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KenGen HY 2019
Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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sparkly wrote:murchr wrote:We need serious activist investors at the NSE. a President shouldn't hold private investors at ransom due to his incapability to perform his duty. How long will this stalemate continue?
Just think about how this looks to foreign investors? Will they have confidence to invest in local/partially owned govt stocks? Uhuru is a total failure Omtata sued already. Kengen Board should just stand up to the incompetent Uhuru and announce a dividend. Someone will go to court and declare it unconstitutional. On the other hand kengen is using that money to be paid as dividend for other activities Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 2/20/2015 Posts: 467 Location: Nairobi
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Ericsson wrote:sparkly wrote:murchr wrote:We need serious activist investors at the NSE. a President shouldn't hold private investors at ransom due to his incapability to perform his duty. How long will this stalemate continue?
Just think about how this looks to foreign investors? Will they have confidence to invest in local/partially owned govt stocks? Uhuru is a total failure Omtata sued already. Kengen Board should just stand up to the incompetent Uhuru and announce a dividend. Someone will go to court and declare it unconstitutional. On the other hand kengen is using that money to be paid as dividend for other activities ' other activities' like handing over to the GoK cash in bank together with other parastatals.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Ericsson wrote:sparkly wrote:murchr wrote:We need serious activist investors at the NSE. a President shouldn't hold private investors at ransom due to his incapability to perform his duty. How long will this stalemate continue?
Just think about how this looks to foreign investors? Will they have confidence to invest in local/partially owned govt stocks? Uhuru is a total failure Omtata sued already. Kengen Board should just stand up to the incompetent Uhuru and announce a dividend. Someone will go to court and
declare it unconstitutional.On the other hand kengen is using that money to be paid as dividend for other activities Declaration of dividend is not a constitutional issue. Life is short. Live passionately.
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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sparkly wrote:Ericsson wrote:sparkly wrote:murchr wrote:We need serious activist investors at the NSE. a President shouldn't hold private investors at ransom due to his incapability to perform his duty. How long will this stalemate continue?
Just think about how this looks to foreign investors? Will they have confidence to invest in local/partially owned govt stocks? Uhuru is a total failure Omtata sued already. Kengen Board should just stand up to the incompetent Uhuru and announce a dividend. Someone will go to court and
declare it unconstitutional.On the other hand kengen is using that money to be paid as dividend for other activities Declaration of dividend is not a constitutional issue.  KenGen's Board (with the backing of GoK as 70% shareholder) can decide not to pay a dividend for FY19 and that's the end of the story whether or not there is Auditor General. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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VituVingiSana wrote:sparkly wrote:Ericsson wrote:sparkly wrote:murchr wrote:We need serious activist investors at the NSE. a President shouldn't hold private investors at ransom due to his incapability to perform his duty. How long will this stalemate continue?
Just think about how this looks to foreign investors? Will they have confidence to invest in local/partially owned govt stocks? Uhuru is a total failure Omtata sued already. Kengen Board should just stand up to the incompetent Uhuru and announce a dividend. Someone will go to court and
declare it unconstitutional.On the other hand kengen is using that money to be paid as dividend for other activities Declaration of dividend is not a constitutional issue. KenGen's Board (with the backing of GoK as 70% shareholder) can decide not to pay a dividend for FY19 and that's the end of the story whether or not there is Auditor General. And that would still be ok, but the incompetence of a President should not be given as a reason why dividend payments were not made if i read their statement correctly,the lack of the attorney general was the reason given in this case. "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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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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murchr wrote:VituVingiSana wrote:sparkly wrote:Ericsson wrote:sparkly wrote:murchr wrote:We need serious activist investors at the NSE. a President shouldn't hold private investors at ransom due to his incapability to perform his duty. How long will this stalemate continue?
