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KenyaRe FY19 - FY23 (Both Inclusive)
Rank: Elder Joined: 12/7/2012 Posts: 11,908
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sparkly wrote:heri wrote:i hope this is not among the assets in kenya Re's Bal sheet https://www.nation.co.ke...twitter_impression=true
Kenya Re has made a counterclaim against Scenaries Limited, asking for a fresh transfer of the title for the parcel it bought, or else the firm should pay Kenya Re Sh6.5 billion and damages for breach of contract I am lost in the story. What are the facts?: 1. Kenya re was sold fake 97 Acres of land for 550m by KANU mt. Kenya mafia i.e. all 550m lost; or 2. Kenya re bought 97 acres which included 5 Acre Karura land i.e. Kenya Re was only conned 5 acres but has genuine 92 acres? Scenario 1; Kenya Re has a fake title and therefore lost everything ..... if the story is true, which I think it is. 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: 10,684 Location: NAIROBI
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Angelica _ann wrote:sparkly wrote:heri wrote:i hope this is not among the assets in kenya Re's Bal sheet https://www.nation.co.ke...twitter_impression=true
Kenya Re has made a counterclaim against Scenaries Limited, asking for a fresh transfer of the title for the parcel it bought, or else the firm should pay Kenya Re Sh6.5 billion and damages for breach of contract I am lost in the story. What are the facts?: 1. Kenya re was sold fake 97 Acres of land for 550m by KANU mt. Kenya mafia i.e. all 550m lost; or 2. Kenya re bought 97 acres which included 5 Acre Karura land i.e. Kenya Re was only conned 5 acres but has genuine 92 acres? Scenario 1; Kenya Re has a fake title and therefore lost everything ..... if the story is true, which I think it is. Scenario 2;If DCI has his way SK Macharia will be declared bankrupt/insolvent if he's found guilty/unable to raise the money.His Royal media empire taken over by powerful forces Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,101 Location: Nairobi
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Ericsson wrote:Angelica _ann wrote:sparkly wrote:heri wrote:i hope this is not among the assets in kenya Re's Bal sheet https://www.nation.co.ke...twitter_impression=true
Kenya Re has made a counterclaim against Scenaries Limited, asking for a fresh transfer of the title for the parcel it bought, or else the firm should pay Kenya Re Sh6.5 billion and damages for breach of contract I am lost in the story. What are the facts?: 1. Kenya re was sold fake 97 Acres of land for 550m by KANU mt. Kenya mafia i.e. all 550m lost; or 2. Kenya re bought 97 acres which included 5 Acre Karura land i.e. Kenya Re was only conned 5 acres but has genuine 92 acres? Scenario 1; Kenya Re has a fake title and therefore lost everything ..... if the story is true, which I think it is. Scenario 2;If DCI has his way SK Macharia will be declared bankrupt/insolvent if he's found guilty/unable to raise the money.His Royal media empire taken over by powerful forces Kenya Re is not at risk. This is an old case which has been in the news/papers earlier. Prudently, Kenya Re should have, and probably has, removed it from its assets until there is a final resolution. It's like writing down an asset. Kenya Re will eventually get a judgement against Scenaries Ltd or a new "clean" title for the land. 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: 18,101 Location: Nairobi
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This Karura land matter has been ongoing for years. Wachana na kelele ya chura. Kenya Re cannot lose any more except for lawyers' fees but can get upto 6.5bn in value though this can take many, many years. https://abacus.co.ke/new...ver-prime-nairobi-land/
From the 2018 Annual Report 43. INVENTORY PROPERTY – GROUP and COMPANY Cost: 918,077,000 Less: Impairment provision (918,077,000) There was no movement in impairment provision for inventory. The impairment allowance mainly relates to inventory properties that are currently in dispute and are subject to ongoing court cases. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 9/14/2011 Posts: 834 Location: nairobi
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https://citizentv.co.ke/...vid-19-pandemic-334859/
Regional based re-insurer Kenya-Re has projected a Ksh.1 billion revenue hit from increased claims and rebates on premiums as businesses globally seek to negotiate their contracts with underwriters and re-insurers. According to Kenya Re Managing Director Mr. Jadiah Mwarania, the five per cent hit will be ‘the worst case scenario’ for the corporation in the wake of anticipated business losses occasioned by the pandemic.
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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https://www.reinsurancen...s-loss-due-to-pandemic/
Good financial reporting and forecasting Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Dividend book closure was today 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:Dividend book closure was today What is the payment date for our 10 cents? Life is short. Live passionately.
