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Kengen FY16
Rank: Chief Joined: 1/3/2007 Posts: 18,118 Location: Nairobi
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sparkly wrote:VituVingiSana wrote:http://www.businessdailyafrica.com/corporate/KenGen-sell-5pc-stake-South-Africa-pension-fund/539550-3824706-10xt67uz/index.html
Good news for KenGen the Company which needs this cash. On the other hand, folks bought Rights Shares at 6.55 [opportunity cost] months ago. No dividend. That 6.55 could have earned interest for those months but...
It would not have made sense for the Pension Fund nor KenGen to buy from the market. KenGen wanted the cash. The Pension Fund ends up with shares worth more i.e. better to give the cash to KenGen to fund the business rather than simply "transfer" cash.
The Pension Fund can always buy more shares [& is likely to do so] from the market. Not enough float in the market. They would have to buy out the 2,3,4 and 5th largest shareholders. Does KenGen need more cash? KenGen should enter into a Convertible Debt arrangement that eventually leads to PIC owning 10-25% of KenGen. It helps KenGen reduce its debt:equity ratio. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,701 Location: NAIROBI
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VituVingiSana wrote:sparkly wrote:VituVingiSana wrote:http://www.businessdailyafrica.com/corporate/KenGen-sell-5pc-stake-South-Africa-pension-fund/539550-3824706-10xt67uz/index.html
Good news for KenGen the Company which needs this cash. On the other hand, folks bought Rights Shares at 6.55 [opportunity cost] months ago. No dividend. That 6.55 could have earned interest for those months but...
It would not have made sense for the Pension Fund nor KenGen to buy from the market. KenGen wanted the cash. The Pension Fund ends up with shares worth more i.e. better to give the cash to KenGen to fund the business rather than simply "transfer" cash.
The Pension Fund can always buy more shares [& is likely to do so] from the market. Not enough float in the market. They would have to buy out the 2,3,4 and 5th largest shareholders. Does KenGen need more cash? KenGen should enter into a Convertible Debt arrangement that eventually leads to PIC owning 10-25% of KenGen. It helps KenGen reduce its debt:equity ratio. PIC is looking at maximising it's return because the money they have invested is pensioner's money. KENGEN wanted to achieve it's rights issue amount target and they've done that.Seems they were so much in need of the money. PIC may either increase it's stake or reduce in the coming future. As for convertible debt I don't think PIC has the muscle to fund the huge projects kengen is undertaking.That is why their projects its a G-G arrangement type. Convertible debt in an african context is a way of finishing or killing a company.There is no good case study to talk about Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Ericsson wrote:VituVingiSana wrote:sparkly wrote:VituVingiSana wrote:http://www.businessdailyafrica.com/corporate/KenGen-sell-5pc-stake-South-Africa-pension-fund/539550-3824706-10xt67uz/index.html
Good news for KenGen the Company which needs this cash. On the other hand, folks bought Rights Shares at 6.55 [opportunity cost] months ago. No dividend. That 6.55 could have earned interest for those months but...
It would not have made sense for the Pension Fund nor KenGen to buy from the market. KenGen wanted the cash. The Pension Fund ends up with shares worth more i.e. better to give the cash to KenGen to fund the business rather than simply "transfer" cash.
The Pension Fund can always buy more shares [& is likely to do so] from the market. Not enough float in the market. They would have to buy out the 2,3,4 and 5th largest shareholders. Does KenGen need more cash? KenGen should enter into a Convertible Debt arrangement that eventually leads to PIC owning 10-25% of KenGen. It helps KenGen reduce its debt:equity ratio. PIC is looking at maximising it's return because the money they have invested is pensioner's money. KENGEN wanted to achieve it's rights issue amount target and they've done that.Seems they were so much in need of the money. PIC may either increase it's stake or reduce in the coming future. As for convertible debt I don't think PIC has the muscle to fund the huge projects kengen is undertaking.That is why their projects its a G-G arrangement type. Convertible debt in an african context is a way of finishing or killing a company.There is no good case study to talk about Additionally the South Africans are bad strategic partners Life is short. Live passionately.
