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Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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I&M Q3 PBT breakdown Kenya--ksh.7.734bn Tanzania--ksh.232.196mn Rwanda--ksh.737.26mn Mauritius--ksh.604.128mn Uganda--(1.014)mn Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Ericsson wrote:I&M Q3 PBT breakdown
Kenya--ksh.7.734bn
Tanzania--ksh.232.196mn
Rwanda--ksh.737.26mn
Mauritius--ksh.604.128mn
Uganda--(1.014)mn Consolidated EPS? Life is short. Live passionately.
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Rank: Chief Joined: 1/3/2007 Posts: 18,047 Location: Nairobi
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sparkly wrote:Ericsson wrote:I&M Q3 PBT breakdown
Kenya--ksh.7.734bn
Tanzania--ksh.232.196mn
Rwanda--ksh.737.26mn
Mauritius--ksh.604.128mn
Uganda--(1.014)mn Consolidated EPS? 15.24 has been shown but divide by 2 to adjust for the split. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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I&M has put General Plastics under administration due to debt owed Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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Ericsson wrote:I&M has put General Plastics under administration due to debt owed How much is the debt?
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Rank: Elder Joined: 12/7/2012 Posts: 11,901
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FUNKY wrote:Ericsson wrote:I&M has put General Plastics under administration due to debt owed How much is the debt? In Kenya, Administration is basically /generally killing the company. 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: Veteran Joined: 4/30/2010 Posts: 1,635
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Angelica _ann wrote:FUNKY wrote:Ericsson wrote:I&M has put General Plastics under administration due to debt owed How much is the debt? In Kenya, Administration is basically /generally killing the company. Not always...look at the case of ARM they managed to revive it
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Rank: Elder Joined: 12/7/2012 Posts: 11,901
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FUNKY wrote:Angelica _ann wrote:FUNKY wrote:Ericsson wrote:I&M has put General Plastics under administration due to debt owed How much is the debt? In Kenya, Administration is basically /generally killing the company. Not always...look at the case of ARM they managed to revive it What, you are joking. Ni hayo tu, from a burnt speculator to recognition. 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: 12/4/2009 Posts: 10,636 Location: NAIROBI
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I&M is auctioning Suraya's lavington development Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 7/1/2009 Posts: 246
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FUNKY wrote:Angelica _ann wrote:FUNKY wrote:Ericsson wrote:I&M has put General Plastics under administration due to debt owed How much is the debt? In Kenya, Administration is basically /generally killing the company. Not always...look at the case of ARM they managed to revive it ARM revived? Really? If you had shares in it, you would know that it's no more. We had to write them off.
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Rank: Member Joined: 7/1/2019 Posts: 119
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FUNKY wrote:Angelica _ann wrote:FUNKY wrote:Ericsson wrote:I&M has put General Plastics under administration due to debt owed How much is the debt? In Kenya, Administration is basically /generally killing the company. Not always...look at the case of ARM they managed to revive it You are joking right? There is also the curious case of Deacons East Africa.
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Ericsson wrote:I&M has put General Plastics under administration due to debt owed As received: What happened GP sold their company to a private equity based out of South Africa called Phasita.
Phasita overleveraged, changed suppliers and started making drastic changes like cash upfront, no credit.. etc and destroyed relations with existing customers which drove the business to their knees.
The family bought out Phasita at a premium with a bank loan in order to start the revival plans.
Now the company was put in administration when one of the suppliers who is conveniently also a South African company called Protea Chemicals filed a notice of wind up of GP after a failure to settle a $180,000 outstanding.
Protea Chemicals got a court order for wind up and the bank, PV RAO and family put the company in administration to protect it.Business opportunities are like buses,there's always another one coming
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Rank: New-farer Joined: 8/1/2019 Posts: 85
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KulaRaha wrote:Ericsson wrote:I&M has put General Plastics under administration due to debt owed As received: What happened GP sold their company to a private equity based out of South Africa called Phasita.
Phasita overleveraged, changed suppliers and started making drastic changes like cash upfront, no credit.. etc and destroyed relations with existing customers which drove the business to their knees.
The family bought out Phasita at a premium with a bank loan in order to start the revival plans.
Now the company was put in administration when one of the suppliers who is conveniently also a South African company called Protea Chemicals filed a notice of wind up of GP after a failure to settle a $180,000 outstanding.