Just think about how this looks to foreign investors? Will they have confidence to invest in local/partially owned govt stocks? Uhuru is a total failure Omtata sued already. Kengen Board should just stand up to the incompetent Uhuru and announce a dividend. Someone will go to court and
declare it unconstitutional.On the other hand kengen is using that money to be paid as dividend for other activities Declaration of dividend is not a constitutional issue. KenGen's Board (with the backing of GoK as 70% shareholder) can decide not to pay a dividend for FY19 and that's the end of the story whether or not there is Auditor General. And that would still be ok, but the incompetence of a President should not be given as a reason why dividend payments were not made if i read their statement correctly,the lack of the attorney general was the reason given in this case. If an AG isn't appointed soon then s/he will have a lot of work to do especially auditing government entities for FY19 and FY20. The advantage for KenGen is that the FY19 auditing has been done by EY/PWC/DT and just needs review and a sign off not a complete audit. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 7/22/2008 Posts: 2,703
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Has anyone considered the fact that the lack of an Auditor General may be a deliberate to enable some accounting gymnastics by government.
At some point Government asked all state organizations to surrender all their excess cash to Treasury.
KRA is falling short of revenue collections.
The Chinese loans need to repaid.
Ukur Yatani is saying hakuna pesa.
Opus Dei has refused to print money.
The only source of free cash is government institutions and this is easier when there is no Auditor General in place. The only people who can complain are some shareholders of KPLC, Kengen, Kenya Re etc and they are so few, they cannot call for any maandamano.
My Crystal ball tells me this China loan will cause problems very soon and GOK will run back to World Bank and IMF. These will insist on some structural adjustments that will include sale of government assets. In 10 years KPLC, Kengen, KPA, KAA will be 100% private.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Kusadikika wrote:Has anyone considered the fact that the lack of an Auditor General may be a deliberate to enable some accounting gymnastics by government.
At some point Government asked all state organizations to surrender all their excess cash to Treasury.
KRA is falling short of revenue collections.
The Chinese loans need to repaid.
Ukur Yatani is saying hakuna pesa.
Opus Dei has refused to print money.
The only source of free cash is government institutions and this is easier when there is no Auditor General in place. The only people who can complain are some shareholders of KPLC, Kengen, Kenya Re etc and they are so few, they cannot call for any maandamano.
My Crystal ball tells me this China loan will cause problems very soon and GOK will run back to World Bank and IMF. These will insist on some structural adjustments that will include sale of government assets. In 10 years KPLC, Kengen, KPA, KAA will be 100% private. UMK government is just incompetent: 1. He took 1.5yrs to appoint Tax Tribunal members. He thought he would collect taxes through DCI; 2. He kept Njiriani in office illegaly for 2 years and fired the KRA Board when it tried to replace him; 3. He is yet to appoint Judges recommended by JSC. Having said that, the big issue is that there are 2 centres of power one at Gatundu and the other at Sugoi. Both are engaged in serious competition for power esp on key appointments. The Sugoi group is proactive, ruthless and seems to always come out on top. The Gatundu group catches up with happenings in the 9pm news. The Gatundu group is therefore left fighting fires with the help of Bondo mercenaries. Life is short. Live passionately.
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Rank: Veteran Joined: 8/28/2015 Posts: 1,247
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sparkly wrote:Kusadikika wrote:Has anyone considered the fact that the lack of an Auditor General may be a deliberate to enable some accounting gymnastics by government.
At some point Government asked all state organizations to surrender all their excess cash to Treasury.
KRA is falling short of revenue collections.
The Chinese loans need to repaid.
Ukur Yatani is saying hakuna pesa.
Opus Dei has refused to print money.
The only source of free cash is government institutions and this is easier when there is no Auditor General in place. The only people who can complain are some shareholders of KPLC, Kengen, Kenya Re etc and they are so few, they cannot call for any maandamano.
My Crystal ball tells me this China loan will cause problems very soon and GOK will run back to World Bank and IMF. These will insist on some structural adjustments that will include sale of government assets. In 10 years KPLC, Kengen, KPA, KAA will be 100% private. UMK government is just incompetent: 1. He took 1.5yrs to appoint Tax Tribunal members. He thought he would collect taxes through DCI; 2. He kept Njiriani in office illegaly for 2 years and fired the KRA Board when it tried to replace him; 3. He is yet to appoint Judges recommended by JSC. Having said that, the big issue is that there are 2 centres of power one at Gatundu and the other at Sugoi. Both are engaged in serious competition for power esp on key appointments. The Sugoi group is proactive, ruthless and seems to always come out on top. The Gatundu group catches up with happenings in the 9pm news. The Gatundu group is therefore left fighting fires with the help of Bondo mercenaries. Quotable quotes hah! ,Behold, a sower went forth to sow;....
