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Briatm, Britam, Britam sounds like sweet candy!
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Ericsson
#421 Posted : Monday, December 28, 2015 11:28:26 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
@Spikes ;
For the Cytonn and dande group read the affidavit that is subject of the court case.
For the underhand dealings of Benson Wairegi read the copy of the affidavit filed in court.
Which other allegation?
Wealth is built through a relatively simple equation
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Ericsson
#422 Posted : Monday, December 28, 2015 11:35:03 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
The dande group didn't steal money as alleged by Britam;they just moved with investors who had committed ksh.2bn of their money for BAAM to invest on their behalf
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Spikes
#423 Posted : Monday, December 28, 2015 11:36:35 AM
Rank: Elder


Joined: 9/20/2015
Posts: 2,811
Location: Mombasa
Thanks @Erricson for enlightenment to make me avoid being a victim of shafting.
John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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muganda
#424 Posted : Monday, December 28, 2015 2:12:57 PM
Rank: Elder


Joined: 9/15/2006
Posts: 3,905
Spikes wrote:
@Erricson quote your source of allegations.

Erricson should also quote his Interest in the matter. Issue was resolved and "exes" went their ways; but one party curiously keeps referring to the other d'oh!

Meanwhile Christmas is touching one Dawood Rawat
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Ericsson
#425 Posted : Monday, December 28, 2015 2:18:34 PM
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Joined: 12/4/2009
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@Muganda
I have no interest but just sharing info in the forum to avoid people in the forum from being shafted.
Wazua means to enlighten and that's the spirit.
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Ericsson
#426 Posted : Monday, December 28, 2015 2:22:46 PM
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Joined: 12/4/2009
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In the Insurance sector I am in CIC Group and Re-insurance Kenya Re
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Pesa Nane
#427 Posted : Monday, December 28, 2015 7:31:14 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
Ericsson wrote:
@VituVingiSana
And having issued a profit warning for FY2015 results things are tough for the company;
--The Dande group moved with ksh.2bn worth of business for the asset management when they formed Cytonn Investments which is doing quite well.
--Interest payments on the ksh.6bn corporate bond they issued last year.
--They now have two complete buildings in Upper hill with occupancy very low i.e Former Real insurance two buildings.When Real merged with Britam the operations were combined at Britam towers.
--BAAM has hired Kenneth kaniu to be the MD;he was formerly at STANLIB and very little is known about him in terms of track record.How he performs at BAAM is unknown.
--The old club/axis of Benson Wairegi,Jimnah Mbaru,Peter Munga and James Mwangi haven't groomed any successor to take over once Wairegi retires.Wairegi is currently 68 years.The old club have maintained a tight grip and little is known about potential successor because of underhand dealings on-going which they don't want to expose.
--The exposure to Equity for Britam is too heavy currently at 20% of total assets;Equity Bank is currently facing heavy scrutiny from CBK same as HFCK.


Anxious Eh?

Spikes wrote:
@Erricson quote your source of allegations.
Pesa Nane plans to be shilingi when he grows up.
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Ericsson
#428 Posted : Monday, December 28, 2015 7:58:38 PM
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Joined: 12/4/2009
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Location: NAIROBI
@ Pea Nane
This is in relation of under declaration of non-performing loans.
This
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Pesa Nane
#429 Posted : Wednesday, December 30, 2015 10:32:39 AM
Rank: Elder


Joined: 5/25/2012
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Sam_Kibs wrote:
Profit warning issued- Standard pg 16 Sweetener it is.


Business as usual for the bond holders
Shareholders Sad

Pesa Nane plans to be shilingi when he grows up.
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Aguytrying
#430 Posted : Wednesday, December 30, 2015 1:35:59 PM
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Joined: 7/11/2010
Posts: 5,040
Pesa Nane wrote:
Sam_Kibs wrote:
Profit warning issued- Standard pg 16 Sweetener it is.


Business as usual for the bond holders
Shareholders Sad



They can't afford to default the next thing is liquidation and severe loss in confidenc e of the company
The investor's chief problem - and even his worst enemy - is likely to be himself
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VituVingiSana
#431 Posted : Wednesday, December 30, 2015 4:25:07 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
Aguytrying wrote:
Pesa Nane wrote:
Sam_Kibs wrote:
Profit warning issued- Standard pg 16 Sweetener it is.


