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KenGen HY 2019
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Ericsson
#461 Posted : Saturday, February 29, 2020 10:26:16 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
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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kawi254
#462 Posted : Saturday, February 29, 2020 3:00:12 PM
Rank: Member

Joined: 2/20/2015
Posts: 468
Location: Nairobi
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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sparkly
#463 Posted : Saturday, February 29, 2020 3:39:32 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
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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VituVingiSana
#464 Posted : Saturday, February 29, 2020 10:12:05 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
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.
Laughing out loudly Laughing out loudly Laughing out loudly 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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murchr
#465 Posted : Saturday, February 29, 2020 10:18:02 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
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.


Laughing out loudly Laughing out loudly Laughing out loudly 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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VituVingiSana
#466 Posted : Saturday, February 29, 2020 10:35:12 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
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.


Laughing out loudly Laughing out loudly Laughing out loudly 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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Kusadikika
#467 Posted : Sunday, March 01, 2020 8:54:06 PM
Rank: Elder

Joined: 7/22/2008
Posts: 2,721
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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sparkly
#468 Posted : Monday, March 02, 2020 8:55:24 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
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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muandiwambeu
#469 Posted : Monday, March 02, 2020 3:58:24 PM
Rank: Veteran

Joined: 8/28/2015
Posts: 1,247
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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Ericsson
#470 Posted : Monday, April 06, 2020 3:57:42 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
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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WWW
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