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143 Pages«<138139140141142>»
Mumias Sugar huge demand
Njunge
#2781 Posted : Friday, November 29, 2019 9:52:44 AM
Rank: Elder


Joined: 2/7/2007
Posts: 921
Angelica _ann wrote:
[quote=FUNKY][quote=Angelica _ann][quote=FUNKY]

The factory itself is in a poor state of repairs and maintenance. Workers je, or the sugarcane will mill itself....


Apart from the Process house and 1 key boiler,the rest of the factory is not in bad condition. Still this requires quite some capital to put to work. Also,the good technical staff left and it is not easy replacing them. Wabuke is not new to Mumias having been an Agricultural manager there way back in the 90s. He is a good , well knowledged fellow but as I have indicated above,without capital and the right technical staff, KCB can bring Jesus and still fail.
HaMaina
#2782 Posted : Wednesday, December 18, 2019 10:51:17 AM
Rank: Member


Joined: 4/23/2014
Posts: 747
State to lose billions as Kibos Sugar set to relocate to Rwanda
“You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
kayhara
#2783 Posted : Thursday, December 19, 2019 1:00:32 PM
Rank: Veteran


Joined: 5/5/2011
Posts: 1,045
"Why Mumias Sugar won't trade on NSE until quarter2, 2020"
https://www.nation.co.ke...391446-4jrc54/index.html
To Each His Own
HaMaina
#2784 Posted : Thursday, December 19, 2019 3:15:42 PM
Rank: Member


Joined: 4/23/2014
Posts: 747
[quote=kayhara]"Why Mumias Sugar won't trade on NSE until quarter2, 2020"
https://www.nation.co.ke...91446-4jrc54/index.html[/quote]

Where is oparanya with his know it all recovery ideas and chini ya maji task force now?? Either the government task force was to work as one team, or the debtors would get jittery.
“You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
kayhara
#2785 Posted : Monday, December 23, 2019 5:05:36 PM
Rank: Veteran


Joined: 5/5/2011
Posts: 1,045

Sacked Mumias staff get Sh20,000 termination pay

Quote:
He added that the law provides for the employees to be paid last because they were not secured creditors when a firm has been placed under administration or is being liquidated.

The Sh20, 000 pay came as a shocker to the Mumias Sugar employees who are owed Sh2.4 billion in salary arrears and pension dues.

They are making this look like a good thing for mumias employees, but it's not.
To Each His Own
VituVingiSana
#2786 Posted : Tuesday, December 24, 2019 12:19:20 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,160
Location: Nairobi
kayhara wrote:

Sacked Mumias staff get Sh20,000 termination pay

Quote:
He added that the law provides for the employees to be paid last because they were not secured creditors when a firm has been placed under administration or is being liquidated.

The Sh20, 000 pay came as a shocker to the Mumias Sugar employees who are owed Sh2.4 billion in salary arrears and pension dues.

They are making this look like a good thing for mumias employees, but it's not.
Better take the 20k than get nothing at all.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ebenyo
#2787 Posted : Thursday, December 26, 2019 7:31:47 AM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,842
Location: Kitale
[quote=VituVingiSana][quote=kayhara]
Sacked Mumias staff get Sh20,000 termination pay

kcb should not spend more money here.It might prove hard to recoup it later.
Since they have placed mumias under receivership,let them ask the court to be allowed to sell some assets and recoup their ksh 545 million.Then Watoke hapo.
Otherwise they may end up spending more than mumias assets which is kshs 15 billion.
Towards the goal of financial freedom
obiero
#2788 Posted : Thursday, December 26, 2019 7:41:31 AM
Rank: Elder


Joined: 6/23/2009
Posts: 12,790
Location: nairobi
Ebenyo wrote:
[quote=VituVingiSana][quote=kayhara]
Sacked Mumias staff get Sh20,000 termination pay

kcb should not spend more money here.It might prove hard to recoup it later.
Since they have placed mumias under receivership,let them ask the court to be allowed to sell some assets and recoup their ksh 545 million.Then Watoke hapo.
Otherwise they may end up spending more than mumias assets which is kshs 15 billion.

