://mhasibusacco.com/...of-forensic-auditor-tor -they present there findings and way forward on Saturday @Thiongo, thanks for the insight. Just in case you will attend the SGM, update on the deliberations re the project. Thought it was a good idea given the location and its strange it backfired, maybe the directors got crooked This report gives a clearer picture of the investments in MPL http://mhasibusacco.com/...ounts_Mhasibu_Sacco.pdf[/quote] Thanks@Thiongo. How did the SGM go? Discussion on the report was almost derailed, politics seems to permeate on all our spheres. It was resolved to sell the property to pay debtors and no further advances from the sacco. Thanks @Thiongo. Its sad the project has aborted. Governance is critical and lets hope the SACCO has learnt the lessons. The real estate wing had been dodged with issues that may soil the SACCOs good name If you have the main report, please share "Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: Member Joined: 10/14/2011 Posts: 661
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Gathige wrote:Thiong'o wrote:Gathige wrote:Thiong'o wrote:Gathige wrote:Thiong'o wrote:Gathige wrote:[quote=MugundaMan]After the initial blitz: https://www.businessdail...34020-qo082d/index.html
Seems like the project died a natural death and nothing ever became of it. Whenever a website goes dead or the project disappears from therein you know things are elephant as far as the project is concerned. True. I just learnt there will be a special AGM this coming Saturday to deliberate on the project. Looks like it backfired big time and exposed the company to litigation and likely to be huge losses. The project backfired and there is 5.8M income expectation from MPL which is uncertain (see Page 21 of audited accounts) https://drive.google.com...k7L7T0nO8EGcT7FS0L/view
A forensic audit was ordered to look into this matter during the last AGM, http://mhasibusacco.com/...of-forensic-auditor-tor -they present there findings and way forward on Saturday @Thiongo, thanks for the insight. Just in case you will attend the SGM, update on the deliberations re the project. Thought it was a good idea given the location and its strange it backfired, maybe the directors got crooked This report gives a clearer picture of the investments in MPL http://mhasibusacco.com/...ounts_Mhasibu_Sacco.pdf[/quote] Thanks@Thiongo. How did the SGM go? Discussion on the report was almost derailed, politics seems to permeate on all our spheres. It was resolved to sell the property to pay debtors and no further advances from the sacco. Thanks @Thiongo. Its sad the project has aborted. Governance is critical and lets hope the SACCO has learnt the lessons. The real estate wing had been dodged with issues that may soil the SACCOs good name If you have the main report, please share This is the summary of the discussions. https://www.businessdail...8634-yxtxkcz/index.html
The author of this article should have been at the meeting.
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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Thiong'o wrote:Gathige wrote:Thiong'o wrote:Gathige wrote:Thiong'o wrote:Gathige wrote:Thiong'o wrote:Gathige wrote:[quote=MugundaMan]After the initial blitz: https://www.businessdail...34020-qo082d/index.html
Seems like the project died a natural death and nothing ever became of it. Whenever a website goes dead or the project disappears from therein you know things are elephant as far as the project is concerned. True. I just learnt there will be a special AGM this coming Saturday to deliberate on the project. Looks like it backfired big time and exposed the company to litigation and likely to be huge losses. The project backfired and there is 5.8M income expectation from MPL which is uncertain (see Page 21 of audited accounts) https://drive.google.com...k7L7T0nO8EGcT7FS0L/view
A forensic audit was ordered to look into this matter during the last AGM, http://mhasibusacco.com/...of-forensic-auditor-tor -they present there findings and way forward on Saturday @Thiongo, thanks for the insight. Just in case you will attend the SGM, update on the deliberations re the project. Thought it was a good idea given the location and its strange it backfired, maybe the directors got crooked This report gives a clearer picture of the investments in MPL http://mhasibusacco.com/...ounts_Mhasibu_Sacco.pdf[/quote] Thanks@Thiongo. How did the SGM go? Discussion on the report was almost derailed, politics seems to permeate on all our spheres. It was resolved to sell the property to pay debtors and no further advances from the sacco. Thanks @Thiongo. Its sad the project has aborted. Governance is critical and lets hope the SACCO has learnt the lessons. The real estate wing had been dodged with issues that may soil the SACCOs good name If you have the main report, please share This is the summary of the discussions. https://www.businessdail...8634-yxtxkcz/index.html
The author of this article should have been at the meeting. Thanks @ Thiongo. Corporate Governance seems to have been very poor at MPL. Looks like instead of the board providing oversight, they were indeed complacent. Hopefully, the matter can be resolved and the project resumed as it has potential and goodwill from the SACCO membership. "Things that matter most must never be at the mercy of things that matter least." Goethe
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