Which marketable securities are this.
If it's in the NSE quotable securities,Centum exited.

Yes, I agree. In hindsight, it was a poor investment, but these happen. Someone who says they make "right" decisions all the time is likely a conman.

It is no longer a drag on the Balance Sheet after being provided for.

Akiira was also written down to a lower (not zero) value.

@watesh - Sales are key for any business and more so for real estate firms that hold inventory. CRE will have to release results by 31 Dec and I hope there is an investor presentation discussing sales.

Riverbank will be complete by Dec 2021. That means unsold units start costing Centum an "opportunity cost" as they remains empty or unsold. There may be a program to rent out the vacant units but that's not CRE's business model.

The realization process takes a minimum of 3 years in Kenya for such projects.

We should also not forget that major (most/majority )deals at Centum was done under the guidance and direction of CK, which is no more. This will affect the company, negatively, in deal making in the short team before the current Board and management get their own feet.

I was also concerned about the exposure though the nature of the letter to me seems to have terminology that reeks of sensationalism. i.e

"As you do your review, take note of the aggressive valuation of the (sur)real estate portfolio, that has allowed management to incur debt beyond the Company’s sustainable ability to repay."

This is the other piece I do not seem to understand.
"In your review, you will also discover that the Company’s investment model is not appropriate for a publicly-traded company where a large number of its shares are held by small scale investors."

I thought small scale investors are in the minority or am I missing something here? Also the Kevin Spacey part! Not sure if this is a real whistleblower letter or parody.

Also the piece about 'luck-driven' Vipingo sales