Separation pay has to be made. Hauna roho wewe?
COOP 5,500 ABP12.6; HF 30,000 ABP 5.90; KCB 7,500 ABP 36; KQ 414,100 ABP 7.92
VituVingiSana
#2789 Posted : Thursday, December 26, 2019 8:02:19 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,160
Location: Nairobi
obiero wrote:
Ebenyo wrote:
[quote=VituVingiSana][quote=kayhara]
Sacked Mumias staff get Sh20,000 termination pay

kcb should not spend more money here.It might prove hard to recoup it later.
Since they have placed mumias under receivership,let them ask the court to be allowed to sell some assets and recoup their ksh 545 million.Then Watoke hapo.
Otherwise they may end up spending more than mumias assets which is kshs 15 billion.

Separation pay has to be made. Hauna roho wewe?
Mumias is bankrupt. They have not been working for 1-2 years. Many other Kenyans are suffering while Mumias got bailouts.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
obiero
#2790 Posted : Thursday, December 26, 2019 8:18:45 AM
Rank: Elder


Joined: 6/23/2009
Posts: 12,790
Location: nairobi
VituVingiSana wrote:
obiero wrote:
Ebenyo wrote:
[quote=VituVingiSana][quote=kayhara]
Sacked Mumias staff get Sh20,000 termination pay

kcb should not spend more money here.It might prove hard to recoup it later.
Since they have placed mumias under receivership,let them ask the court to be allowed to sell some assets and recoup their ksh 545 million.Then Watoke hapo.
Otherwise they may end up spending more than mumias assets which is kshs 15 billion.

Separation pay has to be made. Hauna roho wewe?
Mumias is bankrupt. They have not been working for 1-2 years. Many other Kenyans are suffering while Mumias got bailouts.

Severance pay is not a salary
COOP 5,500 ABP12.6; HF 30,000 ABP 5.90; KCB 7,500 ABP 36; KQ 414,100 ABP 7.92
Ericsson
#2791 Posted : Thursday, December 26, 2019 9:30:24 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,690
Location: NAIROBI
VituVingiSana wrote:
obiero wrote:
Ebenyo wrote:
[quote=VituVingiSana][quote=kayhara]
Sacked Mumias staff get Sh20,000 termination pay

kcb should not spend more money here.It might prove hard to recoup it later.
Since they have placed mumias under receivership,let them ask the court to be allowed to sell some assets and recoup their ksh 545 million.Then Watoke hapo.
Otherwise they may end up spending more than mumias assets which is kshs 15 billion.

Separation pay has to be made. Hauna roho wewe?
Mumias is bankrupt. They have not been working for 1-2 years. Many other Kenyans are suffering while Mumias got bailouts.

Those bailouts had negotiation fee to some well connected individuals
HaMaina
#2792 Posted : Thursday, December 26, 2019 10:22:27 AM
Rank: Member


Joined: 4/23/2014
Posts: 747
Ericsson wrote:
VituVingiSana wrote:
obiero wrote:
Ebenyo wrote:
[quote=VituVingiSana][quote=kayhara]
Sacked Mumias staff get Sh20,000 termination pay

kcb should not spend more money here.It might prove hard to recoup it later.
Since they have placed mumias under receivership,let them ask the court to be allowed to sell some assets and recoup their ksh 545 million.Then Watoke hapo.
Otherwise they may end up spending more than mumias assets which is kshs 15 billion.

Separation pay has to be made. Hauna roho wewe?
Mumias is bankrupt. They have not been working for 1-2 years. Many other Kenyans are suffering while Mumias got bailouts.

