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Centum Full Year results 2017/2018
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obiero
#111 Posted : Sunday, November 11, 2018 8:02:54 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,213
Location: nairobi
VituVingiSana wrote:
obiero wrote:
Ericsson wrote:
@Obiero
You hit the nail spot on,had a talk with an insider who revealed about what you say.
Now that DJ is no longer on the scene,the future looks gloomy for Centum

I know Chris professionally and we share investment thoughts on various issues including KQ of all firms. Terryanne and I went to visit him at the executive wing of Nairobi Hospital before he flew out to the States for specialized care. It pains me that he never integrated his children better into his business.. The daughter is running an eatery at Two Rivers while the son has settled for an office job. This will go the Wells route incase he's unable to pull through.. Good thing is that he's getting better

Wells of KK?
Did you say going the Wells route? Applause Applause Applause
Bring on the takeover. Mworia (lke Ohana) has my full support to make me more cash! Where are those South Africans who like buying what Centum sells?

Tiger Brands ZA would not be ready to get into bed again.. There was swindling in their last arrangement at Haco

KQ ABP 4.26
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VituVingiSana
#112 Posted : Sunday, November 11, 2018 8:22:36 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
obiero wrote:
VituVingiSana wrote:
obiero wrote:
Ericsson wrote:
@Obiero
You hit the nail spot on,had a talk with an insider who revealed about what you say.
Now that DJ is no longer on the scene,the future looks gloomy for Centum

I know Chris professionally and we share investment thoughts on various issues including KQ of all firms. Terryanne and I went to visit him at the executive wing of Nairobi Hospital before he flew out to the States for specialized care. It pains me that he never integrated his children better into his business.. The daughter is running an eatery at Two Rivers while the son has settled for an office job. This will go the Wells route incase he's unable to pull through.. Good thing is that he's getting better

Wells of KK?
Did you say going the Wells route? Applause Applause Applause
Bring on the takeover. Mworia (lke Ohana) has my full support to make me more cash! Where are those South Africans who like buying what Centum sells?

Tiger Brands ZA would not be ready to get into bed again.. There was swindling in their last arrangement at Haco

Kuna wengine pale kusini.
Old Mutual bought 50% of Two Rivers Mall and UAP.
PIC bought into KenGen. Perhaps, they will buy into Amu/Akiira.
AVIC (China) is a co-shareholder in Two River Development.

Let the fruits ripen. Then we can harvest them at their peak.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#113 Posted : Sunday, November 11, 2018 8:24:23 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
I think I shall make a day trip out to Vipingo to look around if one is allowed to do so. I have only heard of Pearl Marina by name but that's another trip worth making considering I want flip my KK (Pray ) into Centum.

A bit of R&R [Research + Rest] to see what M7 is upto.
I need to take some time off during a weekday and visit Two Rivers when the crowds are light to see what's happening. Or not.
Vacancies? Empty stores?
Then check out the office block. Last time I checked, it was only 12% occupied but mgmt said the leases were being negotiated for most of the space. Nothing like seeing it for oneself.

Research is important. Those HassConsult reports are inherently biased though I read them. The reality is that 50% of Centum's portfolio is in Real Estate so I have to be comfy with what they own.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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sparkly
#114 Posted : Sunday, November 11, 2018 9:55:20 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
VituVingiSana wrote:
I think I shall make a day trip out to Vipingo to look around if one is allowed to do so. I have only heard of Pearl Marina by name but that's another trip worth making considering I want flip my KK (Pray ) into Centum.

A bit of R&R [Research + Rest] to see what M7 is upto.
I need to take some time off during a weekday and visit Two Rivers when the crowds are light to see what's happening. Or not.
Vacancies? Empty stores?
Then check out the office block. Last time I checked, it was only 12% occupied but mgmt said the leases were being negotiated for most of the space. Nothing like seeing it for oneself.

Research is important. Those HassConsult reports are inherently biased though I read them. The reality is that 50% of Centum's portfolio is in Real Estate so I have to be comfy with what they own.


Two Rivers- Mall is complete. Problem is availablity of cash to develop infrastructure for the rest of the development. Uptake of plots not as quick as anticipated.