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Rank: Elder Joined: 12/4/2009 Posts: 10,701 Location: NAIROBI
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Kenya Electricity Generating Company Ltd (KenGen) has contracted a group led by Japanese industrial major Mitsubishi Corp to build a 140-MW geothermal power plant in Kenya (Olkaria V). Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,701 Location: NAIROBI
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KenGen has begun the search for the replacement of outgoing CEO Albert Mugo. The new CEO would assume office in August this year. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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The country’s largest power producing company, Kenya Electricity Generating (KenGen) Company has announced a 22 per cent drop in its half year profit before tax to Ksh 6.57 Billion compared to Ksh 8.4 billion posted in the same period in 2015. The huge drop was as a result of declined total revenue which fell to Ksh 17.739 billion from Ksh 20 Billion in 2015 on lower revenue from steam and commercial drilling services. possunt quia posse videntur
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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maka wrote:The country’s largest power producing company, Kenya Electricity Generating (KenGen) Company has announced a 22 per cent drop in its half year profit before tax to Ksh 6.57 Billion compared to Ksh 8.4 billion posted in the same period in 2015.
The huge drop was as a result of declined total revenue which fell to Ksh 17.739 billion from Ksh 20 Billion in 2015 on lower revenue from steam and commercial drilling services. HY EPS 0.74. Positive cash position as at reporting date 6.55B Massaging of profits for the rights in 2015 clear. There was no disclosure then that 1.6B of steam revenue was revenue in arrears Life is short. Live passionately.
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Rank: Member Joined: 3/9/2010 Posts: 320 Location: kenya
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sparkly wrote:maka wrote:The country’s largest power producing company, Kenya Electricity Generating (KenGen) Company has announced a 22 per cent drop in its half year profit before tax to Ksh 6.57 Billion compared to Ksh 8.4 billion posted in the same period in 2015.
The huge drop was as a result of declined total revenue which fell to Ksh 17.739 billion from Ksh 20 Billion in 2015 on lower revenue from steam and commercial drilling services. HY EPS 0.74. Positive cash position as at reporting date 6.55B Massaging of profits for the rights in 2015 clear. There was no disclosure then that 1.6B of steam revenue was revenue in arrears Can this counter be allowed to do what kplc are doing. And if so what happens to Kplc Work hard at your job and you can make a living. Work hard on yourself and you can make a fortune.
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Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa
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sparkly wrote:maka wrote:The country’s largest power producing company, Kenya Electricity Generating (KenGen) Company has announced a 22 per cent drop in its half year profit before tax to Ksh 6.57 Billion compared to Ksh 8.4 billion posted in the same period in 2015.
The huge drop was as a result of declined total revenue which fell to Ksh 17.739 billion from Ksh 20 Billion in 2015 on lower revenue from steam and commercial drilling services. HY EPS 0.74. Positive cash position as at reporting date 6.55B Massaging of profits for the rights in 2015 clear. There was no disclosure then that 1.6B of steam revenue was revenue in arrears Eti HY EPS of 0.74 ukwaju nkt! John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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cyruskulei wrote:sparkly wrote:maka wrote:The country’s largest power producing company, Kenya Electricity Generating (KenGen) Company has announced a 22 per cent drop in its half year profit before tax to Ksh 6.57 Billion compared to Ksh 8.4 billion posted in the same period in 2015.
The huge drop was as a result of declined total revenue which fell to Ksh 17.739 billion from Ksh 20 Billion in 2015 on lower revenue from steam and commercial drilling services. HY EPS 0.74. Positive cash position as at reporting date 6.55B Massaging of profits for the rights in 2015 clear. There was no disclosure then that 1.6B of steam revenue was revenue in arrears Can this counter be allowed to do what kplc are doing. And if so what happens to Kplc What is KPLC doing? Dumb money becomes dumb only when it listens to smart money
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Rank: Member Joined: 8/19/2015 Posts: 125
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Waiting Kengen @4 TO 5 BOB
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Rank: Veteran Joined: 8/28/2015 Posts: 1,247
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Sir invest wrote:Waiting Kengen @4 TO 5 BOB Me, at 2.5-3.5/=, arap mashamba scourage in an electioneering yet to get into the mainstream. Disastrous with drought raving the hydros this year. All times lows must be tested. @arrestdev are you still fetching some too.  ,Behold, a sower went forth to sow;....
