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Housing Finance: HFCK a diamond in the rough
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obiero
#1871 Posted : Sunday, December 02, 2018 4:40:59 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,222
Location: nairobi
Ericsson wrote:
Gone and gone.
Frank Ireri finished the company

I think he actually built the company. The rate cap is what has been the unraveling of HF Group

KQ ABP 4.26
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rwitre
#1872 Posted : Sunday, December 02, 2018 4:59:48 PM
Rank: Member

Joined: 3/8/2018
Posts: 507
Location: Nairobi
Ericsson wrote:
Gone and gone.
Frank Ireri finished the company


The fellow is on the board of FTGH Sad
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obiero
#1873 Posted : Sunday, December 02, 2018 7:00:45 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,222
Location: nairobi
rwitre wrote:
Ericsson wrote:
Gone and gone.
Frank Ireri finished the company


The fellow is on the board of FTGH Sad

Currently in USA receiving specialized treatment

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lochaz-index
#1874 Posted : Wednesday, December 05, 2018 10:41:57 AM
Rank: Veteran

Joined: 9/18/2014
Posts: 1,127
HF hurtling towards the 2002 lows...joining the leading pack composed of kplc, NMG amongst others.
Quote:
Mortgage lender HF Group’s stock has fallen to a 15-yearlow at the NSE as the slide into losses weighs down on investor sentiment.

The stock closed at Sh4.76 on Tuesday, joining the list of firms such as Mumias and Uchumi that are trading below par value at the bourse. Its par value is Sh5, with 384.6 million issued shares.

This is the lowest the stock has fallen since January 2003, with the bank’s market capitalisation now standing at Sh1.83 billion, having gone down by more than half from Sh4 billion at the beginning of the year when the share was valued at Sh10.40.
The main purpose of the stock market is to make fools of as many people as possible.
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littledove
#1875 Posted : Tuesday, March 05, 2019 8:42:31 AM
Rank: Veteran

Joined: 7/1/2014
Posts: 927
Location: sky
https://www.businessdailyafrica.com/markets/marketnews/HF-cuts-prices-of-700-houses-by-a-third/3815534-5008922-r9nr7l/index.html
The tough economy saw Kenyans shun buying houses to concentrate on funding essential items such as purchase of food, catering for transport and paying school fees leaving them with a little to spare.
The situation was worsened by introduction of interest rate caps that saw lenders freeze lending to individuals deemed risky as well as dump long-term lending.

tough times for the diamond
There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
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obiero
#1876 Posted : Tuesday, March 05, 2019 10:31:38 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,222
Location: nairobi
littledove wrote:
https://www.businessdailyafrica.com/markets/marketnews/HF-cuts-prices-of-700-houses-by-a-third/3815534-5008922-r9nr7l/index.html
The tough economy saw Kenyans shun buying houses to concentrate on funding essential items such as purchase of food, catering for transport and paying school fees leaving them with a little to spare.
The situation was worsened by introduction of interest rate caps that saw lenders freeze lending to individuals deemed risky as well as dump long-term lending.

tough times for the diamond

Very tough times. I honestly don't know if they will recover soon

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obiero
#1877 Posted : Friday, May 03, 2019 8:36:43 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,222
Location: nairobi
1.57m shares traded today represents the highest volume in about 5 years

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VituVingiSana
#1878 Posted : Friday, May 03, 2019 9:05:50 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
There may be value for a mid-sized bank, looking to increase its book, buying HFCK but at a price that:

- has a discount for the "good" Loan Book (Due Diligence)
- has a discount for the collateral backing NPLs (Due Diligence)
- has an allowance for restructuring the payroll
- an allowance for re-training the staff
- an allowance to install a new/updated banking system

A sweetener to Britam (& other shareholders) may be a swap for shares rather than an outright purchase with clawbacks for any loans that are already provided for going to the "old" shareholders.

The buyer needs a clean book/bank unless there is a massive discount to the current stated BV.

I would like to see HF succeed even if as a part of another bank.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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murchr
#1879 Posted : Saturday, May 04, 2019 12:19:58 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
obiero wrote:
1.57m shares traded today represents the highest volume in about 5 years


Who bought?

Foreigner or local?
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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obiero
#1880 Posted : Saturday, May 04, 2019 5:57:21 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,222
Location: nairobi
murchr wrote:
obiero wrote:
1.57m shares traded today represents the highest volume in about 5 years


Who bought?

Foreigner or local?

Whichever way, it was pre planned.. An arms length transaction

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