Protea Chemicals got a court order for wind up and the bank, PV RAO and family put the company in administration to protect it. I hear GP and what comes to mind is worst customer service. Ata simu kushika ni shida and the sales people belittling small buyers. I hope they clear their issues though.
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Rank: User Joined: 8/15/2013 Posts: 13,236 Location: Vacuum
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McGill wrote:KulaRaha wrote:Ericsson wrote:I&M has put General Plastics under administration due to debt owed As received: What happened GP sold their company to a private equity based out of South Africa called Phasita.
Phasita overleveraged, changed suppliers and started making drastic changes like cash upfront, no credit.. etc and destroyed relations with existing customers which drove the business to their knees.
The family bought out Phasita at a premium with a bank loan in order to start the revival plans.
Now the company was put in administration when one of the suppliers who is conveniently also a South African company called Protea Chemicals filed a notice of wind up of GP after a failure to settle a $180,000 outstanding.
Protea Chemicals got a court order for wind up and the bank, PV RAO and family put the company in administration to protect it. I hear GP and what comes to mind is worst customer service. Ata simu kushika ni shida and the sales people belittling small buyers. I hope they clear their issues though. Belitting small buyers yet they can't clear a loan of $180,000 If Obiero did it, Who Am I?
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Rank: Chief Joined: 1/3/2007 Posts: 18,047 Location: Nairobi
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FUNKY wrote:Angelica _ann wrote:FUNKY wrote:Ericsson wrote:I&M has put General Plastics under administration due to debt owed How much is the debt? In Kenya, Administration is basically /generally killing the company. Not always...look at the case of ARM they managed to revive it     Not in the least. It was chopped and sold/auctioned. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,047 Location: Nairobi
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Swenani wrote:McGill wrote:KulaRaha wrote:Ericsson wrote:I&M has put General Plastics under administration due to debt owed As received: What happened GP sold their company to a private equity based out of South Africa called Phasita.
Phasita overleveraged, changed suppliers and started making drastic changes like cash upfront, no credit.. etc and destroyed relations with existing customers which drove the business to their knees.
The family bought out Phasita at a premium with a bank loan in order to start the revival plans.
Now the company was put in administration when one of the suppliers who is conveniently also a South African company called Protea Chemicals filed a notice of wind up of GP after a failure to settle a $180,000 outstanding.
Protea Chemicals got a court order for wind up and the bank, PV RAO and family put the company in administration to protect it. I hear GP and what comes to mind is worst customer service. Ata simu kushika ni shida and the sales people belittling small buyers. I hope they clear their issues though. Belitting small buyers yet they can't clear a loan of $180,000 One wonders if the amount owed is even legit given it seems it was Phasita who incurred it. Crazy that this can happen for $180,000! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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2020 Q1 Profit has fallen by more than 30% Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,047 Location: Nairobi
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Ericsson wrote:2020 Q1 Profit has fallen by more than 30% JV (Mauritius) went from a decent profit to a large loss. I wonder if the Central Bank of Mauritius is more stringent on provisions vs CBK. Banks should provision for potential losses ASAP. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Dear Shareholder, A kind reminder to register for the online AGM for I&M Holdings Plc scheduled on Friday 26Jun20, 10am. Please register early by logging on to https://www.escrowagm.com/CDSCR/ or dialling *483*560#. For online registration kindly use Chrome browser. Reports are available on the Company website and you can email your questions to invest@imbank.co.ke. For further assistance contact CDSC Registrars on 0710888000 between 8am to 5pm. STOP*456*9*5# Life is short. Live passionately.
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Rank: Chief Joined: 1/3/2007 Posts: 18,047 Location: Nairobi
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sparkly wrote:Dear Shareholder, A kind reminder to register for the online AGM for I&M Holdings Plc scheduled on Friday 26Jun20, 10am. Please register early by logging on to https://www.escrowagm.com/CDSCR/ or dialling *483*560#. For online registration kindly use Chrome browser. Reports are available on the Company website and you can email your questions to invest@imbank.co.ke. For further assistance contact CDSC Registrars on 0710888000 between 8am to 5pm. STOP*456*9*5# Just the chrome browser? These guys need to move with the world. Edge. Safari. Firefox. Tor. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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