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Cytonn Investments
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paulkimani
#661 Posted : Monday, January 06, 2020 11:11:05 AM
Rank: Member

Joined: 1/19/2016
Posts: 204
mnandii wrote:
paulkimani wrote:
https://edition.pagesuite.com/popovers/dynamic_article_popover.aspx?artguid=e8188b90-31ac-4e4f-84fd-cb7e7f07db7f&appid=3420 2020 is the year the ponzi falls.

Why are the other banks declining trusteeship? I wonder Liar



I wonder the same, but also some thoughts below to mull on


https://twitter.com/lang...213874296780709889?s=21

https://twitter.com/lang...1214084951760617472?s=21
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passiveinvestor
#662 Posted : Monday, January 06, 2020 12:45:58 PM
Rank: Member

Joined: 12/8/2006
Posts: 104
passiveinvestor wrote:
rwitre wrote:
Cytonn named most innovative property developer

LINK

Quote:

Cytonn Real Estate has been recognised by the International Finance Magazine as the most innovative community developer (mixed use) in Kenya during the International Finance Awards that took place on November 18.

The category is won by companies that demonstrate excellence in the residential and commercial property space in emerging markets.
.
.
Besides The Alma, Cytonn has other real estate projects including Amara Ridge in Karen, The Ridge, RiverRun, Taraji Heights, Applewood and NewTown. The company says it is running property developments worth a total of Sh82 billion.

This is all just PR fluff. That is a meaningless award in a very narrow, niche category (probably the only entrant from Kenya). Meanwhile, no CMA data on this supposed REIT so either not regulated or only for private placement with "sophisticated investors"

Now I see why no CMA data was available. However, Cytonn response is below:

https://cytonn.com/media-center/speeches
Regardless of my personal views on Cytonn, I AM concerned about anti-competitive behavior in any marketplace.
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mozenrat
#663 Posted : Tuesday, January 07, 2020 7:13:28 AM
Rank: Veteran

Joined: 5/18/2008
Posts: 796
paulkimani wrote:
rwitre wrote:
Horton wrote:

paulkimani wrote:

Angelica _ann wrote:

Cytonn goes for Sh2bn D-Reit to fund projects

Cytonn Investments has applied for a Development Real Estate Investment Trust (D-Reit) at the Capital Markets Authority seeking to raise Sh2 billion.

D-Reit meant to diversify real estate funding is expected to boost Cytonn sources for its real estate development pipeline with a project value of more than Sh82 billion.

Cytonn Real Estate Investment Analyst Bryan Gitia said the funds would be deployed in the development of Phase 1 of The Ridge and Phase 1 of RiverRun estates.

“The Ridge is a comprehensive aspirational lifestyle development on 10 acres in Ridgeways where stage one of the development is complete — including land acquisition, concept, foundation and is 50 percent presold; funds will go towards the second stage of superstructures construction,” he said.

“RiverRun is a master-planned mixed-use community on 100 acres in Ruiru, with a dedicated affordable housing component.”


https://www.businessdail...02378-qn1tx8/index.html



Cytonn is essentially asking for Kshs 2 billion in tax payers money. Cytonn also have released a report that says real estate is stagnant. Stating only facts, not opinions.


Dude get a life! U know cytonn post is not the only post on Wazua right?


Mnasumbua Horton holiday Laughing out loudly Laughing out loudly Laughing out loudly

Also, a D-Reit is not taxpayer's money.


Please read the below article: public/taxpayers - end of the day it’s the general public.
https://citizentv.co.ke/...nded-debt-issue-285345/

In summary:

TITLE “Cytonn lines up first publicly funded debt issue”

BODY OF ARTICLE “Investor manager Cytonn has sought approval from the Capital Markets Authority (CMA) to register its first Development Real Estate Investment Trust (D-REIT).

The approval will see the company seek out a projected Ksh.2 billion from the public with acquired funds being deployed in the construction of the first phases of two real estate projects in Kiambu’s Ridgeways and Ruiru.”



Raising money from the public is NOT the same as using taxpayer funds.. let’s not be dramatic just to pass a point.

Of greater concern to Cytonn’s survival is the failure to retain a Fund Manager after Coop Bank resigned and CMA’s threat to shut down their fundraising as a result.
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mwekez@ji
#664 Posted : Tuesday, January 07, 2020 9:33:53 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Court blocks CMA order on Cytonn unit trust

https://www.businessdailyafrica....408696-kwq1wt/index.html
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paulkimani
#665 Posted : Tuesday, January 07, 2020 11:36:22 AM
Rank: Member

Joined: 1/19/2016
Posts: 204
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winmak
#666 Posted : Tuesday, January 07, 2020 2:01:05 PM
Rank: Member

Joined: 12/1/2007
Posts: 539
Location: Nakuru
paulkimani wrote:
http://www.254news.co.ke/2020/01/07/is-this-the-end-of-cytonn/


Hapa ndio mambo iko

The banking industry reports that Non Performing Loans (NPLs) to real estate developers amount to KSh 43 Billion. Cytonn has bet boldly on real estate. Since the firm offers clients, through Cytonn High Yield Solutions LLP, rates of up to 18% p.a based on loans made to its own projects. After admitting that CHYS rates are based on loan pricing, Cytonn cannot pose as a better real estate risk manager than banking and insurance firms which have more established track records.

