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Mhasibu Investment Company Limited (MICL) Rights
eco
#1 Posted : Friday, April 06, 2012 12:02:54 PM
Rank: Member


Joined: 6/17/2011
Posts: 229
MICL selling Rights to members at a price of Ksh. 150 per share, and to non-members at a price of Ksh.160 per share on condition that they buy shares whose total value is Ksh.1.0 million or more. Those buying such shares whose total value is less than Ksh.1.0 million will buy them at Ksh.165 per share. Has any Wazuan invested in this company? They aim to grow and list at the NSE. What are the prospects?


BGL
#2 Posted : Friday, April 06, 2012 3:04:07 PM
Rank: Veteran


Joined: 10/11/2009
Posts: 1,220
eco wrote:
MICL selling Rights to members at a price of Ksh. 150 per share, and to non-members at a price of Ksh.160 per share on condition that they buy shares whose total value is Ksh.1.0 million or more. Those buying such shares whose total value is less than Ksh.1.0 million will buy them at Ksh.165 per share. Has any Wazuan invested in this company? They aim to grow and list at the NSE. What are the prospects?




So those of us who have never been to an accounting class and do not qualify to join Mhasibu sacco can join the Investment Company. There is still time to apply and to make payments for those who are risk takers.
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
BGL
#3 Posted : Wednesday, April 11, 2012 12:26:54 PM
Rank: Veteran


Joined: 10/11/2009
Posts: 1,220
They are very efficient in replying to emails. The offer closes on 31.05.2012 and they say the minimum investment is 120K.
I also noted that the current Centum CEO is also a member of the board.
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
MKWASI
#4 Posted : Monday, April 23, 2012 1:03:36 PM
Rank: Member


Joined: 4/20/2012
Posts: 888
Thanks for the information.
Is this company that is being referred to here the one that was selling plots..read, Runda, Ruiru one and Ruiru two and Juja? More than two years and they are yet to process the tittle deeds. How will they do business in future with this reputation!!

@eco kindly furnish us with the company's details...i.e performance for the last five years and company's information. How are investors supposed to invest based on numbers ( Price of the shares). Can you also provide successful ventures that has been undertaken by the company.
I smell a rat!!
eco
#5 Posted : Wednesday, April 25, 2012 5:39:52 PM
Rank: Member


Joined: 6/17/2011
Posts: 229
MKWASI wrote:
Thanks for the information.
Is this company that is being referred to here the one that was selling plots..read, Runda, Ruiru one and Ruiru two and Juja? More than two years and they are yet to process the tittle deeds. How will they do business in future with this reputation!!

@eco kindly furnish us with the company's details...i.e performance for the last five years and company's information. How are investors supposed to invest based on numbers ( Price of the shares). Can you also provide successful ventures that has been undertaken by the company.
I smell a rat!!


There is a Mhasibu Housing Co. Ltd, selling plots in Nyeri-King'ong'o, Juja, Nakuru, Kisumu. Then a Mhasibu Investment Co. Ltd, selling plots in Twinmount Estate, Nyeri whose description is the same as those of Nyeri-King'ong'o being sold by Mhasibu Housing Co. Ltd. The origin of both companies is Mhasibu Sacco which features in another thread.

@Mkwasi, I was seeking for the same information you ask when I started thread.
Thiong'o
#6 Posted : Saturday, April 28, 2012 12:08:46 PM
Rank: Member


Joined: 10/14/2011
Posts: 660
eco wrote:
MKWASI wrote:
Thanks for the information.
Is this company that is being referred to here the one that was selling plots..read, Runda, Ruiru one and Ruiru two and Juja? More than two years and they are yet to process the tittle deeds. How will they do business in future with this reputation!!

@eco kindly furnish us with the company's details...i.e performance for the last five years and company's information. How are investors supposed to invest based on numbers ( Price of the shares). Can you also provide successful ventures that has been undertaken by the company.
I smell a rat!!


