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Centum HY 2016 profit up 55% comprehensive income down 76%
Rank: Member Joined: 2/1/2010 Posts: 272 Location: Nairobi
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Kusadikika wrote:VituVingiSana wrote:MaichBlack wrote:Kusadikika wrote:mlennyma wrote:The c.e.o said things are on track and he spends a full day at that site at least once a week to make sure everything is on schedule, who else can contradict him with solid facts? If a CEO is spending time at a mjengo, that means things are not going well......actually it means things are really bad!! A CEO spending the whole day at a mjengo once a week. Kwani there are no structures at Centum? No delegation? I like that. The wadosi who never go to the factories, warehouses, sites are the lazy ones who have lost track of the business. Two Rivers is a major asset/development for Centum. Olympia - The useless CEO, Michael Matu, doesn't even know what happens at the factory! Years ago I went to the factory and they were doing nothing because there was no raw material. ARM - Paunrana knows what going on. He visits his factories regularly especially when they were under construction. Unga - The CEO's offices are located in the same compound as the warehouse and factory in Nairobi. In manufacturing and construction, if you do not keep an eye out, you will be conned. A story is told of how one day Bill Gates invited Warren Buffet to Microsoft and he gave him a tour of the company. After the tour Warren Buffet said he had seen more of Microsoft than he had seen any of his companies. He never goes there because he knows and trusts that the management of those companies know how to run them better than he does and he does not want to interfere with their work. Refer to @sparkly's comment above...avocados/pumpkins The harder you work, the luckier you get
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Rank: Elder Joined: 8/16/2011 Posts: 2,357
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 Touched 50Kes today. As they say we will only rush to buy when we here Kirubi was in the market and added his Centum stock at 40's but the price that time will be at 70Kes. So I will have lost a marginal gain of roughly 20-30Kes. This stock is buy. Like Kakuzi it will move above a 100 Kes soon and even touch 150Kes if a bonus issue will be declared 2016.
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Rank: Elder Joined: 7/21/2010 Posts: 6,191 Location: nairobi
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Realtreaty wrote: Touched 50Kes today. As they say we will only rush to buy when we here Kirubi was in the market and added his Centum stock at 40's but the price that time will be at 70Kes. So I will have lost a marginal gain of roughly 20-30Kes. This stock is buy. Like Kakuzi it will move above a 100 Kes soon and even touch 150Kes if a bonus issue will be declared 2016. i pray 40bob comes again, i regret buying so little at 40  but going by todays market mood below 40 nagoja "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 12/4/2009 Posts: 10,778 Location: NAIROBI
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The number of construction workers has been drastically reduced at Two Rivers Mall and Construction progressing at snail pace. Cashhflow issues;the project was too ambitious for a company the size of Centum. And now they want to buy Rea Vipingo land and build the Lamu Coal power. This company will go burst;beware of Kirubi's companies when u see them starting ambitious projects;history is repeating itself as this is the same path that Uchumi followed before its collapse in 2006. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,223 Location: Nairobi
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Ericsson wrote:The number of construction workers has been drastically reduced at Two Rivers Mall and Construction progressing at snail pace.
Cashhflow issues;the project was too ambitious for a company the size of Centum.
And now they want to buy Rea Vipingo land and build the Lamu Coal power.
This company will go burst;beware of Kirubi's companies when u see them starting ambitious projects;history is repeating itself as this is the same path that Uchumi followed before its collapse in 2006. Pearl Marina in Uganda Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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Once centum share price got to 65, the only other way to go was down and not the 100 predicted by the DJ
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Ericsson wrote:The number of construction workers has been drastically reduced at Two Rivers Mall and Construction progressing at snail pace.
Cashhflow issues;the project was too ambitious for a company the size of Centum.
And now they want to buy Rea Vipingo land and build the Lamu Coal power.
This company will go burst;beware of Kirubi's companies when u see them starting ambitious projects;history is repeating itself as this is the same path that Uchumi followed before its collapse in 2006. Main structures are finished at 2 Rivers I belief? Maybe it's time for finishing touches as they arrange to issue a REIT next year. Exiting through a REIT should release some cash flow. Life is short. Live passionately.
