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ARM HY2017
Rank: Member Joined: 7/7/2009 Posts: 41
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They are waiting to report on the last day as they usually do. Though there is nothing to report for H1. Should be worse than 2017 or any other year Happiness is not the absence of problems, It's the ability to deal with them
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Rank: Chief Joined: 1/3/2007 Posts: 18,110 Location: Nairobi
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Ouch! You win some, you lose some. Good news is that this was a Tier 3 holding for me but it still hurts! Should have listened to Mr. Buffett!  Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 13,520 Location: nairobi
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VituVingiSana wrote:Ouch! You win some, you lose some. Good news is that this was a Tier 3 holding for me but it still hurts! Should have listened to Mr. Buffett! What has happened chief
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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obiero wrote:VituVingiSana wrote:Ouch! You win some, you lose some. Good news is that this was a Tier 3 holding for me but it still hurts! Should have listened to Mr. Buffett! What has happened chief ARM has gone burst.bankrupt.pole.its life.put under PWC as joint administrator . punda amecheka
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Rank: Elder Joined: 6/23/2009 Posts: 13,520 Location: nairobi
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newfarer wrote:obiero wrote:VituVingiSana wrote:Ouch! You win some, you lose some. Good news is that this was a Tier 3 holding for me but it still hurts! Should have listened to Mr. Buffett! What has happened chief ARM has gone burst.bankrupt.pole.its life.put under PWC as joint administrator . Pole ni kwa wengine. I was never in there
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 6/23/2009 Posts: 13,520 Location: nairobi
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Spikes wrote:obiero wrote:VituVingiSana wrote:@Fyatu - ๐๐ผ๐๐ผ๐๐ผ
Very helpful. Thanks!
Any comparisons (quality) between ARM and Bamburi?
I hope the next set of projects undertaken by KE and TZ use ARM cement!
Niko ndani!!!! This is a long-term play for me it seems based on the potential. Hehe.. Penny stocker @Obiero I can swear by your KQ's badly mutilated appendix that @VVS is gonna make huge returns vis-a-vis your dead national carrier. No worries
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 6/23/2009 Posts: 13,520 Location: nairobi
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obiero wrote:sparkly wrote:Spikes wrote:sparkly wrote:Spikes wrote:sparkly wrote:VituVingiSana wrote:All these minor ups and downs are irrelevant for me from a long-term perspective.
The 1H 2018 results (and commentary) vs 2H 2017 vs 1H 2017 will light the way.
The commentary will be important especially the discussion about the CDC/IFC loans.
ARM has 3 months to release the results and can ask for an extension so as to provide a comprehensive update.
2018: The (private) construction market in Kenya is suffering and once the current crop of buildings/projects are completed, there will be a pause/slowdown. The public sector may see slower construction as GoK struggles to pay for what's under construction.
Unless GoK's interest rates reduce to sub-10% the banks have little incentive to lend long-term to the private sector. Plus there's plenty of competition from other cement firms which are also expanding capacity.
Investing in ARM is not for the short-term nor the jumpy. Then there are other firms, not in a turnaround situation, whose share prices have tumbled in 2018 which means investors have choices. Exercise caution. Fundamentals are poor for ARM and the nse is generally depressed. Take profits when you can. Considering declining NAV of about kes 20 per share the stock is currently trading too low the fundamentals... Which fundamentals? NAV First fundamental is profitability. If no profitability there is no fundamental. The fundamentals are fundamentally broken at ARM It was written
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 6/23/2009 Posts: 13,520 Location: nairobi
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obiero wrote:LOL. For a man your age @vvs, you surely remain creative.. Cracked me up @vvs this is life..
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 6/23/2009 Posts: 13,520 Location: nairobi
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newfarer wrote:obiero wrote:VituVingiSana wrote:Ouch! You win some, you lose some. Good news is that this was a Tier 3 holding for me but it still hurts! Should have listened to Mr. Buffett! What has happened chief ARM has gone burst.bankrupt.pole.its life.put under PWC as joint administrator . Is this information verified
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Veteran Joined: 4/23/2014 Posts: 909
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obiero wrote:obiero wrote:LOL. For a man your age @vvs, you surely remain creative.. Cracked me up @vvs this is life.. Excellent Poetry VVS  โYou can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.โ - Ben Graham
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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obiero wrote:newfarer wrote:obiero wrote:VituVingiSana wrote:Ouch! You win some, you lose some. Good news is that this was a Tier 3 holding for me but it still hurts! Should have listened to Mr. Buffett! What has happened chief ARM has gone burst.bankrupt.pole.its life.put under PWC as joint administrator . Is this information verified There is an advert in todayโs paper about PWC as administrators. Sorry canโt attach screenshot
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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Rank: Elder Joined: 6/23/2009 Posts: 13,520 Location: nairobi
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Quite sad.. A stock fattening rally comes crumbling. It seemed like a dream. @fyatu gets hit again! PWC appointed as administrators of Kenyaโs ARM Cement, PWC said in a statement on Saturday, days after ARM Cementโs chief executive officer said he was relinquishing his post but staying on its board. This action that falls under Kenyaโs Insolvency Act, was effective on Aug. 17.
