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Mumias Sugar huge demand
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jawgey
#631 Posted : Friday, July 11, 2014 5:47:10 PM
Rank: Member

Joined: 1/13/2014
Posts: 398
Location: Denmark
If MSC was to be liquidated right now shareholders (I included) would walk away with nothing! it's practically insolvent
Seeing is believing
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Pesa Nane
#632 Posted : Friday, July 11, 2014 6:15:57 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
jawgey wrote:
If MSC was to be liquidated right now shareholders (I included) would walk away with nothing! it's practically insolvent

I thought Mumias is at a positive cash position (atleast as at 31DEC13)
Retained Earning - 6.98 B
Total Shareholder Equity - 13.2 B
Correct me if am wrong, but with only 1.53 B shares, we are better of liquidating
Pesa Nane plans to be shilingi when he grows up.
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  | | Edit by user: Friday, July 11, 2014 9:12 PM | Reason: Not specified
jawgey
#633 Posted : Friday, July 11, 2014 8:49:17 PM
Rank: Member

Joined: 1/13/2014
Posts: 398
Location: Denmark
Pesa Nane wrote:
jawgey wrote:
If MSC was to be liquidated right now shareholders (I included) would walk away with nothing! it's practically insolvent

I thought Mumias is at a positive cash position (atleast as at 31DEC14)
Retained Earning - 6.98 B
Total Shareholder Equity - 13.2 B
Correct me if am wrong, but with only 1.53 B shares, we are better of liquidating


Have you accounted for the creditors who are owed big time.. plus remember last week the company was negotiating with some financiers for extension of loans repayment .
shareholders are last in the list incase of liquidation. The government comes 1st incase of any taxes owed smile
Seeing is believing
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Pesa Nane
#634 Posted : Friday, July 11, 2014 9:12:31 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
jawgey wrote:
Pesa Nane wrote:
jawgey wrote:
If MSC was to be liquidated right now shareholders (I included) would walk away with nothing! it's practically insolvent

I thought Mumias is at a positive cash position (atleast as at 31DEC13)
Retained Earning - 6.98 B
Total Shareholder Equity - 13.2 B
Correct me if am wrong, but with only 1.53 B shares, we are better of liquidating


Have you accounted for the creditors who are owed big time.. plus remember last week the company was negotiating with some financiers for extension of loans repayment .
shareholders are last in the list incase of liquidation. The government comes 1st incase of any taxes owed smile

As at 31DEC13
Share holders Equity = 13.22 B
Non-Current Liabilities = 5.77 B
Current Liabilities = 6.60 B
I think we are better of liquidating now that later (Or I'm missing something)
Pesa Nane plans to be shilingi when he grows up.
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jawgey
#635 Posted : Friday, July 11, 2014 9:25:51 PM
Rank: Member

Joined: 1/13/2014
Posts: 398
Location: Denmark
Pesa Nane wrote:
jawgey wrote:
Pesa Nane wrote:
jawgey wrote:
If MSC was to be liquidated right now shareholders (I included) would walk away with nothing! it's practically insolvent

I thought Mumias is at a positive cash position (atleast as at 31DEC13)
Retained Earning - 6.98 B
Total Shareholder Equity - 13.2 B
Correct me if am wrong, but with only 1.53 B shares, we are better of liquidating


Have you accounted for the creditors who are owed big time.. plus remember last week the company was negotiating with some financiers for extension of loans repayment .
shareholders are last in the list incase of liquidation. The government comes 1st incase of any taxes owed smile

As at 31DEC13
Share holders Equity = 13.22 B
Non-Current Liabilities = 5.77 B
Current Liabilities = 6.60 B
I think we are better of liquidating now that later (Or I'm missing something)


I still don't think liquidation would do shareholders any good..
Accumulated interest would erode the balance leaving shareholders ,employees and administrators(who are usually not so genuine) to scramble for the asset value..
btw wat was the asset value as at Dec 2013?
Seeing is believing
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Pesa Nane
#636 Posted : Friday, July 11, 2014 10:07:35 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
jawgey wrote:
Pesa Nane wrote:
jawgey wrote:
Pesa Nane wrote:
jawgey wrote:
If MSC was to be liquidated right now shareholders (I included) would walk away with nothing! it's practically insolvent