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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sparkly wrote:Ericsson wrote:Dividend book closure was today What is the payment date for our 10 cents? Subject to appointment of Auditor General. A substantive holder is expected to be in place by July 1 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:sparkly wrote:Ericsson wrote:Dividend book closure was today What is the payment date for our 10 cents? Subject to appointment of Auditor General. A substantive holder is expected to be in place by July 1 Asante Life is short. Live passionately.
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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sparkly wrote:Ericsson wrote:sparkly wrote:Ericsson wrote:Dividend book closure was today What is the payment date for our 10 cents? Subject to appointment of Auditor General. A substantive holder is expected to be in place by July 1 Asante July 1, won't happen considering the interviews are not yet done. 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: 10,684 Location: NAIROBI
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Angelica _ann wrote:sparkly wrote:Ericsson wrote:sparkly wrote:Ericsson wrote:Dividend book closure was today What is the payment date for our 10 cents? Subject to appointment of Auditor General. A substantive holder is expected to be in place by July 1 Asante July 1, won't happen considering the interviews are not yet done. Interviews ended last week June 3 and 4th Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Ericsson wrote:Angelica _ann wrote:sparkly wrote:Ericsson wrote:sparkly wrote:Ericsson wrote:Dividend book closure was today What is the payment date for our 10 cents? Subject to appointment of Auditor General. A substantive holder is expected to be in place by July 1 Asante July 1, won't happen considering the interviews are not yet done. Interviews ended last week June 3 and 4th Haiya behind 'our' backs.  Anyway let them appoint we move on. I guess it doesn't even matter anymore!!! 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: 10,684 Location: NAIROBI
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Angelica _ann wrote:Ericsson wrote:Angelica _ann wrote:sparkly wrote:Ericsson wrote:sparkly wrote:Ericsson wrote:Dividend book closure was today What is the payment date for our 10 cents? Subject to appointment of Auditor General. A substantive holder is expected to be in place by July 1 Asante July 1, won't happen considering the interviews are not yet done. Interviews ended last week June 3 and 4th Haiya behind 'our' backs. Anyway let them appoint we move on. I guess it doesn't even matter anymore!!! No it was on media wewe ndio hukusoma Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,101 Location: Nairobi
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VituVingiSana wrote:young wrote:Ericsson wrote:Kenya Re FY 2019 my projection is an EPS of ksh.1 or Profit After Tax of ksh.2.8bn
Dividend per share of ksh.0.25-0.3 post bonus issue.
Price range post release of the FY2019 results ksh.7-8 "Kindly" expect 10 cent div next year with EPS of 65 cents. Reinsurance sector is at distress coupled with lack lustre GOK owned management . The Match: HT results/preview in Sep 2019 but final results TBA in Mar 2020 Contestants: Young vs Ericsson EPS: 0.65 vs 1.00 Dividend: 0.10 vs 0.25 @young  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: 10,684 Location: NAIROBI
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Kenya Re AGM postponement https://mobile.twitter.c...3153858131439620/photo/2Wealth 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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[quote=Ericsson]Kenya Re AGM postponement https://mobile.twitter.c...153858131439620/photo/2[/quote] Is 10 cent dividend on course or is also postponed? Life is short. Live passionately.
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Also postponed. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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The FV gain on revaluation was the Mbagathi way land. Part of it was sold to NLC and KURA for construction of the upper hill to mbagathi way link road which has been completed and open to motorists Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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VituVingiSana wrote:Ericsson wrote:Angelica _ann wrote:sparkly wrote:heri wrote:i hope this is not among the assets in kenya Re's Bal sheet https://www.nation.co.ke...twitter_impression=true
Kenya Re has made a counterclaim against Scenaries Limited, asking for a fresh transfer of the title for the parcel it bought, or else the firm should pay Kenya Re Sh6.5 billion and damages for breach of contract I am lost in the story. What are the facts?: 1. Kenya re was sold fake 97 Acres of land for 550m by KANU mt. Kenya mafia i.e. all 550m lost; or 2. Kenya re bought 97 acres which included 5 Acre Karura land i.e. Kenya Re was only conned 5 acres but has genuine 92 acres? Scenario 1; Kenya Re has a fake title and therefore lost everything ..... if the story is true, which I think it is. Scenario 2;If DCI has his way SK Macharia will be declared bankrupt/insolvent if he's found guilty/unable to raise the money.His Royal media empire taken over by powerful forces Kenya Re is not at risk. This is an old case which has been in the news/papers earlier. Prudently, Kenya Re should have, and probably has, removed it from its assets until there is a final resolution. It's like writing down an asset. Kenya Re will eventually get a judgement against Scenaries Ltd or a new "clean" title for the land. In their financial statements/books,they have stopped listing ownership of the parcel of land Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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