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Madness at the NSE
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kawi254
#921 Posted : Friday, August 28, 2015 7:59:49 AM
Rank: Member


Joined: 2/20/2015
Posts: 467
Location: Nairobi
hisah wrote:
sparkly wrote:
hisah wrote:
Long KPLC short Kengen. Simple. I expect the latter to post very ugly forex losses.


@Hisah aren't the Forex costs passed through to KPLC and ultimately to the consumer? Kengen gets a flat tariff for power sold to the distributor.

Those FX loans that kengen has is what I'm looking at.



Kenya Power buys energy from IPPs & Kengen in USD. Forex losses are passed on to the consumer.
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Cornelius Vanderbilt
#922 Posted : Friday, August 28, 2015 8:52:39 AM
Rank: Member


Joined: 8/15/2015
Posts: 817
kawi254 wrote:
hisah wrote:
sparkly wrote:
hisah wrote:
Long KPLC short Kengen. Simple. I expect the latter to post very ugly forex losses.


@Hisah aren't the Forex costs passed through to KPLC and ultimately to the consumer? Kengen gets a flat tariff for power sold to the distributor.

Those FX loans that kengen has is what I'm looking at.



Kenya Power buys energy from IPPs & Kengen in USD. Forex losses are passed on to the consumer.




haiya ?
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Ericsson
#923 Posted : Friday, August 28, 2015 9:38:52 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,769
Location: NAIROBI
@kawi254;
Kengen and Kenya power have loans denominated in foreign currency such as USD,Yen and Euro.
Our currency has weakened versus the 3 major currencies I have mentioned; hence the anticipated forex losses which they try hedging by passing them to consumers
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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sparkly
#924 Posted : Friday, August 28, 2015 10:27:05 AM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
kawi254 wrote:
hisah wrote:
sparkly wrote:
hisah wrote:
Long KPLC short Kengen. Simple. I expect the latter to post very ugly forex losses.


@Hisah aren't the Forex costs passed through to KPLC and ultimately to the consumer? Kengen gets a flat tariff for power sold to the distributor.

Those FX loans that kengen has is what I'm looking at.



Kenya Power buys energy from IPPs & Kengen in USD. Forex losses are passed on to the consumer.


Good people of the blue section, will someone clear the air whether exchange losses on Kengen FOREX loans are passed through to the consumer or borne by Kengen.

I was of the opinion that they are passed through. Very interested in the answer for obvious reasons.
Life is short. Live passionately.
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Pesa Nane
#925 Posted : Friday, August 28, 2015 12:35:03 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
sparkly wrote:
kawi254 wrote:
hisah wrote:
sparkly wrote:
hisah wrote:
Long KPLC short Kengen. Simple. I expect the latter to post very ugly forex losses.


@Hisah aren't the Forex costs passed through to KPLC and ultimately to the consumer? Kengen gets a flat tariff for power sold to the distributor.

Those FX loans that kengen has is what I'm looking at.



Kenya Power buys energy from IPPs & Kengen in USD. Forex losses are passed on to the consumer.


Good people of the blue section, will someone clear the air whether exchange losses on Kengen FOREX loans are passed through to the consumer or borne by Kengen.

I was of the opinion that they are passed through. Very interested in the answer for obvious reasons.

Forex losses on the loans are absorbed by the KP & Kengen shareholders.
Forex losses on long-term purchase agreements (diesel, Power purchase components etc) are passed on to the customers.
I could be wrong though.
Pesa Nane plans to be shilingi when he grows up.
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kawi254
#926 Posted : Friday, August 28, 2015 2:05:37 PM
Rank: Member


Joined: 2/20/2015
Posts: 467
Location: Nairobi

From last KenGen 2014 Annual Report page 138

19. RECOVERABLE FOREIGN EXCHANGE ADJUSTMENT
(a) Recoverable foreign exchange adjustment relates to unrealised exchange differences on foreign denominated borrowings
recoverable from Kenya Power when realised. The Power Purchase Agreement (“PPA”) with Kenya Power, allows the company
to bill and recover all realised foreign currency fluctuations relative to the base rates allowed by the PPA
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sparkly
#927 Posted : Friday, August 28, 2015 2:39:59 PM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
kawi254 wrote:

From last KenGen 2014 Annual Report page 138

19. RECOVERABLE FOREIGN EXCHANGE ADJUSTMENT
(a) Recoverable foreign exchange adjustment relates to unrealised exchange differences on foreign denominated borrowings
recoverable from Kenya Power when realised. The Power Purchase Agreement (“PPA”) with Kenya Power, allows the company
to bill and recover all realised foreign currency fluctuations relative to the base rates allowed by the PPA


Thanks @kawi. I guess this settles it.
Life is short. Live passionately.
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Gatheuzi
#928 Posted : Friday, August 28, 2015 7:54:28 PM
Rank: Veteran


Joined: 8/16/2009
Posts: 994
Ericsson wrote:
Stock markets rally worldwide.
Chinese pension funds to pump 2 trillion yuan to the stock mkt.
Banks to provide a further 1.3 trillion yuans in loans to institutional investors to buy shares in the Chinese stock mkt.
Governments that care about investors in the stock mkt.
Here in Kenya uko pekee yako