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Rank: Veteran Joined: 8/28/2015 Posts: 1,247
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Sir invest wrote:Waiting Kengen @4 TO 5 BOB Me, at 2.5-3.5/=, arap mashamba scourage in an electioneering yet to get into the mainstream. Disastrous with drought raving the hydros this year. All times lows must be tested. @arrestdev are you still fetching some too. ,Behold, a sower went forth to sow;....
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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sparkly wrote:maka wrote:The country’s largest power producing company, Kenya Electricity Generating (KenGen) Company has announced a 22 per cent drop in its half year profit before tax to Ksh 6.57 Billion compared to Ksh 8.4 billion posted in the same period in 2015.
The huge drop was as a result of declined total revenue which fell to Ksh 17.739 billion from Ksh 20 Billion in 2015 on lower revenue from steam and commercial drilling services. HY EPS 0.74. Positive cash position as at reporting date 6.55B Massaging of profits for the rights in 2015 clear. There was no disclosure then that 1.6B of steam revenue was revenue in arrears Soarkly arent u pro kengen ama I have missed a post?
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Horton wrote:sparkly wrote:maka wrote:The country’s largest power producing company, Kenya Electricity Generating (KenGen) Company has announced a 22 per cent drop in its half year profit before tax to Ksh 6.57 Billion compared to Ksh 8.4 billion posted in the same period in 2015.
The huge drop was as a result of declined total revenue which fell to Ksh 17.739 billion from Ksh 20 Billion in 2015 on lower revenue from steam and commercial drilling services. HY EPS 0.74. Positive cash position as at reporting date 6.55B Massaging of profits for the rights in 2015 clear. There was no disclosure then that 1.6B of steam revenue was revenue in arrears Soarkly arent u pro kengen ama I haven missed a post? I am an investor in Kengen. 35% of my portfolio to be exact. I am happy with the positive cash position and that electricity revenue remains stable. Isn't it obvious that an exceptional item "steam revenue" was recognised in 2015 but the company didn't bother to disclose that part of the revenue was earned in arrears? Life is short. Live passionately.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Ebenyo wrote:bartum wrote:[quote=Pesa Nane]Bet is ON.
@vvs vs @sparkly
Startline: KK @13 vs Kengen @6
Finish date: 31 Dec 2017
Winner: Maximum % return including capital gains and paid up dividends
Winnings: Ksh. 12,000.00 Cash Money   Following closely[/quote Let the best wins.i will be following keenly. 2 months in: KK @ 12.80 (-1.5%)Kengen @ 6.55 (+9.2%)Life is short. Live passionately.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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@VVS say something. Thitima is taking off at the speed of an anxious rabbit. Life is short. Live passionately.
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Rank: Chief Joined: 1/3/2007 Posts: 18,118 Location: Nairobi
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sparkly wrote:@VVS say something. Thitima is taking off at the speed of an anxious rabbit. Marathon not a sprint [I have to admit that PIC coming in isn't something I expected coz I have never seen a Rights Issue "re-opened" after it has closed.] Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,701 Location: NAIROBI
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The groundbreaking ceremony of the Kengen's 158MW Olkaria V geothermal project is this Friday Construction to Cost Sh40 Billion Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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More and real good news. http://www.businessdaily...6448-yj9e6lz/index.html
Quote:
The US Trade and Development Agency, under the Power Africa initiative, on Thursday awarded $1.1 million (Sh113 million) to Nairobi-based Xago Africa and another $500,000 (Sh51 million) to the State-owned KenGen
Life is short. Live passionately.
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