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Housing Finance: HFCK a diamond in the rough
Rank: Member Joined: 12/5/2013 Posts: 224
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heri wrote:MaichBlack wrote:Kenya Building Society will be the cash cow for Housing Finance! Watch this space. just wondering how profitable these projects are. according to Business daily ''Last year, KBS completed constructing 162 units in Komarock Phase 5A, which generated Sh200 million profit for the company. About 162 houses retailed for a minimum of Sh6.8 million at the start of the construction in 2012'' does this mean each house generates just about sh 1million or about 700K after tax? that return would be just about 15% I did some few houses in Nakuru and each 2 bedroom house costed me sh 2M. each has a market value of sh 4M.Very good finishing (renting at sh 22k) i wonder if HFCK can generate that kind of returns on these houses, because if their costs are not too high per house, then this is share that will go places Their achilles heel is their source of funds. They are using expensive credit to finance projects that have returns in the future. The spreads are minimum. Not to mention the regulatory environment doesn't exactly favour them, not with every other bank peddling mortgages. The management is still stuck in stone age, yet to wake up to reality.
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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The optimist wrote:mlennyma wrote:Bring back our money.what a total waste of time? ???I wish I bought something else What was the allocation rate today they are crediting your cds account with what you got,tomorrow you will trade with them,get your eft refund or cheque "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Member Joined: 3/15/2010 Posts: 391 Location: nairobie
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mlennyma wrote:The optimist wrote:[quote=mlennyma]Bring back our money.what a total waste of time? ???I wish I bought something else What was the allocation rate you are talking as if you know the allocation rate please tell us
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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I wanted 15,000 additional shares, I got 800 what a waste of time?? "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 6/23/2009 Posts: 13,549 Location: nairobi
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mlennyma wrote:I wanted 15,000 additional shares, I got 800 what a waste of time?? And now the price is approaching the genuine 30bob :)
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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mlennyma wrote:I wanted 15,000 additional shares, I got 800 what a waste of time?? Agreed my friend. The allocation criteria used here only favoured the big shareholders. Its the same criteria that was used in the recent NIC rights issue ... Only DTB had a different one
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Rank: Member Joined: 9/14/2011 Posts: 834 Location: nairobi
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I must confess that i get abit confused with HF . in my view constructing and selling houses is a very luctrative business especially for people with the experience and who do it in large scale
so my view is that they should be making big margins on the houses they build and sell
but their profits do not seem to reflect that view that i hold . Atleast for 2014 performance
If HF sells a house for say 7M, should their construction costs for such a house really be more than sh 4m all costs included? in which case they should make a huge profit
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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mlennyma wrote:I wanted 15,000 additional shares, I got 800 what a waste of time?? wacha tu. but looks like most good counters will be affordable soon The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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mlennyma wrote:I wanted 15,000 additional shares, I got 800 what a waste of time?? What?? That's a measly 5.3% As for me: Allotted rights: Got 100%Additional Application: Got 42.2%Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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Pesa Nane wrote:mlennyma wrote:I wanted 15,000 additional shares, I got 800 what a waste of time?? What?? That's a measly 5.3% As for me: Allotted rights: Got 100%Additional Application: Got 42.2% The allocation policy favoured those who had a higher number of shares on book closure. So the buy 100 shares then apply for many rights didnt work on this one  The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Has anyone received their refund?
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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mwekez@ji wrote:Has anyone received their refund? was told tomorrow or next week when I bitterly demanded, you can't deny me and succeed, wait for sub 30 "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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mlennyma wrote:mwekez@ji wrote:Has anyone received their refund? was told tomorrow or next week when I bitterly demanded, you can't deny me and succeed, wait for sub 30  Cursed be yee that denies @mlennyma ...  Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Boris Boyka wrote:mlennyma wrote:mwekez@ji wrote:Has anyone received their refund? was told tomorrow or next week when I bitterly demanded, you can't deny me and succeed, wait for sub 30 Cursed be yee that denies @mlennyma ...  "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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the Star wrote:HOUSING Finance plans a banking subsidiary christened HFC Bank in 2015, subject to Central Bank of Kenya approval, its managing director Frank Ireri said yesterday.
This will be done through the setting up of a holding company that will oversee the project.
Ireri disclosed this during the bell ringing to open the trading of 166,666,667 additional ordinary shares at the Nairobi Securities Exchange in which the mortgage lender successfully raised Sh3.5 billion in a Rights Issue that was oversubscribed by 257 per cent.
- See more at: http://www.the-star.co.k...ary#sthash.l9ywIAo7.dpuf"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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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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Shady broker. Mine e-mailed me on Wednesday to ask why I haven't picked it up... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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VituVingiSana wrote:Shady broker. Mine e-mailed me on Wednesday to ask why I haven't picked it up... NAMING AND SHAMING this shameless broker: CFC, Kenyatta Avenue Branch They are still shamelessly telling me that they have not received the refund cheques yet. Drat!
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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mwekez@ji wrote:VituVingiSana wrote:Shady broker. Mine e-mailed me on Wednesday to ask why I haven't picked it up... NAMING AND SHAMING this shameless broker: CFC, Kenyatta Avenue Branch They are still shamelessly telling me that they have not received the refund cheques yet. Drat! Refund EFT 'got in' on Wednesday. Pesa Nane plans to be shilingi when he grows up.
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Housing Finance: HFCK a diamond in the rough
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