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Mumias FY 2014
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HaMaina
#81 Posted : Monday, September 29, 2014 9:54:34 AM
Rank: Veteran

Joined: 4/23/2014
Posts: 931
I don't remember reading this article. There have been a lot of talk of a rights issue but never a specific company to be bought. http://www.theeastafrica.../0/-/70n0rc/-/index.html
“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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VituVingiSana
#82 Posted : Monday, October 06, 2014 2:31:09 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,351
Location: Nairobi
More bad news for Mumias

http://www.businessdaily...6/-/8t7pq9/-/index.html

Comesa will not extend Kenya sugar quota

“So far, we have accorded Kenya three extensions, which have gone past required limits of two safeguard periods. And all along, there is not much that the sector has achieved in line with the requirements,” said Mr Lipimile.

This implies that local millers will have to grapple with the presence of low cost sugar from Comesa countries, which will make Kenyan sugar uncompetitive in the market.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mlennyma
#83 Posted : Monday, October 06, 2014 6:45:57 AM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
Its lifting of comesa safeguards which will hammer mumias last nail to the coffin
"Don't let the fear of losing be greater than the excitement of winning."
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HaMaina
#84 Posted : Monday, October 06, 2014 9:02:01 AM
Rank: Veteran

Joined: 4/23/2014
Posts: 931
mlennyma wrote:
Its lifting of comesa safeguards which will hammer mumias last nail to the coffin


Question is what will Mumias and the Government do to cushion the fall, if there is one in the first place ??

Sad Sad Sad Sad Sad Sad Sad Sad Sad
“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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edwinmukiri
#85 Posted : Monday, October 06, 2014 9:15:22 AM
Rank: New-farer

Joined: 8/11/2014
Posts: 72
Location: Nairobi
All signs indicate that Mumias has no future in Kenya... its a no go zone for me
Bulls make money,bears make money and pigs get slaughtered.
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mlennyma
#86 Posted : Monday, October 06, 2014 10:16:35 AM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
We either withdraw from the comesa trading agreement or accept the lifting,comesa is bigger than one cry baby called mumias
"Don't let the fear of losing be greater than the excitement of winning."
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Aguytrying
#87 Posted : Monday, October 06, 2014 10:51:01 AM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
Lifting of comesa rules is the shot it the arm that GK needs to streamline the sugar sector, dark days between then and the reforms
The investor's chief problem - and even his worst enemy - is likely to be himself
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VituVingiSana
#88 Posted : Monday, October 06, 2014 10:58:24 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,351
Location: Nairobi
Withdrawing from COMESA is a no-no as we (attempt) become an industrial powerhouse in this region. Let Mumias (and others suffer) so they are forced to become efficient while we encourage other (food) crops we can export to the the region.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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actuarywahisa
#89 Posted : Monday, October 06, 2014 12:50:34 PM
Rank: Member

Joined: 5/21/2014
Posts: 184
VituVingiSana wrote:
Withdrawing from COMESA is a no-no as we (attempt) become an industrial powerhouse in this region. Let Mumias (and others suffer) so they are forced to become efficient while we encourage other (food) crops we can export to the the region.



I agree. Law of Natural Selection. If you can't keep up, kufa pole pole bila kelele nyingi! GoK would be forced to intervene instead of standing by and watch Kenyans in the sugar belt go jobless (Though I'm sure they'd adapt)!!

This is not just a Mumias Sugar issue. It's a Sugar industry Issue.Mumias is in a very tight spot. I think apart from the issue with the illegal sugar imports by it's former management, a lot of their problems are actually external (and macro in nature) and it will take more than just them to fix it.

What options exist apart from Short term cutting of expenses? Subsidy (During this time when GoK is cash hungry)? Diversification (Into real estate in the footsteps of "The Monkey" smile and others) and focus on widening their revenue base in general going forward? This tunnel bana?

I'd say good counter though for speculation because of volumes available and Price.
There are too many opportunities all around. Open your eyes and maybe you'll spot one
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Njung'e
#90 Posted : Monday, October 06, 2014 1:21:04 PM
Rank: Elder

Joined: 2/7/2007
Posts: 11,935
Location: Nairobi
Comesa threat to Kenyan sugar industry is one big fallacy.If i may,is there a country in Africa that is a net exporter of sugar other than Mauritius?
Nothing great was ever achieved without enthusiasm.
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