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Mumias Sugar huge demand
subaru
#1201 Posted : Tuesday, February 10, 2015 9:45:03 AM
Rank: Member


Joined: 3/15/2010
Posts: 391
Location: nairobie
[quote=HaMaina]If this is true then some people need to be delt with as harshly as possible.

How 1,497 trucks of Mumias sugar ‘disappeared’ in transit

http://www.standardmedia...-disappeared-in-transit[/quote]

i now know where my december 50cent dividend went to
HaMaina
#1202 Posted : Tuesday, February 10, 2015 10:17:37 AM
Rank: Veteran


Joined: 4/23/2014
Posts: 909
Closing Date 13th Feb 2015. To all interested Wazuans, you have app 72 hours.

http://www.kenyan-post.c...ent-by-mumias-sugar.html
“You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
streetwise
#1203 Posted : Tuesday, February 10, 2015 10:18:12 AM
Rank: Veteran


Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
I am surprised they are still in office.

In Kenya you must be fired even when you are no longer useful.

It’s like those cars you see on some Kenyan roads with tires wobbling and grass growing inside the car. They should have been smelted long time ago but they are waiting for an insect to hit them they become mud and soil. Looking at the road you think a lorry dumped soil from a construction site in the middle of the road.
derick
#1204 Posted : Tuesday, February 10, 2015 10:43:04 AM
Rank: Member


Joined: 1/10/2015
Posts: 411
How tendering flaws led to Mumias Sugar rip-off - http://www.standardmedia...e/?articleID=2000151192 via @StandardKenya
Your income is directly related to your philosophy, Not the economy.-Jim Rohn
Njung'e
#1205 Posted : Tuesday, February 10, 2015 1:31:25 PM
Rank: Elder


Joined: 2/7/2007
Posts: 11,935
Location: Nairobi
Why is the full KPMG report?
Nothing great was ever achieved without enthusiasm.
jerry
#1206 Posted : Tuesday, February 10, 2015 1:44:03 PM
Rank: Elder


Joined: 9/29/2006
Posts: 2,570
Njung'e wrote:
Why is the full KPMG report?

Where is...
The opposite of courage is not cowardice, it's conformity.
mawinder
#1207 Posted : Tuesday, February 10, 2015 4:28:16 PM
Rank: Elder


Joined: 4/30/2008
Posts: 6,029
jerry wrote:
Njung'e wrote:
Why is the full KPMG report?

Where is...

I have it but in hardcopy, it is a voluminous document of over 300 pages, dont know how to share it!!!!!!!!!!!!!!!!!!
HaMaina
#1208 Posted : Tuesday, February 10, 2015 4:45:49 PM
Rank: Veteran


Joined: 4/23/2014
Posts: 909
mawinder wrote:
jerry wrote:
Njung'e wrote:
Why is the full KPMG report?

Where is...

I have it but in hardcopy, it is a voluminous document of over 300 pages, dont know how to share it!!!!!!!!!!!!!!!!!!


Are there any recommendations that have been pointed out, that are worth writing about?
“You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
streetwise
#1209 Posted : Tuesday, February 10, 2015 5:22:27 PM
Rank: Veteran


Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
They have named the thiefs. Waliwasema
Rahatupu
#1210 Posted : Tuesday, February 10, 2015 5:32:26 PM
Rank: Veteran


Joined: 12/4/2009
Posts: 1,982
Location: matano manne
streetwise wrote:
They have named the thiefs. Waliwasema



I'm amazed how a 30 tonne truck could do Kakamega-Nairobi-Kakamega in 8 hours. d'oh! d'oh!
streetwise
#1211 Posted : Tuesday, February 10, 2015 5:58:46 PM
Rank: Veteran


Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
Have you ever heard of something known as paper work. How far does it travel.
yosie14
#1212 Posted : Tuesday, February 10, 2015 10:01:52 PM
Rank: Member


Joined: 12/17/2013
Posts: 118
mawinder wrote:
jerry wrote:
Njung'e wrote:
Why is the full KPMG report?

Where is...

I have it but in hardcopy, it is a voluminous document of over 300 pages, dont know how to share it!!!!!!!!!!!!!!!!!!


