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Safaricom Investment Company - IFRS Impact on FY2019

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Ericsson		#11 Posted : Thursday, February 06, 2020 5:12:14 PM
Rank: Elder Joined: 12/4/2009 Posts: 10,820 Location: NAIROBI		RIEK01 wrote: There was a change in management in Feb 19, they should be looked at with more scrutiny. The previous management made their money and left Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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murchr		#12 Posted : Thursday, February 06, 2020 5:26:41 PM
Rank: Elder Joined: 2/26/2012 Posts: 15,980		maina20 wrote: murchr wrote: I see the big hole in sale of land and housing. Plus what's with the hike in internet expenses? The Property market is currently low, even Prism Towers are yet to get a tenant -one year down the line. Harambee sacco is also struggling to dispose land on target profit margins - https://www.businessdail...44024-c8enawz/index.html I agree, a change in reporting standards is not a scape goat for market reality... Everything else seems to be normal apart from sale of land and housing. The economy is hurting everyone "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
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Ericsson		#13 Posted : Saturday, February 08, 2020 3:59:40 PM
Rank: Elder Joined: 12/4/2009 Posts: 10,820 Location: NAIROBI		murchr wrote: maina20 wrote: murchr wrote: I see the big hole in sale of land and housing. Plus what's with the hike in internet expenses? The Property market is currently low, even Prism Towers are yet to get a tenant -one year down the line. Harambee sacco is also struggling to dispose land on target profit margins - https://www.businessdail...44024-c8enawz/index.html I agree, a change in reporting standards is not a scape goat for market reality... Everything else seems to be normal apart from sale of land and housing. The economy is hurting everyone So it needs skill and skin to avoid being burnt Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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murchr		#14 Posted : Saturday, February 08, 2020 5:21:15 PM
Rank: Elder Joined: 2/26/2012 Posts: 15,980		Who is attending the meeting? Admin move this tgread to the appropriate section "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
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tkzee		#15 Posted : Monday, February 10, 2020 11:26:51 AM
Rank: Member Joined: 7/13/2010 Posts: 160 Location: rift Valley-Naks		maina20 wrote: Just received the Financial reports for SIC-FY2019...how can change in reporting swallow ksh500 Million Operating profit? https://gallery.mailchim...ancial_Accounts_2019.pdf Looks like the revenue recognition was not proper.Revenue was previously recognised when customer made a deposit.Currently,recognition is done once the selling process is completed. I would say IAS 18 was not very clear on revenue recognition hence for room for manupulation. ''i can calculate the motion of heavenly bodies,but not the madness of people''-Isaac Newton
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maina20		#16 Posted : Monday, February 10, 2020 11:44:33 AM
Rank: Member Joined: 7/21/2010 Posts: 249 Location: nairobi		tkzee wrote: maina20 wrote: Just received the Financial reports for SIC-FY2019...how can change in reporting swallow ksh500 Million Operating profit? https://gallery.mailchim...ancial_Accounts_2019.pdf Looks like the revenue recognition was not proper.Revenue was previously recognised when customer made a deposit.Currently,recognition is done once the selling process is completed. I would say IAS 18 was not very clear on revenue recognition hence for room for manupulation. https://www.businessdail...449468-frc18h/index.html ..desire to succeed is always fighting with fear of failure..
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Mukiri		#17 Posted : Thursday, February 13, 2020 3:59:48 AM
Rank: Elder Joined: 7/11/2012 Posts: 5,222		Ericsson wrote: murchr wrote: maina20 wrote: murchr wrote: I see the big hole in sale of land and housing. Plus what's with the hike in internet expenses? The Property market is currently low, even Prism Towers are yet to get a tenant -one year down the line. Harambee sacco is also struggling to dispose land on target profit margins - https://www.businessdail...44024-c8enawz/index.html I agree, a change in reporting standards is not a scape goat for market reality... Everything else seems to be normal apart from sale of land and housing. The economy is hurting everyone So it needs skill and skin to avoid being burnt Diversification IMO They should get into the business of drilling boreholes... and start with the properties they've sold. My thinking is, if people made use of the idle land they bought, they'd have money to buy more property and/or shares. When the land is dry, the pockets are dry, income and dividends dry Proverbs 19:21
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