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Centum FY2022 - FY2026
watesh
#61 Posted : Tuesday, November 16, 2021 12:56:27 PM
Rank: Veteran


Joined: 8/10/2014
Posts: 907
Location: Kenya
Ericsson wrote:
watesh wrote:
Ericsson wrote:
https://www.kahawatungu.com/how-james-mworia-has-killed-centum-investment/

It's been circulating


My main concern here is the debt esp at TRDL. However, Mworia said they are looking for a buyer to sell a chunk of the company to and use the proceeds to pay off the debt in it. The debt there has become a wild animal that can't be tamed easily

Debts at CentumRe, in my understanding, was to bridge the gap between selling, collection and construction. If selling or collection slows down, they may have to funnel cash from marketable securities to pay off the debt.


Which marketable securities are this.
If it's in the NSE quotable securities,Centum exited.


7.5bn in fixed income securities (Govt and corporate bonds). They call them "marketable securities"
maka
#62 Posted : Wednesday, November 17, 2021 12:56:47 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,516
Location: Nairobi
watesh wrote:
Ericsson wrote:
watesh wrote:
Ericsson wrote:
https://www.kahawatungu.com/how-james-mworia-has-killed-centum-investment/

It's been circulating


My main concern here is the debt esp at TRDL. However, Mworia said they are looking for a buyer to sell a chunk of the company to and use the proceeds to pay off the debt in it. The debt there has become a wild animal that can't be tamed easily

Debts at CentumRe, in my understanding, was to bridge the gap between selling, collection and construction. If selling or collection slows down, they may have to funnel cash from marketable securities to pay off the debt.


Which marketable securities are this.
If it's in the NSE quotable securities,Centum exited.


7.5bn in fixed income securities (Govt and corporate bonds). They call them "marketable securities"



Shouldn't it be around 4.25 Bn?
possunt quia posse videntur
watesh
#63 Posted : Wednesday, November 17, 2021 10:23:28 AM
Rank: Veteran


Joined: 8/10/2014
Posts: 907
Location: Kenya
maka wrote:
watesh wrote:
Ericsson wrote:
watesh wrote:
Ericsson wrote:
https://www.kahawatungu.com/how-james-mworia-has-killed-centum-investment/

It's been circulating


My main concern here is the debt esp at TRDL. However, Mworia said they are looking for a buyer to sell a chunk of the company to and use the proceeds to pay off the debt in it. The debt there has become a wild animal that can't be tamed easily

Debts at CentumRe, in my understanding, was to bridge the gap between selling, collection and construction. If selling or collection slows down, they may have to funnel cash from marketable securities to pay off the debt.


Which marketable securities are this.
If it's in the NSE quotable securities,Centum exited.


7.5bn in fixed income securities (Govt and corporate bonds). They call them "marketable securities"



Shouldn't it be around 4.25 Bn?


As per their reports year-end 31st March, Govt bonds (3.2bn), Corp bonds (2.2bn), Cash (1.6bn), Mutual Funds (0.5bn) and Equities (69mn)
Ericsson
#64 Posted : Saturday, November 20, 2021 10:13:02 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,306
Location: NAIROBI
Bricklane Research
@BricklaneCapita
Replying to
@mtucreativity @coldtusker and 12 others
I am sure some here might have an auditor, accountant or even better a forensic accountant. Try sending them Centum financials and let them give you their opinion. I would like to be best proved wrong.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#65 Posted : Saturday, November 20, 2021 10:14:19 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,306
Location: NAIROBI
Bricklane Research
@BricklaneCapita
Replying to
@mtucreativity @coldtusker and 12 others
Take a look at Centum net earnings and it's operating cash flow. That's likely all you need. Just ask any accountant what happens to a company that makes more accounting profit than real cashflow constantly. It's easy to figure out it's running on debt.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#66 Posted : Saturday, November 20, 2021 10:15:24 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,306
Location: NAIROBI
Bricklane Research
@BricklaneCapita
Replying to
@mtucreativity @coldtusker and 12 others
Centum NAV is made up of 90% fair value reserves a.k.a smoke and mirror. The NAV grew too fast due to aggressive fair value gains that ROE went to the dogs. It used to be a constant feature back in 2014-15 era. Today it's hardly ever mentioned.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#67 Posted : Tuesday, November 30, 2021 9:29:46 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,306
Location: NAIROBI
Centum Investment company reports a loss of Kes.662.1mn in the first six months ended September 30 2021
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
watesh
#68 Posted : Tuesday, November 30, 2021 9:43:15 AM
Rank: Veteran


Joined: 8/10/2014
Posts: 907
Location: Kenya
Ericsson wrote:
Centum Investment company reports a loss of Kes.662.1mn in the first six months ended September 30 2021


Finance costs from TRDL and the other real estate portfolio eating up a lot of cash.....Out of 12 companies invested in, only 3 made a cash distribution.
VituVingiSana
#69 Posted : Wednesday, December 01, 2021 11:51:10 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,744
Location: Nairobi
watesh wrote:
Ericsson wrote:
Centum Investment company reports a loss of Kes.662.1mn in the first six months ended September 30 2021


Finance costs from TRDL and the other real estate portfolio eating up a lot of cash.....Out of 12 companies invested in, only 3 made a cash distribution.
More cash can be expected by March 2022 since some may pay after FY2021 results.