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 6/23/2009 Posts: 13,520 Location: nairobi
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wukan wrote:maka wrote:Angelica _ann wrote:rwitre wrote:lochaz-index wrote:Still think that balance sheet is hiding alot more skeletons than what has been revealed so far. Time will tell. They keep coming @Obiero is all smiles  For the umpteenth time never ever buy a corporate bond in Kenya... Never... What about safaricom and kengen bonds? ARM was junk bond On Monday I will be wearing a black suit
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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obiero wrote:Quite sad.. A stock fattening rally comes crumbling. It seemed like a dream. @fyatu gets hit again! PWC appointed as administrators of Kenyaโs ARM Cement, PWC said in a statement on Saturday, days after ARM Cementโs chief executive officer said he was relinquishing his post but staying on its board. This action that falls under Kenyaโs Insolvency Act, was effective on Aug. 17. @fyatu was warned lol...
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Rank: Elder Joined: 6/23/2009 Posts: 13,520 Location: nairobi
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xxxxx wrote:obiero wrote:Kwiklana wrote:@XXXXX and @Fyatu are rather quiet at this turn of events.
What would you want them to say bwana Kwiklana.. That @Obiero had warned them of the folly of chasing a rapidly moving monkey? Haha...any responsible investor would know that this is not NEWS and should not elicit noise or even a reaction fOtherwisearket. All this is already priced in and was the main reason why @the price tanked decisively in April, May and the larger part of June. The issue is simple. The auditor's challenge was doubts about the going concern of @ARMCement because as at reporting date, CDC had not committed to supporting the group's survival given the deteriorating Working K position. The auditor's concerns were mainly due to the fact that AFC's long term debt as well as the banks' loans were due this year. The auditor has been engaged as group auditor for over 10 years. During that time, @ARM has constructed plants in TZ to the tune of so many billion KES. This plant is carried as PPE in the group's books. The funds were advanced to Maweni Limestone which is 100% owned by @ARM. So there's a payable to @ARM in Maweni Limestones books as well as a receivable from Maweni in @ARMs books which cancel out on consolidation. The auditor wanted either 1) this receivable to be provided for by @ARM which doesn't make sense because of the related party relationship and cancellation on consolidation which leaves a net of zero. 2) Failing that, because Tanzania is not performing, the auditor then wanted to impair this PPE which also didn't make sense since @ARM was in the process of debt restructure as well as confirming support from CDC which is now confirmed. If you try to understand the reality of the situation, you would see the opportunity. Just a little bit of research and reading may open your eyes. Otherwise, stick to companies you purport to understand. Just to be clear, if CDC had confirmed the debt restructure terms and conditions before the reporting period, the auditor would have been satisfied with ARMs going concern status and such provisions/impairments would never have been mooted. We wouldn't even be having this discussion regardless of ARMs financial performance. The zig zagging of @ARMCement's price (or any other security for that matter) in the short term owing to regurgitated noise shouldn't blow you off your investment principles bwana. This is a stock market. As always, if its not palatable for you, sit back, watch and learn. Watching and learning..
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,699 Location: NAIROBI
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vvs favourite companies. I wonder whether if Warren buffet was in kenya his recommendations would have been. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 7/1/2014 Posts: 903 Location: sky
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[quote=Horton]ARM officially under administration ๐๐ https://uk.reuters.com/a...statement-idUKL5N1V903Q[/quote] . 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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Rank: Veteran Joined: 7/1/2014 Posts: 903 Location: sky
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[quote=Horton]ARM officially under administration ๐๐ https://uk.reuters.com/a...statement-idUKL5N1V903Q[/quote] most likely preparing the company for acquisition 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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Rank: Elder Joined: 12/4/2009 Posts: 10,699 Location: NAIROBI
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Assets will be split and sold off to pay creditors Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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