There is a Mhasibu Housing Co. Ltd, selling plots in Nyeri-King'ong'o, Juja, Nakuru, Kisumu. Then a Mhasibu Investment Co. Ltd, selling plots in Twinmount Estate, Nyeri whose description is the same as those of Nyeri-King'ong'o being sold by Mhasibu Housing Co. Ltd. The origin of both companies is Mhasibu Sacco which features in another thread.

@Mkwasi, I was seeking for the same information you ask when I started thread.


@eco @ MKWASI let me have your email
eco
#7 Posted : Saturday, April 28, 2012 2:03:16 PM
Rank: Member


Joined: 6/17/2011
Posts: 229
Thiong'o wrote:
@eco @ MKWASI let me have your email


@Thiong'o, my email is funecosystems [at] gmail [dot] com
BGL
#8 Posted : Saturday, April 28, 2012 3:39:50 PM
Rank: Veteran


Joined: 10/11/2009
Posts: 1,220
eco wrote:
Thiong'o wrote:
@eco @ MKWASI let me have your email


@Thiong'o, my email is funecosystems [at] gmail [dot] com


My email is: Bgl.inc.1[at]gmail.com
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
MKWASI
#9 Posted : Monday, April 30, 2012 1:56:22 PM
Rank: Member


Joined: 4/20/2012
Posts: 888
@Thiong'o
My email is mkwasiwembe@gmail.com
eco
#10 Posted : Monday, April 30, 2012 4:37:02 PM
Rank: Member


Joined: 6/17/2011
Posts: 229
@Thiong'o, received, I appreciate. Regards.
BGL
#11 Posted : Monday, April 30, 2012 4:46:33 PM
Rank: Veteran


Joined: 10/11/2009
Posts: 1,220
eco wrote:
@Thiong'o, received, I appreciate. Regards.


I got it too. Thanks
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
BGL
#12 Posted : Monday, July 30, 2012 10:31:21 PM
Rank: Veteran


Joined: 10/11/2009
Posts: 1,220
Mhasibu to list at NSE once it hits Sh1 billion in assets

http://www.businessdaily.../-/rhukc0z/-/index.html

@hunder...... na wale wengine interested in OTC. As i have said in other posts, MICL is very active in the OTC market. The good thing with MICL is that the board members hold the majority shares...... the strategy of VVS.

You can download their audited 2011 accounts here http://micl.co.ke/images...L%20Accounts%202011.pdf

The wazua experts like bwana @deal please peruse the numbers and tell us how far MICL assets are from 1bn.
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
maligumu
#13 Posted : Monday, July 30, 2012 10:50:47 PM
Rank: Member


Joined: 2/22/2010
Posts: 510
Location: De egg
BGL wrote:
Mhasibu to list at NSE once it hits Sh1 billion in assets

http://www.businessdaily.../-/rhukc0z/-/index.html

@hunder...... na wale wengine interested in OTC. As i have said in other posts, MICL is very active in the OTC market. The good thing with MICL is that the board members hold the majority shares...... the strategy of VVS.

You can download their audited 2011 accounts here http://micl.co.ke/images...L%20Accounts%202011.pdf



@BG what is the current OTC prices for this share and which brokers could be dealing with them .
Peace be with you
BGL
#14 Posted : Monday, July 30, 2012 10:55:03 PM
Rank: Veteran


Joined: 10/11/2009
Posts: 1,220
maligumu wrote:
BGL wrote:
Mhasibu to list at NSE once it hits Sh1 billion in assets

http://www.businessdaily.../-/rhukc0z/-/index.html

@hunder...... na wale wengine interested in OTC. As i have said in other posts, MICL is very active in the OTC market. The good thing with MICL is that the board members hold the majority shares...... the strategy of VVS.

You can download their audited 2011 accounts here http://micl.co.ke/images...L%20Accounts%202011.pdf



@BG what is the current OTC prices for this share and which brokers could be dealing with them .


