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Fundamental investor - Mumias
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robertyawe
#11 Posted : Wednesday, September 01, 2010 4:43:01 PM
Rank: New-farer

Joined: 7/20/2010
Posts: 37
Location: Nairobi
Thanks for the correction on the drop of the EPS, read the budget for the year 2009/2010 where it was set that the 10% ethanol addition will begin on 1st of September.

Note that the major beneficiary is one Raila Amolo Odinga aka Luo Thrift.

The tariff changes for private producers was effected last year.

mwanahisa wrote:
@robertyawe. Point of Correction. EPS for MSC fell from 1.05 to 1.03 (not 1.50 to 1.20).

What is your source regarding the statement: "Effective today, 1st September 2010 Kenyan fuel is to be stabilised with 10% ethanol to produce Gasohol."? As far as I am aware no legislation has been passed to allow the blending of petroleum products with ethanol. MSC has been pushing for it though.

MSC also sells power to KPLC not to KenGen. The company is pushing for increased tariffs from KPLC, but this is not a done deal as of now.
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robertyawe
#12 Posted : Wednesday, September 01, 2010 4:47:38 PM
Rank: New-farer

Joined: 7/20/2010
Posts: 37
Location: Nairobi
Is Safaricom's core business voice?

the deal wrote:
@robert MSC core business is sugar...with TARDA a distant dream n COMESA around the corner..those fundamentals look shaky...
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winston
#13 Posted : Wednesday, September 01, 2010 4:57:33 PM
Rank: Member

Joined: 4/14/2010
Posts: 806
Location: Nairobi
And this is what Apex africa had to say about Mumias:

Mumias Sugar Company Limited has announced a 2.0% decline in net earnings during the financial year..... Albeit concerns of weak profitability performance, the released results reflect a cash rich firm with sufficient capacity to sustain short term growth exclusive of the intended additional diversification projects.(water bottling business and ethanol production) Accordingly, we are of the opinion that the recent price weakness presents a good bargain opportunity for medium-to-long term investors.
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robertyawe
#14 Posted : Wednesday, September 01, 2010 5:07:23 PM
Rank: New-farer

Joined: 7/20/2010
Posts: 37
Location: Nairobi
For MSC they will be selling the ethanol directly to KPC or KPRL after which they are out of the picture

Njung'e wrote:
@VVs,
Blending will be done by oil companies at certain points and therefore,producers of power alcohol might not have access to the blended fuel unless they go to the retail market.Again 70% of molasses produced in the country comes from MSC.Agro Muhoroni and KMP rely on much of this.Once MSC goes into production,this two will have to scale down production due to lack of raw material or close shop.Of course the other option is to go for potatoes,maize or sorghum which i doubt they have the capacity to process into ethanol....lol.
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Wa_ithaka
#15 Posted : Wednesday, September 01, 2010 5:23:42 PM
Rank: Veteran

Joined: 1/7/2010
Posts: 1,279
Location: nbi
Mumias Sugar is all about sugar. The rest is just small beer.
Even an amateur fundamentalist should know this
The Governor of Nyeri - 2017
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the deal
#16 Posted : Wednesday, September 01, 2010 5:40:29 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
robertyawe wrote:
Is Safaricom's core business voice?

the deal wrote:
@robert MSC core business is sugar...with TARDA a distant dream n COMESA around the corner..those fundamentals look shaky...


Voice is Safaricom's core business...70% of its revenue come from voice...
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the deal
#17 Posted : Wednesday, September 01, 2010 5:44:20 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
@Roberyawe i thought you were a Pro but *newfarer*....welcome to Wazua...and plz wat happened to your offer...LOL...
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Njung'e
#18 Posted : Wednesday, September 01, 2010 6:05:42 PM
Rank: Elder

Joined: 2/7/2007
Posts: 11,935
Location: Nairobi
@Roberwaye,
It's unlikely.......Okay.Impossible for KPC or KPRL to buy ethanol unless we change legislation on the roles of this two companies.MSC is most likely to put a customer base around multinationals such as Shell who will in turn use KPC terminals at Nakuru,Eldoret and Kisumu for blending.There is also a likelihood that they will target foreign markets which are likely to offer higher prices per litre while leaving food grades to the EA market.

My understanding is that money for the project has already been secured through various Banks led Ecobank Transnational Inc.The loan will be paid with equal amounts of debt and equity.
Nothing great was ever achieved without enthusiasm.
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  | | Edit by user: Wednesday, September 01, 2010 6:25 PM | Reason: Not specified
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