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Kenya Re - 2018 and beyond
obiero
#121 Posted : Monday, May 21, 2018 9:57:37 AM
Rank: Elder


Joined: 6/23/2009
Posts: 13,511
Location: nairobi
VituVingiSana wrote:
whiteowl wrote:
VituVingiSana wrote:
whiteowl wrote:
obiero wrote:
VituVingiSana wrote:
Ebenyo wrote:
mulla wrote:
obiero wrote:
Ebenyo wrote:
obiero wrote:
PBT up 8% y-on-y to stand at 3.7B up from 3.3B dividend KES 0.85


6% dividend increase not bad.

That's PAT actually. PBT 4.558 2017 vs 4.218 2016

Food for thought....closer to the 2022 gen. election might dividends be reduced for arap singh's campaign trail.......Think Think


Its not wise to make a decision based on fear.
The results so far are good.Lets wait for next audited results.
FY 2017 was under Mwarania. FY 2018 will be under the new regime. I fear that "real estate" investments will take a central role. We know what happened in years past.

Hehe


Even on its best days this share didn't generate any worthwhile gains so if you're still on this bus exit safely before 2022 carnage.

How do you define a worthwhile gain?
You are simply looking at the "share price" [BTW, I do not disagree with your conclusion now that the 2022 "eating" brigade is in charge] versus the gains in the intrinsic value over the past 6 years. The NAV (a lot of it in cash/T-Bonds) has almost doubled over 6 years.

Warren Buffett: “Long ago, Ben Graham taught me that ‘Price is what you pay; value is what you get.’ Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.”

Warren Buffett’s buying wisdom can be condensed into 2 statements:
1) Buy great businesses when they are trading at fair or better prices.
2) This occurs when short-term traders become pessimistic.

KenRe is a great business. It wasn't one for speculators over the past 6 years.
The catch is that a good manager has been replaced by a cabal of crooks.
I (currently) remain hopeful that the cabal is forced to competitively hire a good manager to replace Mwarania. Think KQ. I do not think they will allow Mwarania back. The sad bit about KQ is that Mikosz was brought in AFTER the looting was complete. The same could happen at KenRe.


Buffet also talks about looking at the character of the guys at the top before looking at the books.My reference to worthwhile gains was with in reference to anyone who may want to cash out now.

When I first invested in KenRe, it had was led by Mwarania. It was a steady solid performance. [EPS, NAV]. The recent (FY 2018) change is worrisome. I have not bought a single KenRe share since.

poor @vvs

HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
obiero
#122 Posted : Monday, May 21, 2018 10:01:16 AM
Rank: Elder


Joined: 6/23/2009
Posts: 13,511
Location: nairobi
@vvs seems your fear of GoK stocks is being manifested at KENRE

HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
Ericsson
#123 Posted : Monday, May 21, 2018 10:01:45 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
obiero wrote:
VituVingiSana wrote:
whiteowl wrote:
VituVingiSana wrote:
whiteowl wrote:
obiero wrote:
VituVingiSana wrote:
Ebenyo wrote:
mulla wrote:
obiero wrote:
Ebenyo wrote:
obiero wrote:
PBT up 8% y-on-y to stand at 3.7B up from 3.3B dividend KES 0.85


6% dividend increase not bad.

That's PAT actually. PBT 4.558 2017 vs 4.218 2016

Food for thought....closer to the 2022 gen. election might dividends be reduced for arap singh's campaign trail.......Think Think


Its not wise to make a decision based on fear.
The results so far are good.Lets wait for next audited results.
FY 2017 was under Mwarania. FY 2018 will be under the new regime. I fear that "real estate" investments will take a central role. We know what happened in years past.

Hehe


Even on its best days this share didn't generate any worthwhile gains so if you're still on this bus exit safely before 2022 carnage.

How do you define a worthwhile gain?
You are simply looking at the "share price" [BTW, I do not disagree with your conclusion now that the 2022 "eating" brigade is in charge] versus the gains in the intrinsic value over the past 6 years. The NAV (a lot of it in cash/T-Bonds) has almost doubled over 6 years.

Warren Buffett: “Long ago, Ben Graham taught me that ‘Price is what you pay; value is what you get.’ Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.”

