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EA Cables FY17
Rank: Elder Joined: 6/23/2009 Posts: 14,213 Location: nairobi
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Ericsson wrote:Angelica _ann wrote:Pesa Nane wrote:Quote:Summary Financial Statements
The summary financial statements do not contain all the disclosures required by the IFRS and in the manner required by the Kenyan Companies Act, 2015. In addition, the summary directors' remuneration report does not contain all the disclosures required by the Kenyan Companies Act, 2015.
Blah blah....
The report also includes:
* A material uncertainty related to going concern section that draws attention to Note 2(f) of the audited consolidated financial statements. Note 2(f) of the audited consolidated financial statements indicates that East African Cables Plc incurred a loss of Ksh. 663 million during the year ended 31 Dec 2017, and as of that date, East Africa Cables Plc's current liabilities exceeded the current assets by Kshs. 1.59 billion. These events or conditions, along with other matters as set forth in Note 2(f) of the audited consolidated financial statements, indicate that a material uncertainty exists that may cast significant doubt on East Africa Cables Plc's ability to continue as a going concern. Crazy   Debt will kill companies here in Kenya 🇰🇪. Interest expense of ksh.533mn up from 258mn. What's the size of the loan And the two men want to repeal the rate cap???????
KQ ABP 4.26
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Ericsson wrote:Angelica _ann wrote:Pesa Nane wrote:Quote:Summary Financial Statements
The summary financial statements do not contain all the disclosures required by the IFRS and in the manner required by the Kenyan Companies Act, 2015. In addition, the summary directors' remuneration report does not contain all the disclosures required by the Kenyan Companies Act, 2015.
Blah blah....
The report also includes:
* A material uncertainty related to going concern section that draws attention to Note 2(f) of the audited consolidated financial statements. Note 2(f) of the audited consolidated financial statements indicates that East African Cables Plc incurred a loss of Ksh. 663 million during the year ended 31 Dec 2017, and as of that date, East Africa Cables Plc's current liabilities exceeded the current assets by Kshs. 1.59 billion. These events or conditions, along with other matters as set forth in Note 2(f) of the audited consolidated financial statements, indicate that a material uncertainty exists that may cast significant doubt on East Africa Cables Plc's ability to continue as a going concern. Crazy Debt will kill companies here in Kenya 🇰🇪. Interest expense of ksh.533mn up from 258mn. What's the size of the loan Hehe, Debt will kill and they are crying for more at higher rates! Quote:The group faced headwinds in 2017 due to unfavourable political environment and prevailing challenges of access to credit due to effects of interest rate capping that persisted in our main market Kennya Pesa Nane plans to be shilingi when he grows up.
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Rank: Member Joined: 7/10/2014 Posts: 145 Location: Nairobi
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Pesa Nane wrote:Ericsson wrote:Angelica _ann wrote:Pesa Nane wrote:Quote:Summary Financial Statements
The summary financial statements do not contain all the disclosures required by the IFRS and in the manner required by the Kenyan Companies Act, 2015. In addition, the summary directors' remuneration report does not contain all the disclosures required by the Kenyan Companies Act, 2015.
Blah blah....
The report also includes:
* A material uncertainty related to going concern section that draws attention to Note 2(f) of the audited consolidated financial statements. Note 2(f) of the audited consolidated financial statements indicates that East African Cables Plc incurred a loss of Ksh. 663 million during the year ended 31 Dec 2017, and as of that date, East Africa Cables Plc's current liabilities exceeded the current assets by Kshs. 1.59 billion. These events or conditions, along with other matters as set forth in Note 2(f) of the audited consolidated financial statements, indicate that a material uncertainty exists that may cast significant doubt on East Africa Cables Plc's ability to continue as a going concern. Crazy Debt will kill companies here in Kenya 🇰🇪. Interest expense of ksh.533mn up from 258mn. What's the size of the loan Hehe, Debt will kill and they are crying for more at higher rates! Quote:The group faced headwinds in 2017 due to unfavourable political environment and prevailing challenges of access to credit due to effects of interest rate capping that persisted in our main market Kennya Not forgetting the counterfeit menace from our chinese partners "Blowing out someone else candle won't make yours shine brighter"-Anonymous
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Rank: Member Joined: 12/22/2015 Posts: 224 Location: Mombasa, Kenya
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jgithige wrote:Pesa Nane wrote:Ericsson wrote:Angelica _ann wrote:Pesa Nane wrote:Quote:Summary Financial Statements
The summary financial statements do not contain all the disclosures required by the IFRS and in the manner required by the Kenyan Companies Act, 2015. In addition, the summary directors' remuneration report does not contain all the disclosures required by the Kenyan Companies Act, 2015.
