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Mumias FY 2018 ends with 15.1bn loss
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Ericsson
#1 Posted : Wednesday, March 13, 2019 12:28:07 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Ksh.15.1bn FY loss
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ebenyo
#2 Posted : Wednesday, March 13, 2019 12:44:26 PM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,997
Location: Kitale
Ericsson wrote:
Ksh.15.1bn FY loss


The taskforce has recommended privatization which seems to be the best option.
Towards the goal of financial freedom
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obiero
#3 Posted : Wednesday, March 13, 2019 1:12:52 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,506
Location: nairobi
Ebenyo wrote:
Ericsson wrote:
Ksh.15.1bn FY loss


The taskforce has recommended privatization which seems to be the best option.

There is no way such a loss can be made by that small company. This is a fraud. People are pumping out cash in form of OPEX. Similar to Nzoia, which led to the death of its CEO who had tried to plug the drain

HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Angelica _ann
#4 Posted : Wednesday, March 13, 2019 1:24:46 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,908
obiero wrote:
Ebenyo wrote:
Ericsson wrote:
Ksh.15.1bn FY loss


The taskforce has recommended privatization which seems to be the best option.

There is no way such a loss can be made by that small company. This is a fraud. People are pumping out cash in form of OPEX. Similar to Nzoia, which led to the death of its CEO who had tried to plug the drain


Cooking results are out - a loss is a loss!!!Sad Sad Sad d'oh! d'oh! d'oh!
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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VituVingiSana
#5 Posted : Wednesday, March 13, 2019 1:47:36 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,099
Location: Nairobi
Ericsson wrote:
Ksh.15.1bn FY loss
d'oh! d'oh! d'oh!
This firm like a certain airline needs to be euthanized for the sake of taxpayers.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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obiero
#6 Posted : Wednesday, March 13, 2019 2:02:52 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,506
Location: nairobi
Angelica _ann wrote:
obiero wrote:
Ebenyo wrote:
Ericsson wrote:
Ksh.15.1bn FY loss


The taskforce has recommended privatization which seems to be the best option.

There is no way such a loss can be made by that small company. This is a fraud. People are pumping out cash in form of OPEX. Similar to Nzoia, which led to the death of its CEO who had tried to plug the drain


Cooking results are out - a loss is a loss!!!Sad Sad Sad d'oh! d'oh! d'oh!

There are genuine losses and then there are MSC type losses. Very cooked. Corruption!

HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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muandiwambeu
#7 Posted : Wednesday, March 13, 2019 2:38:11 PM
Rank: Veteran


Joined: 8/28/2015
Posts: 1,247
obiero wrote:
Angelica _ann wrote:
obiero wrote:
Ebenyo wrote:
Ericsson wrote:
Ksh.15.1bn FY loss


The taskforce has recommended privatization which seems to be the best option.

There is no way such a loss can be made by that small company. This is a fraud. People are pumping out cash in form of OPEX. Similar to Nzoia, which led to the death of its CEO who had tried to plug the drain


Cooking results are out - a loss is a loss!!!Sad Sad Sad d'oh! d'oh! d'oh!

There are genuine losses and then there are MSC type losses. Very cooked. Corruption!

What is remaining of this junkyard. Mortician doing their best.
,Behold, a sower went forth to sow;....
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Pesa Nane
#8 Posted : Wednesday, March 13, 2019 3:15:11 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
HaMaina wrote:
Ebenyo wrote:
Gatheuzi wrote:
Superprime1 wrote:
Release of Mumias Sugar's FY 2018 results has been postponed by a further two weeks. At this rate, the books have been 'overcooked'!

And it came to pass, that just like the mother company run out of cane, the chief cook has also run out of ingredients to cook!!





Let him continue to cook!


Last 4 days remaining, then we'll all know for sure, unless of-course they postpone again.

@HaMaina run! Grapevine has it that the mumias chef outdid himself and cooked a bigger ugali than the 'biggest one' from KQ
Pesa Nane plans to be shilingi when he grows up.
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HaMaina
#9 Posted : Wednesday, March 13, 2019 4:45:41 PM
Rank: Veteran


Joined: 4/23/2014
Posts: 909
Pesa Nane wrote:
HaMaina wrote:
Ebenyo wrote:
Gatheuzi wrote:
Superprime1 wrote:
Release of Mumias Sugar's FY 2018 results has been postponed by a further two weeks. At this rate, the books have been 'overcooked'!

And it came to pass, that just like the mother company run out of cane, the chief cook has also run out of ingredients to cook!!





Let him continue to cook!


Last 4 days remaining, then we'll all know for sure, unless of-course they postpone again.

@HaMaina run! Grapevine has it that the mumias chef outdid himself and cooked a bigger ugali than the 'biggest one' from KQ


@Pesa Nane, this one I'm staying put. Its looking sweeter every day.
“You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
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