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Centum half year result 2019/2020
sparkly
#41 Posted : Friday, December 06, 2019 11:37:38 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,891
Location: Enk are Nyirobi
VituVingiSana wrote:
sparkly wrote:
VituVingiSana wrote:
sparkly wrote:
VituVingiSana wrote:
Horton wrote:
VituVingiSana wrote:
Horton wrote:
VituVingiSana wrote:
sparkly wrote:
muganda wrote:
Curiously:
Consolidated income statement +226%
Company income statement -273%

Gains on disposal of Almasi 2.6bn
Writedown on Amu Power -2.3bn

Net Asset Value per share down 4%



Centum is selling good assets to cover for losses from their risky investments.

People shouldn't be left dancing when the music stops.

That's not why they sold Almasi but they got a good price. The total gain was 18.6bn. The realized less unrealized gain = 2.6bn
It's a good move to provide for Amu given it is almost dead.


By that logic...BRK should be selling Coca Cola they bought at $2.45 and sold to help out Dexter or Tesco. That would be throwing good money after bad. Almasi has done well for Centum but they really aren’t the contrarian investors they want everyone to believe. The economy is on the down. It’s now that we we will see who has been swimming naked as the waves recede

Let's break it down.

Dexter - If I recall, was bought for shares not using debt so there is no need to sell an asset to repay any loan/s due for Dexter. I think BRK has taken provisions/impairments on Dexter. Why do you think BRK needs to help Dexter?
Tesco - The shares were sold and loss was booked. Why do you think BRK needs to help Tesco when it is not a subsidiary?

Coke - There is a huge capital gains liability upon the sale of Coke shares. The reinvestment has to provide similar ROI to holding Coke. The sale of such a huge stake could depress prices unless BRK can find a large enough buyer at the right price.


U digress. We are talking about Centum comparing their selling of almasi to rejuvenate Amu (profit making entity to help out a crappy investment)
I kif up.


Centum says "don't look at the cashflows,look at NAV".

Now the NAV is eroded by 4%.
Real estate is a struggling, Sidian is struggling, Amu is written off (oh provided for), King Beverages sold at a loss. Old faithful investments like Almasi, KWAL, GM sold off.


@VVS you better read the signs that tough economic times are catching up with Centum and adjust accordingly.

Laughing out loudly Laughing out loudly Laughing out loudly No stress. I am comfy in Centum at this discount. I am glad Centum provided for Amu. It should have done the same for Akiira.
Not all shots at a goal go in. Not all plays end up near the goal line.
Real Estate - This is suffering but there is a very low Debt:Equity for Centum and most is at (suffering) Two Rivers.
Sidian - Turnaround has started. Let's see what 4Q (Oct-Dec) brings.
Amu - Better late than never. This was needed. If anything can be salvaged, it will go straight to the bottomline.
King - Happens. I lost money on ARM but made it on KK. Even the legendary Buffett has his bad days.
GM/Isuzu - When did they sell this off? How much did they get?


Not my ideal share but market is very bullish on the stock. I have take a short term trade position at KShs 30.50. Targeting to exit at KShs 37.
Kigeugeu but all are welcome. Laughing out loudly

You said "GM sold off" - When did this happen? How much did Centum get from the sale. Please share so I can update my model. Thanks.


Revalued their stake following buyout of GM by Isuzu, not sold off.

On Kigeugeu accusations, i plead guilty. I have not married to any stock, just in it for the money.
Life is short. Live passionately.
kmucheke
#42 Posted : Friday, September 25, 2020 8:11:23 PM
Rank: Member


Joined: 3/16/2019
Posts: 174
GE abandons Lamu coal power plant deal in policy shift
Quote:
American conglomerate General Electric (GE) will walk away from an agreement to build Lamu’s 1,050-megawatt coal-fired power plant as it shifts to renewable energy.

The move marks the latest setback for the proposed project by Amu Power, a joint venture in which Centum Investment Company is the majority shareholder with a 51 percent stake.

