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SHOULD UCHUMI BE RE-LISTED??? by yaserbigchair
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yaserbigchair
#1 Posted : Thursday, December 09, 2010 7:13:27 PM
Rank: Member

Joined: 7/19/2006
Posts: 118
Location: Mombasa
I HOLD A BIG NO!

How about you guys???

Uchumi has current liabilities worth Sh1.3 billion, which exceed its current assets valued at Sh1.2 billion by about Sh100 million At year ended JUNE 2010.

Regulators sets a target of net current asset ratio of at least 1.5 for companies applying for listing at the bourse, meaning that the current assets should cover liabilities at least one-and-a-half times.

Even if it has reported a three years of profitability, their assets don't tell the whole story.

BE AWARE, NOT TO GET BURNT!
Sound that I love most: Is the ringing bell of Stock Market.
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  | | Edit by moderator: Thursday, December 09, 2010 7:24 PM | Reason: title corrected - be
muganda
#2 Posted : Thursday, December 09, 2010 7:34:48 PM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
Hold a number of Uchumi. When I first read, I thought its madam CMA being difficult as they are now famed to be.

Deeper read though shows that despite Uchumi going in the right direction, more patience is required - no need to overextend, prudent financial planning. Even Nakumatt I hear today is overextended. So I'll wait patiently.

I pleasantly note the shopping throngs everytime I visit Uchumi, but can't get over the fact that shop is like a market! Why do retailers overclutter shop space - between aisles, next to cashiers - same mindset that leaves them overleveraged in their finances.
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muganda
#3 Posted : Thursday, December 09, 2010 7:49:35 PM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
Hold a number of Uchumi. When I first read, I thought its madam CMA being difficult as they are now famed to be.

Deeper read though shows that despite Uchumi going in the right direction, more patience is required - no need to overextend, prudent financial planning. Even Nakumatt I hear today is overextended. So I'll wait patiently.

I pleasantly note the shopping throngs everytime I visit Uchumi, but can't get over the fact that shop is like a market! Why do retailers overclutter shop space - between aisles, next to cashiers - same mindset that leaves them overleveraged in their finances.
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VituVingiSana
#4 Posted : Thursday, December 09, 2010 7:59:24 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
The Re-listing will give Uchumi the ability to borrow again as well as confidence for a Rights or Bond Issue...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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yaserbigchair
#5 Posted : Thursday, December 09, 2010 8:58:33 PM
Rank: Member

Joined: 7/19/2006
Posts: 118
Location: Mombasa
But the company should first be able to finance its own operations.

Thousands of Kenyans made loss from it.

We don't need very risky companies as more might loss.

And the worst from it was on the THEFT PART!

Just like what Cables is doing at Tanzania and they are telling us they have correct it.

Lets see what will happen with cables in the next 4 years. But shareholders of this company should always track its reports.
Sound that I love most: Is the ringing bell of Stock Market.
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sparkly
#6 Posted : Thursday, December 09, 2010 10:20:50 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
yaserbigchair wrote:
I HOLD A BIG NO...

...Regulators sets a target of net current asset ratio of at least 1.5 for companies applying for listing at the bourse, meaning that the current assets should cover liabilities at least one-and-a-half times.


who are you now, the CMA? Of course it should be re-listed so that i can sell whatever i have or buy more.
Life is short. Live passionately.
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VituVingiSana
#7 Posted : Thursday, December 09, 2010 11:26:34 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
So... perhaps in @YouKnowWho view KPLC should have not have had a Rights Offer...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Tommy
#8 Posted : Friday, December 10, 2010 6:42:18 AM
Rank: Veteran

Joined: 12/9/2010
Posts: 894
Location: Nairobi
uchumi has remained a financial trap 4 many and its relisting is eagerly awaited by many(even non shareholders). i would wish that the company meets the statutory requirements b4 its relisting.
Don't wait for the Last Judgment. It happens every day. ~Albert Camus, The Fall, 1956
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qw25041985
#9 Posted : Friday, December 10, 2010 8:17:46 AM
Rank: User

Joined: 5/9/2010
Posts: 1,418
Location: Nai
i totally agree uchumi has been a financial trap. On relisting i expect the price to fall considerably as the wanjiku investors want out of this stock.
Yet again Uchumi is a BUY in our improving economy because as the economy is improving people have cash to spend on goods .And this is good for uchumi.the company has a good branch network.
I am pretty much keen on its listing and as long as fundermentals ( which are good) havent changed you guyz shld take a serious look @ this company.
Your future depends on your dreams so go to sleep !
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sparkly
#10 Posted : Friday, December 10, 2010 8:41:21 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
qw25041985 wrote:
Yet again Uchumi is a BUY in our improving economy...

@qw what do you think is the fair price for uchumi. If it relisted today at 10/- that might be a buy, but i doubt 30/- would be a buy.
Life is short. Live passionately.
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