Business as usual for the bond holders
Shareholders Sad



They can't afford to default the next thing is liquidation and severe loss in confidenc e of the company

Exactly. Bonds rank higher than Ordinary Capital in the liquidation hierarchy. If a firm defaults on its bond payments... loans will be much harder to come by!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Realtreaty
#432 Posted : Wednesday, January 06, 2016 11:36:50 PM
Rank: Elder


Joined: 8/16/2011
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Sad Profit warning kitu gani? As a political investor I would term the profit warning as a score at Mauritian govt goal. They failed to sell or appoint a person or company to take over from D/Rawats. Now its time the Kenyan side take stock at even more cheaper rate. The Best Mauritian govt would do is to forego the Bramer case attached to monies in Britam as an investment by D/Rawat until they probe him and determine where he got his health. Politics is a two sided spear (Asseghai).
Dividends flat or 20cts.
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Realtreaty
#433 Posted : Wednesday, February 17, 2016 11:43:07 AM
Rank: Elder


Joined: 8/16/2011
Posts: 2,297
What are they waiting for?
The Results shall now tell us the Direction to move.
Why hasn't the Govt of Mauritius gone ahead with their threat to sell or be partneras a holding company in Britam?
I tend to think the Gurus are resolving these things in Temples and soon an out of court greement will resolve all with D/Rawat paying Govt taxes at agreeable rates.Pray Pray
Clarification on media reports linking Britam Kenya to Bramer Bank
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Realtreaty
#434 Posted : Monday, February 22, 2016 11:10:06 PM
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Joined: 8/16/2011
Posts: 2,297
pooling and pulling more cards!!!! smile smile

Britam eyes real estate to spur growth
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Realtreaty
#435 Posted : Monday, March 07, 2016 8:22:50 PM
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Joined: 8/16/2011
Posts: 2,297
A flat dividend will keep me smiling althrough till R/Dawats resolve their problems with Govt and the New Britam tower opens.This or next week are Britam weeks. Either Britam to precede Equity Bank.
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Realtreaty
#436 Posted : Tuesday, March 15, 2016 5:56:36 PM
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Joined: 8/16/2011
Posts: 2,297
smile FY 2015 coming anytime from now. The candy is still sweet. Waiting to here the resolve of Muritian govt and its citizen property in Kenya. We will also be aware when the tower will be completed.
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Spikes
#437 Posted : Tuesday, March 15, 2016 7:13:59 PM
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Joined: 9/20/2015
Posts: 2,811
Location: Mombasa
Realtreaty wrote:
smile FY 2015 coming anytime from now. The candy is still sweet. Waiting to here the resolve of Muritian govt and its citizen property in Kenya. We will also be aware when the tower will be completed.


As long as profit warning bounty is on its neck expect a further slide in Britam share price almost immediately after the FY2015 financial performance announcement. Equally, this stock is not immune from Mauritian tycoons' ponzi scheme controversy . Stop rallying a bitter candy!!!
John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Realtreaty
#438 Posted : Wednesday, March 16, 2016 3:41:30 PM
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Joined: 8/16/2011
Posts: 2,297
Spikes wrote:
Realtreaty wrote:
smile FY 2015 coming anytime from now. The candy is still sweet. Waiting to here the resolve of Muritian govt and its citizen property in Kenya. We will also be aware when the tower will be completed.


As long as profit warning bounty is on its neck expect a further slide in Britam share price almost immediately after the FY2015 financial performance announcement. Equally, this stock is not immune from Mauritian tycoons' ponzi scheme controversy . Stop rallying a bitter candy!!!

smile smile
We are most likely to get informed that the holding by Mauritian duo was bought by a partner share holders in Kenya in August to December. Today Britam directors and Chairman held a closed door meeting may be to discuss the results and setting date from today to coming Tuesday with Thursday, Friday and Saturday being most appealing. Pray They used the same cups meaning they will entice investors with a flat dividend and detailed report on the way forward-
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kiash
#439 Posted : Wednesday, March 16, 2016 5:37:58 PM
Rank: Veteran


Joined: 4/27/2010
Posts: 951
Location: Nyumbani
How come most companies are promising to go into real eastate , saw CIC too. I just wonder how will they fare since a company that has been in the same field is still making losses (Home Afrika) ama what don't they know in this field?
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Ericsson
#440 Posted : Wednesday, March 16, 2016 5:48:04 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
@kiash;
They are having biggest dreams.Real estate dream ended when the grand coalition mandate came into power.
This jubilee clowns have messed up the economy from where the Kibaki era left it by their grand corruption and theft;
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