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Ericsson		#491 Posted : Friday, June 19, 2020 8:22:33 PM
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI		VituVingiSana wrote: muandiwambeu wrote: sparkly wrote: VituVingiSana wrote: Ericsson wrote: VituVingiSana wrote: Ericsson wrote: VituVingiSana wrote: sparkly wrote: Ericsson wrote: FY2019 profit before tax increased by 35% from ksh.3.1bn to ksh.4.18bn due to high gross premiums written,significant growth in the share of profit from investment in associate in Zep Re and gains on revaluation of investment property. Asset base grew by 14% from ksh.44.36bn to 50.36bn The board of directors recommend a dividend of ksh.0.1 per share Link:https://www.nse.co.ke/listed-companies/company-announcements/issuer-announcements.html 10 cents, what a joke! The stated EPS is 2.55 but the there is a 2bn FV Gain on Revaluation. Any info? The FV gain on revaluation was the Mbagathi way land. Part of it was sold to NLC and KURA for construction of the upper hill to mbagathi way link road which has been completed and open to motorists Asante. So they owned land pale Mbagathi Way and sold a huge chunk for 2bn? I am trying to get my head around it. Or they sold a small portion and revalued the rest? In this day and age, I am leery of revaluations unless they can really be sold for the revalued amounts. Sold a small portion for ksh.300mn and revalued the rest based on the pricing of the sale Thanks. Though in this day and age can they sell the rest for the 2bn? Too bad KURA didn't buy the whole thing! Not a sale. Compulsory acquisition and compensation. Whats the difference. Too bad KURA didn't forcibly acquire the whole thing for 2bn! Upper hill will in future expand and come towards Mbagathi way. Might be an opportunity for Kenya Re to develop commercial grade buildings Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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VituVingiSana		#492 Posted : Friday, June 19, 2020 8:47:07 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,344 Location: Nairobi		Ericsson wrote: VituVingiSana wrote: muandiwambeu wrote: sparkly wrote: VituVingiSana wrote: Ericsson wrote: VituVingiSana wrote: Ericsson wrote: VituVingiSana wrote: sparkly wrote: Ericsson wrote: FY2019 profit before tax increased by 35% from ksh.3.1bn to ksh.4.18bn due to high gross premiums written,significant growth in the share of profit from investment in associate in Zep Re and gains on revaluation of investment property. Asset base grew by 14% from ksh.44.36bn to 50.36bn The board of directors recommend a dividend of ksh.0.1 per share Link:https://www.nse.co.ke/listed-companies/company-announcements/issuer-announcements.html 10 cents, what a joke! The stated EPS is 2.55 but the there is a 2bn FV Gain on Revaluation. Any info? The FV gain on revaluation was the Mbagathi way land. Part of it was sold to NLC and KURA for construction of the upper hill to mbagathi way link road which has been completed and open to motorists Asante. So they owned land pale Mbagathi Way and sold a huge chunk for 2bn? I am trying to get my head around it. Or they sold a small portion and revalued the rest? In this day and age, I am leery of revaluations unless they can really be sold for the revalued amounts. Sold a small portion for ksh.300mn and revalued the rest based on the pricing of the sale Thanks. Though in this day and age can they sell the rest for the 2bn? Too bad KURA didn't buy the whole thing! Not a sale. Compulsory acquisition and compensation. Whats the difference. Too bad KURA didn't forcibly acquire the whole thing for 2bn! Upper hill will in future expand and come towards Mbagathi way. Might be an opportunity for Kenya Re to develop commercial grade buildings NOOOOOOO What do you mean by commercial grade? Firms are learning that some jobs need not be done from expensive offices or prime real estate. Equity bank has started reducing the size of some of their branches too! Kenya Re has 3 office buildings that I know of in Nairobi. Anniversary Towers Kenya Re Plaza in CBD Kenya Re Tower in Upper Hill I visited all 3 as part of my DD. BTW, CMA was/is in Kenya Re Plaza. Perhaps a high-rise tower for middle-class folks in the future? Or a mixed-use building e.g. residential, commercial and some office. No need for another 100% office building in Nairobi. Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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Ericsson		#493 Posted : Friday, June 19, 2020 10:15:29 PM
