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Centum pays out KSH 1 billion to employees
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target1360
#181 Posted : Monday, November 02, 2015 1:58:51 AM
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Location: nairobi
am not suggesting anything, but who is centrism main landlord?
I find satisfaction in owning great business,not trading them
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Ericsson
#182 Posted : Monday, November 02, 2015 8:02:17 AM
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Posts: 10,778
Location: NAIROBI
I mentioned in an earlier post in this topic the company will become a shell like uchumi;now the signs are starting to appear.Material suppliers haven't been paid.
The 38% stake of tow rivers owned by AVIC/CATIC;no money changed hands.Centum converted the amount of money they owed the contractor in unpaid dues to equity to settle the matter.
Contractor of Two Rivers Mall is CATIC whose parent company is AVIC.
Centum also has no room to borrow;debt is at limits and also the high interest rates have curtailed further borrowing
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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dunkang
#183 Posted : Monday, November 02, 2015 8:14:48 AM
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Joined: 6/2/2011
Posts: 4,818
Location: -1.2107, 36.8831
target1360 wrote:
am not suggesting anything, but who is centrism main landlord?

I know what you are talking about. And am not suggesting anything too.

Receive with simplicity everything that happens to you.” ― Rashi

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Impunity
#184 Posted : Monday, November 02, 2015 8:25:27 AM
Rank: Elder


Joined: 3/2/2009
Posts: 26,330
Location: Masada
Ericsson wrote:
I mentioned in an earlier post in this topic the company will become a shell like uchumi;now the signs are starting to appear.Material suppliers haven't been paid.
The 38% stake of tow rivers owned by AVIC/CATIC;no money changed hands.Centum converted the amount of money they owed the contractor in unpaid dues to equity to settle the matter.
Contractor of Two Rivers Mall is CATIC whose parent company is AVIC.
Centum also has no room to borrow;debt is at limits and also the high interest rates have curtailed further borrowing


Wh@T?

d'oh!
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Impunity
#185 Posted : Monday, November 02, 2015 8:30:23 AM
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Joined: 3/2/2009
Posts: 26,330
Location: Masada
muandiwambeu wrote:
[quote=Impunity]Which are the prime assets that Centum fully owns and which can be liquidated if shit hits the fan.[/quote:
^o and if it ever hit the fan @ impunity always know the distribution is never equal. dj will be spinning it half a world away, n the mc will be the cj. the tall pecking order and the anguish of hot air pockets revelation will be stunning. probably great hypothetical business plans or do i say.


Am outta this!
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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MaichBlack
#186 Posted : Monday, November 02, 2015 9:13:08 AM
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Joined: 7/22/2009
Posts: 7,570
Meanwhile, Centum employees are singing "A billi, a billi...".
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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MaichBlack
#187 Posted : Monday, November 02, 2015 9:19:45 AM
Rank: Elder


Joined: 7/22/2009
Posts: 7,570
Ericsson wrote:
I mentioned in an earlier post in this topic the company will become a shell like uchumi;now the signs are starting to appear.Material suppliers haven't been paid.
The 38% stake of tow rivers owned by AVIC/CATIC;no money changed hands.Centum converted the amount of money they owed the contractor in unpaid dues to equity to settle the matter.
Contractor of Two Rivers Mall is CATIC whose parent company is AVIC.
Centum also has no room to borrow;debt is at limits and also the high interest rates have curtailed further borrowing

38% stake gone?? Just like that. Don't be surprised if this was the plan all along or/and someone has some interest in AVIC/CATIC through some intricate Web of shareholding or AVIC/CATIC have yet another agreement with some obscure company to cede 50% of their 38% to them!!

Welcome to Nairobbery!!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Impunity
#188 Posted : Monday, November 02, 2015 9:49:11 AM
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Joined: 3/2/2009
Posts: 26,330
Location: Masada
MaichBlack wrote:
Meanwhile, Centum employees are singing "A billi, a billi...".