The falling Cytonn PLC is now acting as a bank thus offering loans to its own real estate projects at 18% p.a. This in real sense is not logical at all.
For investors as a whole, returns decrease as motion increases ~ WB
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passiveinvestor
#667 Posted : Tuesday, January 07, 2020 4:32:00 PM
Rank: Member

Joined: 12/8/2006
Posts: 104
winmak wrote:
paulkimani wrote:
http://www.254news.co.ke/2020/01/07/is-this-the-end-of-cytonn/


Hapa ndio mambo iko

The banking industry reports that Non Performing Loans (NPLs) to real estate developers amount to KSh 43 Billion. Cytonn has bet boldly on real estate. Since the firm offers clients, through Cytonn High Yield Solutions LLP, rates of up to 18% p.a based on loans made to its own projects. After admitting that CHYS rates are based on loan pricing, Cytonn cannot pose as a better real estate risk manager than banking and insurance firms which have more established track records.

The falling Cytonn PLC is now acting as a bank thus offering loans to its own real estate projects at 18% p.a. This in real sense is not logical at all.

There 3 licensed REIT Trustees:
1. Housing Finance Company (K) Limited
2 Co-operative Bank of Kenya Limited
3 Kenya Commercial Bank Limited

Seems Co-Op turned them down, but could be because they may have a conflict of interest, which is the right thing for them to do.

The trustee requirement allows for licensing of more than just banks, so the Cytonn argument that their petition is to force CMA to license additional trustees is misleading. The door is already open for additional entities to be licensed in the existing laws / regulations.
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passiveinvestor
#668 Posted : Wednesday, January 08, 2020 4:10:22 PM
Rank: Member

Joined: 12/8/2006
Posts: 104
passiveinvestor wrote:
winmak wrote:
paulkimani wrote:
http://www.254news.co.ke/2020/01/07/is-this-the-end-of-cytonn/


Hapa ndio mambo iko

The banking industry reports that Non Performing Loans (NPLs) to real estate developers amount to KSh 43 Billion. Cytonn has bet boldly on real estate. Since the firm offers clients, through Cytonn High Yield Solutions LLP, rates of up to 18% p.a based on loans made to its own projects. After admitting that CHYS rates are based on loan pricing, Cytonn cannot pose as a better real estate risk manager than banking and insurance firms which have more established track records.

The falling Cytonn PLC is now acting as a bank thus offering loans to its own real estate projects at 18% p.a. This in real sense is not logical at all.

There 3 licensed REIT Trustees:
1. Housing Finance Company (K) Limited
2 Co-operative Bank of Kenya Limited
3 Kenya Commercial Bank Limited

Seems Co-Op turned them down, but could be because they may have a conflict of interest, which is the right thing for them to do.

The trustee requirement allows for licensing of more than just banks, so the Cytonn argument that their petition is to force CMA to license additional trustees is misleading. The door is already open for additional entities to be licensed in the existing laws / regulations.

1. Throwback to Nov 2018: https://www.businessdail...6374-14bcp1p/index.html
2. Cytonn comments on initial ratings:
https://www.cytonn.com/d...l-media-comments-on-gcr

3. GCR Rating withdrawal Dec 20th 2019: https://gcrratings.com/a...anagement-plcs-ratings/
"CR Ratings (“GCR”) has withdrawn Cytonn Investments Management Plc’s Issuer ratings for analytical reasons. Accordingly, GCR will no longer provide analytical coverage on the Issuer. The long and short-term national scale Issuer ratings of B(KE)/B(KE) respectively could not be reviewed before withdrawal, due to the absence of sufficient information, and were last updated in November 2018."
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paulkimani
#669 Posted : Tuesday, January 14, 2020 7:53:54 AM
Rank: Member

Joined: 1/19/2016
Posts: 204
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paulkimani
#670 Posted : Tuesday, January 21, 2020 12:49:56 PM
Rank: Member

Joined: 1/19/2016
Posts: 204
https://www.google.co.uk...p-savings-platform/amp/

“Cytonn Investments, who has structured CAHIP, has partnered with the Cytonn Money Markey Fund managed by Cytonn Asset Managers Limited, to provide those saving towards home purchase with an attractive investment proposition, compared to those currently available in the market, with the target yield of 11.0 percent per annum”

oh dear ponzi
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