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Centum FY2022 - FY2026
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watesh
#61 Posted : Tuesday, November 16, 2021 12:56:27 PM
Rank: Veteran

Joined: 8/10/2014
Posts: 992
Location: Kenya
Ericsson wrote:
watesh wrote:
Ericsson wrote:
https://www.kahawatungu.com/how-james-mworia-has-killed-centum-investment/

It's been circulating


My main concern here is the debt esp at TRDL. However, Mworia said they are looking for a buyer to sell a chunk of the company to and use the proceeds to pay off the debt in it. The debt there has become a wild animal that can't be tamed easily

Debts at CentumRe, in my understanding, was to bridge the gap between selling, collection and construction. If selling or collection slows down, they may have to funnel cash from marketable securities to pay off the debt.


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


7.5bn in fixed income securities (Govt and corporate bonds). They call them "marketable securities"
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maka
#62 Posted : Wednesday, November 17, 2021 12:56:47 AM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
watesh wrote:
Ericsson wrote:
watesh wrote:
Ericsson wrote:
https://www.kahawatungu.com/how-james-mworia-has-killed-centum-investment/

It's been circulating


My main concern here is the debt esp at TRDL. However, Mworia said they are looking for a buyer to sell a chunk of the company to and use the proceeds to pay off the debt in it. The debt there has become a wild animal that can't be tamed easily

Debts at CentumRe, in my understanding, was to bridge the gap between selling, collection and construction. If selling or collection slows down, they may have to funnel cash from marketable securities to pay off the debt.


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


7.5bn in fixed income securities (Govt and corporate bonds). They call them "marketable securities"



Shouldn't it be around 4.25 Bn?
possunt quia posse videntur
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watesh
#63 Posted : Wednesday, November 17, 2021 10:23:28 AM
Rank: Veteran

Joined: 8/10/2014
Posts: 992
Location: Kenya
maka wrote:
watesh wrote:
Ericsson wrote:
watesh wrote:
Ericsson wrote:
https://www.kahawatungu.com/how-james-mworia-has-killed-centum-investment/

It's been circulating


My main concern here is the debt esp at TRDL. However, Mworia said they are looking for a buyer to sell a chunk of the company to and use the proceeds to pay off the debt in it. The debt there has become a wild animal that can't be tamed easily

Debts at CentumRe, in my understanding, was to bridge the gap between selling, collection and construction. If selling or collection slows down, they may have to funnel cash from marketable securities to pay off the debt.


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


7.5bn in fixed income securities (Govt and corporate bonds). They call them "marketable securities"



Shouldn't it be around 4.25 Bn?


As per their reports year-end 31st March, Govt bonds (3.2bn), Corp bonds (2.2bn), Cash (1.6bn), Mutual Funds (0.5bn) and Equities (69mn)
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Ericsson
#64 Posted : Saturday, November 20, 2021 10:13:02 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Bricklane Research
@BricklaneCapita
Replying to
@mtucreativity @coldtusker and 12 others
I am sure some here might have an auditor, accountant or even better a forensic accountant. Try sending them Centum financials and let them give you their opinion. I would like to be best proved wrong.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#65 Posted : Saturday, November 20, 2021 10:14:19 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Bricklane Research
@BricklaneCapita
Replying to
@mtucreativity @coldtusker and 12 others
Take a look at Centum net earnings and it's operating cash flow. That's likely all you need. Just ask any accountant what happens to a company that makes more accounting profit than real cashflow constantly. It's easy to figure out it's running on debt.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#66 Posted : Saturday, November 20, 2021 10:15:24 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Bricklane Research
@BricklaneCapita
Replying to
@mtucreativity @coldtusker and 12 others
Centum NAV is made up of 90% fair value reserves a.k.a smoke and mirror. The NAV grew too fast due to aggressive fair value gains that ROE went to the dogs. It used to be a constant feature back in 2014-15 era. Today it's hardly ever mentioned.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#67 Posted : Tuesday, November 30, 2021 9:29:46 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Centum Investment company reports a loss of Kes.662.1mn in the first six months ended September 30 2021
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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watesh
#68 Posted : Tuesday, November 30, 2021 9:43:15 AM
Rank: Veteran

Joined: 8/10/2014
Posts: 992
Location: Kenya
Ericsson wrote:
Centum Investment company reports a loss of Kes.662.1mn in the first six months ended September 30 2021


Finance costs from TRDL and the other real estate portfolio eating up a lot of cash.....Out of 12 companies invested in, only 3 made a cash distribution.
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VituVingiSana
#69 Posted : Wednesday, December 01, 2021 11:51:10 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
watesh wrote:
Ericsson wrote:
Centum Investment company reports a loss of Kes.662.1mn in the first six months ended September 30 2021


Finance costs from TRDL and the other real estate portfolio eating up a lot of cash.....Out of 12 companies invested in, only 3 made a cash distribution.
More cash can be expected by March 2022 since some may pay after FY2021 results.

There was a turnaround from FY2021 with all the drama around COVID.
There was a FV Loss but that's a non-cash item and just reverses prior years FV Gains.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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xtina
#70 Posted : Wednesday, February 02, 2022 9:36:10 AM
Rank: Member

Joined: 6/26/2008
Posts: 399
Centum at 14 bob, looks very attractive. Dividends may also go back to 1 bob
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