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obiero
#51 Posted : Friday, July 12, 2019 5:56:24 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,213
Location: nairobi
sparkly wrote:
obiero wrote:
sparkly wrote:
obiero wrote:
VituVingiSana wrote:
sparkly wrote:
obiero wrote:
Ebenyo wrote:
Among the ailing companies in NSE Home Africa fares better!
Mumias leads in negative equity position of 15 billion,followed by uchumi at 3 billion,KQ at 2.4 billion,Trans-century at 944 million and Home Africa at 505 million.

Its shameful to put HAFR and KQ in the same sentence. Would caliber of Martin Oduor, Caroline Ogwapitt, Michael Joseph join the board of HAFR? Even for one day? Let's get serious about what we post


How many shares do those executives hold in KQ? Let me tell you, they have Zero, Nought, Nothing. They are just there for prestige and allowances.
The only KQ Directors who hold KQ shares are:

Nicholas Bodo - 1,050;
Carol Musyoka - 6,675; and
Michael Gichangi - 2,025.

On the other hand the following Directors of HAFR have shares in the company:
Ketan Shah - 4m;
Mbugua Gecaga - 3m; and
Dan Awendo - 256k.

I feel better represented by directors who have skin in the game (to quote @VVS) than directors who are just there for prestige and allowances.

Nicholas Bodo - 1,050; [Value 5k. One free one-way flight from NBO-MBA on economy 5k+]
Carol Musyoka - 6,675; and [Value 34k. One free return flight from NBO-KGL on economy 34k+]
Michael Gichangi - 2,025. [Value 10k. One free retun flight from NBO-MBA on economy 10k+]

If I was offered a board seat on KQ, I would take it. For the perks.
So would @sparkly. Or @obiero [who probably tried under Ngunze] Laughing out loudly Laughing out loudly Laughing out loudly

Skin in the game counts for nothing if you can imagine what happened to Panaurana of ARM.. The NSE is a dicy place meant only for those who can afford to lose it all


Panaurana cried when ARM went under. Which Directors will cry when KQ goes under?

I keep telling people here. KQ is a national asset that shall never be let to go under..


Let us debate this premise:

1. No asset or National Asset is too big to fai;
2. State priorities change. Project Mawingu was essentially a NARC economic revival project. UMK is just supporting KQ so that it doesn't die on his watch. He ignored the planned greenfield terminal & Runway. The next president might not give a damn about aviation.
3. Kenya has a sovereign risk. If it fails to honor foreign loans and guarantees, KQ will go down..

How did these three fictitious bullets escape my notice.. If KQ hadn't done Project Mawingu, CAPE TOWN, MADAGASCAR, NYC, GENEVA, ROME wouldn't have happened.. In reality KQ would have folded up.. The B787 purchases were vital. Only problem was the rush and financing options chosen..

KQ ABP 4.26
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  | | Edit by user: Friday, July 12, 2019 6:00 AM | Reason: Not specified
VituVingiSana
#52 Posted : Friday, July 12, 2019 1:30:53 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
@Obiero wrote:
"If KQ hadn't done Project Mawingu, CAPE TOWN, MADAGASCAR, NYC, GENEVA, ROME wouldn't have happened.. In reality KQ would have folded up.. The B787 purchases were vital. Only problem was the rush and financing options chosen."

BUT

1) KQ used to fly to Rome before Project Mawingu was designed to make millionaires of Mbugua and Naikuni and paupers of its shareholders.
2) KQ could have acquired the 787s slowly. And the same with the 777s. For many years, it had to lease out the 787s and 777s acquired under Project Mawingu at a LOSS. Are all the 787s back? Are all the 777s back?
3) All the other destinations mentioned could have been served without the break-neck expansion under Project Mawingu.
4) What happened to direct (not via BKK) flights to CAN? DEL?

Project Mawingu was conceived to make everyone but the shareholders rich.

Finally:

Back to HAFR which, unlike KQ, was designed to impoverish the "new" shareholders from the moment it listed.

