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Centum Full Year results 2017/2018
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Ebenyo
#161 Posted : Wednesday, May 22, 2019 6:35:29 AM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,997
Location: Kitale
VituVingiSana wrote:
Ebenyo wrote:
VituVingiSana wrote:
Ebenyo wrote:
Total. liabilities-45,391,000

Total equity-50,897,000

Debt to equity ratio-89%

From the Debt you should deduct the cash (and liquid assets) they have.


That means there is some sort of reliance on sidian bank which is loss making.
The amount you are saying is titled customer deposit which is 12,832,000.
kwani sidian bank only have 12m in deposits?

Customer Deposits are 12.8 BILLION.
From the 45bn you should deduct the portion at that attributable to bank deposits and bank borrowings given these are not obligations of Centum and Centum does not have direct access to these funds.
As an example: If HF goes under, then Britam loses its deposits at HF and the % of its portion of shareholders capital.

45bn - 12.8bn - 3.2bn = 29bn
* Deferred Income Tax may or may no be considered a liability for this calculation given it only mature if there is a taxable event.

There are other "Minority Shareholders" in the group so let's look at the D:E Ratio for the "Company" which is more representative.
Debt: 17.4bn
Equity: 48.7bn





I agree we deduct 12.8 billion from the 45 billion.Because it's for sidian.
But the indicated borrowings is not indicated whether it's for centum or sidian.
So the debt to equity ratio minus sidian baggage is 63%.
Towards the goal of financial freedom
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Ericsson
#162 Posted : Wednesday, May 22, 2019 7:03:33 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
@Ebenyo
The debate on the equity figure for centum is confusing.
The best thing is to wait for the financial results, look at the Profitability, cash flow and amount of debt.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ebenyo
#163 Posted : Wednesday, May 22, 2019 7:30:36 AM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,997
Location: Kitale
Ericsson wrote:
@Ebenyo
The debate on the equity figure for centum is confusing.
The best thing is to wait for the financial results, look at the Profitability, cash flow and amount of debt.



Laughing out loudly Laughing out loudly I suspect management is not open to shareholders here.Why confuse group results and subsidiary results?
I feel centum balance sheet is suspicious.
They took billions of debts to finance the two rivers.They forced longhorn to sell its head office so that they get the cash.
Towards the goal of financial freedom
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VituVingiSana
#164 Posted : Wednesday, May 22, 2019 7:32:02 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
Ebenyo wrote:
VituVingiSana wrote:
Ebenyo wrote:
VituVingiSana wrote:
Ebenyo wrote:
Total. liabilities-45,391,000

Total equity-50,897,000

Debt to equity ratio-89%

From the Debt you should deduct the cash (and liquid assets) they have.


That means there is some sort of reliance on sidian bank which is loss making.
The amount you are saying is titled customer deposit which is 12,832,000.
kwani sidian bank only have 12m in deposits?

Customer Deposits are 12.8 BILLION.
From the 45bn you should deduct the portion at that attributable to bank deposits and bank borrowings given these are not obligations of Centum and Centum does not have direct access to these funds.
As an example: If HF goes under, then Britam loses its deposits at HF and the % of its portion of shareholders capital.

45bn - 12.8bn - 3.2bn = 29bn
* Deferred Income Tax may or may no be considered a liability for this calculation given it only mature if there is a taxable event.

There are other "Minority Shareholders" in the group so let's look at the D:E Ratio for the "Company" which is more representative.
Debt: 17.4bn
Equity: 48.7bn

I agree we deduct 12.8 billion from the 45 billion.Because it's for sidian.
But the indicated borrowings is not indicated whether it's for centum or sidian.
So the debt to equity ratio minus sidian baggage is 63%.

Conglomerates are harder to analyze when you do not have the data for each firm/investment/subsidiary.
The information for Sidian is out there if you look for it. On Sidian's website. On Centum's website too.

I have been looking at Centum for a while but more so after the KK cash came in.
IMHO, it will have to partially impair (or fully) some assets eg Amu, Akiira, Sidian. It will face cashflow challenges given the slowdown in asset/property sales. Nevertheless, at current prices it is attractive for those who have the patience and ability to wait until things turn around.
If you are the jittery type. If you cannot wait. If you want quick returns. Then Centum is NOT for you.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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rwitre
#165 Posted : Wednesday, May 22, 2019 11:36:42 AM
Rank: Member


Joined: 3/8/2018
Posts: 507
Location: Nairobi
Stumbled on this on the interwebs "Centum in support of GoK and Business leaders will be launch an innovative app today #AjiryKeLaunch.

An app that will transform the informal sector and enable everyone including the youths to get access to job opportunities.

The #AjiryKeLaunch will be happening today"

Is they about to do a job hunting app? What is happening?
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rwitre
#166 Posted : Wednesday, May 22, 2019 4:11:05 PM
Rank: Member


Joined: 3/8/2018
Posts: 507
Location: Nairobi
rwitre wrote:
Stumbled on this on the interwebs "Centum in support of GoK and Business leaders will be launch an innovative app today #AjiryKeLaunch.

An app that will transform the informal sector and enable everyone including the youths to get access to job opportunities.

The #AjiryKeLaunch will be happening today"

Is they about to do a job hunting app? What is happening?



Quote:

Tribus TSG a subsidiary of Centum Investments PLC is set to launch an app called AJIRY. “AJIRY” is derived from Swahili Ajiri word that means Employ . The App will provide a platform for workers and employers to network and connect effortlessly. With this App, the employers will easily connect with workers for short term, contractual or one offs employment opportunities.

The one differential of AJIRY and other social networking platforms is; Ajiry has a rating system, referral and testimonial functionality section whereby workers will be rated by employers after a job has been completed. These features are aimed to motivate workers to deliver quality and create a reputation of excellence and trust on the platform.


Basically an AirBnB model, but for jobs.
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