Those bailouts had negotiation fee to some well connected individuals


This is not quite a bail out, Mumias required funds to restart but was surrounded by parasites waiting to milk it dry. Mumias will be back to ethanol production from January and sugar by March. I think the government needed a neutral institution to oversee the sugar industry funds that were read in the last budget. I still have hope in Mumias.
“You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
VituVingiSana
#2793 Posted : Thursday, December 26, 2019 11:57:01 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,160
Location: Nairobi
obiero wrote:
VituVingiSana wrote:
obiero wrote:
Ebenyo wrote:
[quote=VituVingiSana][quote=kayhara]
Sacked Mumias staff get Sh20,000 termination pay

kcb should not spend more money here.It might prove hard to recoup it later.
Since they have placed mumias under receivership,let them ask the court to be allowed to sell some assets and recoup their ksh 545 million.Then Watoke hapo.
Otherwise they may end up spending more than mumias assets which is kshs 15 billion.

Separation pay has to be made. Hauna roho wewe?
Mumias is bankrupt. They have not been working for 1-2 years. Many other Kenyans are suffering while Mumias got bailouts.

Severance pay is not a salary
It's bankrupt. There is no money. If anyone should be paid after disposal of the assets, it should be KRA Laughing out loudly
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
obiero
#2794 Posted : Thursday, December 26, 2019 12:34:07 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,790
Location: nairobi
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:
Ebenyo wrote:
[quote=VituVingiSana][quote=kayhara]
Sacked Mumias staff get Sh20,000 termination pay

kcb should not spend more money here.It might prove hard to recoup it later.
Since they have placed mumias under receivership,let them ask the court to be allowed to sell some assets and recoup their ksh 545 million.Then Watoke hapo.
Otherwise they may end up spending more than mumias assets which is kshs 15 billion.

Separation pay has to be made. Hauna roho wewe?
Mumias is bankrupt. They have not been working for 1-2 years. Many other Kenyans are suffering while Mumias got bailouts.

Severance pay is not a salary
It's bankrupt. There is no money. If anyone should be paid after disposal of the assets, it should be KRA Laughing out loudly

Taxing what sales?
COOP 5,500 ABP12.6; HF 30,000 ABP 5.90; KCB 7,500 ABP 36; KQ 414,100 ABP 7.92
Ericsson
#2795 Posted : Thursday, December 26, 2019 12:47:08 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,690
Location: NAIROBI
obiero wrote:
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:
Ebenyo wrote:
[quote=VituVingiSana][quote=kayhara]
Sacked Mumias staff get Sh20,000 termination pay

kcb should not spend more money here.It might prove hard to recoup it later.
Since they have placed mumias under receivership,let them ask the court to be allowed to sell some assets and recoup their ksh 545 million.Then Watoke hapo.
Otherwise they may end up spending more than mumias assets which is kshs 15 billion.

Separation pay has to be made. Hauna roho wewe?
Mumias is bankrupt. They have not been working for 1-2 years. Many other Kenyans are suffering while Mumias got bailouts.

Severance pay is not a salary
It's bankrupt. There is no money. If anyone should be paid after disposal of the assets, it should be KRA Laughing out loudly

Taxing what sales?


Sale of plant and machinery
VituVingiSana
#2796 Posted : Thursday, December 26, 2019 1:49:35 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,160
Location: Nairobi
obiero wrote:
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:
Ebenyo wrote:
[quote=VituVingiSana][quote=kayhara]
Sacked Mumias staff get Sh20,000 termination pay

kcb should not spend more money here.It might prove hard to recoup it later.
Since they have placed mumias under receivership,let them ask the court to be allowed to sell some assets and recoup their ksh 545 million.Then Watoke hapo.
Otherwise they may end up spending more than mumias assets which is kshs 15 billion.

Separation pay has to be made. Hauna roho wewe?
Mumias is bankrupt. They have not been working for 1-2 years. Many other Kenyans are suffering while Mumias got bailouts.