It is good to let the market forces determine prices. If that market crashes, pensioners may eat a humble pie while banks will obviously book some NPLs or get forced to renegotiate terms.
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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Kahuna
#929 Posted : Tuesday, September 01, 2015 9:42:13 AM
Rank: New-farer


Joined: 8/6/2015
Posts: 26
Anyone to explain current phenomenon at the market ? Many counters seem to be well into the green. Is it the usual correction before they tumble again after a few days ? Your thoughts on this will be highly appreciated !
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maka
#930 Posted : Tuesday, September 01, 2015 9:57:56 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Kahuna wrote:
Anyone to explain current phenomenon at the market ? Many counters seem to be well into the green. Is it the usual correction before they tumble again after a few days ? Your thoughts on this will be highly appreciated !


Question is,is it sustainable?
possunt quia posse videntur
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Sir invest
#931 Posted : Tuesday, September 01, 2015 10:22:16 AM
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Joined: 8/19/2015
Posts: 125
One day fluctuation is not sufficient to read the market direction. Again ONLY those in financial sector appear to have a slight gain this morning.
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Boris Boyka
#932 Posted : Thursday, September 03, 2015 9:54:23 PM
Rank: Veteran


Joined: 11/15/2013
Posts: 1,977
Location: Here
Aguytrying wrote:
Boris Boyka wrote:
Othelo wrote:
Boris Boyka wrote:
Though on thin volumes...but that is the direction.
CIC 8.10...likely to touch sub 8
KK 7.90...likely to touch 7.50
Stanchart 286....will it see a 250?
AfroNSE continues shortly.

smile smile smile

Cic now 7.50
Kk 8.15 .....still losing foot.


And so it came to pass

Targets were smashed
CIC 6.6
KK 7.85
SCBK 225
smile smile
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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faa
#933 Posted : Friday, September 04, 2015 9:51:59 AM
Rank: Member


Joined: 5/8/2007
Posts: 709
one can make serious un imaginable losses at the NSE .

3 months ago ARM cement was at 80-90 bob ,now its at 45-50.

Don't joke.better keep off and keep funds in unit trusts.
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maka
#934 Posted : Friday, September 04, 2015 9:58:34 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
faa wrote:
one can make serious un imaginable losses at the NSE .

3 months ago ARM cement was at 80-90 bob ,now its at 45-50.

Don't joke.better keep off and keep funds in unit trusts.


You can also make lots of money...what if the reverse happens?Which will happen...
possunt quia posse videntur
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mlennyma
#935 Posted : Friday, September 04, 2015 10:00:46 AM
Rank: Elder


Joined: 7/21/2010
Posts: 6,187
Location: nairobi
faa wrote:
one can make serious un imaginable losses at the NSE .

3 months ago ARM cement was at 80-90 bob ,now its at 45-50.

Don't joke.better keep off and keep funds in unit trusts.

some counters have shed 50% others are ok it depends on what one holds but the profit decline reporting is my first encounter in the nse.
"Don't let the fear of losing be greater than the excitement of winning."
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sparkly
#936 Posted : Friday, September 04, 2015 10:44:33 AM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
faa wrote:
one can make serious un imaginable losses at the NSE .

3 months ago ARM cement was at 80-90 bob ,now its at 45-50.

Don't joke.better keep off and keep funds in unit trusts.


@faa pole sana if this happened to your friend. Such are the Sentiments of a person being clawed by a bear but the market will recover.
Life is short. Live passionately.
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VituVingiSana
#937 Posted : Wednesday, September 30, 2015 12:49:15 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,187
Location: Nairobi
Which banks benefit from the Tea Bonus?

http://www.businessdaily...0/-/dtk7yt/-/index.html

Coop has to be one. There's KCB and Equity too.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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murchr
#938 Posted : Wednesday, September 30, 2015 6:06:48 AM
Rank: Elder


Joined: 2/26/2012
Posts: 15,980
VituVingiSana wrote:
Which banks benefit from the Tea Bonus?

http://www.businessdaily...0/-/dtk7yt/-/index.html

Coop has to be one. There's KCB and Equity too.


Tea saccos but co-op yes
"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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VituVingiSana
#939 Posted : Wednesday, September 30, 2015 7:18:31 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,187
Location: Nairobi
murchr wrote:
VituVingiSana wrote:
Which banks benefit from the Tea Bonus?

http://www.businessdaily...0/-/dtk7yt/-/index.html

Coop has to be one. There's KCB and Equity too.


Tea saccos but co-op yes
SACCOs have FOSAs but still need banks. Coop seems logical but since Equity has made inroads in the farming areas I expect they will benefit too.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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shiznit
#940 Posted : Wednesday, December 09, 2015 1:05:48 PM
Rank: New-farer


Joined: 5/21/2013
Posts: 72
Location: KENYA
Oh how things change. A different kind of madness is reigning now.
“The market can remain irrational longer than you can remain solvent.” - John Maynard Keynes
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