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Fountain Enterprises Programme - FEP
Bigchick
#161 Posted : Saturday, July 25, 2015 9:20:14 PM
Rank: Elder

Joined: 2/8/2013
Posts: 4,068
Location: At Large.
BGL wrote:
I have the annual report for FY 2013.



@BGL going thru this thread I note you were a great supporter but your enthusiasm waned along the way.

What went wrong in your opinion?Or is it just unfulfilled expectations?
I need to give my aunt feedback and maybe stop badmouthing FEP which am currently doing.
Love is beautiful and so are those who share it.With Love, Marriage is an amazing event in ones life time, the foundation of joy, happiness and success.
newfarer
#162 Posted : Saturday, July 25, 2015 9:42:07 PM
Rank: Elder

Joined: 3/19/2010
Posts: 3,505
Location: Uganda
BGL wrote:
I have the annual report for FY 2013.

See, here people are arguing like in a fish market, without facts even some very respectful people in the blue section. Thanks Bgl, so it's heresay and malicious to say that the agm was held without annual statements.that is settled. Now what makes fep a scam?

Has any one lost their money since they joined fep and how? What action have they taken?

@Aemathenge what is your word to@ bigchick and other interested wazuans you seem to have given this topic a wide berth ?
punda amecheka
BGL
#163 Posted : Saturday, July 25, 2015 10:24:22 PM
Rank: Veteran

Joined: 10/11/2009
Posts: 1,223
........ I wrote off this investment a month ago..........
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
murchr
#164 Posted : Sunday, July 26, 2015 12:34:15 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
BGL wrote:
I have the annual report for FY 2013.


Did they send it to you? Why are the reports not available for those who want to join in ama you get in by faith?
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
aemathenge
#165 Posted : Sunday, July 26, 2015 12:54:12 AM
Rank: Elder

Joined: 10/18/2008
Posts: 3,434
Location: Kerugoya
newfarer wrote:
BGL wrote:
I have the annual report for FY 2013.

See, here people are arguing like in a fish market, without facts even some very respectful people in the blue section. Thanks Bgl, so it's heresay and malicious to say that the agm was held without annual statements.that is settled. Now what makes fep a scam?

Has any one lost their money since they joined fep and how? What action have they taken?

@Aemathenge what is your word to@ bigchick and other interested wazuans you seem to have given this topic a wide berth ?


@Newfarer, I am loath to comment or give information I cannot verify.

Between 2008 and November 2012, I was an employee, a Branch Administrator for Kirinyaga Branch.

I was a bad bad boy and they did the best thing under the circumstances which was relieve me of my duties.

As a Branch Administrator, I had free access to anyone or any information and could therefore speak (Post on threads here) with total confidence.

I cannot do that now. I have no access. I am, however, still a member of FEP Sacco Society Ltd. I receive my dividend every year and I currently have a loan.

When I left, the group of companies was solid according to the plan and vision I had been given. As such, I am a spectator like everyone else.
BGL
#166 Posted : Sunday, July 26, 2015 1:02:27 AM
Rank: Veteran

Joined: 10/11/2009
Posts: 1,223
newfarer wrote:
murchr wrote:
newfarer wrote:
murchr wrote:
newfarer wrote:
Bigchick wrote:
murchr wrote:
Bigchick wrote:
I went visiting my aunt and in the course of our talks she brought up the topic of FEP. Introducing me to it.

I told her I have heard about it but its said to be a scam.Appperently she has invested about 100k in it.

Someone please tell me exactly what the issues are so that I share with her.
Meanwhile she received her certificates yesturday and to her that is proof that all is well.



You may need to read the whole thread


I have read the whole thread but it has nothing specific.It has the "If it walks like a duck......"cautious statements but nothing saying this is what is wrong.

I have seen some of their investments like Kisima estate,their mobikash and hotel in Embu.That they are not yet making money does not mean they are a scam.

NB.I wont invest in them though.I met one of their managers and was not impressed.

