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Kenya Power - what's the latest?
Rank: Chief Joined: 1/3/2007 Posts: 18,095 Location: Nairobi
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Things are going well at KPLC https://www.standardmedi...h-400m-dues-for-projectsGreedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,671 Location: NAIROBI
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[quote=VituVingiSana]Things are going well at KPLC https://www.standardmedi...-400m-dues-for-projects[/quote] Contractors from North Rift demonstrating in Eldoret town. These people Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 8/29/2008 Posts: 571
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There are KPLC contractors here."these people" will start demonstrating in Nairobi soon.Cheers wazuans.
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Rank: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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[quote=VituVingiSana]Things are going well at KPLC https://www.standardmedi...-400m-dues-for-projects[/quote] Its good these guys are now coming out at the right time.When the cases have just began,they will do well to explain in court some of the dubious contracts they were awarded. Towards the goal of financial freedom
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Rank: Veteran Joined: 8/28/2015 Posts: 1,247
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Rank: Chief Joined: 1/3/2007 Posts: 18,095 Location: Nairobi
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I hope folks understood that I was being sarcastic!  After the payment drama with @sparkly [Safcom has made it harder to make payments using that method] and non-payment from @Obiero ... no more bets. Nevertheless, I wager that there is a LOT more rot in KPLC from the supply of poles, cables, conductors, etc that will far exceed the KES 400mn lost from the purchase of poor quality transformers! Then there are liabilities not recorded or acknowledged. As well as assets that could be missing. If a proper audit of all assets and liabilities is done, I expect a hit to the P&L and Balance Sheet. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,671 Location: NAIROBI
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VituVingiSana wrote: I hope folks understood that I was being sarcastic! After the payment drama with @sparkly [Safcom has made it harder to make payments using that method] and non-payment from @Obiero ... no more bets. Nevertheless, I wager that there is a LOT more rot in KPLC from the supply of poles, cables, conductors, etc that will far exceed the KES 400mn lost from the purchase of poor quality transformers! Then there are liabilities not recorded or acknowledged. As well as assets that could be missing. If a proper audit of all assets and liabilities is done, I expect a hit to the P&L and Balance Sheet. Profit will be there but the cashflow statement has received a serious hammering/battering Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 5/14/2014 Posts: 288 Location: nairobi
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Rank: Member Joined: 5/14/2014 Posts: 288 Location: nairobi
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target1360 wrote:moneydust wrote:mlennyma wrote:target1360 wrote:105 billion debt and Gava control isnot appealing to me.only reason one would buy this is for empire building and ego massage this theories of fear have denied people easy gains,someone is holding kplc bought at 18bob and here Iam only advising an exit of 12-14...is the debt apportioned to you when you make gains and exit? That's very true..too much of fear makes one a poor investor.I have staked my everything on this share. How can you be wrong with a monopoly,dealing in a precious commodity and beneficiary of govt grants. At this rock bottom prices really, where is the risk? Lets say the debt and government appointed management makes kplc an investment that is beyond my circle of competence. Good luck. My views remain. My apologies @ Moneydust I find satisfaction in owning great business,not trading them
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Rank: Member Joined: 5/14/2014 Posts: 288 Location: nairobi
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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maka wrote:muandiwambeu wrote:Angelica _ann wrote:[quote=VituVingiSana]KPLC lied to prez re: last mile says Standard. CEO is Tarus.
KPC drama in 1.2bn SCADA project. Former CEO Tanui. Current CEO Sang.
I continue to stay far away from from GoK owned, controlled or heavily influenced firms.
My sole exception is KenRe but I watch it carefully. Any sign of funny business and I cut and run.
Safaricom, despite GoK Treasury's 25%, is controlled by Vodafone (40%). That has saved the firm from being a cash cow for connected folks. Thieves, Thieves, Thieves ............ glad i bailed out I did call this a peny stock on fundamentals. Those who are looking to what was is and is to come should know the pay cheque is booked by allien bound for mars. Kplc will in less than three years declare unsurmountable shocks rivalling kqs 2014 or 2015. Do figure or Wait and see how shxt do hit the fan. Reminded me of this story... Kenya Power has taken loans worth Sh105 billion, as it accumulates debt to fund its large infrastructure projects. A breakdown of the loans in its 2016 financial statements shows that the company has been most aggressive in accumulating credit in the last three years, doubling its debt from the Sh53 billion it had at the end of June 2014. The loan uptake has seen interest rates emerge as one of the main risks for the company to watch out for... https://www.standardmedi...funds-for-mega-projects[/quote] It was written.... possunt quia posse videntur
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Rank: Elder Joined: 12/4/2009 Posts: 10,671 Location: NAIROBI
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maka wrote:maka wrote:muandiwambeu wrote:Angelica _ann wrote:[quote=VituVingiSana]KPLC lied to prez re: last mile says Standard. CEO is Tarus.
