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HFCK FY 2018
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littledove
#21 Posted : Tuesday, April 02, 2019 8:10:20 AM
Rank: Veteran

Joined: 7/1/2014
Posts: 928
Location: sky
https://www.the-star.co.ke/amp/business/2019-04-02-landlords-stare-at-empty-rooms-as-demand-drops/
A spot check by the Star in Nairobi saw empty residential houses in Lavington, empty serviced apartments along General Mathenge Road in Westlands and empty rental spaces in malls along Thika Superhighway.

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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mnandii
#22 Posted : Tuesday, April 02, 2019 8:15:07 AM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
littledove wrote:
https://www.the-star.co.ke/amp/business/2019-04-02-landlords-stare-at-empty-rooms-as-demand-drops/
A spot check by the Star in Nairobi saw empty residential houses in Lavington, empty serviced apartments along General Mathenge Road in Westlands and empty rental spaces in malls along Thika Superhighway.



Sorry. And it will get worse as long as the NSE 20 share index is gropping for a bottom. Keep hard cash under your mattress.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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lochaz-index
#23 Posted : Tuesday, April 02, 2019 8:57:31 AM
Rank: Veteran

Joined: 9/18/2014
Posts: 1,127
What is the all time low price for this counter? The bailout line is getting pretty long.
The main purpose of the stock market is to make fools of as many people as possible.
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nairobby
#24 Posted : Tuesday, April 02, 2019 10:18:22 AM
Rank: Member

Joined: 1/18/2019
Posts: 185
Location: kenya
Did short selling begin at the NSE? I would short this bad boy till it bled to death. Housing is suffering FY19 will be worse.
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wukan
#25 Posted : Tuesday, April 02, 2019 12:31:44 PM
Rank: Veteran

Joined: 11/13/2015
Posts: 1,658
lochaz-index wrote:
What is the all time low price for this counter? The bailout line is getting pretty long.


I'm glad I didn't hesitate. I sold out took my losses and invested in better places.

I can see the bailout line from KMRC is being prepared. The house always wins.

Quote:
For this reason, the National Treasury is contributing to the Affordable Housing Pillar of the BIG 4 Agenda by supporting the creation of a lending facility (the Kenya Mortgage Refinance Company) to provide longer-term funds for banks and Saccos for residential mortgages in Kenya. The Kenya Mortgage Refinance Company (KMRC) will provide secure funding to mortgage lenders so that they can offer more mortgages at lower prices.
https://www.businessdail...51918-yyvjv9/index.html

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littledove
#26 Posted : Tuesday, April 02, 2019 12:36:27 PM
Rank: Veteran

Joined: 7/1/2014
Posts: 928
Location: sky
wukan wrote:
lochaz-index wrote:
What is the all time low price for this counter? The bailout line is getting pretty long.


I'm glad I didn't hesitate. I sold out took my losses and invested in better places.

I can see the bailout line from KMRC is being prepared. The house always wins.

Quote:
For this reason, the National Treasury is contributing to the Affordable Housing Pillar of the BIG 4 Agenda by supporting the creation of a lending facility (the Kenya Mortgage Refinance Company) to provide longer-term funds for banks and Saccos for residential mortgages in Kenya. The Kenya Mortgage Refinance Company (KMRC) will provide secure funding to mortgage lenders so that they can offer more mortgages at lower prices.
https://www.businessdail...51918-yyvjv9/index.html


KMRC will be a direct competitor to housing finance, hammering the last nail to the coffin
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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wukan
#27 Posted : Tuesday, April 02, 2019 12:50:57 PM
Rank: Veteran

Joined: 11/13/2015
Posts: 1,658
littledove wrote:
wukan wrote:
lochaz-index wrote:
What is the all time low price for this counter? The bailout line is getting pretty long.


I'm glad I didn't hesitate. I sold out took my losses and invested in better places.

I can see the bailout line from KMRC is being prepared. The house always wins.

Quote:
For this reason, the National Treasury is contributing to the Affordable Housing Pillar of the BIG 4 Agenda by supporting the creation of a lending facility (the Kenya Mortgage Refinance Company) to provide longer-term funds for banks and Saccos for residential mortgages in Kenya. The Kenya Mortgage Refinance Company (KMRC) will provide secure funding to mortgage lenders so that they can offer more mortgages at lower prices.
https://www.businessdail...51918-yyvjv9/index.html


KMRC will be a direct competitor to housing finance, hammering the last nail to the coffin


Nope KMRC is a different animal from a mortgage company-it's a mortgage refinancer. KMRC can buy out the entire loan book from HF repackage it into long-term bonds and sell the bonds to pension schemes or investors who have a long term horizon. HF will then have a clean slate to start lending again. Problem with HF is borrowing short term funds to lend long-term. KMRC will borrow long-term to finance mortgage companies.
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doubletap
#28 Posted : Tuesday, April 02, 2019 11:21:56 PM
Rank: Member

Joined: 7/17/2014
Posts: 132
Location: Wherethewindblows
Anyone with the low down on what ails this company? What lies in the horizon are they not selling houses or what's up with mortgages? Anyone
You have to learn the rules of the game. And then you have to play better than anyone else - Albert Einstein
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obiero
#29 Posted : Wednesday, April 03, 2019 1:52:24 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,458
Location: nairobi
doubletap wrote:
Anyone with the low down on what ails this company? What lies in the horizon are they not selling houses or what's up with mortgages? Anyone

High NPL and reduced lending, implying high provisions expense and low interest income respectively. The firm has however started
aggressive offload of houses at 30% discount which should claw back some losses. It has also launched into retail banking on the financial supermarket model
COOP 306,100 ABP 31.96, KEGN 112,100 ABP 10.64, MTNU 131,000 ABP 10.21
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jmbada
#30 Posted : Wednesday, April 03, 2019 2:47:06 PM
Rank: Member

Joined: 1/1/2011
Posts: 396
obiero wrote:
doubletap wrote:
Anyone with the low down on what ails this company? What lies in the horizon are they not selling houses or what's up with mortgages? Anyone

High NPL and reduced lending, implying high provisions expense and low interest income respectively. The firm has however started
aggressive offload of houses at 30% discount which should claw back some losses. It has also launched into retail banking on the financial supermarket model

What financial supermarket model?
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