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Tale of Transcentury CEO exit, Sh8b Debt
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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This company is really desperate. Do they have an exclusive agreement to import and use this machine? If not, any other tenderprenuer can import it and repair potholes. Life is short. Live passionately.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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VituVingiSana wrote:hisah wrote:Negative sentiment to blame for TransCentury stock price fallQuote:How else do you explain the fact that despite repeated assurances by the company’s chairman, Mr Zeph Mbugua, that TransCentury will pay bond holders on the due date, all have fallen on deaf years. What a funny piece of article  TCL PR machine should be auctioned. Their stage management is hopeless. Until they put it in writing, which by the way CMA has ordered them to do so, they should stop the media PR. Meanwhile the stock continues to print all time lows. What a load of BS in that article. If TCL can pay it off then say so... Me thinks Jaindi was given a brown envelope. Jaindi can hoodwink cane farmers but not Wazuans Life is short. Live passionately.
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Rank: Member Joined: 7/20/2012 Posts: 141
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sparkly wrote:VituVingiSana wrote:hisah wrote:Negative sentiment to blame for TransCentury stock price fallQuote:How else do you explain the fact that despite repeated assurances by the company’s chairman, Mr Zeph Mbugua, that TransCentury will pay bond holders on the due date, all have fallen on deaf years. What a funny piece of article TCL PR machine should be auctioned. Their stage management is hopeless. Until they put it in writing, which by the way CMA has ordered them to do so, they should stop the media PR. Meanwhile the stock continues to print all time lows. What a load of BS in that article. If TCL can pay it off then say so... Me thinks Jaindi was given a brown envelope. Jaindi can hoodwink cane farmers but not Wazuans Indeed, where on earth can they raise 8B within a month? Did anyone note the pothole technology? Is it part of the drumming up?
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Rank: Member Joined: 3/9/2012 Posts: 144
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Rank: Member Joined: 3/9/2012 Posts: 144
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Rank: Member Joined: 3/26/2012 Posts: 280
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Another gooof. Equipment worth 50m. When do you get ur ROI. In Africa it is not how fast a pothole is done. Govt/Contractors dont mind having ten guys sealing a 1metre pothole a whole day. Hope you have seen how the kanjo guys work by the roadside. 1 hr work 3 hours storros 2pm funga kazi. Nobody has ever complained. DOH
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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This is how TransCentury got roasted... 1. Energy - Lots of money to be made in generation, distribution sectors e.g. Geothermal PPP, coal plant, LNG plant, KP network expansion but sorry Kibaki is no longer in power. 2. Infrastructure - They bet huge on constructing structures and civil works for Tullow, Africa Oil etc but then oil prices collapsed and the explorers of the liquid black gold cut back on exploration budgets. TCL is a good example of Kenyan entrepreneurs who dared to dream big. To survive the current crisis, they need to change strategy urgently. They need a management with an eye for deals and competence to pull them through. They need their own Mworia or Dande. Life is short. Live passionately.
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Rank: Member Joined: 3/9/2012 Posts: 144
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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sparkly wrote:VituVingiSana wrote:hisah wrote:Negative sentiment to blame for TransCentury stock price fallQuote:How else do you explain the fact that despite repeated assurances by the company’s chairman, Mr Zeph Mbugua, that TransCentury will pay bond holders on the due date, all have fallen on deaf years. What a funny piece of article TCL PR machine should be auctioned. Their stage management is hopeless. Until they put it in writing, which by the way CMA has ordered them to do so, they should stop the media PR. Meanwhile the stock continues to print all time lows. What a load of BS in that article. If TCL can pay it off then say so... Me thinks Jaindi was given a brown envelope. Jaindi can hoodwink cane farmers but not Wazuans So this bond debacle is a conspiracy by foreigners to take over a local company?
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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@binti the CEO, Board and average workers may all do their work well but if the economic realities are against them, its all futile. The company has to change strategy or perish. For Example the dry cell battery is long dead, not even the most dedicated CEO, Board or staff can make Eveready thrive in that market. Kodak continued making film rolls in the era of digital cameras. Where are they now? S40 and S60 were revolutionary systems for Nokia, or so everybody throught until IOS and Android came about. Even the Oracle bought loads of Hathaway Berkshire believing in the cotton industry before realizing the folly and switching to insurance. For Trancentury, political patronage and the Oil & Gas play are out for now. There are debts to be paid, employees to be paid, shareholders' wealth to grow but no cash coming in. Should they diversify from strictly energy and infrastructure to say Finance, Real Estate, FMCCG? Should they diversify into other geographical markets e.g. South Sudan, Uganda, Tanzania, Zambia? I think these are questions the Board should look at. Life is short. Live passionately.
