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UNGA GROUP RETRENCHINGG
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Atoti78
#1 Posted : Tuesday, October 06, 2009 8:40:00 PM
Rank: Member


Joined: 10/7/2009
Posts: 1
Hi stockers,What could be happening to our oldest miller in Kenya. i hear it is down sizing.
Could Unga ltd be facing unnecessary competition from smaller millers who have recent machines that consumes less power and produces a better quality flour and are cheaper?
Or what don't we know?

I have some shares and i'm not sure what to do with them as the price has stagnated for so long.
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VituVingiSana
#2 Posted : Tuesday, October 06, 2009 10:38:00 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,099
Location: Nairobi
1) Cud be a case of being more efficient thus they need fewer workers (EABL did that many years ago) but unlikely. 2) They are screwed as they get undercut by others.

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Moibutu
#3 Posted : Wednesday, October 07, 2009 5:34:00 AM
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Joined: 9/12/2008
Posts: 58
Where did you get this info from? Am interested being a small shareholder in the company. Well the company has been underperforming but at least it has posted positive results.


die trying
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Kamaa
#4 Posted : Wednesday, October 07, 2009 6:35:00 AM
Rank: Veteran


Joined: 10/6/2007
Posts: 1,177
Location: Nairobi - Kenya
thought FKE said that there would be no more job losses...!

When you run so fast to get somewhere,you miss the fun of getting there... Life is not a race,so take it slowly....
When you hear what I say, you will not understand. When you see what I do, you will not comprehend
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Mainat
#5 Posted : Wednesday, October 07, 2009 7:05:00 AM
Rank: Veteran


Joined: 11/21/2006
Posts: 1,590
I a not sure why you are surprised Unga is retenching. As per its AR,Unga's profits halved despite one of the best conditions for it to profit i.e. the maize drought of 08 and 09.

www.mjengakenya.blogspot.com
Sehemu ndio nyumba
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VituVingiSana
#6 Posted : Wednesday, October 07, 2009 7:49:00 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,099
Location: Nairobi
@mainaT: maize is not a free market in Kenya... Unga was not allowed to import maize (at first) when the shortages started. Then they had to compete with kibor (friends of ruto) for stocks from NCPB. NCPB 'allocations' were first to ruto+friends,then connected millers,briefcase milelrs,then Unga...

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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skodhe
#7 Posted : Wednesday, October 07, 2009 7:52:00 AM
Rank: Member


Joined: 2/3/2009
Posts: 112



Nick Name:
Atoti78


Town/ City:
KISUMU


Province:
NYANZA


Country:
Kenya


Investment status:
Active investor


Chief investment advisor:
My broker/ agent


Industry:
Accounting / Finance


Registered date:
Tuesday,October 06,2009


Forum posts:
1 contributions




Sleeping like a little baby
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Kaigangio
#8 Posted : Wednesday, October 07, 2009 8:52:00 AM
Rank: Elder


Joined: 2/27/2007
Posts: 2,768
the way i see it is that the milling business is mainly controlled by the big shots who would like to see Unga dead and turning in its grave...the competition between it and other millers is actually not on a level ground,while the gonvernment is giving it too little attention in terms of favourable waivers....

NEVER TALK OF A RHINO IF THERE IS NO TREE NEAREBY - ZULU PROVERB
...besides, the presence of a safe alone does not signify that there is money inside...
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Kaigangio
#9 Posted : Wednesday, October 07, 2009 8:52:00 AM
Rank: Elder


Joined: 2/27/2007
Posts: 2,768
the way i see it is that the milling business is mainly controlled by the big shots who would like to see Unga dead and turning in its grave...the competition between it and other millers is actually not on a level ground,while the gonvernment is giving it too little attention in terms of favourable waivers....

NEVER TALK OF A RHINO IF THERE IS NO TREE NEAREBY - ZULU PROVERB
...besides, the presence of a safe alone does not signify that there is money inside...
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Kaigangio
#10 Posted : Wednesday, October 07, 2009 8:53:00 AM
Rank: Elder


Joined: 2/27/2007
Posts: 2,768
the way i see it is that the milling business is mainly controlled by the big shots who would like to see Unga dead and turning in its grave...the competition between it and other millers is actually not on a level ground,while the gonvernment is giving it too little attention in terms of favourable waivers....

NEVER TALK OF A RHINO IF THERE IS NO TREE NEAREBY - ZULU PROVERB
...besides, the presence of a safe alone does not signify that there is money inside...
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FundamentAli
#11 Posted : Wednesday, October 07, 2009 8:54:00 AM
Rank: Veteran


Joined: 11/4/2008
Posts: 1,289
Location: Nairobi
Why kill it when you can buy it cheaply?

Baada ya dhiki,faaraja
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jerry
#12 Posted : Wednesday, October 07, 2009 9:21:00 AM
Rank: Elder


Joined: 9/29/2006
Posts: 2,570
Those killing it perceive it as an enemy. They have their own which they can't kill in favour of Unga.

Crocodile tears: If you can't assist me when I'm alive en you attend my funeral.
The opposite of courage is not cowardice, it's conformity.
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slicky d
#13 Posted : Wednesday, October 07, 2009 1:00:00 PM
Rank: Member


Joined: 10/6/2006
Posts: 22
LET US ANSWER THE QUESTION. THE GUY SAID HE HEARD LIKE UNGA IS RETRENCHING. So IS UNGA RETRENCHING OR NOT?


The stock market is not for the faint hearted. The US market has had over 50 market corrections in 70 years
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