Severance pay is not a salary
It's bankrupt. There is no money. If anyone should be paid after disposal of the assets, it should be KRA Laughing out loudly

Taxing what sales?
Outstanding dues. Laughing out loudly
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
obiero
#2797 Posted : Thursday, December 26, 2019 5:28:36 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,790
Location: nairobi
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:
Ebenyo wrote:
[quote=VituVingiSana][quote=kayhara]
Sacked Mumias staff get Sh20,000 termination pay

kcb should not spend more money here.It might prove hard to recoup it later.
Since they have placed mumias under receivership,let them ask the court to be allowed to sell some assets and recoup their ksh 545 million.Then Watoke hapo.
Otherwise they may end up spending more than mumias assets which is kshs 15 billion.

Separation pay has to be made. Hauna roho wewe?
Mumias is bankrupt. They have not been working for 1-2 years. Many other Kenyans are suffering while Mumias got bailouts.

Severance pay is not a salary
It's bankrupt. There is no money. If anyone should be paid after disposal of the assets, it should be KRA Laughing out loudly

Taxing what sales?
Outstanding dues. Laughing out loudly

You are cold blooded
COOP 5,500 ABP12.6; HF 30,000 ABP 5.90; KCB 7,500 ABP 36; KQ 414,100 ABP 7.92
obiero
#2798 Posted : Thursday, December 26, 2019 5:30:19 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,790
Location: nairobi
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:
Ebenyo wrote:
[quote=VituVingiSana][quote=kayhara]
Sacked Mumias staff get Sh20,000 termination pay

kcb should not spend more money here.It might prove hard to recoup it later.
Since they have placed mumias under receivership,let them ask the court to be allowed to sell some assets and recoup their ksh 545 million.Then Watoke hapo.
Otherwise they may end up spending more than mumias assets which is kshs 15 billion.

Separation pay has to be made. Hauna roho wewe?
Mumias is bankrupt. They have not been working for 1-2 years. Many other Kenyans are suffering while Mumias got bailouts.

Severance pay is not a salary
It's bankrupt. There is no money. If anyone should be paid after disposal of the assets, it should be KRA Laughing out loudly

Taxing what sales?
Outstanding dues. Laughing out loudly

You are cold blooded
COOP 5,500 ABP12.6; HF 30,000 ABP 5.90; KCB 7,500 ABP 36; KQ 414,100 ABP 7.92
VituVingiSana
#2799 Posted : Thursday, December 26, 2019 10:16:17 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,160
Location: Nairobi
obiero wrote:
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:
Ebenyo wrote:
[quote=VituVingiSana][quote=kayhara]
Sacked Mumias staff get Sh20,000 termination pay

kcb should not spend more money here.It might prove hard to recoup it later.
Since they have placed mumias under receivership,let them ask the court to be allowed to sell some assets and recoup their ksh 545 million.Then Watoke hapo.
Otherwise they may end up spending more than mumias assets which is kshs 15 billion.

Separation pay has to be made. Hauna roho wewe?
Mumias is bankrupt. They have not been working for 1-2 years. Many other Kenyans are suffering while Mumias got bailouts.

Severance pay is not a salary
It's bankrupt. There is no money. If anyone should be paid after disposal of the assets, it should be KRA Laughing out loudly

Taxing what sales?
Outstanding dues. Laughing out loudly

You are cold blooded
Maisha ni ngumu for shareholders.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Njunge
#2800 Posted : Friday, December 27, 2019 8:53:20 AM
Rank: Elder


Joined: 2/7/2007
Posts: 921
Selling machinery is out of the question since most of the valuable machines and equipment are custom made or immovable. The other thing is, other debtors have put a caveat on what they financed. Proparco financed the Cogen plant while Ecobank financed the distillery and this makes the receivership messy. I have seen the receiver manager make claims he will run the factory soon. To be honest,that man is a joker of some sort. It won't happen due to the current state of the factory and lack of expertise unless KCB is willing to spend more than they are claiming. KCB isn't claiming much in comparison to other banks. Sooner, they will realise they are throwing good money after bad. If I were the honcho at KCB, I would start considering this as a bad debt.
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