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Rank: Member Joined: 4/3/2008 Posts: 48
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sparkly wrote:This is how TransCentury got roasted...
1. Energy - Lots of money to be made in generation, distribution sectors e.g. Geothermal PPP, coal plant, LNG plant, KP network expansion but sorry Kibaki is no longer in power.
2. Infrastructure - They bet huge on constructing structures and civil works for Tullow, Africa Oil etc but then oil prices collapsed and the explorers of the liquid black gold cut back on exploration budgets.
TCL is a good example of Kenyan entrepreneurs who dared to dream big. To survive the current crisis, they need to change strategy urgently.
They need a management with an eye for deals and competence to pull them through.
They need their own Mworia or Dande. Agreed, they need to change strategy, very quickly. However, I'm not so sure that the current Transcentury Board knows how to do so. The ultimate responsibility for Company strategy lies with them; Transcentury needs to reinvent itself, and doing so requires bold moves, especially now as they face a crisis - but this doesn't seem to be on the Board's agenda. What is being projected to the public is indecision. How will they repay their massive debt? Being a public Company, keeping shareholders guessing is not a confidence building strategy! The timing of the road repair play by Avery is another telling factor. Is this how they intend to enter into the road building industry? By promoting pothole repair rather than sound building of roads? I'm sorry, but I cannot share their optimism. In addition to a turnaround manager at the helm, Transcentury needs a new Board - one with significantly bigger investment credentials than the current Board, one with international experience. It's sad that this home grown investment firm is stumbling so badly.
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Rank: Veteran Joined: 2/3/2010 Posts: 1,797 Location: Kenya
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ticktock..Bond holders will have to convert to equity..preferential..then board restructuring..new strategies I may be wrong..but then I could be right
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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digitek1 wrote: ticktock..Bond holders will have to convert to equity..preferential..then board restructuring..new strategies one man killed the manager and the watchman in eastleigh after losing all his money in a casino, I hope the nse will not be the next place to witness this incident "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:digitek1 wrote: ticktock..Bond holders will have to convert to equity..preferential..then board restructuring..new strategies one man killed the manager and the watchman in eastleigh after losing all his money in a casino, I hope the nse will not be the next place to witness this incident I once said this that time is coming when the shafted shall revenge with blood..in NSE and general business in Kenya. When it happens... Suicides may follow and then we shall have better business grounds! Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: New-farer Joined: 1/14/2016 Posts: 12 Location: here and there
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sparkly wrote:@binti the CEO, Board and average workers may all do their work well but if the economic realities are against them, its all futile. The company has to change strategy or perish. For Example the dry cell battery is long dead, not even the most dedicated CEO, Board or staff can make Eveready thrive in that market. Kodak continued making film rolls in the era of digital cameras. Where are they now? S40 and S60 were revolutionary systems for Nokia, or so everybody throught until IOS and Android came about. Even the Oracle bought loads of Hathaway Berkshire believing in the cotton industry before realizing the folly and switching to insurance. For Trancentury, political patronage and the Oil & Gas play are out for now. There are debts to be paid, employees to be paid, shareholders' wealth to grow but no cash coming in. Should they diversify from strictly energy and infrastructure to say Finance, Real Estate, FMCCG? Should they diversify into other geographical markets e.g. South Sudan, Uganda, Tanzania, Zambia? I think these are questions the Board should look at. please tell me more about mworia's dealings at centum. I have shares there and i want to know whether my investment is safe.
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Rank: Veteran Joined: 5/5/2011 Posts: 1,059
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 To Each His Own
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Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa
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Are you attempting to rally this crap? John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Spikes wrote:Are you attempting to rally this crap? The information is provided so that one avoids setting their own questions and answers and failing an exam.
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Cde Monomotapa wrote:Spikes wrote:Are you attempting to rally this crap? The information is provided so that one avoids setting their own questions and answers and failing an exam. Public relations exercise "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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The Bond will be restructured from the language provided. I expect some of the profitable assets will be sold to 3rd parties [cash paid to Bondholders] or transferred to the Bondholders. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Tale of Transcentury CEO exit, Sh8b Debt
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