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UNGA anyone?
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mukiha
#81 Posted : Tuesday, July 06, 2010 4:37:34 PM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
@the deal; It's been on a see-saw for some time now. I wouldn't worry too much about today's jump.
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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mukiha
#82 Posted : Tuesday, July 06, 2010 4:42:36 PM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
....see; it closed at 11.60
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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the deal
#83 Posted : Tuesday, July 06, 2010 4:51:54 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
mukiha wrote:
@the deal; It's been on a see-saw for some time now. I wouldn't worry too much about today's jump.

sawa sawa...
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mukiha
#84 Posted : Thursday, July 08, 2010 10:07:07 AM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
I have just sent out another small buy order for Unga @12. If it goes through, this counter will be 11.7% of my portfolio.

I started buying in mid-May and my average price is 12.22 [incl commissions].

Source of funds - profits taken from SCOM, MSC, EQTY.

NB; I did not liquidate the 3 above completely! I just took out the profit.
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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VituVingiSana
#85 Posted : Thursday, July 08, 2010 10:55:29 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
@mukiha - Based on the problems the wheat farmers claim in selling their produce... it seems Unga will do fine...

I have an interest in Unga as well coz the NAV is much higher (25+). The shares remain illiquid but let's hope for profits though they pay a nominal dividend coz of their huge short-term debt...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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youcan'tstopusnow
#86 Posted : Thursday, July 08, 2010 11:12:51 AM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
VVS, tell me more about Unga's debt
GOD BLESS YOUR LIFE
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VituVingiSana
#87 Posted : Thursday, July 08, 2010 11:23:24 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
youcan'tstopusnow wrote:
VVS, tell me more about Unga's debt


Unga buys grain & often borrows to buy the grain.

1) Since grain (maize + wheat) tends to have seasons i.e. not an all-year round crops, they need to buy during the harvest...

2) Unga also imports grain. These are imported in 'bulk' i.e. they buy the grain FOB then it is delivered to Mombasa (or thru border points) then to Nairobi & Nakuru. These grains are stored until milled & sold...

So you can see the short-term debts can balloon up until the end product (flour) is sold & cash collected...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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youcan'tstopusnow
#88 Posted : Thursday, July 08, 2010 11:28:07 AM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Thanks
GOD BLESS YOUR LIFE
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VituVingiSana
#89 Posted : Thursday, July 08, 2010 11:42:23 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
1H 2010-11 balance sheet is not detailed enough but there is 4bn in CA vs 2.1bn in CL. There is a cost to the CL though not shown in the P&L.

There is a danger of 'losses' due to KES & UGX currency depreciation vs US$ but I think it will be mitigated through lower duties/taxes.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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shauriyako
#90 Posted : Thursday, July 08, 2010 2:32:24 PM
Rank: New-farer

Joined: 6/17/2010
Posts: 71
Location: Kenya
@All

I know one or two guys who work for unga and from what I am told is unga did fine the just ended trading year. I am told their H2 was not a as good as H1 but they did well.
That said, I need to pose a question that I have asked elsewhere and never got answered. I got funds at my disposal that will ultimately end in this counter, KK, Mumias etal but I am jittery over the referendum thingy. Are my worries unfounded? MY HOLDING AT THE EXCHANGE WAS HALVED DURING THE POST ELECTION VIOLENCE!!! THATS WHERE I AM COMING FROM.
Though I am brave enough to continue investing I doubt I can handle a similar loss seeing that my modest holding constitutes much of my worth.
@Mukiha,@VV,@Deal,@Ucant,@Sheep,@qw and all input please.
When we wake up in the morning, we have two simple choices. Go back to sleep and dream, or wake up and chase those dreams. The choice is yours! .
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