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Solar equipment to become pricier with new/increased taxes. Will this be a positive for kengen Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 2/20/2015 Posts: 467 Location: Nairobi
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Ericsson wrote:Solar equipment to become pricier with new/increased taxes.
Will this be a positive for kengen Why would KenGen though be thinking of investing in a 5MW Solar in Muranga?.
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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kawi254 wrote:Ericsson wrote:Solar equipment to become pricier with new/increased taxes.
Will this be a positive for kengen Why would KenGen though be thinking of investing in a 5MW Solar in Muranga?. Too much money making them go mad. 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:kawi254 wrote:Ericsson wrote:Solar equipment to become pricier with new/increased taxes.
Will this be a positive for kengen Why would KenGen though be thinking of investing in a 5MW Solar in Muranga?. Too much money making them go mad. They are wasting retained profits. They should pay out at least 70% of earnings as dividends as opposed to the current 30%. Life is short. Live passionately.
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Rank: New-farer Joined: 12/30/2018 Posts: 94
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Geothermal: Kenya basks in ranking seventh heaven Kenya has raced past Italy to emerge the seventh-largest geothermal power producer in the world, new global data shows. Kenya’s geothermal capacity stands at 823 megawatts (MW), having grown by 165MW since last year and moving the East African country above Italy’s 800MW. This is according to Renewable Capacity Statistics 2020 prepared by Abu Dhabi-based International Renewable Energy Agency (Irena). https://www.standardmedi...-ranking-seventh-heaven #Geothermal
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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sparkly wrote:Ericsson wrote:kawi254 wrote:Ericsson wrote:Solar equipment to become pricier with new/increased taxes.
Will this be a positive for kengen Why would KenGen though be thinking of investing in a 5MW Solar in Muranga?. Too much money making them go mad. They are wasting retained profits. They should pay out at least 70% of earnings as dividends as opposed to the current 30%. Someone was arguing that firms should retain funds, not pay dividends, to help them weather the Covid-19 crisis.  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: 10,684 Location: NAIROBI
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process of selecting the next Auditor general has restarted. By the time it's completed kengen will be announcing FY 2019/2020 results. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Ericsson wrote:process of selecting the next Auditor general has restarted.
By the time it's completed kengen will be announcing FY 2019/2020 results.
Perhaps there will be 2 AGMs and 2 dividends after in Sep 2020. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 7/6/2018 Posts: 175 Location: Kinshasa
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VituVingiSana wrote:Ericsson wrote:process of selecting the next Auditor general has restarted.
By the time it's completed kengen will be announcing FY 2019/2020 results.
Perhaps there will be 2 AGMs and 2 dividends after in Sep 2020. Going by the subtle signals so far, what's the probability that no dividend will be declared by state-owned Kengen? I mean, the absence of AG did not stop a similar majority state-owned Kenya Re from declaring a dividend regardless, yet Kengen board couldn't. Somebody from Treasury must be sitting on both companies boards. I'm just playing the devil's advocate. If it don't make dollars, it don't make sense
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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VituVingiSana wrote:Ericsson wrote:process of selecting the next Auditor general has restarted.
By the time it's completed kengen will be announcing FY 2019/2020 results.
Perhaps there will be 2 AGMs and 2 dividends after in Sep 2020. Yes. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Balaa wrote:VituVingiSana wrote:Ericsson wrote:process of selecting the next Auditor general has restarted.
By the time it's completed kengen will be announcing FY 2019/2020 results.
Perhaps there will be 2 AGMs and 2 dividends after in Sep 2020. Going by the subtle signals so far, what's the probability that no dividend will be declared by state-owned Kengen? I mean, the absence of AG did not stop a similar majority state-owned Kenya Re from declaring a dividend regardless, yet Kengen board couldn't. Somebody from Treasury must be sitting on both companies boards. I'm just playing the devil's advocate. Let's wait and see post COVID-19. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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