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI		VituVingiSana wrote: Ericsson wrote: VituVingiSana wrote: muandiwambeu wrote: sparkly wrote: VituVingiSana wrote: Ericsson wrote: VituVingiSana wrote: Ericsson wrote: VituVingiSana wrote: sparkly wrote: Ericsson wrote: FY2019 profit before tax increased by 35% from ksh.3.1bn to ksh.4.18bn due to high gross premiums written,significant growth in the share of profit from investment in associate in Zep Re and gains on revaluation of investment property. Asset base grew by 14% from ksh.44.36bn to 50.36bn The board of directors recommend a dividend of ksh.0.1 per share Link:https://www.nse.co.ke/listed-companies/company-announcements/issuer-announcements.html 10 cents, what a joke! The stated EPS is 2.55 but the there is a 2bn FV Gain on Revaluation. Any info? The FV gain on revaluation was the Mbagathi way land. Part of it was sold to NLC and KURA for construction of the upper hill to mbagathi way link road which has been completed and open to motorists Asante. So they owned land pale Mbagathi Way and sold a huge chunk for 2bn? I am trying to get my head around it. Or they sold a small portion and revalued the rest? In this day and age, I am leery of revaluations unless they can really be sold for the revalued amounts. Sold a small portion for ksh.300mn and revalued the rest based on the pricing of the sale Thanks. Though in this day and age can they sell the rest for the 2bn? Too bad KURA didn't buy the whole thing! Not a sale. Compulsory acquisition and compensation. Whats the difference. Too bad KURA didn't forcibly acquire the whole thing for 2bn! Upper hill will in future expand and come towards Mbagathi way. Might be an opportunity for Kenya Re to develop commercial grade buildings NOOOOOOO What do you mean by commercial grade? Firms are learning that some jobs need not be done from expensive offices or prime real estate. Equity bank has started reducing the size of some of their branches too! Kenya Re has 3 office buildings that I know of in Nairobi. Anniversary Towers Kenya Re Plaza in CBD Kenya Re Tower in Upper Hill I visited all 3 as part of my DD. BTW, CMA was/is in Kenya Re Plaza. Perhaps a high-rise tower for middle-class folks in the future? Or a mixed-use building e.g. residential, commercial and some office. No need for another 100% office building in Nairobi. Government is expanding towards upper hill.They have taken several office space. Commercial grade means commercial buildings/office parks. CMA is at Embankment plaza,Upper Hill. Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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Wakanyugi		#494 Posted : Saturday, June 20, 2020 11:22:14 AM
Rank: Veteran Joined: 7/3/2007 Posts: 1,635		Ericsson wrote: Angelica _ann wrote: Spokesperson's Office State House, Nairobi Friday, 19th June 2020 Press Statement President Kenyatta nominates Ms Nancy Janet Kabui Gathungu for position of Auditor General His Excellency President Uhuru Kenyatta has nominated Ms Nancy Janet Kabui Gathungu for the position of Auditor General. Ms Gathungu was the first among the top three (3) candidates presented to His Excellency the President for nomination by the Recruitment Panel for the Selection of the Auditor General as set out in law. Consequently, His Excellency the President has forwarded the name of Ms Nancy Janet Kabui Gathungu to the National Assembly for vetting. Kanze Dena Mararo Spokesperson Angelica_ann Watch and learn,told you by July 1st Na Huyo Meshak Obiero, who was in the shortlist, ni Obiero wetu? *"The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth."* (Niels Bohr)
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Queen		#495 Posted : Saturday, June 20, 2020 1:58:18 PM
Rank: Member Joined: 11/21/2018 Posts: 564 Location: Britain		Wakanyugi wrote: Ericsson wrote: Angelica _ann wrote: Spokesperson's Office State House, Nairobi Friday, 19th June 2020 Press Statement President Kenyatta nominates Ms Nancy Janet Kabui Gathungu for position of Auditor General His Excellency President Uhuru Kenyatta has nominated Ms Nancy Janet Kabui Gathungu for the position of Auditor General. Ms Gathungu was the first among the top three (3) candidates presented to His Excellency the President for nomination by the Recruitment Panel for the Selection of the Auditor General as set out in law. Consequently, His Excellency the President has forwarded the name of Ms Nancy Janet Kabui Gathungu to the National Assembly for vetting. Kanze Dena Mararo Spokesperson Angelica_ann Watch and learn,told you by July 1st Na Huyo Meshak Obiero, who was in the shortlist, ni Obiero wetu? Hapana. Wetu ni Collins.