It's sad to see once promising firms eg KQ and ARM go for rapid expansion using significant debt. A few road bumps and it all comes crashing down. I learnt my lesson and steer away from these.

HAFR was just, IMHO, a con game from the beginning.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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  | | Edit by user: Friday, July 12, 2019 1:34 PM | Reason: Not specified
rwitre
#53 Posted : Saturday, July 27, 2019 6:53:47 PM
Rank: Member

Joined: 3/8/2018
Posts: 507
Location: Nairobi
Shenanigans. It's already known that the results will be horrid. They should just be released early instead of waiting till the last day, of the last week, of the 3-month extension after the initial deadline passed.

Home Afrika issues profit warning

Preliminary assessment shows that the December 2018 earnings will be at least 25% lower than December 2017 earnings.

Quote:
The expected decline is attributed to the impact of the slowed growth in the real estate sector amid constrained credit access and general slowdown in spending power among buyers, resulted to a decline in sales of plots and houses by 36.8% in absolute sales.
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sparkly
#54 Posted : Sunday, July 28, 2019 9:17:03 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
rwitre wrote:
Shenanigans. It's already known that the results will be horrid. They should just be released early instead of waiting till the last day, of the last week, of the 3-month extension after the initial deadline passed.

Home Afrika issues profit warning

Preliminary assessment shows that the December 2018 earnings will be at least 25% lower than December 2017 earnings.

Quote:
The expected decline is attributed to the impact of the slowed growth in the real estate sector amid constrained credit access and general slowdown in spending power among buyers, resulted to a decline in sales of plots and houses by 36.8% in absolute sales.


HaL behaves as if it's still a private company. Hoping Ibuka will instill reporting discipline on the incoming listings.
Life is short. Live passionately.
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obiero
#55 Posted : Sunday, July 28, 2019 10:51:58 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,213
Location: nairobi
sparkly wrote:
rwitre wrote:
Shenanigans. It's already known that the results will be horrid. They should just be released early instead of waiting till the last day, of the last week, of the 3-month extension after the initial deadline passed.

Home Afrika issues profit warning

Preliminary assessment shows that the December 2018 earnings will be at least 25% lower than December 2017 earnings.

Quote:
The expected decline is attributed to the impact of the slowed growth in the real estate sector amid constrained credit access and general slowdown in spending power among buyers, resulted to a decline in sales of plots and houses by 36.8% in absolute sales.


HaL behaves as if it's still a private company. Hoping Ibuka will instill reporting discipline on the incoming listings.

Pole on your loss

KQ ABP 4.26
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Ericsson
#56 Posted : Wednesday, July 31, 2019 11:32:54 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Link to FY18 results

https://www.nse.co.ke/li...e-year-ended-31-dec-2018
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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xxxxx
#57 Posted : Wednesday, July 31, 2019 11:59:51 AM
Rank: Member

Joined: 3/20/2008
Posts: 503
[quote=Ericsson]Link to FY18 results

https://www.nse.co.ke/li...-year-ended-31-dec-2018[/quote]

BOOM - Disclaimer of opinion on Going concern and inventoryShame on you Shame on you Shame on you ...........RUNNNNN
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sparkly
#58 Posted : Wednesday, July 31, 2019 2:50:25 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
[quote=Ericsson]Link to FY18 results

https://www.nse.co.ke/li...-year-ended-31-dec-2018[/quote]


Speculation grade, not investment.
Life is short. Live passionately.
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VituVingiSana
#59 Posted : Tuesday, August 06, 2019 10:02:17 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Home Afrika picks former Suntra boss to its board
https://www.businessdail...5958-108pk0xz/index.html
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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sparkly
#60 Posted : Wednesday, August 07, 2019 6:49:40 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
[quote=VituVingiSana]Home Afrika picks former Suntra boss to its board
https://www.businessdail...958-108pk0xz/index.html[/quote]

What value does he bring to HAFR? Fusion capital failed to raise enough money for its D-reit a few years back. Birds of a failure hang out together.
Life is short. Live passionately.
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