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VituVingiSana		#2371 Posted : Saturday, June 09, 2018 1:39:13 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,350 Location: Nairobi		mozenrat wrote: Ericsson wrote: VituVingiSana wrote: Njunge wrote: VituVingiSana wrote: Mumias should be euthanized. It's too deep in the muck. A waste of Taxpayer funds. No need of pumping tax payers money. what the co. needs, which i have held for sometimes now, is a strategic investor who will inject kindu 20B majorly for sugarplant overhaul and cane development. It's still a very viable and profitable entity if handled well. As long as the taxpayer is off the hook. It's a pity that decisive action that is beneficial to the farmers and the country isn't being taken on account of petty politics. Same with Uchumi and NBK. But KQ is trying to be rescued using all corners. Look at the CS heading the ministry the parastatal falls and their political alignment. surely you cannot compare KQ to Mumias.. This is the first time KQ is being rescued.. How many billions in TaxPayer Cash have been poured into Mumias to rescue it? KQ was rescued by Brian Presbury in the 90s(?) after KLM stepped in with money and technical resources. Then came Naikuni and friends. I believe KQ has received more bailout funds than Mumias. Cheap GoK loans, forcing banks to accept a Debt Conversion, etc. Uchumi was turned around by Suresh Shah in the 80s/90s(?). Then came Kirubi's people. That said, both Mumias and KQ are leeches latched on to the taxpayer. KQ is important for Kenya but then exempt it (& extend it to other local airlines too) from certain taxes eg no VAT/levies/taxes on airplanes esp those used for foreign travel/flights, no taxes on fuel esp for foreign flights, etc ... Make it competitive vs ME carriers by offering tax breaks but NOT subsidies. Mumias is a tough one. It needs to be put into bankruptcy. And then a "New Mumias" formed that takes over the good assets without the liabilities. Find a strategic partner eg Omnicane to develop a business plan and pump in new cash. The current shareholders would be wiped out and the creditors would own "New Mumias" but the taxpayer should be off the hook. Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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Metch		#2372 Posted : Saturday, June 09, 2018 2:55:05 PM
Rank: Member Joined: 12/22/2015 Posts: 224 Location: Mombasa, Kenya		VituVingiSana wrote: mozenrat wrote: Ericsson wrote: VituVingiSana wrote: Njunge wrote: VituVingiSana wrote: Mumias should be euthanized. It's too deep in the muck. A waste of Taxpayer funds. No need of pumping tax payers money. what the co. needs, which i have held for sometimes now, is a strategic investor who will inject kindu 20B majorly for sugarplant overhaul and cane development. It's still a very viable and profitable entity if handled well. As long as the taxpayer is off the hook. It's a pity that decisive action that is beneficial to the farmers and the country isn't being taken on account of petty politics. Same with Uchumi and NBK. But KQ is trying to be rescued using all corners. Look at the CS heading the ministry the parastatal falls and their political alignment. surely you cannot compare KQ to Mumias.. This is the first time KQ is being rescued.. How many billions in TaxPayer Cash have been poured into Mumias to rescue it? KQ was rescued by Brian Presbury in the 90s(?) after KLM stepped in with money and technical resources. Then came Naikuni and friends. I believe KQ has received more bailout funds than Mumias. Cheap GoK loans, forcing banks to accept a Debt Conversion, etc. Uchumi was turned around by Suresh Shah in the 80s/90s(?). Then came Kirubi's people. That said, both Mumias and KQ are leeches latched on to the taxpayer. KQ is important for Kenya but then exempt it (& extend it to other local airlines too) from certain taxes eg no VAT/levies/taxes on airplanes esp those used for foreign travel/flights, no taxes on fuel esp for foreign flights, etc ... Make it competitive vs ME carriers by offering tax breaks but NOT subsidies. Mumias is a tough one. It needs to be put into bankruptcy. And then a "New Mumias" formed that takes over the good assets without the liabilities. Find a strategic partner eg Omnicane to develop a business plan and pump in new cash. The current shareholders would be wiped out and the creditors would own "New Mumias" but the taxpayer should be off the hook. Mumias needs a new purpose to exist. Perhaps another crop. I don't see the future in sugar milling Start!