Vipingo - Was there an year ago. Lots of sisal was being felled for the development. Vipingo has benefit of accessibility from Mombasa, Malindi and Mariakani.
Life is short. Live passionately.
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Ericsson
#115 Posted : Sunday, November 11, 2018 10:08:02 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
obiero wrote:
Ericsson wrote:
@Obiero
You hit the nail spot on,had a talk with an insider who revealed about what you say.
Now that DJ is no longer on the scene,the future looks gloomy for Centum

I know Chris professionally and we share investment thoughts on various issues including KQ of all firms. Terryanne and I went to visit him at the executive wing of Nairobi Hospital before he flew out to the States for specialized care. It pains me that he never integrated his children better into his business.. The daughter is running an eatery at Two Rivers while the son has settled for an office job. This will go the Wells route incase he's unable to pull through.. Good thing is that he's getting better

Wells of KK?
Did you say going the Wells route? Applause Applause Applause
Bring on the takeover. Mworia (lke Ohana) has my full support to make me more cash! Where are those South Africans who like buying what Centum sells?


There will be no takeover of centum,GoK which still has a significant shareholding isn't willing to let go
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#116 Posted : Sunday, November 11, 2018 10:56:39 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
sparkly wrote:
VituVingiSana wrote:
I think I shall make a day trip out to Vipingo to look around if one is allowed to do so. I have only heard of Pearl Marina by name but that's another trip worth making considering I want flip my KK (Pray ) into Centum.

A bit of R&R [Research + Rest] to see what M7 is upto.
I need to take some time off during a weekday and visit Two Rivers when the crowds are light to see what's happening. Or not.
Vacancies? Empty stores?
Then check out the office block. Last time I checked, it was only 12% occupied but mgmt said the leases were being negotiated for most of the space. Nothing like seeing it for oneself.

Research is important. Those HassConsult reports are inherently biased though I read them. The reality is that 50% of Centum's portfolio is in Real Estate so I have to be comfy with what they own.


Two Rivers - Mall is complete. Problem is availablity of cash to develop infrastructure for the rest of the development. Uptake of plots not as quick as anticipated. Agreed, and they acknowledged it. They are trying to find a JV partner for a residential development.

Vipingo - Was there an year ago. Lots of sisal was being felled for the development. Vipingo has benefit of accessibility from Mombasa, Malindi and Mariakani. I need to go there. Were you able to access the property/area? There is talk of a dual carriage road - at some point from Mombasa to Malindi. Vipingo will be accessible to Mombasa as you point out. They need to fix the Mtwapa chokepoint.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#117 Posted : Sunday, November 11, 2018 11:03:17 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
obiero wrote:
Ericsson wrote:
@Obiero
You hit the nail spot on,had a talk with an insider who revealed about what you say.
Now that DJ is no longer on the scene,the future looks gloomy for Centum

I know Chris professionally and we share investment thoughts on various issues including KQ of all firms. Terryanne and I went to visit him at the executive wing of Nairobi Hospital before he flew out to the States for specialized care. It pains me that he never integrated his children better into his business.. The daughter is running an eatery at Two Rivers while the son has settled for an office job. This will go the Wells route incase he's unable to pull through.. Good thing is that he's getting better

Wells of KK?
Did you say going the Wells route? Applause Applause Applause
Bring on the takeover. Mworia (lke Ohana) has my full support to make me more cash! Where are those South Africans who like buying what Centum sells?


There will be no takeover of centum,GoK which still has a significant shareholding isn't willing to let go
I do not think/anticipate a Takeover of Centum as much as sale of assets. Centum has sold UAP, GenAfrica and part of TRML in the past 3 years. The cash can pay down debt and fund new ventures.

GoK is broke and has indicated it is ready to sell stakes in KPA, KPC, etc so a sale of ICDC's shares in Centum, at the right price, may be looked at favorably.

I don't mind looking at this on a longer term perspective BUT if I feel something is off then I will say goodbye even if I have to take a loss.
I learnt that from Olympia, where I took a haircut by waiting, and KQ.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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sparkly
#118 Posted : Monday, November 12, 2018 2:52:04 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
VituVingiSana wrote:
sparkly wrote:
VituVingiSana wrote:
I think I shall make a day trip out to Vipingo to look around if one is allowed to do so. I have only heard of Pearl Marina by name but that's another trip worth making considering I want flip my KK (Pray ) into Centum.

