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Kengen AGM 2016
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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At Kasarani today. Umati wa Watu! 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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Instead of asking questions and putting management to task, people are singing praises like Brazilian parrots. Me thinks that some question askers have been coached. Life is short. Live passionately.
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Rank: Chief Joined: 1/3/2007 Posts: 18,224 Location: Nairobi
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sparkly wrote:Instead of asking questions and putting management to task, people are singing praises like Brazilian parrots. Me thinks that some question askers have been coached. Is AKS there?  Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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VituVingiSana wrote:sparkly wrote:Instead of asking questions and putting management to task, people are singing praises like Brazilian parrots. Me thinks that some question askers have been coached. Is AKS there? Not seen him Life is short. Live passionately.
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Rank: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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pliz those that are their update us on every detail and resolutions. Hope mgt will guarantee us dividends next year. Towards the goal of financial freedom
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Ebenyo wrote:pliz those that are their update us on every detail and resolutions.
Hope mgt will guarantee us dividends next year. Management not committal on the dividend issue. They insist that earnings have been retained for a higher return going fwd. Life is short. Live passionately.
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Rank: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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sparkly wrote:Ebenyo wrote:pliz those that are their update us on every detail and resolutions.
Hope mgt will guarantee us dividends next year. Management not committal on the dividend issue. They insist that earnings have been retained for a higher return going fwd. That means we will have no dividends next year? Towards the goal of financial freedom
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Rank: Elder Joined: 12/4/2009 Posts: 10,778 Location: NAIROBI
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#Ebenyo Ya next year ngoja wakati ufike ndio ujue if dividends iko. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/7/2012 Posts: 11,921
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Next year is an election year, the my relative CFO must 'deliver' otherwise out!!! Poleni In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Ebenyo wrote:sparkly wrote:Ebenyo wrote:pliz those that are their update us on every detail and resolutions.
Hope mgt will guarantee us dividends next year. Management not committal on the dividend issue. They insist that earnings have been retained for a higher return going fwd. That means we will have no dividends next year? They promised Div this year then reneged. Dangerous precedent has been set. 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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Were you there? A shareholder by the name of Angela asked some heavy questions about corporate governance and CMA regulations Life is short. Live passionately.
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Rank: Elder Joined: 12/4/2009 Posts: 10,778 Location: NAIROBI
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Even KENGEN has been told to slow down on adding more power to the grid. The MD said that they are only doing the 140 MW Olkaria V in 2017. "Having secured funding of around $400 million (Sh 40 billion/ JYR 45.7 billion) from the Japan International Cooperation Agency (JICA), KenGen is set to break ground on the development of two 70 MW units for its Olkaria V geothermal power plant project. KenGen reports having already completed drilling and that electricity from the plants could be fed into the national grid as early as the end of 2018. The first plant is expected to start operation within the next 24 months, with the second to start around 6 months after that. KenGen is funding parts of the project using the company’s cash reserves. The overall investment for the 140 MW Olkaria V development is expected to be around $555 million (Sh 55.5 billion" 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:Even KENGEN has been told to slow down on adding more power to the grid.
The MD said that they are only doing the 140 MW Olkaria V in 2017.
Where did you get this info? I know for sure that Kengen is planning to add 2000MW in the next 3 years... Geothermal, wind, coal, LNG. Life is short. Live passionately.
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Rank: Member Joined: 9/11/2014 Posts: 228 Location: Nairobi
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After taking a lifetime to reach the current ~2xxx MW it will double in 3 years?
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Rank: Member Joined: 1/31/2007 Posts: 304
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sparkly wrote:Ericsson wrote:Even KENGEN has been told to slow down on adding more power to the grid.
The MD said that they are only doing the 140 MW Olkaria V in 2017.
Where did you get this info? I know for sure that Kengen is planning to add 2000MW in the next 3 years... Geothermal, wind, coal, LNG. That is impossible...even with a miracle this will still be hard,they just dont even have the money.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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moneydust wrote:sparkly wrote:Ericsson wrote:Even KENGEN has been told to slow down on adding more power to the grid.
The MD said that they are only doing the 140 MW Olkaria V in 2017.
Where did you get this info? I know for sure that Kengen is planning to add 2000MW in the next 3 years... Geothermal, wind, coal, LNG. That is impossible...even with a miracle this will still be hard,they just dont even have the money. My mentor and teacher (name undisclosed) told me there are three categories of people: 1. Those who say it can't be done; 2. Those who do it; 3. Those who wonder how it was done. ^Take a pick on the type that you are. Life is short. Live passionately.
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Rank: Member Joined: 1/31/2007 Posts: 304
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sparkly wrote:moneydust wrote:sparkly wrote:Ericsson wrote:Even KENGEN has been told to slow down on adding more power to the grid.
The MD said that they are only doing the 140 MW Olkaria V in 2017.
Where did you get this info? I know for sure that Kengen is planning to add 2000MW in the next 3 years... Geothermal, wind, coal, LNG. That is impossible...even with a miracle this will still be hard,they just dont even have the money. My mentor and teacher (name undisclosed) told me there are three categories of people: 1. Those who say it can't be done; 2. Those who do it; 3. Those who wonder how it was done. ^Take a pick on the type that you are. That is just alot of balooney...you cant be serious if you believe that.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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moneydust wrote:sparkly wrote:moneydust wrote:sparkly wrote:Ericsson wrote:Even KENGEN has been told to slow down on adding more power to the grid.
The MD said that they are only doing the 140 MW Olkaria V in 2017.
Where did you get this info? I know for sure that Kengen is planning to add 2000MW in the next 3 years... Geothermal, wind, coal, LNG. That is impossible...even with a miracle this will still be hard,they just dont even have the money. My mentor and teacher (name undisclosed) told me there are three categories of people: 1. Those who say it can't be done; 2. Those who do it; 3. Those who wonder how it was done. ^Take a pick on the type that you are. That is just alot of balooney...you cant be serious if you believe that. Some countries have over 1,000GW installed capacity and you think 2,000MW is a big deal. Life is short. Live passionately.
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Rank: Member Joined: 9/11/2014 Posts: 228 Location: Nairobi
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For those countries, 2GW (0.2%) is not a big deal but for Kenya, >90% is definitely a BIG deal to add in 3 years.
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Rank: Chief Joined: 1/3/2007 Posts: 18,224 Location: Nairobi
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Well, while @Sparkly is quoting simplistic quotes... http://www.businessdaily...8662-68tbetz/index.html
KenGen breaches conditions for Sh18.5bn long-term loans http://www.businessdaily...8662-68tbetz/index.html
Well, I guess it is true... It can be done. Breaching the conditions/covenants of the loans that is. As for those who wonder how it was done? Well, it can be done if one borrows away... No, KenGen by virtue of its majority shareholder is not investable for me. BTW, this also explains why there was no dividend this year. *That said, before someone mentions it again... I own KenRe for reasons explained elsewhere but I watch it closely* Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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