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Ericsson		#2373 Posted : Saturday, June 09, 2018 3:33:16 PM
Rank: Elder Joined: 12/4/2009 Posts: 10,808 Location: NAIROBI		Metch wrote: VituVingiSana wrote: mozenrat wrote: Ericsson wrote: VituVingiSana wrote: Njunge wrote: VituVingiSana wrote: Mumias should be euthanized. It's too deep in the muck. A waste of Taxpayer funds. No need of pumping tax payers money. what the co. needs, which i have held for sometimes now, is a strategic investor who will inject kindu 20B majorly for sugarplant overhaul and cane development. It's still a very viable and profitable entity if handled well. As long as the taxpayer is off the hook. It's a pity that decisive action that is beneficial to the farmers and the country isn't being taken on account of petty politics. Same with Uchumi and NBK. But KQ is trying to be rescued using all corners. Look at the CS heading the ministry the parastatal falls and their political alignment. surely you cannot compare KQ to Mumias.. This is the first time KQ is being rescued.. How many billions in TaxPayer Cash have been poured into Mumias to rescue it? KQ was rescued by Brian Presbury in the 90s(?) after KLM stepped in with money and technical resources. Then came Naikuni and friends. I believe KQ has received more bailout funds than Mumias. Cheap GoK loans, forcing banks to accept a Debt Conversion, etc. Uchumi was turned around by Suresh Shah in the 80s/90s(?). Then came Kirubi's people. That said, both Mumias and KQ are leeches latched on to the taxpayer. KQ is important for Kenya but then exempt it (& extend it to other local airlines too) from certain taxes eg no VAT/levies/taxes on airplanes esp those used for foreign travel/flights, no taxes on fuel esp for foreign flights, etc ... Make it competitive vs ME carriers by offering tax breaks but NOT subsidies. Mumias is a tough one. It needs to be put into bankruptcy. And then a "New Mumias" formed that takes over the good assets without the liabilities. Find a strategic partner eg Omnicane to develop a business plan and pump in new cash. The current shareholders would be wiped out and the creditors would own "New Mumias" but the taxpayer should be off the hook. Mumias needs a new purpose to exist. Perhaps another crop. I don't see the future in sugar milling Utapigwa na thermos ya chai Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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Angelica _ann		#2374 Posted : Saturday, June 09, 2018 3:38:58 PM
Rank: Elder Joined: 12/7/2012 Posts: 11,935		Ericsson wrote: Metch wrote: VituVingiSana wrote: mozenrat wrote: Ericsson wrote: VituVingiSana wrote: Njunge wrote: VituVingiSana wrote: Mumias should be euthanized. It's too deep in the muck. A waste of Taxpayer funds. No need of pumping tax payers money. what the co. needs, which i have held for sometimes now, is a strategic investor who will inject kindu 20B majorly for sugarplant overhaul and cane development. It's still a very viable and profitable entity if handled well. As long as the taxpayer is off the hook. It's a pity that decisive action that is beneficial to the farmers and the country isn't being taken on account of petty politics. Same with Uchumi and NBK. But KQ is trying to be rescued using all corners. Look at the CS heading the ministry the parastatal falls and their political alignment. surely you cannot compare KQ to Mumias.. This is the first time KQ is being rescued.. How many billions in TaxPayer Cash have been poured into Mumias to rescue it? KQ was rescued by Brian Presbury in the 90s(?) after KLM stepped in with money and technical resources. Then came Naikuni and friends. I believe KQ has received more bailout funds than Mumias. Cheap GoK loans, forcing banks to accept a Debt Conversion, etc. Uchumi was turned around by Suresh Shah in the 80s/90s(?). Then came Kirubi's people. That said, both Mumias and KQ are leeches latched on to the taxpayer. KQ is important for Kenya but then exempt it (& extend it to other local airlines too) from certain taxes eg no VAT/levies/taxes on airplanes esp those used for foreign travel/flights, no taxes on fuel esp for foreign flights, etc ... Make it competitive vs ME carriers by offering tax breaks but NOT subsidies. Mumias is a tough one. It needs to be put into bankruptcy. And then a "New Mumias" formed that takes over the good assets without the liabilities. Find a strategic partner eg Omnicane to develop a business plan and pump in new cash. The current shareholders would be wiped out and the creditors would own "New Mumias" but the taxpayer should be off the hook. Mumias needs a new purpose to exist. Perhaps another crop. I don't see the future in sugar milling Utapigwa na thermos ya chai In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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HaMaina		#2375 Posted : Saturday, June 09, 2018 9:41:14 PM
Rank: Veteran Joined: 4/23/2014 Posts: 931		Ericsson wrote: Metch wrote: VituVingiSana wrote: mozenrat wrote: Ericsson wrote: VituVingiSana wrote: Njunge wrote: VituVingiSana wrote: Mumias should be euthanized. It's too deep in the muck. A waste of Taxpayer funds. No need of pumping tax payers money. what the co. needs, which i have held for sometimes now, is a strategic investor who will inject kindu 20B majorly for sugarplant overhaul and cane development. It's still a very viable and profitable entity if handled well. As long as the taxpayer is off the hook. It's a pity that decisive action that is beneficial to the farmers and the country isn't being taken on account of petty politics. Same with Uchumi and NBK. But KQ is trying to be rescued using all corners. Look at the CS heading the ministry the parastatal falls and their political alignment. surely you cannot compare KQ to Mumias.. This is the first time KQ is being rescued.. How many billions in TaxPayer Cash have been poured into Mumias to rescue it? KQ was rescued by Brian Presbury in the 90s(?) after KLM stepped in with money and technical resources. Then came Naikuni and friends. I believe KQ has