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Queen		#496 Posted : Saturday, June 20, 2020 2:06:38 PM
Rank: Member Joined: 11/21/2018 Posts: 564 Location: Britain		sparkly wrote: VituVingiSana wrote: Ericsson wrote: VituVingiSana wrote: Ericsson wrote: VituVingiSana wrote: sparkly wrote: Ericsson wrote: FY2019 profit before tax increased by 35% from ksh.3.1bn to ksh.4.18bn due to high gross premiums written,significant growth in the share of profit from investment in associate in Zep Re and gains on revaluation of investment property. Asset base grew by 14% from ksh.44.36bn to 50.36bn The board of directors recommend a dividend of ksh.0.1 per share Link:https://www.nse.co.ke/listed-companies/company-announcements/issuer-announcements.html 10 cents, what a joke! The stated EPS is 2.55 but the there is a 2bn FV Gain on Revaluation. Any info? The FV gain on revaluation was the Mbagathi way land. Part of it was sold to NLC and KURA for construction of the upper hill to mbagathi way link road which has been completed and open to motorists Asante. So they owned land pale Mbagathi Way and sold a huge chunk for 2bn? I am trying to get my head around it. Or they sold a small portion and revalued the rest? In this day and age, I am leery of revaluations unless they can really be sold for the revalued amounts. Sold a small portion for ksh.300mn and revalued the rest based on the pricing of the sale Thanks. Though in this day and age can they sell the rest for the 2bn? Too bad KURA didn't buy the whole thing! Not a sale. Compulsory acquisition and compensation. It should also be noted that during compulsory acquistions, the government normally pay a 15% premium over and above the current market valuation of a property. So for this case, most probably, the 2B revaluations is inclusive of the 15% market valuation top-up.
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sparkly		#497 Posted : Saturday, June 20, 2020 2:24:48 PM
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi		Queen wrote: Wakanyugi wrote: Ericsson wrote: Angelica _ann wrote: Spokesperson's Office State House, Nairobi Friday, 19th June 2020 Press Statement President Kenyatta nominates Ms Nancy Janet Kabui Gathungu for position of Auditor General His Excellency President Uhuru Kenyatta has nominated Ms Nancy Janet Kabui Gathungu for the position of Auditor General. Ms Gathungu was the first among the top three (3) candidates presented to His Excellency the President for nomination by the Recruitment Panel for the Selection of the Auditor General as set out in law. Consequently, His Excellency the President has forwarded the name of Ms Nancy Janet Kabui Gathungu to the National Assembly for vetting. Kanze Dena Mararo Spokesperson Angelica_ann Watch and learn,told you by July 1st Na Huyo Meshak Obiero, who was in the shortlist, ni Obiero wetu? Hapana. Wetu ni Collins. Ndiye huyu wetu, lakini hajataja KQ kwa website - http://www.winda.co.ke/brief.php Life is short. Live passionately.
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sparkly		#498 Posted : Saturday, June 20, 2020 2:28:36 PM
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi		Queen wrote: sparkly wrote: VituVingiSana wrote: Ericsson wrote: VituVingiSana wrote: Ericsson wrote: VituVingiSana wrote: sparkly wrote: Ericsson wrote: FY2019 profit before tax increased by 35% from ksh.3.1bn to ksh.4.18bn due to high gross premiums written,significant growth in the share of profit from investment in associate in Zep Re and gains on revaluation of investment property. Asset base grew by 14% from ksh.44.36bn to 50.36bn The board of directors recommend a dividend of ksh.0.1 per share Link:https://www.nse.co.ke/listed-companies/company-announcements/issuer-announcements.html 10 cents, what a joke! The stated EPS is 2.55 but the there is a 2bn FV Gain on Revaluation. Any info? The FV gain on revaluation was the Mbagathi way land. Part of it was sold to NLC and KURA for construction of the upper hill to mbagathi way link road which has been completed and open to motorists Asante. So they owned land pale Mbagathi Way and sold a huge chunk for 2bn? I am trying to get my head around it. Or they sold a small portion and revalued the rest? In this day and age, I am leery of revaluations unless they can really be sold for the revalued amounts. Sold a small portion for ksh.300mn and revalued the rest based on the pricing of the sale Thanks. Though in this day and age can they sell the rest for the 2bn? Too bad KURA didn't buy the whole thing! Not a sale. Compulsory acquisition and compensation. It should also be noted that during compulsory acquistions, the government normally pay a 15% premium over and above the current market valuation of a property. So for this case, most probably, the 2B revaluations is inclusive of the 15% market valuation top-up. Good to know. Valuation will quickly catch up with the premium since a good road is now servicing the land. Life is short. Live passionately.
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Ericsson		#499 Posted : Sunday, June 21, 2020 7:51:17 AM
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI		Kenya Reinsurance Corporation Uganda subsidiary began operations in January 1 2020. Kenya Re also holds a 11.5% stake in Uganda Reinsurance Company. Share capital through issuance of bonus was increased so that the company can continue underwriting business in Egypt where capital requirements had been revised. Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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BKB		#500 Posted : Wednesday, June 24, 2020 11:18:17 AM
Rank: New-farer Joined: 1/14/2015 Posts: 16 Location: Ngamia 1		Ksh 2.10 prints on a huge 8.94M volume.
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