Wazua
»
Investor
»
Stocks
»
Mumias Sugar huge demand
Rank: New-farer Joined: 5/15/2014 Posts: 12 Location: Nairobi
|
I strongly believe Mumias has a bright future once they clean their house, an action they, hopefully, have begun by firing corrupt managers.
|
|
|
Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
|
streetwise wrote:I totally agree..Mumias has a lot of social impact where it operates and what is needed is management team of impeachable character and the rest will be history.
Imagine..a company that produces sugar, water and even electricity..I have even seen them adverting tender for building bridges...
When the whales are hungry they eat the small fish regardless of "fish rights" Miwani sugar mills produced Normal sugar,refined sugar, molasses,spirit &domestic electricity. had 6000 permanent &10000 casual staff,hospital,primary,high school among other constructions supporting about (60000 population) next to them were chemilil &muhoroni with similar facilities except producing spirit , electricity &refined sugar. a tour from kisumu road block Miwani milimani chemilil nandi hills muhoroni covering over 45000 acres of land jointly supporting over 500000ppl directly or indirectly. they failed as results of POLITICS not management. R..I.p Magan visionary owner of Miwani. the problems they faced one by one are now in mumias. The EVIL thing is COST OF PRODUCTION it must come down for realistic payments to farmers and fair pricing of sugar produced in line with regional competition . Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
|
|
|
Rank: Veteran Joined: 4/23/2014 Posts: 909
|
Boris Boyka wrote:streetwise wrote:I totally agree..Mumias has a lot of social impact where it operates and what is needed is management team of impeachable character and the rest will be history.
Imagine..a company that produces sugar, water and even electricity..I have even seen them adverting tender for building bridges...
When the whales are hungry they eat the small fish regardless of "fish rights" Miwani sugar mills produced Normal sugar,refined sugar, molasses,spirit &domestic electricity. had 6000 permanent &10000 casual staff,hospital,primary,high school among other constructions supporting about (60000 population) next to them were chemilil &muhoroni with similar facilities except producing spirit , electricity &refined sugar. a tour from kisumu road block Miwani milimani chemilil nandi hills muhoroni covering over 45000 acres of land jointly supporting over 500000ppl directly or indirectly. they failed as results of POLITICS not management. R..I.p Magan visionary owner of Miwani. the problems they faced one by one are now in mumias. The EVIL thing is COST OF PRODUCTION it must come down for realistic payments to farmers and fair pricing of sugar produced in line with regional competition . You seem to forget this was during the single party rule, where as you put it the "whales were hungry " and the rest of us had to try and scramble for anything that came out the rear-end. With the county government and hopefully better management as well as the privatization and accountability that will come with it, I believe we shall see a better future in this sector for all especially the locals who have been generally short-changed in this matters.  “You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
|
|
|
Rank: Member Joined: 7/20/2012 Posts: 141
|
Why is West Kenya Sugar at Kabras is thriving while the rest are strugglingyet they are in the same business and in almost same locality?
|
|
|
Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
|
Managers/leaders are a very key driver of business..when a busniess lacks these it will surely die
|
|
|
Rank: New-farer Joined: 5/15/2014 Posts: 12 Location: Nairobi
|
I think with the latest drastic action by Mumias Sugar to do away with corrupt managers and the strategy to reduce production costs,Mumias is taking the right steps. The thing now should be to ensure misuse of farmers is history. They should also try to counter illegal sugar importation.
|
|
|
Rank: Veteran Joined: 4/23/2014 Posts: 909
|
|
|
|
Rank: New-farer Joined: 5/15/2014 Posts: 12 Location: Nairobi
|
|
|
|
Rank: Member Joined: 8/4/2012 Posts: 155 Location: Kenya
|
Mumias expects to report a second consecutive annual loss for the year that ends June 30, Otolo said in an interview earlier this month, declining to specify the magnitude. A forensic report by KPMG found Mumias had incurred a 1 billion-shilling loss from January to March 2014 because of illegal sugar imports, Mumias said in a statement this month.  How is that encouraging? If you don't want to go to plan B have a good plan A.
|
|
|
Rank: Member Joined: 1/24/2013 Posts: 325
|
Mucene wrote:Mumias expects to report a second consecutive annual loss for the year that ends June 30, Otolo said in an interview earlier this month, declining to specify the magnitude. A forensic report by KPMG found Mumias had incurred a 1 billion-shilling loss from January to March 2014 because of illegal sugar imports, Mumias said in a statement this month. How is that encouraging? It's encouraging because we get to stock up...beat the kondoo while it's laying down..
|
|
|
Rank: Chief Joined: 5/31/2011 Posts: 5,121
|
> Will mumias sugar survive if the comesa safeguards are lifted?