Its an in-house process by the company secretary (no brokers) OTC done once a month! Those selling are asking for Ksh 170. Bids are opened on a specified bid and the highest bidder gets the shares.
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
accelriskconsult
#15 Posted : Tuesday, July 31, 2012 11:25:31 AM
Rank: Member


Joined: 4/2/2011
Posts: 629
Location: Nai
BGL wrote:
maligumu wrote:
BGL wrote:
Mhasibu to list at NSE once it hits Sh1 billion in assets

http://www.businessdaily.../-/rhukc0z/-/index.html

@hunder...... na wale wengine interested in OTC. As i have said in other posts, MICL is very active in the OTC market. The good thing with MICL is that the board members hold the majority shares...... the strategy of VVS.

You can download their audited 2011 accounts here http://micl.co.ke/images...L%20Accounts%202011.pdf



@BG what is the current OTC prices for this share and which brokers could be dealing with them .


Its an in-house process by the company secretary (no brokers) OTC done once a month! Those selling are asking for Ksh 170. Bids are opened on a specified bid and the highest bidder gets the shares.


Based on the financials the valution of 170 bob sounds too high. with a PE f 17 bob, investment in MICL sounds more like an investment in potential which is tricky for thinly capitalised companies.
eco
#16 Posted : Tuesday, July 31, 2012 12:40:55 PM
Rank: Member


Joined: 6/17/2011
Posts: 229
I took the risk and bought the rights. If micl maintains good management, remains diversified and maintain the growth in asset portfolio, the milestone of 1 B is achievable.
BGL
#17 Posted : Thursday, April 03, 2014 6:49:12 PM
Rank: Veteran


Joined: 10/11/2009
Posts: 1,220
When is MICL publishing their Financial report for FY2013?
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
ZZE123
#18 Posted : Tuesday, April 08, 2014 8:54:17 AM
Rank: Elder


Joined: 6/21/2008
Posts: 2,490
BGL wrote:
When is MICL publishing their Financial report for FY2013?

They should first process the titles of the plots they sold over 4 years ago!!!NKT
The man who marries a beautiful woman, and the farmer who grows corn by the roadside have the same problem
BGL
#19 Posted : Friday, April 25, 2014 12:02:12 PM
Rank: Veteran


Joined: 10/11/2009
Posts: 1,220
I attended the MICL AGM yesterday @ Serena Hotel. Here are the highlights.
- MICL has 327 shareholders with top 10 shareholders holding 51.85% stake and half of them are board members.
- Total assets up to 747mn from 530mn
- Net profit jumped from 7.4mn to 122.7mn in FY 2013.
-EPS up to 101.07 from 6.71
- As is the tradition, no dividend is declared BUT a BONUS of 1 share for every 5 held was passed.
- There is an active OTC market for those wishing to convert their bonus shares into dividend
-The company is looking forward to investing in development of a housing project targeting the middle + lower middle class segment in the future.....a shareholder briefing coming soon.
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
eco
#20 Posted : Friday, April 25, 2014 1:28:34 PM
Rank: Member


Joined: 6/17/2011
Posts: 229
BGL wrote:
I attended the MICL AGM yesterday @ Serena Hotel. Here are the highlights.
- MICL has 327 shareholders with top 10 shareholders holding 51.85% stake and half of them are board members.
- Total assets up to 747mn from 530mn
- Net profit jumped from 7.4mn to 122.7mn in FY 2013.
-EPS up to 101.07 from 6.71
- As is the tradition, no dividend is declared BUT a BONUS of 1 share for every 5 held was passed.
- There is an active OTC market for those wishing to convert their bonus shares into dividend
-The company is looking forward to investing in development of a housing project targeting the middle + lower middle class segment in the future.....a shareholder briefing coming soon.


Thank you @BGL for the brief. Did the AGM agree on a new share price?
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