Me too, can't see anything specific. This is unlike the wazua we normally get links. More of. Muchene than reality. Somebody give us real fact that fep is a scam. Has anyone here actually lost his money through fep and how did it happen, what action did he take?


Couldn't we be actually giving them pubicity, ie free advertisement?


At the end of every financial year, every legitimate business including a kiosk will show their financial statements - Balance sheet, and income statement. Even when they are making losses due to capital expenditure. Has your aunt received any of these since she joined?

Kisima estate. The last time I heard that they were building a housing estate--that was in 2010 or there about...Have they sold any? Have you seen any house sold in Lukenya? What guarantee do you have about Tai housing?



I read that they held an agm last year on this thread , they did it without annual accounts?


Yes.


BGL wrote:
I managed to attend the FEP AGM at Hotel Suntec - SAGANA

The AGM business started 3hrs late and the CEO and Chairman read through their entire written report.
-Job Kihumba of STANDARD INVESTMENT BANK (SIB) will be responsible for the OTC market which will be operational by August 2014.
-A rights issue is on the works and 420million ordinary shares will be offered to investors via a PRIVATE private offer. SIB are the lead transaction advisers and are working on the information memorandum. If the existing shareholders cannot take up all the 420mn shares on offer, other shareholders will be INVITED to participate. To be eligible to participate you will first and foremost be a CHRISTIAN.
-All FEP shareholders will get shares in fountain DTM once the license is issued.... there will be another AGM to ratify the same.
-FEP shareholders should visit any FEP office 7 days post AGM to verify their details before the share certificates are printed or fill in some shareholder details forms available at the AGM venue
-The net profit arising from operations was 22.7mn from 16.9mn last year. However the total comprehensive income reported is 1.17bn as a result of value gain in investment property.
-Shareholder funds grew from 1.62bn to 3.71bn this year
-What made shareholders happy was the two bonus share for every share held. The annual report and financial statements were provided during the meeting which was an ambush as we did not have time to go through them. Likewise the articles of association which only the management knew about.

I will post the photos of the hotel in due course.

Where did Bgl get these figures

History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
newfarer
#167 Posted : Sunday, July 26, 2015 10:20:32 PM
Rank: Elder

Joined: 3/19/2010
Posts: 3,505
Location: Uganda
BGL wrote:
........ I wrote off this investment a month ago..........

Reasons being?
punda amecheka
BGL
#168 Posted : Monday, July 27, 2015 10:00:54 PM
Rank: Veteran

Joined: 10/11/2009
Posts: 1,223
newfarer wrote:
BGL wrote:
........ I wrote off this investment a month ago..........

Reasons being?


There comes a time when the story of bamboo trees and vitendawili is no longer VIABLE ............by now FEP bank should be the biggest bank in Kenya......as per the STUPID narrative.

HECK! they even sacked by brother @aemathenge.
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
newfarer
#169 Posted : Wednesday, July 29, 2015 6:16:25 AM
Rank: Elder

Joined: 3/19/2010
Posts: 3,505
Location: Uganda
BGL wrote:
newfarer wrote:
BGL wrote:
........ I wrote off this investment a month ago..........

Reasons being?


There comes a time when the story of bamboo trees and vitendawili is no longer VIABLE ............by now FEP bank should be the biggest bank in Kenya......as per the STUPID narrative.

HECK! they even sacked by brother @aemathenge.

Well that story of biggest bank by 2016 was more of daydream and big talk and ill advised. If they can scale down their promises and instead exceed investors expectations I still can't see why they are a scam. A scam sells HOT air, they seem to have some products which can turn profitable.

As for aemathenge, he has confessed that he was a bad boy, what that means, he knows better.

punda amecheka
Kanpat
#170 Posted : Wednesday, July 29, 2015 6:05:41 PM
Rank: Hello

Joined: 7/29/2015
Posts: 5
I thought 2015 was when the bank was to open and not to be the biggest bank?
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