Warren Buffett’s buying wisdom can be condensed into 2 statements:
1) Buy great businesses when they are trading at fair or better prices.
2) This occurs when short-term traders become pessimistic.

KenRe is a great business. It wasn't one for speculators over the past 6 years.
The catch is that a good manager has been replaced by a cabal of crooks.
I (currently) remain hopeful that the cabal is forced to competitively hire a good manager to replace Mwarania. Think KQ. I do not think they will allow Mwarania back. The sad bit about KQ is that Mikosz was brought in AFTER the looting was complete. The same could happen at KenRe.


Buffet also talks about looking at the character of the guys at the top before looking at the books.My reference to worthwhile gains was with in reference to anyone who may want to cash out now.

When I first invested in KenRe, it had was led by Mwarania. It was a steady solid performance. [EPS, NAV]. The recent (FY 2018) change is worrisome. I have not bought a single KenRe share since.

@vss seems your fear of GoK stocks is being manifested


Investing in Africa requires skill and skin
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ebenyo
#124 Posted : Monday, May 21, 2018 1:30:54 PM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,997
Location: Kitale
whiteowl wrote:
obiero wrote:
VituVingiSana wrote:
Ebenyo wrote:
mulla wrote:
obiero wrote:
Ebenyo wrote:
obiero wrote:
PBT up 8% y-on-y to stand at 3.7B up from 3.3B dividend KES 0.85


6% dividend increase not bad.

That's PAT actually. PBT 4.558 2017 vs 4.218 2016

Food for thought....closer to the 2022 gen. election might dividends be reduced for arap singh's campaign trail.......Think Think


Its not wise to make a decision based on fear.
The results so far are good.Lets wait for next audited results.
FY 2017 was under Mwarania. FY 2018 will be under the new regime. I fear that "real estate" investments will take a central role. We know what happened in years past.

Hehe


Even on its best days this share didn't generate any worthwhile gains so if you're still on this bus exit safely before 2022 carnage.


im not exiting.i will go by the financial results.so far so good.If Mwarania is back,good if they bring someone else,fine.
Towards the goal of financial freedom
murchr
#125 Posted : Monday, June 04, 2018 10:35:22 PM
Rank: Elder


Joined: 2/26/2012
Posts: 15,980
A court has directed Kenya Reinsurance Corporation and its former Managing Director Jadiah Mwarania to settle their dispute out of court.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
Angelica _ann
#126 Posted : Monday, June 04, 2018 10:38:09 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,908


He will be paid handsomely, but will not be reinstated!!!
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Ericsson
#127 Posted : Tuesday, June 05, 2018 8:43:32 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI


Hana support ya Kinyua at this time.He's alone so trying to get something
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#128 Posted : Tuesday, June 05, 2018 9:37:14 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
Ericsson wrote:

Hana support ya Kinyua at this time.He's alone so trying to get something
Sold down the river. The genesis of his dismissal it seems was the directive by Kinyua to him as CEO to process new candidates for the board.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ebenyo
#129 Posted : Tuesday, June 05, 2018 2:03:46 PM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,997
Location: Kitale


This is good directive.It will end the long protracted legal battle.
Mwarania should be paid his dues,then the company to hire a new MD and the issue will be over.
Under the polarised environment,mwarania cant work with the current board effectively.
Towards the goal of financial freedom
Ericsson
#130 Posted : Tuesday, June 05, 2018 2:13:53 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Ebenyo wrote:


This is good directive.It will end the long protracted legal battle.
Mwarania should be paid his dues,then the company to hire a new MD and the issue will be over.
Under the polarised environment,mwarania cant work with the current board effectively.


Spot on Ebenyo
He's fate sealed.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#131 Posted : Tuesday, June 05, 2018 3:57:46 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
Ebenyo wrote:


This is good directive.It will end the long protracted legal battle.
Mwarania should be paid his dues,then the company to hire a new MD and the issue will be over.
Under the polarised environment,mwarania cant work with the current board effectively.