@Mawinder,pls scan it,upload on your google drive and share with us the link to the doc on wazua group.You can also share the link here on the thread
KCB,NMG,PAFR
Rollout
#1213 Posted : Wednesday, February 11, 2015 12:18:39 AM
Rank: Member


Joined: 4/26/2011
Posts: 759
PE should buy Mumias for 60% discount, what's the current EBITDA for Mumias, anyone knows? Buy Mumias at 60% discount, institute new management, file bankruptcy, turn it around and then exit in approx 5 yrs. GOK will not be able to fix it.
slykat
#1214 Posted : Wednesday, February 11, 2015 1:33:33 AM
Rank: Member


Joined: 2/20/2007
Posts: 359
Rollout wrote:
PE should buy Mumias for 60% discount, what's the current EBITDA for Mumias, anyone knows? Buy Mumias at 60% discount, institute new management, file bankruptcy, turn it around and then exit in approx 5 yrs. GOK will not be able to fix it.



If you file for bankruptcy then you will lose control including of the turn around program to the receiver managers (these may also be corrupt).
ayushnehra
#1215 Posted : Wednesday, February 11, 2015 3:12:14 AM
Rank: Member


Joined: 1/4/2015
Posts: 153
I don't understand how after having all this knowledge about the fraudulent activity/scam has taken place..no action has been taken against kidero or Kebati? Seriously Kenya AMUKA..!! Just like the Keter Saga..he abused Kenyan..and we have forgotten already..!!
Dreams are not the thing you see in your sleep..it's the thing that doesn't let you sleep. - A.P.J. Abdul Kalam
shocks
#1216 Posted : Wednesday, February 11, 2015 4:32:35 AM
Rank: Member


Joined: 3/15/2009
Posts: 359
Rollout wrote:
PE should buy Mumias for 60% discount, what's the current EBITDA for Mumias, anyone knows? Buy Mumias at 60% discount, institute new management, file bankruptcy, turn it around and then exit in approx 5 yrs. GOK will not be able to fix it.


In Kenya filing for bankruptcy will surely kill the business unlike the US where they have chapter 11
enyands
#1217 Posted : Wednesday, February 11, 2015 4:58:23 AM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
I do believe Kenya should develop a special judicial proceedings to combat such gross white crime activities . In USA there is clear separation of powers *( remember Enron company here in USA that led to jailing for life it's former executives after defrauding shareholders and filing for bankruptcy later).Once you are a legislator you don't interfere with judicial processes .
In Kenya the system is intertwined and complex because the same Kidero guy whose a politician (has legislative influence ) has influence over judicial process . As long as we have people who take advantage of these complex loopholes between judicial and legislative arms they Will continue to do these heinous acts for other companies . We need to wake up and see its the children of our children we are hurting .The bail out money 500 million could be used to hire 5000 policemen to help in Kenya Somalia border thereby keeping me safe from terrorists. Unless we wake up and see things in a three dimension , we will be taken advantage of by these businessmen kam senseless politicians. We need to wake up
enyands
#1218 Posted : Wednesday, February 11, 2015 5:02:10 AM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
Applause
shocks wrote:
Rollout wrote:
PE should buy Mumias for 60% discount, what's the current EBITDA for Mumias, anyone knows? Buy Mumias at 60% discount, institute new management, file bankruptcy, turn it around and then exit in approx 5 yrs. GOK will not be able to fix it.


In Kenya filing for bankruptcy will surely kill the business unlike the US where they have chapter 11

Kausha
#1219 Posted : Wednesday, February 11, 2015 6:35:49 AM
Rank: Member


Joined: 2/8/2007
Posts: 808
Rollout wrote:
PE should buy Mumias for 60% discount, what's the current EBITDA for Mumias, anyone knows? Buy Mumias at 60% discount, institute new management, file bankruptcy, turn it around and then exit in approx 5 yrs. GOK will not be able to fix it.

Describe what disc you are talking about. Mumias has no EBITDA. Been making huges loses past 3 years.
HaMaina
#1220 Posted : Wednesday, February 11, 2015 7:03:17 AM
Rank: Veteran


Joined: 4/23/2014
Posts: 909
enyands wrote:
I do believe Kenya should develop a special judicial proceedings to combat such gross white crime activities . In USA there is clear separation of powers *( remember Enron company here in USA that led to jailing for life it's former executives after defrauding shareholders and filing for bankruptcy later).Once you are a legislator you don't interfere with judicial processes .
In Kenya the system is intertwined and complex because the same Kidero guy whose a politician (has legislative influence ) has influence over judicial process . As long as we have people who take advantage of these complex loopholes between judicial and legislative arms they Will continue to do these heinous acts for other companies . We need to wake up and see its the children of our children we are hurting .The bail out money 500 million could be used to hire 5000 policemen to help in Kenya Somalia border thereby keeping me safe from terrorists. Unless we wake up and see things in a three dimension , we will be taken advantage of by these businessmen kam senseless politicians. We need to wake up


Hiring anyone turns the cost into a revolving cost that needs to be provided for every financial year.
“You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
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