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EA Portland Cement Company - Going, Going, Gone?
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VituVingiSana
#1 Posted : Wednesday, December 18, 2013 2:00:57 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,121
Location: Nairobi
Very interesting.

http://www.nation.co.ke/busines...4/-/jm0t1ez/-/index.html

GoK [Jubilee] may sell EAPCC to Dangote for a song.
No dividend approved.
GoK wants majority control [directors] of the firm.

In the meantime, ARM is planning a 8,000 ton factory in Kitui. Bamburi is expanding in Uganda. Other competitors are out in force eg Simba, Nyumba, etc [aka National, Mombasa]...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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murchr
#2 Posted : Wednesday, December 18, 2013 4:25:07 AM
Rank: Elder


Joined: 2/26/2012
Posts: 15,980
Interesting, what is the auditor saying? http://www.businessdailyafrica....1/-/jsxi46z/-/index.html
"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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xxxxx
#3 Posted : Wednesday, December 18, 2013 8:41:22 AM
Rank: Member


Joined: 3/20/2008
Posts: 503
murchr wrote:
Interesting, what is the auditor saying? http://www.businessdailyafrica....1/-/jsxi46z/-/index.html


The auditor already gave a clean bill of health
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Aguytrying
#4 Posted : Wednesday, December 18, 2013 11:23:22 AM
Rank: Elder


Joined: 7/11/2010
Posts: 5,040
Dear wazuans,

whenever I want to invest in a gava firm I need one of you to talk me down.

thanks
The investor's chief problem - and even his worst enemy - is likely to be himself
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Candlesticks
#5 Posted : Wednesday, December 18, 2013 12:50:06 PM
Rank: New-farer


Joined: 12/16/2013
Posts: 49
Location: Nairobi
This is more than a storm. Where is the Authority??

http://www.nation.co.ke/busines...4/-/jm0t1ez/-/index.html
"'Nowadays people know the price of everything and the value of nothing.' - Oscar Wilde.
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muganda
#6 Posted : Wednesday, December 18, 2013 12:56:07 PM
Rank: Elder


Joined: 9/15/2006
Posts: 3,905
And the fixer Mr. Bill Lay to the rescue. He fixed CMC and its doubtful directors, now EAPC.

On the bright side, may result in another company takeover...
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dunkang
#7 Posted : Wednesday, December 18, 2013 12:58:07 PM
Rank: Elder


Joined: 6/2/2011
Posts: 4,818
Location: -1.2107, 36.8831
Candlesticks wrote:
This is more than a storm. Where is the Authority??

http://www.nation.co.ke/busines...4/-/jm0t1ez/-/index.html

Quote:
The trouble, according to those who attended the meeting, started when the Portland board chairman Mr Mark ole Karbolo opened the meeting by directing that the board will only take three questions from the shareholders, triggering agitation.

Industrialisation PS Dr Wilson Songa and NSSF representative Gideon Chengo then moved to question why the company was paying dividend when the firm’s cash position was Sh450 million in the negative.

“The stocks of the firm have been overstated by Sh2.1 billion, and the Sh3.4 billion in debts owed by the company is close to Sh3.6 billion in current asset which makes the firm literally insolvent,” noted Dr Songa.

In the annual report circulated to shareholders, the cement producer reported Sh1.77 billion as after tax profits for the period to June 2013.

However, Mr Songa maintained that the firm is “in the red” to the tune of Sh500 million, with actual operating profits being Sh340 million and the rest, almost Sh1.2 billion, being “mere adjustments in the books”.
Receive with simplicity everything that happens to you.” ― Rashi

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VituVingiSana
#8 Posted : Wednesday, December 18, 2013 2:11:14 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,121
Location: Nairobi
Aguytrying wrote:
Dear wazuans,

whenever I want to invest in a gava firm I need one of you to talk me down.

thanks

KPLC [conned folks with a Rights Issue which claimed ERC would give them a Rate Hike. Wapi?]
KenGen: See KPLC
KQ: Well, sort of a mixed bag
NBK: In-fighting between GoK & NSSF
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Aguytrying
#9 Posted : Wednesday, December 18, 2013 9:45:32 PM
Rank: Elder


Joined: 7/11/2010
Posts: 5,040
VituVingiSana wrote:
Aguytrying wrote:
Dear wazuans,

whenever I want to invest in a gava firm I need one of you to talk me down.

thanks

KPLC [conned folks with a Rights Issue which claimed ERC would give them a Rate Hike. Wapi?]
KenGen: See KPLC
KQ: Well, sort of a mixed bag
NBK: In-fighting between GoK & NSSF


I think Gok heavy stocks in general fail one of buffets main requirements of: good management you can trust.
The investor's chief problem - and even his worst enemy - is likely to be himself
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VituVingiSana
#10 Posted : Thursday, December 19, 2013 1:59:33 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,121
Location: Nairobi
And the crap hits the fan

http://www.nation.co.ke/...0/-/b0d7taz/-/index.html
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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guru267
#11 Posted : Thursday, December 19, 2013 3:54:01 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
I hope those zombies at the CMA do not suspend the share.. I got in at 32 and believe I have room for exit! Pray Pray Pray Pray
Mark 12:29
Deuteronomy 4:16
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young
#12 Posted : Thursday, December 19, 2013 10:22:37 AM
Rank: Elder


Joined: 6/20/2007
Posts: 2,037
Location: Lagos, Nigeria
guru267 wrote:
I hope those zombies at the CMA do not suspend the share.. I got in at 32 and believe I have room for exit! Pray Pray Pray Pray



Lesson my dear Chief Guru, be less speculative and take less risk. You had a narrow escape with Mumias. You remember HAFR,KNRE ?