This is not a good outcome. In essence, the Board can "buy out" Mwarania and then move on to looting KenRe.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#132 Posted : Tuesday, June 05, 2018 4:27:18 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
VituVingiSana wrote:
Ebenyo wrote:


This is good directive.It will end the long protracted legal battle.
Mwarania should be paid his dues,then the company to hire a new MD and the issue will be over.
Under the polarised environment,mwarania cant work with the current board effectively.

This is not a good outcome. In essence, the Board can "buy out" Mwarania and then move on to looting KenRe.


Who told you Mwarania is clean?
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
muandiwambeu
#133 Posted : Tuesday, June 05, 2018 7:34:30 PM
Rank: Veteran


Joined: 8/28/2015
Posts: 1,247
Ericsson wrote:
VituVingiSana wrote:
Ebenyo wrote:


This is good directive.It will end the long protracted legal battle.
Mwarania should be paid his dues,then the company to hire a new MD and the issue will be over.
Under the polarised environment,mwarania cant work with the current board effectively.

This is not a good outcome. In essence, the Board can "buy out" Mwarania and then move on to looting KenRe.


Who told you Mwarania is clean?

Me, of coarse, why do you doubt! Look at the diarrhea @knre post Mwarania agitation and infer the intentions of the lurking hyenas. Only skeletons will be left of this fat tailed lamb by day end. Somebody has been salaviting all a long and here came in wound Forte mwarania. Dice is cast, mti mkuu ukiangukia viota ndege wanjiku uwa masikiniDrool Drool Drool Drool
,Behold, a sower went forth to sow;....
Ericsson
#134 Posted : Tuesday, June 05, 2018 8:16:25 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
muandiwambeu wrote:
Ericsson wrote:
VituVingiSana wrote:
Ebenyo wrote:


This is good directive.It will end the long protracted legal battle.
Mwarania should be paid his dues,then the company to hire a new MD and the issue will be over.
Under the polarised environment,mwarania cant work with the current board effectively.

This is not a good outcome. In essence, the Board can "buy out" Mwarania and then move on to looting KenRe.


Who told you Mwarania is clean?

Me, of coarse, why do you doubt! Look at the diarrhea @knre post Mwarania agitation and infer the intentions of the lurking hyenas. Only skeletons will be left of this fat tailed lamb by day end. Somebody has been salaviting all a long and here came in wound Forte mwarania. Dice is cast, mti mkuu ukiangukia viota ndege wanjiku uwa masikiniDrool Drool Drool Drool


Now that he's decided to take an out of court settlement and go for the money means its nishtaki nikushtaki
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Superprime1
#135 Posted : Thursday, June 21, 2018 3:02:05 PM
Rank: Member


Joined: 5/2/2018
Posts: 267
Wasn't Kenya Re's book closure supposed to be today? Looks like it'll hurtle down from here on....
mulla
#136 Posted : Thursday, June 21, 2018 4:29:58 PM
Rank: Member


Joined: 6/15/2013
Posts: 301
Superprime1 wrote:
Wasn't Kenya Re's book closure supposed to be today? Looks like it'll hurtle down from here on....

It was Monday 18/06/2018.
Ericsson
#137 Posted : Thursday, June 21, 2018 4:43:25 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
mulla wrote:
Superprime1 wrote:
Wasn't Kenya Re's book closure supposed to be today? Looks like it'll hurtle down from here on....

It was Monday 18/06/2018.



"To approve payment of a first and final dividend of KShs 0.85 per share for the financial year
ended 31st December 2017 to the shareholders registered in our books as at 21st June 2018
on or about 3rd August 2018, as recommended by the Board, and approve the closure of the Register of Members on 22nd June 2018."
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Pesa Nane
#138 Posted : Friday, June 22, 2018 11:22:53 AM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
Ebenyo
#139 Posted : Friday, June 22, 2018 11:31:56 AM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,997
Location: Kitale
Pesa Nane wrote:



Now with this election,the politics of Kinyua and Mwarania is over.
These guys should move faster and recruit a new CEO immediately.
Mambo ya kortini iishe,Mwarania apewe pesa zake.Hio mambo iishie hapo.
Towards the goal of financial freedom
VituVingiSana
#140 Posted : Friday, June 22, 2018 3:43:12 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
Pesa Nane wrote:

What GoK wants...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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