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Uchumi - A value play?
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Aguytrying
#111 Posted : Wednesday, June 17, 2015 9:23:25 AM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
Interestingly ^^ those firms form a large portion of stocks I hope to own when the valuations are right. In any stock market and more so in Kenya(with the rampant corruption) a reputable management is invaluable.
The investor's chief problem - and even his worst enemy - is likely to be himself
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Gatheuzi
#112 Posted : Monday, June 22, 2015 7:30:57 AM
Rank: Veteran

Joined: 8/16/2009
Posts: 994
Uchumi secures 500M to pay suppliers claims oustanding for more than 90 days. What I found interesting is that even with sale of 2B in assets, it is just the remainder of suppliers with over 90days claims that will be paid. So not everyone gets paid and no cash balance for working capital. Factor in the rent of the sold properties and you will see where we are headed....another rights issue...

nation wrote:
“We have obtained Sh500 million funding from our bankers which is available to pay part of the debt as we finalise the disposal of non-core assets worth over Sh2 billion to pay the remainder of the debt over 90 days old,” said Ms Mire.


http://mobile.nation.co..../-/12eogf8z/-/index.html
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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  | | Edit by user: Monday, June 22, 2015 7:52 AM | Reason: Not specified
newfarer
#113 Posted : Monday, June 22, 2015 7:56:22 AM
Rank: Elder

Joined: 3/19/2010
Posts: 3,505
Location: Uganda
Gatheuzi wrote:
Uchumi secures 500M to pay suppliers claims oustanding for more than 90 days. What I found interesting is that even with sale of 2B in assets, it is just the remainder of suppliers with over 90days claims that will be paid. So not everyone gets paid and no cash balance for working capital. Factor in the rent of the sold properties and you will see where we are headed....another rights issue...

[quote=nation]“We have obtained Sh500 million funding from our bankers which is available to pay part of the debt as we finalise the disposal of non-core assets worth over Sh2 billion to pay the remainder of the debt over 90 days old,” said Ms Mire.


http://mobile.nation.co....-/12eogf8z/-/index.html[/quote]
The bottomless pit. Greed.
punda amecheka
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MaichBlack
#114 Posted : Monday, June 22, 2015 8:55:23 AM
Rank: Elder

Joined: 7/22/2009
Posts: 7,836
Where did they take all the other loan money (recent loans amount to almost one billion) and rights money????

That is the billion dollar question!!!
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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Mart_Consult
#115 Posted : Monday, June 22, 2015 8:59:17 AM
Rank: Member

Joined: 11/7/2013
Posts: 127
Location: Nairobi, Kenya
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:
Gordon Gekko wrote:
@obiero, I think that's a sad statement you've made. Immoral staff are immoral because they know they can be so and get away with it. If there's a CEO who can't condone staff immorality and comes down on the affected staff like a ton of bricks, then the staff watanyoroka haraka sana.
To be fair to Ngunze, I suspect the union and pilots association are so entrenched that staff can do whatever and get away with it - ditto Kenya Ports, Teachers. So how do you fix it? The politicians can, but they are feeding on lease payments from the SPVs so wouldn't upset the gravy train.

U seem to understand the issue perfectly. Naikuni sacked the known immoral lazy buggers but they came back and rumor says they even visited his office to tell him they will never be fired! Government jobs or gava linked firms struggle wit this issue alot, ua junior can give u orders! Mtoto wa so and so.. A CFO with a salary of 85k and KES 200million in the bank! Strange things..
Which is why it makes sense to avoid such firms if you cannot trust the Board or Management.

Its unavoidable in Kenya. The NSE is awash with government linked firms.. Almost 30% if I can hazard a guess

Which means there are 70% that are not GoK linked so how is avoiding GoK-linked firms unavoidable?

Here are a few good firms [I am discussing the firms not the share price or outlook] with zero or insignificant government links.

BAT
EABL
BBK
SCBK
Williamson
Kapchorua
Kakuzi
Equity
I&M
NIC
DTB


...Jubilee, TPS Serena
I went into the (Ferry) industry knowing the same thing I knew with all other businesses I went into- Nothing. Then I built it from there. - Sheldon Adelson (Titans at the Table- Giants of Macau)
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Aguytrying
#116 Posted : Monday, June 22, 2015 1:42:34 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
I've decided that whenever I can outsmart the management of a company, I stat away from their shares. eg uchumi. I asked here. why do a rights issue to increase the branch network when the ones you have are underpeforming for obvious reasons. I can't be cleverer than a board so they must be lying or mischievous
The investor's chief problem - and even his worst enemy - is likely to be himself
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  | | Edit by user: Monday, June 22, 2015 5:07 PM | Reason: Not specified
mlennyma
#117 Posted : Monday, June 22, 2015 1:47:25 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
This pple will work for rent and banks,the balance will pay salaries.
"Don't let the fear of losing be greater than the excitement of winning."
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  | | Edit by user: Monday, June 22, 2015 1:49 PM | Reason: Not specified
mkonomtupu
#118 Posted : Monday, June 22, 2015 3:06:29 PM
Rank: Veteran

Joined: 2/10/2010
Posts: 1,001
Location: River Road
Aguytrying wrote:
I've decided that whenever I can outsmart the management of a company, I stat away from their shares. eg uchumi. I asked here. why do a rights issue to increase the branch network when the ones you have are underpeforming for obvious reasons. I can't be cleverer than a board so they must be lying or mischievous


Then of course there are corporate raiders and if you have no white knight to save youNot talking Not talking
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mkonomtupu
#119 Posted : Monday, June 22, 2015 3:51:39 PM
Rank: Veteran

Joined: 2/10/2010
Posts: 1,001
Location: River Road
Gatheuzi wrote:
Uchumi secures 500M to pay suppliers claims oustanding for more than 90 days. What I found interesting is that even with sale of 2B in assets, it is just the remainder of suppliers with over 90days claims that will be paid. So not everyone gets paid and no cash balance for working capital. Factor in the rent of the sold properties and you will see where we are headed....another rights issue...

[quote=nation]“We have obtained Sh500 million funding from our bankers which is available to pay part of the debt as we finalise the disposal of non-core assets worth over Sh2 billion to pay the remainder of the debt over 90 days old,” said Ms Mire.


http://mobile.nation.co....-/12eogf8z/-/index.html[/quote]

This kind of reminds me of Carl Icahn with his hostile takeover of TWA Airlines and the asset stripping he did over there selling the assets individually to repay the debt assimilated during the takeover. Pray Pray Pray

http://www.nytimes.com/1...we-re-at-crossroads.html
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Othelo
#120 Posted : Wednesday, June 24, 2015 2:58:35 PM
Rank: User

Joined: 1/20/2014
Posts: 3,528
http://www.businessdaily...0/-/hm63cv/-/index.html
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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