Wazua
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Centum HY17
Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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mulla wrote:K22 wrote:Mworia just tweeted saying this is total payout for management team. apparently BD misreported some of our journalists and their rush to print sensational headlines without thorough research in order to sell papers  They should listen to this song where snoop dogg talks about using his style Snoop Dogg - Doggy Dogg World ft. Tha Dogg Pound, Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Hello Joined: 6/14/2016 Posts: 6 Location: Nairobi
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watesh wrote:He is making more than Bob Collymore yet Centum's revenues is half of Safaricom's SMS revenues.... I thought Wazuans are more polished and read financial reports and not newspaper headlines.... http://www.centum.co.ke/...s/Annual_Report_2017.pdf
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Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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BusinessDaily AfricaVerified account @BD_Africa 50m50 minutes ago Our reading of the Centum financials clearly shows that Sh375.6M is the CEO’s annual pay. We stand by our story. http://www.businessdaily...3952-xxxeuaz/index.html … Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: New-farer Joined: 4/13/2017 Posts: 12
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tedx wrote:watesh wrote:[quote=Pesa Nane]  He is making more than Bob Collymore yet Centum's revenues is half of Safaricom's SMS revenues.... I thought Wazuans are more polished and read financial reports and not newspaper headlines.... http://www.centum.co.ke/.../Annual_Report_2017.pdf[/quote] Please explain it to us. The financial report you have shared above notes that: 1. 375.6m of the Director's remuneration was to "key members of management". Presumably the members of management who also serve as Director's i.e Executive Director's 2. Centum has only one Executive Director, James Mworia. Does it not then mean that it was Mworia who got the 375.6m?
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Rank: Hello Joined: 6/14/2016 Posts: 6 Location: Nairobi
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timuka2 wrote:tedx wrote:watesh wrote:[quote=Pesa Nane] He is making more than Bob Collymore yet Centum's revenues is half of Safaricom's SMS revenues.... I thought Wazuans are more polished and read financial reports and not newspaper headlines.... http://www.centum.co.ke/.../Annual_Report_2017.pdf[/quote] Please explain it to us. The financial report you have shared above notes that: 1. 375.6m of the Director's remuneration was to "key members of management". Presumably the members of management who also serve as Director's i.e Executive Director's 2. Centum has only one Executive Director, James Mworia. Does it not then mean that it was Mworia who got the 375.6m? If you can't read then I can't help buddy.... 
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Rank: Member Joined: 8/27/2015 Posts: 138 Location: Harare
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He's the only company Exec. Dir. so the KES 211,483M (~$2.1MM) on note 12.1(iv) on pg. 232 is the correct amount. Close to KES 150MM ($1.5MM) less than BD's figure but by any means quite decent and deserved. Investment philosophy development in progress...
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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alotoftalk wrote:He's the only company Exec. Dir. so the KES 211,483M (~$2.1MM) on note 12.1(iv) on pg. 232 is the correct amount. Close to KES 150MM ($1.5MM) less than BD's figure but by any means quite decent and deserved. Pesa Nane plans to be shilingi when he grows up.
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Rank: Member Joined: 4/14/2010 Posts: 806 Location: Nairobi
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For those who dont like the pay (me included) there is one swahili saying: mta-do?
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Rank: Elder Joined: 12/7/2012 Posts: 11,901
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Pesa Nane wrote:alotoftalk wrote:He's the only company Exec. Dir. so the KES 211,483M (~$2.1MM) on note 12.1(iv) on pg. 232 is the correct amount. Close to KES 150MM ($1.5MM) less than BD's figure but by any means quite decent and deserved. What about subsidiaries..... In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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 Pesa Nane plans to be shilingi when he grows up.
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Rank: Veteran Joined: 8/16/2009 Posts: 994
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Net repayments in cash includes 2.9B to Floating Note holders and 3B to RMB. All this totals 5.9B. New borrowings from RMB is 5B. This means the company repaid only 0.9B from its own reserves not including the dilutive 1.3B equity linked note holders who were paid in shares. But yes they repaid 7.2B but not from internally generated funds as asserted. Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Gatheuzi wrote:Net repayments in cash includes 2.9B to Floating Note holders and 3B to RMB. All this totals 5.9B. New borrowings from RMB is 5B. This means the company repaid only 0.9B from its own reserves not including the dilutive 1.3B equity linked note holders who were paid in shares. But yes they repaid 7.2B but not from internally generated funds as asserted. C&P Quote:A rich tourist comes to town. He enters the only hotel, lays a 100 dollar bill on the reception counter, and goes to inspect the rooms upstairs in order to pick one.
The hotel proprietor takes the 100 dollar bill and runs to pay his debt to the butcher. The Butcher takes the 100 dollar bill and runs to pay his debt to the pig raiser. The pig raiser takes the 100 dollar bill and runs to pay his debt to the supplier of his feed and fuel. The supplier of feed and fuel takes the 100 dollar bill and runs to pay his debt to the town’s prostitute that, in these hard times, gave her “services” on credit. The hooker runs to the hotel, and pays off her debt with the 100 dollar bill to the hotel proprietor to pay for the rooms that she rented when she brought her clients there.
The hotel proprietor then lays the 100 dollar bill back on the counter. At that moment, the rich tourist comes down after inspecting the rooms, and takes his 100 dollar bill, after saying he did not like any of the rooms, and leaves town.
No one earned anything. However, the whole town is now without debt, and looks to the future with a lot of optimism. Pesa Nane plans to be shilingi when he grows up.