received more bailout funds than Mumias. Cheap GoK loans, forcing banks to accept a Debt Conversion, etc. Uchumi was turned around by Suresh Shah in the 80s/90s(?). Then came Kirubi's people. That said, both Mumias and KQ are leeches latched on to the taxpayer. KQ is important for Kenya but then exempt it (& extend it to other local airlines too) from certain taxes eg no VAT/levies/taxes on airplanes esp those used for foreign travel/flights, no taxes on fuel esp for foreign flights, etc ... Make it competitive vs ME carriers by offering tax breaks but NOT subsidies. Mumias is a tough one. It needs to be put into bankruptcy. And then a "New Mumias" formed that takes over the good assets without the liabilities. Find a strategic partner eg Omnicane to develop a business plan and pump in new cash. The current shareholders would be wiped out and the creditors would own "New Mumias" but the taxpayer should be off the hook. Mumias needs a new purpose to exist. Perhaps another crop. I don't see the future in sugar milling Utapigwa na thermos ya chai Nice One today “You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
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sparkly		#2376 Posted : Monday, June 11, 2018 6:23:36 AM
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi		Ericsson wrote: Metch wrote: VituVingiSana wrote: mozenrat wrote: Ericsson wrote: VituVingiSana wrote: Njunge wrote: VituVingiSana wrote: Mumias should be euthanized. It's too deep in the muck. A waste of Taxpayer funds. No need of pumping tax payers money. what the co. needs, which i have held for sometimes now, is a strategic investor who will inject kindu 20B majorly for sugarplant overhaul and cane development. It's still a very viable and profitable entity if handled well. As long as the taxpayer is off the hook. It's a pity that decisive action that is beneficial to the farmers and the country isn't being taken on account of petty politics. Same with Uchumi and NBK. But KQ is trying to be rescued using all corners. Look at the CS heading the ministry the parastatal falls and their political alignment. surely you cannot compare KQ to Mumias.. This is the first time KQ is being rescued.. How many billions in TaxPayer Cash have been poured into Mumias to rescue it? KQ was rescued by Brian Presbury in the 90s(?) after KLM stepped in with money and technical resources. Then came Naikuni and friends. I believe KQ has received more bailout funds than Mumias. Cheap GoK loans, forcing banks to accept a Debt Conversion, etc. Uchumi was turned around by Suresh Shah in the 80s/90s(?). Then came Kirubi's people. That said, both Mumias and KQ are leeches latched on to the taxpayer. KQ is important for Kenya but then exempt it (& extend it to other local airlines too) from certain taxes eg no VAT/levies/taxes on airplanes esp those used for foreign travel/flights, no taxes on fuel esp for foreign flights, etc ... Make it competitive vs ME carriers by offering tax breaks but NOT subsidies. Mumias is a tough one. It needs to be put into bankruptcy. And then a "New Mumias" formed that takes over the good assets without the liabilities. Find a strategic partner eg Omnicane to develop a business plan and pump in new cash. The current shareholders would be wiped out and the creditors would own "New Mumias" but the taxpayer should be off the hook. Mumias needs a new purpose to exist. Perhaps another crop. I don't see the future in sugar milling Utapigwa na thermos ya chai Life is short. Live passionately.
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littledove		#2377 Posted : Thursday, June 14, 2018 8:52:48 AM
Rank: Veteran Joined: 7/1/2014 Posts: 927 Location: sky		war on sugar catels intensifies matiangi is doing a good job https://www.standardmedia.co.ke/article/2001284008/matiangi-seized-contraband-sugar-contain-mercury-copper A special multi agency team has been set up to specifically deal with the menace after it emerged the counterfeit goods were robbing Kenyans of millions of shillings and jobs. 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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VituVingiSana		#2378 Posted : Thursday, June 14, 2018 10:49:08 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,350 Location: Nairobi		littledove wrote: war on sugar catels intensifies matiangi is doing a good job https://www.standardmedia.co.ke/article/2001284008/matiangi-seized-contraband-sugar-contain-mercury-copper A special multi agency team has been set up to specifically deal with the menace after it emerged the counterfeit goods were robbing Kenyans of millions of shillings and jobs. Mumias is in ICU. Kenya (Taxpayer) is better off letting it die so there's a rebirth as a private entity based on commercial reasons for survival. Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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Realtreaty		#2379 Posted : Wednesday, June 20, 2018 7:05:38 PM
Rank: Elder Joined: 8/16/2011 Posts: 2,387		Can Mumias improve if its competitors are found trading on Contraband sugar? It seems West Kenya/ Butali Wahindi were trading on illicit sugar and must be heavily penalized with even closure. I never TRUST Indian business people As Ngilu said "Behind every Singh is another Singh" They (Indians) have even introduced Bed space in Kenya as they did in UAE Those Indians living in Parklands are actually crowded in bed spaces. Someone said the bed bug menace was as a result of Indians giving their workers used bedding after being infested with Bedbugs.
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jgithige		#2380 Posted : Thursday, June 21, 2018 2:16:37 PM
Rank: Member Joined: 7/10/2014 Posts: 145 Location: Nairobi		I have been buying sugar from our supermarkets giving priority to kenyan branded sugar thinking am promoting local millers and farmers . Kumbe i have been promoting tenderprenuers, barons and Brazilian farmers. Indeed truly we are a bandit economy. "Blowing out someone else candle won't make yours shine brighter"-Anonymous
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