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Rank: Elder Joined: 12/4/2009 Posts: 10,778 Location: NAIROBI
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@sparkly Wapi main structures bado hazijaisha. 5 zoomlion cranes are still at site and they are not moving. Exit through REIT option but to who;problem is Centum and Kirubi want to make a kill so investors are shying away. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,778 Location: NAIROBI
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Currently Centum owns 58% of the mall having ceded stakes to AVIC and ICDC when they were experiencing cashflow issues earlier Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Ericsson wrote:@sparkly
Wapi main structures bado hazijaisha.
5 zoomlion cranes are still at site and they are not moving.
Exit through REIT option but to who;problem is Centum and Kirubi want to make a kill so investors are shying away.
@Ericson keep us in the know if you get some news. Though I feel that the DJ will not lack money to complete the project, through shafting some investors or otherwise. Life is short. Live passionately.
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Rank: Elder Joined: 12/4/2009 Posts: 10,778 Location: NAIROBI
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Maybe if they cede further stake to AVIC-parent company of the contractor CATIC and that will make AVIC majority shareholder of the mall. The benefit to CENTUM shareholders will then be have been reduced significantly. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,223 Location: Nairobi
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Ericsson wrote:Maybe if they cede further stake to AVIC-parent company of the contractor CATIC and that will make AVIC majority shareholder of the mall.
The benefit to CENTUM shareholders will then be have been reduced significantly.
Smart move to reduce debt by converting it into equity [at a fair conversion rate & profit] instead of struggling to make payments like ARM. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 5/14/2014 Posts: 289 Location: nairobi
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if you dont trust management then dont bother buying a company's stock. I find satisfaction in owning great business,not trading them
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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target1360 wrote:if you dont trust management then dont bother buying a company's stock. The Centum dilemma... You know the DJ is a jangili ... but you also know that he gets a good return for his shareholders... as long as interests are aligned. @target1360 what stocks are you invested in? Life is short. Live passionately.
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Rank: Chief Joined: 1/3/2007 Posts: 18,223 Location: Nairobi
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sparkly wrote:target1360 wrote:if you dont trust management then dont bother buying a company's stock. The Centum dilemma... You know the DJ is a jangili ... but you also know that he gets a good return for his shareholders... as long as interests are aligned. @target1360 what stocks are you invested in? It's rare for one's interests to be aligned with folks like Merali or Kirubi. That said, I like the Management of Centum but in the NSE universe, I see better choices, at lower risk, at current prices. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/25/2014 Posts: 2,301 Location: kenya
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sparkly wrote:Ericsson wrote:@sparkly
Wapi main structures bado hazijaisha.
5 zoomlion cranes are still at site and they are not moving.
Exit through REIT option but to who;problem is Centum and Kirubi want to make a kill so investors are shying away.
@Ericson keep us in the know if you get some news. Though I feel that the DJ will not lack money to complete the project, through shafting some investors or otherwise. Wish the money they gave as bonus to employee they would have used the money to buy some 1,000,000 bags of cement to finish the building. Now they are whining about cash flows yet wanakula. Iv never trusted this dj guy.history speaks for itself. Kenatco, icdc, Uchumi and others that we don't know
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Rank: Member Joined: 5/14/2014 Posts: 289 Location: nairobi
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- I find satisfaction in owning great business,not trading them
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Rank: Member Joined: 5/14/2014 Posts: 289 Location: nairobi
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sparkly wrote:target1360 wrote:if you dont trust management then dont bother buying a company's stock. The Centum dilemma... You know the DJ is a jangili ... but you also know that he gets a good return for his shareholders... as long as interests are aligned. @target1360 what stocks are you invested in? b.a.t,e.a.b.l, nic,unga,kcb,safcom, and my achilles heel is kenre! i also hold cfc stanbic since since it is my banker for stocks and transactions/savings I find satisfaction in owning great business,not trading them
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Rank: Member Joined: 5/14/2014 Posts: 289 Location: nairobi
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The guy will sell his stake to south african,cash out and leave you waiting for divindeds in 2019! I find satisfaction in owning great business,not trading them
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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target1360 wrote:sparkly wrote:target1360 wrote:if you dont trust management then dont bother buying a company's stock. The Centum dilemma... You know the DJ is a jangili ... but you also know that he gets a good return for his shareholders... as long as interests are aligned. @target1360 what stocks are you invested in? b.a.t,e.a.b.l, nic,unga,kcb,safcom, and my achilles heel is kenre! i also hold cfc stanbic since since it is my banker for stocks and transactions/savings Bear proof portfolio, good one. Life is short. Live passionately.
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Centum HY 2016 profit up 55% comprehensive income down 76%
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