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Rank: Member Joined: 2/1/2010 Posts: 272 Location: Nairobi
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Pesa Nane wrote:Gatheuzi wrote:Net repayments in cash includes 2.9B to Floating Note holders and 3B to RMB. All this totals 5.9B. New borrowings from RMB is 5B. This means the company repaid only 0.9B from its own reserves not including the dilutive 1.3B equity linked note holders who were paid in shares. But yes they repaid 7.2B but not from internally generated funds as asserted. C&P Quote:A rich tourist comes to town. He enters the only hotel, lays a 100 dollar bill on the reception counter, and goes to inspect the rooms upstairs in order to pick one.
The hotel proprietor takes the 100 dollar bill and runs to pay his debt to the butcher. The Butcher takes the 100 dollar bill and runs to pay his debt to the pig raiser. The pig raiser takes the 100 dollar bill and runs to pay his debt to the supplier of his feed and fuel. The supplier of feed and fuel takes the 100 dollar bill and runs to pay his debt to the town’s prostitute that, in these hard times, gave her “services” on credit. The hooker runs to the hotel, and pays off her debt with the 100 dollar bill to the hotel proprietor to pay for the rooms that she rented when she brought her clients there.
The hotel proprietor then lays the 100 dollar bill back on the counter. At that moment, the rich tourist comes down after inspecting the rooms, and takes his 100 dollar bill, after saying he did not like any of the rooms, and leaves town.
No one earned anything. However, the whole town is now without debt, and looks to the future with a lot of optimism.  Very apt analogy The harder you work, the luckier you get
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Rank: Member Joined: 8/27/2015 Posts: 138 Location: Harare
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This 35% mark-down (KES 1.6 B) of their holding in Isuzu EA (formerly GMEA) is worrying. Despite the fact that Centum has had some very good exits of historical assets (KWAL, UAP etc.), it begs the question of which other 'PE' type assets in their current portfolio are over-valued? http://www.businessdaily...100190-qx8ii8/index.htmlInvestment philosophy development in progress...
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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[quote=alotoftalk]This 35% mark-down (KES 1.6 B) of their holding in Isuzu EA (formerly GMEA) is worrying. Despite the fact that Centum has had some very good exits of historical assets (KWAL, UAP etc.), it begs the question of which other 'PE' type assets in their current portfolio are over-valued? http://www.businessdaily...00190-qx8ii8/index.html[/quote] Not bad at all...real estate portfolio is the crown in the jewel now...still more value to be realised
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Rank: Member Joined: 8/27/2015 Posts: 138 Location: Harare
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the deal wrote:[quote=alotoftalk]This 35% mark-down (KES 1.6 B) of their holding in Isuzu EA (formerly GMEA) is worrying. Despite the fact that Centum has had some very good exits of historical assets (KWAL, UAP etc.), it begs the question of which other 'PE' type assets in their current portfolio are over-valued? http://www.businessdaily...00190-qx8ii8/index.html[/quote] Not bad at all...real estate portfolio is the crown in the jewel now...still more value to be realized Real estate is the crown jewel and the one with obvious upside (for now) but there are substantial assets in Almasi (KES 9.56 NAV), Nairobi Bottlers (KES 6.27 NAV), Sidian (KES 3.88 NAV) etc. With their current "developer of investment grade assets" model, the mark-down is not the best news. It puts more pressure on Centum when trying to justify their internal valuations to potential investors/JV partners. Investment philosophy development in progress...
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Rank: Elder Joined: 6/23/2009 Posts: 13,472 Location: nairobi
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alotoftalk wrote:the deal wrote:[quote=alotoftalk]This 35% mark-down (KES 1.6 B) of their holding in Isuzu EA (formerly GMEA) is worrying. Despite the fact that Centum has had some very good exits of historical assets (KWAL, UAP etc.), it begs the question of which other 'PE' type assets in their current portfolio are over-valued? http://www.businessdaily...00190-qx8ii8/index.html[/quote] Not bad at all...real estate portfolio is the crown in the jewel now...still more value to be realized Real estate is the crown jewel and the one with obvious upside (for now) but there are substantial assets in Almasi (KES 9.56 NAV), Nairobi Bottlers (KES 6.27 NAV), Sidian (KES 3.88 NAV) etc. With their current "developer of investment grade assets" model, the mark-down is not the best news. It puts more pressure on Centum when trying to justify their internal valuations to potential investors/JV partners. Isuzu, Sidian and Two Rivers are all borderline white elephants in terms of valuation
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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[quote=alotoftalk]This 35% mark-down (KES 1.6 B) of their holding in Isuzu EA (formerly GMEA) is worrying. Despite the fact that Centum has had some very good exits of historical assets (KWAL, UAP etc.), it begs the question of which other 'PE' type assets in their current portfolio are over-valued? http://www.businessdaily...00190-qx8ii8/index.html[/quote] Those staff bonuses are based on NAV added. Life is short. Live passionately.
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Rank: Member Joined: 2/1/2010 Posts: 272 Location: Nairobi
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sparkly wrote:[quote=alotoftalk]This 35% mark-down (KES 1.6 B) of their holding in Isuzu EA (formerly GMEA) is worrying. Despite the fact that Centum has had some very good exits of historical assets (KWAL, UAP etc.), it begs the question of which other 'PE' type assets in their current portfolio are over-valued? http://www.businessdaily...00190-qx8ii8/index.html[/quote] Those staff bonuses are based on NAV added. You've hit the nail on the head @sparkly The harder you work, the luckier you get
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Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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The Two Rivers Investment is undertaken by listed Kenyan company, Centum Group; China National Aero-Technology International Engineering Corporation and Jiangxi Water and Hydropower Construction Co. ltd (JWHC) have jointly invested 38.89 percent stake. Upon completion, the investment would cost 800 million U.S. dollars, covering 400,000 square metres of land, covered with retail shops and with a capacity of 50,000 shoppers. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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