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KENOL/KOBIL
Sasha
#911 Posted : Tuesday, October 12, 2010 9:18:36 AM
Rank: Veteran

Joined: 9/5/2007
Posts: 627
Though the settlement agreement seems like the standard terms in such disputes, I also doubt the authenticity of this business daily report. This someone 'familiar' cannot be trusted after the recent gaffes in reporting on KK. Plus KK have no obligation to publicise the repayment terms. Like guru says Kshs 55 million is nothing considering the kind of business they have.
mwanahisa
#912 Posted : Tuesday, October 12, 2010 12:15:10 PM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
This is one instance where I would really appreciate it if KK could publish their 3rd Qtr results. I know they are no under no obligation to do so. Considering the uncertainty wrought by the struggles the group has had with 'em b******s, it would be a welcome exception.
VituVingiSana
#913 Posted : Tuesday, October 12, 2010 1:08:20 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,375
Location: Nairobi
@mwanahisa - I think they will hold off 3Q results or the b******s will want to raise the fees even higher! I am in it for the long-haul (well... 2013) coz I have seen their expansion in E&C Africa... & I like it!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
BGL
#914 Posted : Tuesday, October 12, 2010 2:58:51 PM
Rank: Veteran

Joined: 10/11/2009
Posts: 1,223
If you opt to do quarterly announcements then CMA REGULATIONS require that you report at the end of every quarter. KK can follow the route taken by their peers Total if they so wish.
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
mwanahisa
#915 Posted : Tuesday, October 12, 2010 3:58:38 PM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
BGL wrote:
If you opt to do quarterly announcements then CMA REGULATIONS require that you report at the end of every quarter. KK can follow the route taken by their peers Total if they so wish.
This can't be the case. I know for a fact that ARM does Half Yearly reports, plus another for the 3rd Qtr. The last time they did a report for Q1 I believe was in 2006. Kenya Re has also reported at Q3 level for the last 3 years, but not for Q1. In both cases CMA does not seem to have made it a requirement subsequently.
BGL
#916 Posted : Tuesday, October 12, 2010 5:29:31 PM
Rank: Veteran

Joined: 10/11/2009
Posts: 1,223
VituVingiSana wrote:
BGL wrote:
MR VVS... this is how your master Mr Segman...
WTF do you mean? Are you an effing mwarabu who thinks folks on wazua are slaves?
I have my own reservations but if in real world you call people all these names that you use here at Wazua!!! Well, God help you. You need to mind your worlds in public as well as in private.
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
VituVingiSana
#917 Posted : Tuesday, October 12, 2010 7:57:55 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,375
Location: Nairobi
mwanahisa wrote:
BGL wrote:
If you opt to do quarterly announcements then CMA REGULATIONS require that you report at the end of every quarter. KK can follow the route taken by their peers Total if they so wish.
This can't be the case. I know for a fact that ARM does Half Yearly reports, plus another for the 3rd Qtr. The last time they did a report for Q1 I believe was in 2006. Kenya Re has also reported at Q3 level for the last 3 years, but not for Q1. In both cases CMA does not seem to have made it a requirement subsequently.
I think Insurance firms + banks have to report quarterly... [Please double check on Insurance Firms. Banks have to coz they fall under the stricter rules of CBK]
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
mwanahisa
#918 Posted : Tuesday, October 12, 2010 8:41:19 PM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
Indeed banks have to publish their results quarterly - CBK requirements not CMA/NSE. Insurance companies under IRA rules actually only have to publish annual results. I have always thought this is way too lenient, given past collapses of insurance companies in Kenya. Listed insurance companies have to publish their interim results at the half year mark and then annually, under CMA/NSE listing rules. I am not sure about this , but I think that when a company issues a bond, it then has to report on a quarterly basis. Note the use of the word publishing as opposed to reporting. I guess you can report to NSE/CMA without necessarily publishing the results (in a newspaper). Car & General has been doing it for years. So has Cititrust. This is one reason for their low prices relative to their book values and earnings in my view. Very few folks know or care how they perform.
guru267
#919 Posted : Tuesday, October 12, 2010 8:44:59 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
VituVingiSana wrote:
I think Insurance firms + banks have to report quarterly... [Please double check on Insurance Firms. Banks have to coz they fall under the stricter rules of CBK]
@VVS I beg to differ... Kenya re never reports Q1 and Jubilee only reports H1 and H2... i see no real pattern in some companies' reporting and KK is one of them....
Mark 12:29 Deuteronomy 4:16
cnn
#920 Posted : Tuesday, October 12, 2010 9:17:34 PM
Rank: Veteran

Joined: 6/17/2009
Posts: 1,627
I prefer the wait to next year for the full year financials for KK,anything to extend the pussy footing for those who do not want to see this little gem and allow the believers to get more of it cheaply.The harvest will be in abundance.Only WTK is diverting some my funds that would have found way to KK.
238 Pages«<9091929394>»
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