Some senior blue-wazuan warned us to keep off DJ's firms!
And we listened NOT!
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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mv_ufanisi
#189 Posted : Monday, November 02, 2015 10:02:32 AM
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Joined: 1/15/2010
Posts: 625
this company seemed like a great investment until the discovery of the employee bonus fiasco that means that the company is basically for employees not shareholders.
employees get 1 billion bonus this year, shareholders meanwhile are at -30% in 2015 so far. this compensation scheme was supposedly done to "align incentives" of employees and shareholders - the joke is on the shareholders.
the way the company is structured currently makes it vulnerable to one of those mega scandals which can wipe off shareholders value - as employees are incentivized to inflate asset values to earn huge bonuses.
the earnings of next year will also be likely much less than those of last year. there will be no sale of UAP at 5.2billion possible to get the profit figures to exceed the 7.2 billion which was reported last year.
it's going to be a great AGM to see unhappy shareholders being sold an exciting future by happy employees.
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Ericsson
#190 Posted : Monday, November 02, 2015 10:23:38 AM
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Joined: 12/4/2009
Posts: 10,778
Location: NAIROBI
@MaichBlack
AVIC/CATIC of the Chinese contractors normally shy away from that intricate web of Nairobbery.
In the JKIA Greenfields terminal the powers to be wanted to edge them out because they had refused to give mbuzi and hand over the ksh.56bn contract to Wu Yi who had deposited some mbuzi.
The then KAA managing director Eng Gichuki stood his ground and when the matter went to court;CATIC/Anhui Joint venture won the case.
So CATIC their contracts are normally clean
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#191 Posted : Monday, November 02, 2015 10:38:11 AM
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Joined: 1/3/2007
Posts: 18,224
Location: Nairobi
Ericsson wrote:
@MaichBlack
AVIC/CATIC of the Chinese contractors normally shy away from that intricate web of Nairobbery.
In the JKIA Greenfields terminal the powers to be wanted to edge them out because they had refused to give mbuzi and hand over the ksh.56bn contract to Wu Yi who had deposited some mbuzi.
The then KAA managing director Eng Gichuki stood his ground and when the matter went to court;CATIC/Anhui Joint venture won the case.
So CATIC their contracts are normally clean

What's the difference between CATIC and Wu Yi?
Aren't they siblings?
Who is Anhui?
Connection between AVIC & CATIC?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#192 Posted : Monday, November 02, 2015 10:40:36 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,224
Location: Nairobi
Why would James Mworia (& CK) have bought Centum shares in the 60s [or so he says] if he knew about the drama?
Naikuni/Mbugua stayed away from KQ shares coz they knew about the rot.

Mworia has much more to lose with his investment in Centum at the 60-ish entry price.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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target1360
#193 Posted : Monday, November 02, 2015 10:56:40 AM
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Joined: 5/14/2014
Posts: 289
Location: nairobi
VituVingiSana wrote:
Why would James Mworia (& CK) have bought Centum shares in the 60s [or so he says] if he knew about the drama?
Naikuni/Mbugua stayed away from KQ shares coz they knew about the rot.

Mworia has much more to lose with his investment in Centum at the 60-ish entry price.


maybe we should ask where the money to buy at sh 60 came from,just maybe
I find satisfaction in owning great business,not trading them
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target1360
#194 Posted : Monday, November 02, 2015 11:03:23 AM
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Joined: 5/14/2014
Posts: 289
Location: nairobi
MaichBlack wrote:
Ericsson wrote:
I mentioned in an earlier post in this topic the company will become a shell like uchumi;now the signs are starting to appear.Material suppliers haven't been paid.
The 38% stake of tow rivers owned by AVIC/CATIC;no money changed hands.Centum converted the amount of money they owed the contractor in unpaid dues to equity to settle the matter.
Contractor of Two Rivers Mall is CATIC whose parent company is AVIC.
Centum also has no room to borrow;debt is at limits and also the high interest rates have curtailed further borrowing

38% stake gone?? Just like that. Don't be surprised if this was the plan all along or/and someone has some interest in AVIC/CATIC through some intricate Web of shareholding or AVIC/CATIC have yet another agreement with some obscure company to cede 50% of their 38% to them!!

