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Centum pays out KSH 1 billion to employees
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Zoori
#141 Posted : Wednesday, September 23, 2015 1:07:32 PM
Rank: Hello

Joined: 6/5/2015
Posts: 9
dunkang wrote:
As i said earlier on in this thread, this is an ENRON waiting to happen. The same same 2001 ENRON script been played out again, in front of our eyes, in 2015.

The main characteristics of ENRON were;

- had various Limited Liability Special Purpose Vehicles - (This helped in looting as well as hide liabilities),

- Highly decorated and rewarded Company and Managers (Was named Most Innovative Company for 6 straight years - 1996 to 2001)

-Employees were highly compensated year-in year-out and hence ENRON was "THE BEST COMPANY TO WORK FOR" (1996-2000)

- Auditors, reporters etc were "encouraged" to present the firm in "GOOD PICTURE"

- ENRON was a "Trade Anything" company. From Energy to Papers.


ORGANISATIONAL FRAUD TRIANGLE



I concur, very insightful
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ngapat
#142 Posted : Wednesday, September 23, 2015 6:05:20 PM
Rank: Veteran

Joined: 12/11/2006
Posts: 930
In this Centum case, the assets belong to shareholders but cash from assets belong to employees.

Employees here are behaving like asset managers who are paid a commission for their work. I think they should forfeit their salaries we just have them as asset managers
“Invest in yourself. Your career is the engine of your wealth.”
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Horton
#143 Posted : Wednesday, September 23, 2015 8:31:14 PM
Rank: Veteran

Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
As some of us try and convince others why Centum is not a buy, it slowly creeps up. Reminds me of the so-called "real estate bubble" in Kenya. I keep hearing there is a bubble and its been 10years since I heard this term first. Its actually the opposite effect. Call me a contrarian good thing I didnt heed their advice then!
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  | | Edit by user: Wednesday, September 23, 2015 8:32 PM | Reason: Not specified
mv_ufanisi
#144 Posted : Thursday, September 24, 2015 12:26:20 AM
Rank: Member

Joined: 1/15/2010
Posts: 625
Horton wrote:
As some of us try and convince others why Centum is not a buy, it slowly creeps up. Reminds me of the so-called "real estate bubble" in Kenya. I keep hearing there is a bubble and its been 10years since I heard this term first. Its actually the opposite effect. Call me a contrarian good thing I didnt heed their advice then!


There is a clear conflict in Centum. The share might go up in the short/medium term but the long term is clearly at risk with such a structure. This makes this stock much more risky even though you might enjoy short term benefits. It's similar to someone driving from Nairobi to Mombasa at 200kph and claiming that the rest of the drivers are too slow/non performing. He might save on time but the long term future of such a driver is at jeopardy.
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sparkly
#145 Posted : Thursday, September 24, 2015 6:36:41 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
mv_ufanisi wrote:
Horton wrote:
As some of us try and convince others why Centum is not a buy, it slowly creeps up. Reminds me of the so-called "real estate bubble" in Kenya. I keep hearing there is a bubble and its been 10years since I heard this term first. Its actually the opposite effect. Call me a contrarian good thing I didnt heed their advice then!


There is a clear conflict in Centum. The share might go up in the short/medium term but the long term is clearly at risk with such a structure. This makes this stock much more risky even though you might enjoy short term benefits. It's similar to someone driving from Nairobi to Mombasa at 200kph and claiming that the rest of the drivers are too slow/non performing. He might save on time but the long term future of such a driver is at jeopardy.


Well said. Centum growing its NAV at 30% PA compounded while economy is growing at 6% is suspect.
Life is short. Live passionately.
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Horton
#146 Posted : Thursday, September 24, 2015 7:49:40 AM
Rank: Veteran

Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
As I was told on another forum, I shall remind someone here to eat their words in future. Make sure you have a dasani bottle next to u (a product of one of Centums investments)
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sparkly
#147 Posted : Thursday, September 24, 2015 11:44:35 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Horton wrote:
As I was told on another forum, I shall remind someone here to eat their words in future. Make sure you have a dasani bottle next to u (a product of one of Centums investments)


smile
Smart people like yourself will make money from Centum. Suckers who blindly buy into the above normal perpetual NAV growth will lose money when the house of cards come tumbling down.
Life is short. Live passionately.
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kryptonite
#148 Posted : Friday, September 25, 2015 8:48:38 AM
Rank: Member

Joined: 2/1/2010
Posts: 272
Location: Nairobi
sparkly wrote:
Horton wrote:
As I was told on another forum, I shall remind someone here to eat their words in future. Make sure you have a dasani bottle next to u (a product of one of Centums investments)


smile
Smart people like yourself will make money from Centum. Suckers who blindly buy into the above normal perpetual NAV growth will lose money when the house of cards come tumbling down.



I have enjoyed this thread, so here's more wood for the fire...

The DJ ups his stake
The harder you work, the luckier you get
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mv_ufanisi
#149 Posted : Friday, September 25, 2015 10:12:48 AM
Rank: Member

Joined: 1/15/2010
Posts: 625
Two Centum stories on the Business Daily today.
1.The DJ Ups his stake
2. Looking for a new plant manager

Makes you wonder if Business Daily has opened a representative office in Centum.

No other company gets this much coverage.
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Othelo
#150 Posted : Friday, September 25, 2015 10:16:49 AM
Rank: User

Joined: 1/20/2014
Posts: 3,528
mv_ufanisi wrote:
Two Centum stories on the Business Daily today.
1.The DJ Ups his stake
2. Looking for a new plant manager

Makes you wonder if Business Daily has opened a representative office in Centum.

No other company gets this much coverage.

Remember Uchumi expansion a decade ago and the beautiful stories then. Same script, same players!!!
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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