A bit of R&R [Research + Rest] to see what M7 is upto.
I need to take some time off during a weekday and visit Two Rivers when the crowds are light to see what's happening. Or not.
Vacancies? Empty stores?
Then check out the office block. Last time I checked, it was only 12% occupied but mgmt said the leases were being negotiated for most of the space. Nothing like seeing it for oneself.

Research is important. Those HassConsult reports are inherently biased though I read them. The reality is that 50% of Centum's portfolio is in Real Estate so I have to be comfy with what they own.


Two Rivers - Mall is complete. Problem is availablity of cash to develop infrastructure for the rest of the development. Uptake of plots not as quick as anticipated. Agreed, and they acknowledged it. They are trying to find a JV partner for a residential development.

Vipingo - Was there an year ago. Lots of sisal was being felled for the development. Vipingo has benefit of accessibility from Mombasa, Malindi and Mariakani. I need to go there. Were you able to access the property/area? There is talk of a dual carriage road - at some point from Mombasa to Malindi. Vipingo will be accessible to Mombasa as you point out. They need to fix the Mtwapa chokepoint.


If driving from Nairobi, better turn off at Mariakani and go straight to Kilifi. Other option is to fly from Wilson directly to Vipingo Ridge then organize transportation from there.

Centum have project & sales offices on site. If you need a contact person onsite let me know.
Life is short. Live passionately.
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obiero
#119 Posted : Monday, November 12, 2018 3:04:43 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,213
Location: nairobi
sparkly wrote:
VituVingiSana wrote:
sparkly wrote:
VituVingiSana wrote:
I think I shall make a day trip out to Vipingo to look around if one is allowed to do so. I have only heard of Pearl Marina by name but that's another trip worth making considering I want flip my KK (Pray ) into Centum.

A bit of R&R [Research + Rest] to see what M7 is upto.
I need to take some time off during a weekday and visit Two Rivers when the crowds are light to see what's happening. Or not.
Vacancies? Empty stores?
Then check out the office block. Last time I checked, it was only 12% occupied but mgmt said the leases were being negotiated for most of the space. Nothing like seeing it for oneself.

Research is important. Those HassConsult reports are inherently biased though I read them. The reality is that 50% of Centum's portfolio is in Real Estate so I have to be comfy with what they own.


Two Rivers - Mall is complete. Problem is availablity of cash to develop infrastructure for the rest of the development. Uptake of plots not as quick as anticipated. Agreed, and they acknowledged it. They are trying to find a JV partner for a residential development.

Vipingo - Was there an year ago. Lots of sisal was being felled for the development. Vipingo has benefit of accessibility from Mombasa, Malindi and Mariakani. I need to go there. Were you able to access the property/area? There is talk of a dual carriage road - at some point from Mombasa to Malindi. Vipingo will be accessible to Mombasa as you point out. They need to fix the Mtwapa chokepoint.


If driving from Nairobi, better turn off at Mariakani and go straight to Kilifi. Other option is to fly from Wilson directly to Vipingo Ridge then organize transportation from there.

Centum have project & sales offices on site. If you need a contact person onsite let me know.

The turn off from Mariakani is ideal, but driving from Nairobi to Vipingo is not for the faint hearted. Flying into Vipingo isn't cheap as it is a private strip. If constrained on funds, you stand a better/cheaper chance to SGR down KES 1,000 (one way) to Mombasa and then cab/matatu your way KES 500-900 (one way) to Kilifi-Vipingo which is less than 45 mins one-way

KQ ABP 4.26
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  | | Edit by user: Monday, November 12, 2018 3:06 PM | Reason: Not specified
VituVingiSana
#120 Posted : Monday, November 12, 2018 7:49:43 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
@Sparkly @Obiero
This would be an add-on visit when I head out to Mombasa not a special trip.
The Mariakani-Kilifi road is a nice road but getting busier. ARM's factory can be accessed too but it must be "sleeping" at the moment. I saw there is a flight to Vipingo and it's competitively priced.

This is academic research for now given Rubis have not cut the cheque. I am waiting for the IM.

Thanks!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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