Welcome to Nairobbery!!!



so Centrum only owns 62% of the project!
I find satisfaction in owning great business,not trading them
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mv_ufanisi
#195 Posted : Monday, November 02, 2015 11:05:59 AM
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Joined: 1/15/2010
Posts: 625
target1360 wrote:
VituVingiSana wrote:
Why would James Mworia (& CK) have bought Centum shares in the 60s [or so he says] if he knew about the drama?
Naikuni/Mbugua stayed away from KQ shares coz they knew about the rot.

Mworia has much more to lose with his investment in Centum at the 60-ish entry price.


maybe we should ask where the money to buy at sh 60 came from,just maybe


Likely came from the bonus pool.

being a large shareholder and having board seats often means that you are likely to benefit from skewed company deals that other shareholders know nothing about.

remember the CMC guy Peter Muthoka and Andy Forwarder's deal? Andy Forwarders supposedly overcharged CMC by 1.5 billion because Peter was part of the board and could direct contracts to his company.

This is the kind of stuff ordinary shareholders never know about. Don't compare yourself with significant shareholders and insiders if you're not sure about the backroom board deals.
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Cornelius Vanderbilt
#196 Posted : Monday, November 02, 2015 11:07:39 AM
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Joined: 8/15/2015
Posts: 817
MaichBlack wrote:
Meanwhile, Centum employees are singing "A billi, a billi...".


lol.
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whiteowl
#197 Posted : Monday, November 02, 2015 11:09:10 AM
Rank: Veteran


Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
VituVingiSana wrote:
Why would James Mworia (& CK) have bought Centum shares in the 60s [or so he says] if he knew about the drama?
Naikuni/Mbugua stayed away from KQ shares coz they knew about the rot.

Mworia has much more to lose with his investment in Centum at the 60-ish entry price.


It's a smart way of insulating yourself from blame if the company goes down coz you've also have lost. Misery loves company. Remember the dj lost a lot of money when uchumi went down coz he had a significant shareholding? And I'm not saying Centum is going down so don't misquote my statement.
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VituVingiSana
#198 Posted : Monday, November 02, 2015 11:19:45 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,224
Location: Nairobi
mv_ufanisi wrote:
target1360 wrote:
VituVingiSana wrote:
Why would James Mworia (& CK) have bought Centum shares in the 60s [or so he says] if he knew about the drama?
Naikuni/Mbugua stayed away from KQ shares coz they knew about the rot.

Mworia has much more to lose with his investment in Centum at the 60-ish entry price.


maybe we should ask where the money to buy at sh 60 came from,just maybe


Likely came from the bonus pool.

being a large shareholder and having board seats often means that you are likely to benefit from skewed company deals that other shareholders know nothing about.

remember the CMC guy Peter Muthoka and Andy Forwarder's deal? Andy Forwarders supposedly overcharged CMC by 1.5 billion because Peter was part of the board and could direct contracts to his company.

This is the kind of stuff ordinary shareholders never know about. Don't compare yourself with significant shareholders and insiders if you're not sure about the backroom board deals.

Peter Muthoka had voting clout [20% or so shareholding] on the board. His 'loss' on his 20% was adequately covered by the shady deals.
The guy with the most to lose in Centum is CK with 25-30% if anyone else does anything fishy.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#199 Posted : Monday, November 02, 2015 11:22:42 AM
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Joined: 12/4/2009
Posts: 10,778
Location: NAIROBI
@target1360
Centum owns 58% of the project.An additional 4% was bought by ICDC.

@VituVingiSana
The money most likely came from the bonus pool.That is pocket change to Mworia compared to his net worth and was to hoodwink other shareholders.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#200 Posted : Monday, November 02, 2015 11:42:13 AM
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Joined: 1/3/2007
Posts: 18,224
Location: Nairobi
Ericsson wrote:
@target1360
Centum owns 58% of the project.An additional 4% was bought by ICDC.

@VituVingiSana
The money most likely came from the bonus pool.That is pocket change to Mworia compared to his net worth and was to hoodwink other shareholders.

Laughing out loudly Laughing out loudly Laughing out loudly One day I hope to say 200mn is pocket change!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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