I thought Mumias is at a positive cash position (atleast as at 31DEC13)
Retained Earning - 6.98 B
Total Shareholder Equity - 13.2 B
Correct me if am wrong, but with only 1.53 B shares, we are better of liquidating


Have you accounted for the creditors who are owed big time.. plus remember last week the company was negotiating with some financiers for extension of loans repayment .
shareholders are last in the list incase of liquidation. The government comes 1st incase of any taxes owed smile

As at 31DEC13
Share holders Equity = 13.22 B
Non-Current Liabilities = 5.77 B
Current Liabilities = 6.60 B
I think we are better of liquidating now that later (Or I'm missing something)


I still don't think liquidation would do shareholders any good..
Accumulated interest would erode the balance leaving shareholders ,employees and administrators(who are usually not so genuine) to scramble for the asset value..
btw wat was the asset value as at Dec 2013?

A massive Ksh. 25,582,837,000.00 composed of:
Non-Current Assets: 19.64 B
Current Assets : 5.94 B
Note that I am not suggesting that Liquidation is the way forward. Rather, its better liquidate now than later if LOSSES are the only thing they keep doing (Self interest is to defend my investment as a shareholder).
Pesa Nane plans to be shilingi when he grows up.
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jawgey
#637 Posted : Friday, July 11, 2014 10:26:34 PM
Rank: Member

Joined: 1/13/2014
Posts: 398
Location: Denmark
Pesa Nane wrote:
jawgey wrote:
Pesa Nane wrote:
jawgey wrote:
Pesa Nane wrote:
jawgey wrote:
If MSC was to be liquidated right now shareholders (I included) would walk away with nothing! it's practically insolvent

I thought Mumias is at a positive cash position (atleast as at 31DEC13)
Retained Earning - 6.98 B
Total Shareholder Equity - 13.2 B
Correct me if am wrong, but with only 1.53 B shares, we are better of liquidating


Have you accounted for the creditors who are owed big time.. plus remember last week the company was negotiating with some financiers for extension of loans repayment .
shareholders are last in the list incase of liquidation. The government comes 1st incase of any taxes owed smile

As at 31DEC13
Share holders Equity = 13.22 B
Non-Current Liabilities = 5.77 B
Current Liabilities = 6.60 B
I think we are better of liquidating now that later (Or I'm missing something)


I still don't think liquidation would do shareholders any good..
Accumulated interest would erode the balance leaving shareholders ,employees and administrators(who are usually not so genuine) to scramble for the asset value..
btw wat was the asset value as at Dec 2013?

A massive Ksh. 25,582,837,000.00 composed of:
Non-Current Assets: 19.64 B
Current Assets : 5.94 B
Note that I am not suggesting that Liquidation is the way forward. Rather, its better liquidate now than later if LOSSES are the only thing they keep doing (Self interest is to defend my investment as a shareholder).


you definitely have a point. There are so many interests in this co. As an investor you only hope the pushing and shoving will result in a positive outcome. Liquidation however would be detrimental to many households in the area
Seeing is believing
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whiteowl
#638 Posted : Friday, July 11, 2014 10:47:26 PM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
hmmm wrote:
More Shida

NIS admits it has no clue who dumps cheap sugar in Kenya

link

I guess this means the importers are too powerful to be touched.

doesn't make much of a difference anyway, we all know what happens to intelligence reports forwarded to the police and other gava agencies.
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Boris Boyka
#639 Posted : Saturday, July 12, 2014 12:03:19 AM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
I sold it @ 3.50 of course at a loss no turning back.
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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dunkang
#640 Posted : Monday, July 21, 2014 11:00:08 AM
Rank: Elder

Joined: 6/2/2011
Posts: 4,824
Location: -1.2107, 36.8831
Today everyone is talking about Mumias. Is it about to DIE!!!!?
Receive with simplicity everything that happens to you.” ― Rashi

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