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Uchumi - A value play?
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VituVingiSana
#21 Posted : Monday, November 03, 2014 6:49:35 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
Gordon Gekko wrote:
I learnt a very expensive lesson with the KQ/TN team. I'm not repeating the same mistake with the UCH/JC team. I will sit out my rights, unless JC is removed from the equation now. And to imagine he rakes in a metre and change each month - very painful.
TN had zero shares in KQ. ZERO. Does JC have a significant number shares in Uchumi?

BTW, the first CEO (after Uchumi went public) was the largest individual shareholder in Uchumi. And #3 after ICDC and ICDCIC when it went public. And we know how Uchumi performed as a business in those very tough Goldenberg years.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Aguytrying
#22 Posted : Monday, November 03, 2014 6:52:37 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
I'm not hating when I say their supermarkets stink. aga khan walk.
JC gets a metre each month? now I understand everything. this is KQ all over again.
The investor's chief problem - and even his worst enemy - is likely to be himself
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Gatheuzi
#23 Posted : Tuesday, November 04, 2014 4:56:11 PM
Rank: Veteran

Joined: 8/16/2009
Posts: 994
Aguytrying wrote:
I'm not hating when I say their supermarkets stink. aga khan walk.
JC gets a metre each month? now I understand everything. this is KQ all over again.


I also sensed that issue at AgaKhan and thought my nostrils were playing a game on me.

So the fundamental question remains, why expand if we can't first maintain the cooling & refrigeration right?
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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sparkly
#24 Posted : Tuesday, November 04, 2014 10:43:34 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Gatheuzi wrote:
Aguytrying wrote:
I'm not hating when I say their supermarkets stink. aga khan walk.
JC gets a metre each month? now I understand everything. this is KQ all over again.


I also sensed that issue at AgaKhan and thought my nostrils were playing a game on me.

So the fundamental question remains, why expand if we can't first maintain the cooling & refrigeration right?

The one at Adams Arcade had become a kibanda selling mandazi, chapati and just as disorganised.
Life is short. Live passionately.
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sparkly
#25 Posted : Wednesday, November 05, 2014 7:22:58 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
www.businessdailyafrica....72/-/24g47z/-/index.html

Uchumi on an acquisition spree.

While Shoprite is exiting TZ.

They have not paid suppliers in Kenya.

They have taken loan of KES 600m from KCB.

Acquisition was financed by debt.

Rights issue to expand into small and insignificant markets of Rwanda Burundi.

Shareholders should be very afraid... Insolvency 2.0 coming soon.
Life is short. Live passionately.
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MRNYOIKE
#26 Posted : Wednesday, November 05, 2014 11:42:47 AM
Rank: Hello

Joined: 11/5/2014
Posts: 1
UCHUMI is a good company and trading at cheap.
this is a good company for acuisation and i worry why there is no take over bid.

it has been hit by competition but their expansiob currently is not as reckless as her peers who have not learnt from Uchumi ealier strategy
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Gatheuzi
#27 Posted : Wednesday, November 05, 2014 1:59:22 PM
Rank: Veteran

Joined: 8/16/2009
Posts: 994
sparkly wrote:
www.businessdailyafrica.com/Corporate-News/Uchumi-acquires-Dar-supermarket-in-growth-drive/-/539550/2509572/-/24g47z/-/index.html

Uchumi on an acquisition spree.

While Shoprite is exiting TZ.

They have not paid suppliers in Kenya.

They have taken loan of KES 600m from KCB.

Acquisition was financed by debt.

Rights issue to expand into small and insignificant markets of Rwanda Burundi.

Shareholders should be very afraid... Insolvency 2.0 coming soon.


A loan at 18% interest from KCB. And another 405M from Coop bank. That means close to 200M per annum will go in payment of interest leave alone the principal. I wish they were applying the rights to reduce these expensive loans. We have bonds, so why not consider such or place a commercial paper
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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mkonomtupu
#28 Posted : Wednesday, November 05, 2014 2:40:21 PM
Rank: Veteran

Joined: 2/10/2010
Posts: 1,001
Location: River Road
Gatheuzi wrote:
sparkly wrote:
www.businessdailyafrica.com/Corporate-News/Uchumi-acquires-Dar-supermarket-in-growth-drive/-/539550/2509572/-/24g47z/-/index.html

Uchumi on an acquisition spree.

While Shoprite is exiting TZ.

They have not paid suppliers in Kenya.

They have taken loan of KES 600m from KCB.

Acquisition was financed by debt.

Rights issue to expand into small and insignificant markets of Rwanda Burundi.

Shareholders should be very afraid... Insolvency 2.0 coming soon.


A loan at 18% interest from KCB. And another 405M from Coop bank. That means close to 200M per annum will go in payment of interest leave alone the principal. I wish they were applying the rights to reduce these expensive loans. We have bonds, so why not consider such or place a commercial paper


What insolvency d'oh! d'oh!? if your annual turnover is 14 billion, your annual profits 400 million, and you are borrowing 1 billion secured by 2.2 billion assets. Stop fearing leverage.

The KCB loan is one year loan.

If they get rights cash which goes to working capital then this one is a butterfly. Uchumi shareholders should support the rights if they want it to fly.
Material disclosure: I own zero shares here
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Akenyan2014
#29 Posted : Monday, November 10, 2014 10:44:50 AM
Rank: Member

Joined: 5/6/2014
Posts: 268
Location: Nairobi, Kenya
Boris Boyka wrote:
sparkly wrote:
If only Uchumi had continued on the same trajectory they were on 14 yrs ago, I would be a very rich man!

@sparkly so you're poor than you were courtesy of uchumi,MSC,kk,...I see this 2014 wasn't on your side.....2015-2016 ni yako kuwa very rich.


2014 casualties: CARB, UCHM, MSC, TCL, KQ ordered from the worst hit.

Perhaps if UCHM goes back to 6bob of 2012 we could see it reclaiming its 18.0 position in a short while. Correct me.
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hisah
#30 Posted : Monday, November 10, 2014 12:33:44 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
I again I ask, who is the underwriter of this rights issue? For Mr Market to discount the price vs rights price that signal is as clear as it gets.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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