KPC drama in 1.2bn SCADA project. Former CEO Tanui. Current CEO Sang.
I continue to stay far away from from GoK owned, controlled or heavily influenced firms.
My sole exception is KenRe but I watch it carefully. Any sign of funny business and I cut and run.
Safaricom, despite GoK Treasury's 25%, is controlled by Vodafone (40%). That has saved the firm from being a cash cow for connected folks. Thieves, Thieves, Thieves ............ glad i bailed out I did call this a peny stock on fundamentals. Those who are looking to what was is and is to come should know the pay cheque is booked by allien bound for mars. Kplc will in less than three years declare unsurmountable shocks rivalling kqs 2014 or 2015. Do figure or Wait and see how shxt do hit the fan. Reminded me of this story... Kenya Power has taken loans worth Sh105 billion, as it accumulates debt to fund its large infrastructure projects. A breakdown of the loans in its 2016 financial statements shows that the company has been most aggressive in accumulating credit in the last three years, doubling its debt from the Sh53 billion it had at the end of June 2014. The loan uptake has seen interest rates emerge as one of the main risks for the company to watch out for... https://www.standardmedi...funds-for-mega-projects[/quote] It was written.... And that was the Jubilee manifesto Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 4/23/2014 Posts: 909
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Ericsson wrote:maka wrote:maka wrote:muandiwambeu wrote:Angelica _ann wrote:[quote=VituVingiSana]KPLC lied to prez re: last mile says Standard. CEO is Tarus.
KPC drama in 1.2bn SCADA project. Former CEO Tanui. Current CEO Sang.
I continue to stay far away from from GoK owned, controlled or heavily influenced firms.
My sole exception is KenRe but I watch it carefully. Any sign of funny business and I cut and run.
Safaricom, despite GoK Treasury's 25%, is controlled by Vodafone (40%). That has saved the firm from being a cash cow for connected folks. Thieves, Thieves, Thieves ............ glad i bailed out I did call this a peny stock on fundamentals. Those who are looking to what was is and is to come should know the pay cheque is booked by allien bound for mars. Kplc will in less than three years declare unsurmountable shocks rivalling kqs 2014 or 2015. Do figure or Wait and see how shxt do hit the fan. Reminded me of this story... Kenya Power has taken loans worth Sh105 billion, as it accumulates debt to fund its large infrastructure projects. A breakdown of the loans in its 2016 financial statements shows that the company has been most aggressive in accumulating credit in the last three years, doubling its debt from the Sh53 billion it had at the end of June 2014. The loan uptake has seen interest rates emerge as one of the main risks for the company to watch out for... https://www.standardmedi...funds-for-mega-projects[/quote] It was written.... And that was the Jubilee manifesto Tuombe aliyetuumba, atusaidie kuomba zaidi. Wengine watatulipia. “You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
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Rank: Veteran Joined: 4/23/2014 Posts: 909
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At this rate I wouldn't be surprised if it hits -1 bob.  “You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
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Rank: New-farer Joined: 3/9/2019 Posts: 16 Location: Nakuru
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HaMaina wrote:At this rate I wouldn't be surprised if it hits -1 bob. Come baby come,,,sub 1bob 
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Rank: Veteran Joined: 4/23/2014 Posts: 909
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EABL to stop use of Kenya Power in Sh22bn plan“You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
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Rank: Chief Joined: 1/3/2007 Posts: 18,095 Location: Nairobi
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I expect to see more of these stories though GoK may selfishly sabotage some projects through delays in licensing or other roadblocks. Williamson Tea put in another solar power array. Devki uses coal to fire its boilers. I think Mombasa Cement has a power plant and some wind turbines in Kilifi. Bamburi has a power plant which can burn garbage and tyres. 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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There must be a breakthrough in solar power capture and or storage. That's the only reason why a KShs 75B turnover firm would invest KShs 2.2B an year for 10 years to offset an item of operating costs. Life is short. Live passionately.
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Rank: Chief Joined: 1/3/2007 Posts: 18,095 Location: Nairobi
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sparkly wrote:There must be a breakthrough in solar power capture and or storage. That's the only reason why a KShs 75B turnover firm would invest KShs 2.2B an year for 10 years to offset an item of operating costs. An average of 2.2bn/year is significant but not overly huge for EABL assuming it is spread out over 10 years and it gets: - Annual savings will offset some of the 2.2bn. - Depreciation provides a tax shield. - Carbon credits? - Inflation (2.2bn in 2022 > 2.2bn in 2032) Finally, the 1H21 net turnover was 44.5bn (lower than pre-COVID 1H20) so FY21 is likely to be 80-85bn. 22% Gross Margin of 5bn = 1.1bn which covers 50% of the average CAPEX. 22% Gross Margin of 10bn = 2.2bn which covers 100% of the average CAPEX Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Interesting how a company can be looted and plundered right before our eyes... Very sad state of affairs at KP. possunt quia posse videntur
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