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Mumias Sugar HY2013/14
Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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A business which relies on safe guards to survive is a bad business...Mumias is a bad business...which will eventually die...a huge jump in revenues but look at the cash flow statement...its in the red...i thought people buy sugar on cash...u can even see the Ksh500mn bail out from gava helped steady this sinking ship...so to cut the story short...Mumias has cash flow issues...there will be no dividend this year...the interim earnings look even cooked...the EA Portland Cement way....
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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Aguytrying wrote:@dunkang. Are you in this bus or just cheering us on? Bought Mumias at 6/- some years ago and forgot about it. Just watching my money disappear!!!!! Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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dunkang wrote:Aguytrying wrote:@dunkang. Are you in this bus or just cheering us on? Bought Mumias at 6/- some years ago and forgot about it. Just watching my money disappear!!!!! Haha hehe @dunkang you should have burnt your fingers at around 4.00 and treat them with other counters that by now could have compensated & given more ROI Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Member Joined: 2/18/2011 Posts: 448
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Allow me to share my Mumias story;as a present to completing high school early 2000s,old man bought me 1000 mumias shares at ksh 9.i had always wanted to own shares and i was over the moon about it.A few years later i dumped the shares at 52 bob.
2nd time round i bought some mumias shares which split and i forgot about them;a year later i re-discovered my 4k mumias shares and immediately disposed them at 25.
It has previously made me a fortune and i have an emotional connection to it but i shall keep off till the buy signal flashes;i dont see how people are still pumping money in a company making loses with the hope comesa shall be lenient;even if they get an extension,what is the company doing to improve its current position? what happened to electricity generation,ethanol,bottled water and dairy business?! whats the solution to cane poaching? what about competitiors from within the country,that factory in kwale that was recently launched.
look at other mumias thread on this forum,investors started buying mumias last year at ksh 3-4 range when britam was ksh 8,pan africa ksh40,centum ksh15....all the best
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Rank: Member Joined: 4/14/2011 Posts: 639
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mibbz wrote:Allow me to share my Mumias story;as a present to completing high school early 2000s,old man bought me 1000 mumias shares at ksh 9.i had always wanted to own shares and i was over the moon about it.A few years later i dumped the shares at 52 bob.
2nd time round i bought some mumias shares which split and i forgot about them;a year later i re-discovered my 4k mumias shares and immediately disposed them at 25.
It has previously made me a fortune and i have an emotional connection to it but i shall keep off till the buy signal flashes;i dont see how people are still pumping money in a company making loses with the hope comesa shall be lenient;even if they get an extension,what is the company doing to improve its current position? what happened to electricity generation,ethanol,bottled water and dairy business?! whats the solution to cane poaching? what about competitiors from within the country,that factory in kwale that was recently launched.
look at other mumias thread on this forum,investors started buying mumias last year at ksh 3-4 range when britam was ksh 8,pan africa ksh40,centum ksh15....all the best
@Mibbz kindly drop me a mail on hunderwear at gmail (dot) com
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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Book value is still 9bob despite all! Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 2/7/2007 Posts: 11,935 Location: Nairobi
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Lots of people seem to believe that COMESA is a threat to the Kenyan sugar industry. In the whole of Africa,the only net exporter of sugar is Mauritius......Sugar bought in Brazil,packaged in Swaziland/Malawi then shipped to Kenya in the guise of Comesa is the actual threat. Nothing great was ever achieved without enthusiasm.
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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Njung'e wrote:Lots of people seem to believe that COMESA is a threat to the Kenyan sugar industry. In the whole of Africa,the only net exporter of sugar is Mauritius......Sugar bought in Brazil,packaged in Swaziland/Malawi then shipped to Kenya in the guise of Comesa is the actual threat. And those to curb the "illegal" sugar import are the importers. @gur267 a value in the book,on the screen,in the bank and in the pocket which is a real value? Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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This pessimism is quite good. Drive the counter to 2.00. Preferably this week!!
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Rank: Member Joined: 2/18/2011 Posts: 448
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guru267 wrote:Book value is still 9bob despite all! Book value of KK is ksh 20 despite all!!
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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mibbz wrote:guru267 wrote:Book value is still 9bob despite all! Book value of KK is ksh 20 despite all!! Since when were you able to give book value of KK??
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Rank: Member Joined: 2/18/2011 Posts: 448
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mwekez@ji wrote:mibbz wrote:guru267 wrote:Book value is still 9bob despite all! Book value of KK is ksh 20 despite all!! Since when were you able to give of book value of KK?? @Mwekezaji its a pun; had a chat with a friend from the financial division and was amazed at the sort of corporate governance issues they faced/are trying to resolve.Must admit current management is trying to do a good job in reviving the company but its a tall order and i believe the GoK shall still have to pump in more money to rescue this ship esp with the upcoming fund for jump starting manufacturing industry
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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mibbz wrote:mwekez@ji wrote:mibbz wrote:guru267 wrote:Book value is still 9bob despite all! Book value of KK is ksh 20 despite all!! Since when were you able to give book value of KK?? @Mwekezaji its a pun; had a chat with a friend from the financial division and was amazed at the sort of corporate governance issues they faced/are trying to resolve.Must admit current management is trying to do a good job in reviving the company but its a tall order and i believe the GoK shall still have to pump in more money to rescue this ship esp with the upcoming fund for jump starting manufacturing industry @mibbz, both MSC and KK are good turnaround plays. Its happening and sooner rather than latter, they will make investors money ... Someone drive MSC to 2 bob and KK to sub 8 
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Rank: Member Joined: 3/9/2010 Posts: 320 Location: kenya
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Forget about this counter. Who is willing to invest hard earned cash in loss making business. I bought it @9 Bob and sold @3 Bob. Thank God the sum invest was small. My opinion, its your money your choices. Work hard at your job and you can make a living. Work hard on yourself and you can make a fortune.
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Rank: Member Joined: 2/18/2011 Posts: 448
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Update from sterling capital research department:
Mumias: posted its HY14 results this morning with some improved margins on its P&L accounts. Revenues for the half year were jumped by 31% on y/y basis to KES 7.13Bn. This was attributed to an increase in the capacity of sugarcane crashed from 552,181tons to 964,883tons from the previous year. Y/y sugar production and sales also improved by 21% and 29% respectively. In addition, the Ethanol segment contributed 448Mn in revenues while the water segment added KES 14Mn to the topline. The co-generation plant felt the impact of insufficient raw materials due to the decline in cane yield affecting resulting in a 46% drop of the plant’s revenues. Despite this, the gross profit margin strengthened to 20.4% from 2.6%.
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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Ever heard of the saying "Buy when the blood is in the street.."
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Rank: Member Joined: 1/13/2014 Posts: 386 Location: Denmark
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Rank: Member Joined: 3/15/2010 Posts: 391 Location: nairobie
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i can see some people trying to force mumias at two bob lets see if their wishes will come true
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Teren, teren... COMESA SUMMIT The Deputy President will be representing President Uhuru Kenyatta at the summit that will take place in Kinshasa between February 26 and 27. Two major issues affecting Kenya including COMESA sugar safeguards measures and Non-Tariff barriers will also be discussed at the meeting. http://www.capitalfm.co....-uhuru-at-comesa-summit/
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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Silently demand for sugar (mumias) has increased and top gainer every other day, trading over ten times the volumes it used to before H1 results. still people fear comesa. The investor's chief problem - and even his worst enemy - is likely to be himself
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