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ARM HY2017
Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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obiero wrote:HaMaina wrote:obiero wrote:Ericsson wrote:VituVingiSana wrote:What I have gathered so far but subject to verification.
ARM (KE) [the parent] had lent Maweni (TZ) money to build the factory and secure mining leases.
Maweni was unable to service the loans to ARM (KE) so ARM (KE) converted the debt to equity.
Similar stuff happened with KQLC in KQ, GoK in KPLC and KenGen, Suppliers in Uchumi.
The Parent may have written it off on its books but the Child is not "debt-free" to the same extent. As a family, they are no worse off except for the real losses due to depreciation, low production, cashflow outlfows, etc. ARM Cement isn't coming back ARM died two months ago I doubt that is the case or if it will happen any time soon. I'm waiting for trading to restart, so that I may buy a few in the panic and confusion. ARM is not a Hutchings Biemer,Im sure it will survive, even EverReady is still in the race. @HaMaina have you been following the ARM saga. It’s currently the worst loss making firm in East and Central Africa with negative equity in excess of that by KQ KQ will beat ARM in Negative Equity by Dec 2018  Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 14,217 Location: nairobi
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VituVingiSana wrote:obiero wrote:HaMaina wrote:obiero wrote:Ericsson wrote:VituVingiSana wrote:What I have gathered so far but subject to verification.
ARM (KE) [the parent] had lent Maweni (TZ) money to build the factory and secure mining leases.
Maweni was unable to service the loans to ARM (KE) so ARM (KE) converted the debt to equity.
Similar stuff happened with KQLC in KQ, GoK in KPLC and KenGen, Suppliers in Uchumi.
The Parent may have written it off on its books but the Child is not "debt-free" to the same extent. As a family, they are no worse off except for the real losses due to depreciation, low production, cashflow outlfows, etc. ARM Cement isn't coming back ARM died two months ago I doubt that is the case or if it will happen any time soon. I'm waiting for trading to restart, so that I may buy a few in the panic and confusion. ARM is not a Hutchings Biemer,Im sure it will survive, even EverReady is still in the race. @HaMaina have you been following the ARM saga. It’s currently the worst loss making firm in East and Central Africa with negative equity in excess of that by KQ KQ will beat ARM in Negative Equity by Dec 2018 Hehe. Never ever
KQ ABP 4.26
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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obiero wrote:VituVingiSana wrote:obiero wrote:HaMaina wrote:obiero wrote:Ericsson wrote:VituVingiSana wrote:What I have gathered so far but subject to verification.
ARM (KE) [the parent] had lent Maweni (TZ) money to build the factory and secure mining leases.
Maweni was unable to service the loans to ARM (KE) so ARM (KE) converted the debt to equity.
Similar stuff happened with KQLC in KQ, GoK in KPLC and KenGen, Suppliers in Uchumi.
The Parent may have written it off on its books but the Child is not "debt-free" to the same extent. As a family, they are no worse off except for the real losses due to depreciation, low production, cashflow outlfows, etc. ARM Cement isn't coming back ARM died two months ago I doubt that is the case or if it will happen any time soon. I'm waiting for trading to restart, so that I may buy a few in the panic and confusion. ARM is not a Hutchings Biemer,Im sure it will survive, even EverReady is still in the race. @HaMaina have you been following the ARM saga. It’s currently the worst loss making firm in East and Central Africa with negative equity in excess of that by KQ KQ will beat ARM in Negative Equity by Dec 2018 Hehe. Never ever Never says never with KQ. I recall when KK had the largest loss ever at 6bn but KQ said we can beat that and lost 10bn or so! KK, even at its worst, did not have negative equity but KQ... Back to ARM, it's academic for me. I don't expect to get anything back after PwC have sucked it dry but if I do, it's pure profit. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa
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VituVingiSana wrote:obiero wrote:VituVingiSana wrote:obiero wrote:HaMaina wrote:obiero wrote:Ericsson wrote:VituVingiSana wrote:What I have gathered so far but subject to verification.
ARM (KE) [the parent] had lent Maweni (TZ) money to build the factory and secure mining leases.
Maweni was unable to service the loans to ARM (KE) so ARM (KE) converted the debt to equity.
Similar stuff happened with KQLC in KQ, GoK in KPLC and KenGen, Suppliers in Uchumi.
The Parent may have written it off on its books but the Child is not "debt-free" to the same extent. As a family, they are no worse off except for the real losses due to depreciation, low production, cashflow outlfows, etc. ARM Cement isn't coming back ARM died two months ago I doubt that is the case or if it will happen any time soon. I'm waiting for trading to restart, so that I may buy a few in the panic and confusion. ARM is not a Hutchings Biemer,Im sure it will survive, even EverReady is still in the race. @HaMaina have you been following the ARM saga. It’s currently the worst loss making firm in East and Central Africa with negative equity in excess of that by KQ KQ will beat ARM in Negative Equity by Dec 2018 Hehe. Never ever Never says never with KQ. I recall when KK had the largest loss ever at 6bn but KQ said we can beat that and lost 10bn or so! KK, even at its worst, did not have negative equity but KQ... Back to ARM, it's academic for me. I don't expect to get anything back after PwC have sucked it dry but if I do, it's pure profit. ..."PwC have sucked it dry"...  John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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KRA demands ksh.451mn from ARM Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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Ericsson wrote:KRA demands ksh.451mn from ARM
Come rain, come shine... the vulture known as the Tax Man is always waiting... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 14,217 Location: nairobi
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VituVingiSana wrote:Ericsson wrote:KRA demands ksh.451mn from ARM
Come rain, come shine... the vulture known as the Tax Man is always waiting... KQ got a tax refund
KQ ABP 4.26
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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obiero wrote:VituVingiSana wrote:Ericsson wrote:KRA demands ksh.451mn from ARM
Come rain, come shine... the vulture known as the Tax Man is always waiting... KQ got a tax refund aka a Taxpayer Bailout  Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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https://kenyanwallstreet...r-struggling-arm-cement/Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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Ericsson wrote:https://kenyanwallstreet.com/dangote-confirms-talks-to-take-over-struggling-arm-cement/ And the penny drops. The Nigerian bank that placed ARM into administration was UBA which has ties to Dangote. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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