There was a turnaround from FY2021 with all the drama around COVID.
There was a FV Loss but that's a non-cash item and just reverses prior years FV Gains.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
xtina
#70 Posted : Wednesday, February 02, 2022 9:36:10 AM
Rank: Member


Joined: 6/26/2008
Posts: 349
Centum at 14 bob, looks very attractive. Dividends may also go back to 1 bob
Ericsson
#71 Posted : Wednesday, February 02, 2022 1:22:25 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,306
Location: NAIROBI
xtina wrote:
Centum at 14 bob, looks very attractive. Dividends may also go back to 1 bob


We wait and see,though it looks unlikely in the short term.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#72 Posted : Wednesday, February 02, 2022 4:29:09 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,744
Location: Nairobi
xtina wrote:
Centum at 14 bob, looks very attractive. Dividends may also go back to 1 bob

I expect 1.20 but it may be 9 more months before we see a penny!

EOY 31 Mar 2022
Results deadline 31 Jul 2022
AGM in Sep 2022 (24 Sep 2021)
Dividend Payment Oct 2022 (8 Oct 2021)
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#73 Posted : Wednesday, February 02, 2022 6:02:57 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,306
Location: NAIROBI
VituVingiSana wrote:
xtina wrote:
Centum at 14 bob, looks very attractive. Dividends may also go back to 1 bob

I expect 1.20 but it may be 9 more months before we see a penny!

EOY 31 Mar 2022
Results deadline 31 Jul 2022
AGM in Sep 2022 (24 Sep 2021)
Dividend Payment Oct 2022 (8 Oct 2021)



It will be a herculean task to overturn the loss they reported during half year.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
watesh
#74 Posted : Wednesday, February 02, 2022 8:25:33 PM
Rank: Veteran


Joined: 8/10/2014
Posts: 907
Location: Kenya
Ericsson wrote:
VituVingiSana wrote:
xtina wrote:
Centum at 14 bob, looks very attractive. Dividends may also go back to 1 bob

I expect 1.20 but it may be 9 more months before we see a penny!

EOY 31 Mar 2022
Results deadline 31 Jul 2022
AGM in Sep 2022 (24 Sep 2021)
Dividend Payment Oct 2022 (8 Oct 2021)



It will be a herculean task to overturn the loss they reported during half year.


Consolidated report, highly likely to be in losses coz of TRDL but company income statement is looking at a 700m - 1bn operating profit depending on what Centum Re pays out to Centum. Dividends are paid out from the Company Income statement so there is some optimism for a better dividend this year.
VituVingiSana
#75 Posted : Thursday, February 03, 2022 3:13:48 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,744
Location: Nairobi
watesh wrote:
Ericsson wrote:
VituVingiSana wrote:
xtina wrote:
Centum at 14 bob, looks very attractive. Dividends may also go back to 1 bob

I expect 1.20 but it may be 9 more months before we see a penny!

EOY 31 Mar 2022
Results deadline 31 Jul 2022
AGM in Sep 2022 (24 Sep 2021)
Dividend Payment Oct 2022 (8 Oct 2021)



It will be a herculean task to overturn the loss they reported during half year.


Consolidated report, highly likely to be in losses coz of TRDL but company income statement is looking at a 700m - 1bn operating profit depending on what Centum Re pays out to Centum. Dividends are paid out from the Company Income statement so there is some optimism for a better dividend this year.
Applause Applause Applause I get tired of explaining that point to neophytes and those who don't like digging deeper.

Unless CICP has to pony up cash (guarantees, etc) to support TRDL, then TRDL's woes (which are being worked on) don't really affect CICP as far as cashflows are concerned.

CICP/Almasi won the 3bn case against KRA regarding taxes on deposits for bottles which "released" cash that was used as collateral.

Another 3bn case was won by ACE at TAT but ACE though KRA will appeal.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#76 Posted : Monday, March 07, 2022 6:05:47 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,306
Location: NAIROBI
Investment firm Centum Plc has tapped Risper Alaro,a former head of one of its subsidiaries and Group Finance director as the Group Finance director effective March 15.
Ms Alaro worked in Centum for 18 years in various roles, including the director of finance and operations and Centum Business Solutions MD and now returns to a new role since she left the firm in 2018

https://pbs.twimg.com/me...ormat=jpg&name=small
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
watesh
#77 Posted : Friday, March 18, 2022 8:50:29 AM
Rank: Veteran


Joined: 8/10/2014
Posts: 907
Location: Kenya
Samuel Kariuki has left Centum Real Estate and Kenneth Mbae takes over as the new managing director of Centum RE.....something fishy is going on at Centum. Two people in the senior management team have left in the space of a month
Ericsson
#78 Posted : Friday, March 18, 2022 10:08:44 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,306
Location: NAIROBI
watesh wrote:
Samuel Kariuki has left Centum Real Estate and Kenneth Mbae takes over as the new managing director of Centum RE.....something fishy is going on at Centum. Two people in the senior management team have left in the space of a month


Cleanup by Maryann Musangi
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#79 Posted : Friday, March 18, 2022 10:46:53 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,744
Location: Nairobi
watesh wrote:
Samuel Kariuki has left Centum Real Estate and Kenneth Mbae takes over as the new managing director of Centum RE.....something fishy is going on at Centum. Two people in the senior management team have left in the space of a month
This must have been a few months in the making. It just happens the announcements happened in March 2022 since the year end is March.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
watesh
#80 Posted : Friday, March 18, 2022 11:52:04 AM
Rank: Veteran


Joined: 8/10/2014
Posts: 907
Location: Kenya
Ericsson wrote:
watesh wrote:
Samuel Kariuki has left Centum Real Estate and Kenneth Mbae takes over as the new managing director of Centum RE.....something fishy is going on at Centum. Two people in the senior management team have left in the space of a month


Cleanup by Maryann Musangi


When you start seeing stories like these floating all over, there is something going on. Not sure if they are true but no smoke without fire. All came out before the official announcement.

https://kenyandigest.com...ment-debacle-of-centum/

https://www.cnyakundi.co...fraud-and-sex-scandals/

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