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Mumias Sugar huge demand
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Spikes
#1641 Posted : Monday, December 14, 2015 8:49:34 AM
Rank: Elder


Joined: 9/20/2015
Posts: 2,811
Location: Mombasa
RSM East Africa is now crowned the auditor of Mumias Sugar Co. Ltd as part of turnaround strategy. I hope anytime from now the government will release kes 2bn bailout as the new sheriff-RSM East Africa-is in town. The new auditor has wealth of experience on sugar industry being in check of books of other successful companies like Butali sugar in the region.
John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Spikes
#1642 Posted : Monday, December 14, 2015 9:09:05 AM
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Joined: 9/20/2015
Posts: 2,811
Location: Mombasa
Now that Deloitte is on the spot over professional misconduct lets wait and see the action of ICPAK and EACC . We want serious punitive measures including revoking Deloitte biz licence without delay to restore professional normalcy in the industry.
John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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streetwise
#1643 Posted : Monday, December 14, 2015 9:57:43 AM
Rank: Veteran


Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
MSC continues to make positive changes even though at snail speed.

Blessed are those who wait .
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Pesa Nane
#1644 Posted : Tuesday, December 15, 2015 10:47:03 AM
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Joined: 5/25/2012
Posts: 4,105
Location: 08c
HaMaina wrote:
Kenya Invites Bids for the Purchase of Stakes in Five State-Owned Sugar Companies

https://atlantablackstar...-owned-sugar-companies/


Not so fast, brother!

Court stops sale of five public sugar companies
Pesa Nane plans to be shilingi when he grows up.
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maka
#1645 Posted : Tuesday, December 15, 2015 10:50:37 AM
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Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Spikes wrote:
Now that Deloitte is on the spot over professional misconduct lets wait and see the action of ICPAK and EACC . We want serious punitive measures including revoking Deloitte biz licence without delay to restore professional normalcy in the industry.


They will pay some more and they will be let off...

possunt quia posse videntur
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HaMaina
#1646 Posted : Tuesday, December 15, 2015 11:06:32 AM
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Joined: 4/23/2014
Posts: 909
Court stops sale of five sugar firms

http://www.standardmedia...sale-of-five-sugar-firms
“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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streetwise
#1647 Posted : Tuesday, December 15, 2015 11:09:42 AM
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Location: Nairobi
Is this good or bad , please provide your understanding of the situation
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HaMaina
#1648 Posted : Tuesday, December 15, 2015 11:25:12 AM
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Joined: 4/23/2014
Posts: 909
streetwise wrote:
Is this good or bad , please provide your understanding of the situation


Could be good because:-

1. It gives the government more time to revive the factories.
2. More time to create a good cane supply and support relationship with the farmers.
3. Will most likely result in a better selling price of the factories.

-these are the first 3 I can think of right now.

Bad because:-

1.Allows for more political interference and underhand dealings in the sale process.
2. Would likely discourage potential bids.
3. The governments intentions are slow and a year to privatize, restructure and sell have just been interfered with.

Personally:-

This privatisation process has taken too long and my money is too idle in this stock. I want to see some profit, I'll take the sugar later.
“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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streetwise
#1649 Posted : Tuesday, December 15, 2015 12:26:07 PM
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Location: Nairobi
The issue with the courts is that they don't think business.

Lets wait and see
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HaMaina
#1650 Posted : Thursday, December 17, 2015 8:05:37 AM
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Joined: 4/23/2014
Posts: 909
Sale of sugar mills in jeopardy as CoG makes new demands

http://www.nation.co.ke/.../-/6etxu6z/-/index.html

Just wondering what were these people doing the past year? Personally I think we should put out votes to better use.
“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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Spikes
#1651 Posted : Thursday, December 17, 2015 8:21:37 AM
Rank: Elder


Joined: 9/20/2015
Posts: 2,811
Location: Mombasa
The CoG assert that their farmers must be given atleast 3 years to gather financial strength to buy shares in sugar companies. For now they say farmers don't have resources to buy the stake allocated to them.
John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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HaMaina
#1652 Posted : Thursday, December 17, 2015 8:28:37 AM
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Joined: 4/23/2014
Posts: 909
Spikes wrote:
The CoG assert that their farmers must be given atleast 3 years to gather financial strength to buy shares in sugar companies. For now they say farmers don't have resources to buy the stake allocated to them.


That's true but the country doesn't have 3 years, were looking at 1.5yrs before the Comesa safeguards are lifted. The counties could fund or arrange for institutional funding, for the farmers. Either way I think the allocated stake can only be bought by the farmers and if not retained by the government.
“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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Boris Boyka
#1653 Posted : Thursday, December 17, 2015 9:11:12 AM
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Joined: 11/15/2013
Posts: 1,977
Location: Here
streetwise wrote:
Is this good or bad , please provide your understanding of the situation

A very bad move. I'll share reasons when am relaxed.
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Spikes
#1654 Posted : Thursday, December 17, 2015 9:16:08 AM
Rank: Elder


Joined: 9/20/2015
Posts: 2,811
Location: Mombasa
Good or bad depends on perspectives: investors, farmers,government etc.
John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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streetwise
#1655 Posted : Thursday, December 17, 2015 11:56:00 AM
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Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
This business of free things is strange.

Are the governors saying for example the framer can’t retain 10% of his pay-out every time he is paid for delivery of his cane to buy MSC at 1.50 per share. They even encourage by reducing some of those funny taxes they charges at the market place.

What the farmer wants is some leader to show them the way not to be given 3 year to make savings. In three years they still will have zero in the account. Then at that time the Governors will buy the shares for themselves.

Amukeni Kenyans !!!!
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streetwise
#1656 Posted : Wednesday, December 23, 2015 11:56:44 AM
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kayhara
#1657 Posted : Wednesday, December 23, 2015 12:42:23 PM
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Joined: 5/5/2011
Posts: 1,059
streetwise wrote:
And the fight goes on..

http://www.nation.co.ke/...8/-/1afgiw/-/index.html

Where does impounded sugar go after that, I have never heard of destroyed sugar or return to sender.
To Each His Own
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streetwise
#1658 Posted : Wednesday, December 23, 2015 2:04:56 PM
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Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
The other day the burned some although part of it was stolen when in custody
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Ericsson
#1659 Posted : Thursday, December 24, 2015 6:51:09 PM
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Joined: 12/4/2009
Posts: 10,677
Location: NAIROBI
Hyenas have planted their key man as a non-executive director at the company.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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HaMaina
#1660 Posted : Monday, January 04, 2016 8:10:31 AM
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Joined: 4/23/2014
Posts: 909
Happy New Year to all Wazuan's and hope this will be a better year than the last one.

On another note, this is one REALLY angry shareholder from the last AGM.

https://www.youtube.com/watch?v=GQ80ghLuPNI

Laughing out loudly Laughing out loudly Laughing out loudly smile smile smile smile
“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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