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Mumias FY 2014
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Realtreaty
#311 Posted : Monday, February 02, 2015 1:01:44 AM
Rank: Elder

Joined: 8/16/2011
Posts: 2,387
How Uhuru brokered Sh500m Mumias bailout
The Treasury’s decision to bail out ailing Mumias Sugar Company on Friday was the result of President Uhuru Kenyatta’s intervention that sought to stave off a looming economic and political fallout from the impending collapse of Kenya’s biggest sugar miller....
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S.Mutaga III
#312 Posted : Monday, February 02, 2015 1:21:29 AM
Rank: Member

Joined: 3/26/2012
Posts: 830
Some investors who bought at <2 must have been privy of the government's bailout. Nothing else can explain the logic behind buying an insolvent company
A successful man is not he who gets the best, it is he who makes the best from what he gets.
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HaMaina
#313 Posted : Monday, February 02, 2015 7:51:49 AM
Rank: Veteran

Joined: 4/23/2014
Posts: 931
Realtreaty wrote:
How Uhuru brokered Sh500m Mumias bailout
The Treasury’s decision to bail out ailing Mumias Sugar Company on Friday was the result of President Uhuru Kenyatta’s intervention that sought to stave off a looming economic and political fallout from the impending collapse of Kenya’s biggest sugar miller....

Good Morning, is there a link to this story?
“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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HaMaina
#314 Posted : Monday, February 02, 2015 7:54:48 AM
Rank: Veteran

Joined: 4/23/2014
Posts: 931
HaMaina wrote:
Realtreaty wrote:
How Uhuru brokered Sh500m Mumias bailout
The Treasury’s decision to bail out ailing Mumias Sugar Company on Friday was the result of President Uhuru Kenyatta’s intervention that sought to stave off a looming economic and political fallout from the impending collapse of Kenya’s biggest sugar miller....

Good Morning, is there a link to this story?


Its ok I found it thanks.

http://www.businessdaily...8/-/fylg0y/-/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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nzomah1
#315 Posted : Monday, February 02, 2015 8:56:35 AM
Rank: New-farer

Joined: 10/24/2014
Posts: 14
even with the bailout i dont see how this company eventually survives. Ugandans have been allowed to bring in their cheap sugar. Better exercise caution on this one before y
ou get your hands burnt
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Mainat
#316 Posted : Monday, February 02, 2015 9:09:52 AM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
The 500m is equivalent to what MSC is paying in interest every year
Sehemu ndio nyumba
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mlennyma
#317 Posted : Monday, February 02, 2015 9:24:33 AM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
Mainat wrote:
The 500m is equivalent to what MSC is paying in interest every year

but its good news for speculative trading
"Don't let the fear of losing be greater than the excitement of winning."
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Othelo
#318 Posted : Monday, February 02, 2015 9:34:50 AM
Rank: User

Joined: 1/20/2014
Posts: 3,528
mlennyma wrote:
Mainat wrote:
The 500m is equivalent to what MSC is paying in interest every year

but its good news for speculative trading

I thought 500m to rescue MSC was a drop in the ocean. Lakini in the short run let people make money!
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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HaMaina
#319 Posted : Monday, February 02, 2015 9:42:14 AM
Rank: Veteran

Joined: 4/23/2014
Posts: 931
Othelo wrote:
mlennyma wrote:
Mainat wrote:
The 500m is equivalent to what MSC is paying in interest every year

but its good news for speculative trading

I thought 500m to rescue MSC was a drop in the ocean. Lakini in the short run let people make money!


A quote from the link. http://www.businessdaily...8/-/fylg0y/-/index.html

Mr Kenyatta was, however, clear that any relief from the government must come with a clear turnaround strategy to safeguard public funds.

The bailout announced on Friday, however, represents only a fraction of what the miller’s management and the 16 leaders from western Kenya had asked for at the crisis meeting.

READ: Top executives to lose jobs as govt offers bailout to Mumias

Mr Savula said that the group had requested for a Sh2.4 billion cash injection to be disbursed in several tranches. It is therefore expected that the balance will be released in the next two months.
“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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koxwex
#320 Posted : Monday, February 02, 2015 11:07:44 AM
Rank: New-farer

Joined: 9/12/2014
Posts: 22
Location: Nairobi
govt to inject 500m deliberate on kplc dept, unpaid kra tax and the comesa thing , 300m from county govt to pay farmers, directors restructuring is on path whats remaining is suppliers cash, cane improvement, recapture market, public confidence and return to profitability.
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