Blah blah....
The report also includes:
* A material uncertainty related to going concern section that draws attention to Note 2(f) of the audited consolidated financial statements. Note 2(f) of the audited consolidated financial statements indicates that East African Cables Plc incurred a loss of Ksh. 663 million during the year ended 31 Dec 2017, and as of that date, East Africa Cables Plc's current liabilities exceeded the current assets by Kshs. 1.59 billion. These events or conditions, along with other matters as set forth in Note 2(f) of the audited consolidated financial statements, indicate that a material uncertainty exists that may cast significant doubt on East Africa Cables Plc's ability to continue as a going concern. Crazy Debt will kill companies here in Kenya 🇰🇪. Interest expense of ksh.533mn up from 258mn. What's the size of the loan Hehe, Debt will kill and they are crying for more at higher rates! Quote:The group faced headwinds in 2017 due to unfavourable political environment and prevailing challenges of access to credit due to effects of interest rate capping that persisted in our main market Kennya Not forgetting the counterfeit menace from our chinese partners This is bad. Not ARM bad or KQ bad but still bad. And they have blamed anything and everything except management Start!
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Rank: Elder Joined: 12/7/2012 Posts: 11,935
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Pesa Nane wrote:Ericsson wrote:Angelica _ann wrote:Pesa Nane wrote:Quote:Summary Financial Statements
The summary financial statements do not contain all the disclosures required by the IFRS and in the manner required by the Kenyan Companies Act, 2015. In addition, the summary directors' remuneration report does not contain all the disclosures required by the Kenyan Companies Act, 2015.
Blah blah....
The report also includes:
* A material uncertainty related to going concern section that draws attention to Note 2(f) of the audited consolidated financial statements. Note 2(f) of the audited consolidated financial statements indicates that East African Cables Plc incurred a loss of Ksh. 663 million during the year ended 31 Dec 2017, and as of that date, East Africa Cables Plc's current liabilities exceeded the current assets by Kshs. 1.59 billion. These events or conditions, along with other matters as set forth in Note 2(f) of the audited consolidated financial statements, indicate that a material uncertainty exists that may cast significant doubt on East Africa Cables Plc's ability to continue as a going concern. Crazy Debt will kill companies here in Kenya 🇰🇪. Interest expense of ksh.533mn up from 258mn. What's the size of the loan Hehe, Debt will kill and they are crying for more at higher rates! Quote:The group faced headwinds in 2017 due to unfavourable political environment and prevailing challenges of access to credit due to effects of interest rate capping that persisted in our main market Kennya They could be right looking at the bigger picture. Their partners, customers & consumers of their products are affected by rate cap, so there is a spiral effect that affects their business negatively!!! 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: 2/26/2012 Posts: 15,980
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This one wazuans were warned. Imports from China too are killing the company "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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Rank: Elder Joined: 6/23/2009 Posts: 14,213 Location: nairobi
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Metch wrote:jgithige wrote:Pesa Nane wrote:Ericsson wrote:Angelica _ann wrote:Pesa Nane wrote:Quote:Summary Financial Statements
The summary financial statements do not contain all the disclosures required by the IFRS and in the manner required by the Kenyan Companies Act, 2015. In addition, the summary directors' remuneration report does not contain all the disclosures required by the Kenyan Companies Act, 2015.
Blah blah....
The report also includes:
* A material uncertainty related to going concern section that draws attention to Note 2(f) of the audited consolidated financial statements. Note 2(f) of the audited consolidated financial statements indicates that East African Cables Plc incurred a loss of Ksh. 663 million during the year ended 31 Dec 2017, and as of that date, East Africa Cables Plc's current liabilities exceeded the current assets by Kshs. 1.59 billion. These events or conditions, along with other matters as set forth in Note 2(f) of the audited consolidated financial statements, indicate that a material uncertainty exists that may cast significant doubt on East Africa Cables Plc's ability to continue as a going concern. Crazy Debt will kill companies here in Kenya 🇰🇪. Interest expense of ksh.533mn up from 258mn. What's the size of the loan Hehe, Debt will kill and they are crying for more at higher rates! Quote:The group faced headwinds in 2017 due to unfavourable political environment and prevailing challenges of access to credit due to effects of interest rate capping that persisted in our main market Kennya Not forgetting the counterfeit menace from our chinese partners This is bad. Not ARM bad or KQ bad but still bad. And they have blamed anything and everything except management KQ is back in profitability. You know where you heard is first..
KQ ABP 4.26
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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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EA Cables FY17
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