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the deal		#71 Posted : Wednesday, May 02, 2018 8:08:54 PM
Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery		Horton wrote: obiero wrote: the deal wrote: Balance Sheet looks opaque to me!Given the business they're in...they could be playing with fire here....they should have spun off they're real estate portfolio and listed it as a REIT...but I guess they dont want too much scrutiny from the regulator. This thing looks like Lehman Brothers...Asset-Liquity Mismatch of mega proposition...They need money thus the listing or else how will they fund they're ambitious projects? Real estate sales cycle is long and tedious...even if you see those developer signs which says "80% sold"...its alot of sweat to close deals.....you need cheap long term funds to succed...not those lofty returns Cytonn is promising...look how HF is struggling despite being well funded? I prefer FAHARI I-REIT...Zero debt....lots of cash....theyre investing in completed buildings with tenants... Had to check twice to confirm that it wasn't my post, because the contents are 100% aligned with my thoughts. The year on year salary expense increase of close to 100% is another laced chalice. This looks a HAL reincarnate 🤣🤣 I have hextupled my money here in 3.5years curious how you have faired in your picks? Emotions aside...congrats on your returns...hope you cash out the moment this thing lists... Now @horton give Wazua 5 reasons why I should join you in Cytonn? I have outlined above why I'm hesitant to join you on this journey to Kannan
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obiero		#72 Posted : Wednesday, May 02, 2018 8:15:19 PM
Rank: Elder Joined: 6/23/2009 Posts: 14,217 Location: nairobi		Horton wrote: obiero wrote: the deal wrote: Balance Sheet looks opaque to me!Given the business they're in...they could be playing with fire here....they should have spun off they're real estate portfolio and listed it as a REIT...but I guess they dont want too much scrutiny from the regulator. This thing looks like Lehman Brothers...Asset-Liquity Mismatch of mega proposition...They need money thus the listing or else how will they fund they're ambitious projects? Real estate sales cycle is long and tedious...even if you see those developer signs which says "80% sold"...its alot of sweat to close deals.....you need cheap long term funds to succed...not those lofty returns Cytonn is promising...look how HF is struggling despite being well funded? I prefer FAHARI I-REIT...Zero debt....lots of cash....theyre investing in completed buildings with tenants... Had to check twice to confirm that it wasn't my post, because the contents are 100% aligned with my thoughts. The year on year salary expense increase of close to 100% is another laced chalice. This looks a HAL reincarnate 🤣🤣 I have hextupled my money here in 3.5years curious how you have faired in your picks? Good for you! KQ ABP 4.26
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VituVingiSana		#73 Posted : Wednesday, May 02, 2018 11:42:04 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi		@Fyatu: (1) why do most hardware stores in Githurai and Mlolongo stock Kentank tanks instead of Rino tanks? Are those localities not the market niche for water tanks? I think they have 2 brands Roto and Rino which cater to different markets/segments. ...and (2)how the play ground toys business is doing with the mushrooming of Kindergartens built on less than 1/2 acre plots everywhere in the city Good question! They should aggressively target that market. Though they should stick to private schools that can/will pay. GoK contracts may be huge but are murky. Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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KulaRaha		#74 Posted : Thursday, May 03, 2018 9:05:29 AM
Rank: Elder Joined: 7/26/2007 Posts: 6,514		No audited numbers for 2017? Or still cooking the uji LOOOOOOOOOOOOOOOOOOOOL Business opportunities are like buses,there's always another one coming
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obiero		#75 Posted : Thursday, May 03, 2018 10:30:35 AM
Rank: Elder Joined: 6/23/2009 Posts: 14,217 Location: nairobi		KulaRaha wrote: No audited numbers for 2017? Or still cooking the uji LOOOOOOOOOOOOOOOOOOOOL Its not a laughing matter. Look at the P&L fair value adjustments spike, along with employee costs. Also check total borrowings of KES 7.6B against cash and cash equivalents of KES 76m ONLY. I just might invest in this thing before listing, looking for the next victim to offload onto https://www.cytonn.com/u...financial-statements.pdf KQ ABP 4.26
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VituVingiSana		#76 Posted : Thursday, May 03, 2018 3:08:05 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi		How many outstanding shares does Cytonn have? 1H PAT for the parent was 186mn including FV adjustments. Employee costs are 1/3 of revenues and 90% of Gross Profits. Impairment Losses of 47mn. Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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KulaRaha		#77 Posted : Thursday, May 03, 2018 4:27:16 PM
Rank: Elder Joined: 7/26/2007 Posts: 6,514		obiero wrote: [quote=KulaRaha]No audited numbers for 2017? Or still cooking the uji LOOOOOOOOOOOOOOOOOOOOL Its not a laughing matter. Look at the P&L fair value adjustments spike, along with employee costs. Also check total borrowings of KES 7.6B against cash and cash equivalents of KES 76m ONLY. I just might invest in this thing before listing, looking for the next victim to offload onto https://www.cytonn.com/u...inancial-statements.pdf[/quote] There are enough suckers here on Wazua to buy your shares...waiting for Cytonn Towers Business opportunities are like buses,there's always another one coming
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murchr		#78 Posted : Thursday, May 03, 2018 4:32:24 PM
Rank: Elder Joined: 2/26/2012 Posts: 15,980		VituVingiSana wrote: How many outstanding shares does Cytonn have? 1H PAT for the parent was 186mn including FV adjustments. Employee costs are 1/3 of revenues and 90% of Gross Profits. Impairment Losses of 47mn. I dont think there's a definite number, you can walk in and buy shares like @Obiero is thinking of doing. Those numbers stink! "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 .
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obiero		#79 Posted : Thursday, May 03, 2018 5:19:15 PM
Rank: Elder Joined: 6/23/2009 Posts: 14,217 Location: nairobi		murchr wrote: VituVingiSana wrote: How many outstanding shares does Cytonn have? 1H PAT for the parent was 186mn including FV adjustments. Employee costs are 1/3 of revenues and 90% of Gross Profits. Impairment Losses of 47mn. I dont think there's a definite number, you can walk in and buy shares like @Obiero is thinking of doing. Those numbers stink! The numbers stink to the high heavens. I have looked at the results from various angles and I see no light, only pitch darkness. How did the revenue increase 140.4% in 12 months? I have also checked out the Amara, Situ and Alma projects scale and do not believe that the projects are worth KES 11.4B listed as assets nor do I believe it cost over 7.6B to finance these establishments as per total liabilities in the H1 books, definitely not more than KES 1.2B would be sufficient fair value for those projects. This a good share to offload onto wanjiku; akule huu, na hasara juu KQ ABP 4.26
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obiero		#80 Posted : Thursday, May 03, 2018 5:26:20 PM
Rank: Elder Joined: 6/23/2009 Posts: 14,217 Location: nairobi		KulaRaha wrote: obiero wrote: KulaRaha wrote: No audited numbers for 2017? Or still cooking the uji LOOOOOOOOOOOOOOOOOOOOL Its not a laughing matter. Look at the P&L fair value adjustments spike, along with employee costs. Also check total borrowings of KES 7.6B against cash and cash equivalents of KES 76m ONLY. I just might invest in this thing before listing, looking for the next victim to offload onto https://www.cytonn.com/u...inancial-statements.pdf There are enough suckers here on Wazua to buy your shares...waiting for Cytonn Towers Its not a laughing matter KQ ABP 4.26
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