> What is the current mumia's cost of production of sugar per metric tonne?
|
|
|
Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
|
mwekez@ji wrote:> Will mumias sugar survive if the comesa safeguards are lifted?
> What is the current mumia's cost of production of sugar per metric tonne? @mweke Topic: MSC Boris Boyka Posted: Wednesday, April 30, 2014 3:03:02 PM www.standardmedia.co.ke/...-kenyan-s-sugar-industry Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
|
|
|
Rank: Chief Joined: 5/31/2011 Posts: 5,121
|
Doing some back of the envelop calculation and finding mumias to be in worse ground than the dreadful state put in the article. Checked HY14 results where they sold 88,851 tonnes of sugar with cost of the sales at Kes. 5,641,980,000/- putting cost of a tonne at Kes. 63,499/-. That’s higher than the Kenya industry average of Kes 49,500 and far higher than the other Comesa countries’ production costs range of between Kes. 20,800 and Kes. 25,200. So, how can mumias cut its cost of production to a quarter what it is incurring now so that it can survive after comesa safeguards are lifted?
|
|
|
Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
|
mwekez@ji wrote:Doing some back of the envelop calculation and finding mumias to be in worse ground than the dreadful state put in the article. Checked HY14 results where they sold 88,851 tonnes of sugar with cost of the sales at Kes. 5,641,980,000/- putting cost of a tonne at Kes. 63,499/-. That’s higher than the Kenya industry average of Kes 49,500 and far higher than the other Comesa countries’ production costs range of between Kes. 20,800 and Kes. 25,200. So, how can mumias cut its cost of production to a quarter what it is incurring now so that it can survive after comesa safeguards are lifted? only a MIRACLE can work!!! not in near future.....untouchable "thitiiima" Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
|
|
|
Rank: New-farer Joined: 5/15/2014 Posts: 12 Location: Nairobi
|
Boris Boyka wrote:mwekez@ji wrote:Doing some back of the envelop calculation and finding mumias to be in worse ground than the dreadful state put in the article. Checked HY14 results where they sold 88,851 tonnes of sugar with cost of the sales at Kes. 5,641,980,000/- putting cost of a tonne at Kes. 63,499/-. That’s higher than the Kenya industry average of Kes 49,500 and far higher than the other Comesa countries’ production costs range of between Kes. 20,800 and Kes. 25,200. So, how can mumias cut its cost of production to a quarter what it is incurring now so that it can survive after comesa safeguards are lifted? only a MIRACLE can work!!! not in near future.....untouchable "thitiiima" Mumias Sugar making good steps; let's be positive  http://www.businessdaily.../-/m81claz/-/index.html
|
|
|
Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
|
We will see...who was right..some guys may get really rich or at worst wait longer.
|
|
|
Rank: New-farer Joined: 5/15/2014 Posts: 12 Location: Nairobi
|
streetwise wrote:We will see...who was right..some guys may get really rich or at worst wait longer. http://www.google.com/ur...p;bvm=bv.69837884,d.ZWU
Lets wait and see
|
|
|
Rank: Member Joined: 8/4/2012 Posts: 155 Location: Kenya
|
CuriosityMove wrote:I strongly believe Mumias has a bright future once they clean their house, an action they, hopefully, have begun by firing corrupt managers. CEO Dismissed, hope its the clean up that we've been waiting for. Just wondering why I have not seen the story from the local media. http://www.businessweek....-of-unauthorized-imports If you don't want to go to plan B have a good plan A.
|
|
|
Rank: Chief Joined: 1/3/2007 Posts: 18,095 Location: Nairobi
|
Mucene wrote:[quote=CuriosityMove]I strongly believe Mumias has a bright future once they clean their house, an action they, hopefully, have begun by firing corrupt managers. CEO Dismissed, hope its the clean up that we've been waiting for. Just wondering why I have not seen the story from the local media. http://www.businessweek....of-unauthorized-imports[/quote] You would have if you would buy a newspaper once in a while. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
|
|
|
Rank: Veteran Joined: 4/23/2014 Posts: 909
|
Does anyone know when this KPMG report is coming out? “You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
|
|
|
Wazua
»
Investor
»
Stocks
»
Mumias Sugar huge demand
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|