I was getting worried about the level of risk you are taking purely on speculative reasons, if I get your email I would have discussed that with you personally. I do not want you to lose money.

Stay on stable companies because you have the knowledge and intelligence to speculate on stable stocks.

It is with all good intentions dear @Chief Guru. I need to learn and read more on your opinion on stable companies.

I respect and thank you for your contribution,
with that of @Hisah, and @Obiero. In 2013 it was from Obiero I pitched my tent with HFCK. @Chief Guru gave me confirmation on Panafric, please stay with good , stable and highly captilized companies.

Do not just do the research for people like me
to benefit but at the end you do not achieve much because of over speculation.
Please forget about thinly traded BOC.
Please avoid controversial and newly listed companies as you have myriad of choices to speculate on.

You know very well young is not young in age. I will be 52 next year June, God sparing our lives and I have profitted a lot from your
NSE since my debut in 2004 and from this forum.

With Regards
Young old man.
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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mibbz
#13 Posted : Thursday, December 19, 2013 1:32:19 PM
Rank: Member


Joined: 2/18/2011
Posts: 448
they did some serious book cooking;lets see how far the banks shall go this time round with their cooking for FY13
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guru267
#14 Posted : Thursday, December 19, 2013 1:44:48 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
@young you seem to be VERY risk averse... I on the other hand have a very very large appetite for risk that is not going anywhere anytime soon!

I have a long term portfolio and a speculative portfolio.. The long term one bores me to death and the speculative one is forever keeping me on my toes but both make money...

I bought Portland at between 32 and 37... Due to the bad news out yesterday I've sold a third of my stock today at between 77-78 with the intention of completely exiting in one week!

Having small cap speculative stocks with immense growth potential are essential in any portfolio especially if one is in the youth age bracket! You can manage risk exposure by having your ear on the ground

illiquidity does not phase the guru267!!
Mark 12:29
Deuteronomy 4:16
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tomtom
#15 Posted : Thursday, December 19, 2013 2:27:24 PM
Rank: New-farer


Joined: 11/19/2013
Posts: 33
Question? does GOVT. and NSSF have a votes at an AGM. All the agenda items were passed through acclamation. Portland’s company secretary John Maonga "...shareholders successfully passed all agenda items at the AGM."B/daily. Clowns d'oh!
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guru267
#16 Posted : Tuesday, December 24, 2013 10:57:16 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
Exit complete pap!

My best gains for 2013 smile
Mark 12:29
Deuteronomy 4:16
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Pesa Nane
#17 Posted : Wednesday, December 25, 2013 2:58:31 AM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
tomtom wrote:
Question? does GOVT. and NSSF have a votes at an AGM. All the agenda items were passed through acclamation. Portland’s company secretary John Maonga "...shareholders successfully passed all agenda items at the AGM."B/daily. Clowns d'oh!

AGM resolutions suspended, PAP.

Suspension notice
Pesa Nane plans to be shilingi when he grows up.
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Magnate
#18 Posted : Saturday, December 28, 2013 1:35:23 PM
Rank: Member


Joined: 11/1/2013
Posts: 257
guru267 wrote:
Exit complete pap!

My best gains for 2013 smile



Took an exit also....i will be waiting for a bargain once their board dramas are over as i wait patiently for +VE H1 results come late Feb 2014.
No diagnosis,no pragnosis,no pragnosis no profit......Jesse livermore
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guru267
#19 Posted : Saturday, December 28, 2013 1:57:25 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
Magnate wrote:
guru267 wrote:
Exit complete pap!

My best gains for 2013 smile



Took an exit also....i will be waiting for a bargain once their board dramas are over as i wait patiently for +VE H1 results come late Feb 2014.


I don't think there will be any +VE results for Portland in 2014 Sad
Mark 12:29
Deuteronomy 4:16
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obiero
#20 Posted : Saturday, December 28, 2013 6:21:39 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,552
Location: nairobi
young wrote:
guru267 wrote:
I hope those zombies at the CMA do not suspend the share.. I got in at 32 and believe I have room for exit! Pray Pray Pray Pray



Lesson my dear Chief Guru, be less speculative and take less risk. You had a narrow escape with Mumias. You remember HAFR,KNRE ?

I was getting worried about the level of risk you are taking purely on speculative reasons, if I get your email I would have discussed that with you personally. I do not want you to lose money.

Stay on stable companies because you have the knowledge and intelligence to speculate on stable stocks.

It is with all good intentions dear @Chief Guru. I need to learn and read more on your opinion on stable companies.

I respect and thank you for your contribution,
with that of @Hisah, and @Obiero. In 2013 it was from Obiero I pitched my tent with HFCK. @Chief Guru gave me confirmation on Panafric, please stay with good , stable and highly captilized companies.

Do not just do the research for people like me
to benefit but at the end you do not achieve much because of over speculation.
Please forget about thinly traded BOC.
Please avoid controversial and newly listed companies as you have myriad of choices to speculate on.

You know very well young is not young in age. I will be 52 next year June, God sparing our lives and I have profitted a lot from your
NSE since my debut in 2004 and from this forum.

With Regards
Young old man.

Thanks @young for the kind mention. Please find time to visit www.winda.co.ke and sign up for free. Meanwhile, please school members on 2014 in regard to financials over exposure. It is likely to be a nasty year regulationwise

HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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