The company (Amu Power) was created as a special purpose vehicle by Centum and Gulf Energy Limited to assemble a consortium of lenders and technical partners like GE to deliver the project that has since stalled.

Court cases and difficulty in raising funds from lenders have held back the project, with the looming exit of GE further raising uncertainty over its viability. Centum says it has already made a provision of Sh2.1 billion, representing the amount it has invested in the project, to take into account the emerging challenges.



VituVingiSana
#43 Posted : Friday, September 25, 2020 9:20:53 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,208
Location: Nairobi
kmucheke wrote:
GE abandons Lamu coal power plant deal in policy shift
Quote:
American conglomerate General Electric (GE) will walk away from an agreement to build Lamu’s 1,050-megawatt coal-fired power plant as it shifts to renewable energy.

The move marks the latest setback for the proposed project by Amu Power, a joint venture in which Centum Investment Company is the majority shareholder with a 51 percent stake.

The company (Amu Power) was created as a special purpose vehicle by Centum and Gulf Energy Limited to assemble a consortium of lenders and technical partners like GE to deliver the project that has since stalled.

Court cases and difficulty in raising funds from lenders have held back the project, with the looming exit of GE further raising uncertainty over its viability. Centum says it has already made a provision of Sh2.1 billion, representing the amount it has invested in the project, to take into account the emerging challenges.
This is sort of old news in that Centum wrote it off (100%) so there was no light at the end of the tunnel! If they still have control of the site, then we may see something else come up in its place. I would like to see a LNG powered plant only when demand for electricity picks up!

Centum dodged a bullet. Imagine getting this plant ready and then KPLC says it cannot pay for the electricity!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
obiero
#44 Posted : Saturday, September 26, 2020 6:28:56 AM
Rank: Elder


Joined: 6/23/2009
Posts: 12,828
Location: nairobi
VituVingiSana wrote:
kmucheke wrote:
GE abandons Lamu coal power plant deal in policy shift
Quote:
American conglomerate General Electric (GE) will walk away from an agreement to build Lamu’s 1,050-megawatt coal-fired power plant as it shifts to renewable energy.

The move marks the latest setback for the proposed project by Amu Power, a joint venture in which Centum Investment Company is the majority shareholder with a 51 percent stake.

The company (Amu Power) was created as a special purpose vehicle by Centum and Gulf Energy Limited to assemble a consortium of lenders and technical partners like GE to deliver the project that has since stalled.

Court cases and difficulty in raising funds from lenders have held back the project, with the looming exit of GE further raising uncertainty over its viability. Centum says it has already made a provision of Sh2.1 billion, representing the amount it has invested in the project, to take into account the emerging challenges.
This is sort of old news in that Centum wrote it off (100%) so there was no light at the end of the tunnel! If they still have control of the site, then we may see something else come up in its place. I would like to see a LNG powered plant only when demand for electricity picks up!

Centum dodged a bullet. Imagine getting this plant ready and then KPLC says it cannot pay for the electricity!

They still got hit by the Amu project.. But as you said heri nusu shari
COOP 5,500 ABP12.6; HF 30,000 ABP 5.90; KCB 7,500 ABP 36; KQ 414,100 ABP 7.92
Ebenyo
#45 Posted : Saturday, September 26, 2020 7:06:20 AM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,872
Location: Kitale
kmucheke wrote:
GE abandons Lamu coal power plant deal in policy shift
Quote:
American conglomerate General Electric (GE) will walk away from an agreement to build Lamu’s 1,050-megawatt coal-fired power plant as it shifts to renewable energy.

The move marks the latest setback for the proposed project by Amu Power, a joint venture in which Centum Investment Company is the majority shareholder with a 51 percent stake.

The company (Amu Power) was created as a special purpose vehicle by Centum and Gulf Energy Limited to assemble a consortium of lenders and technical partners like GE to deliver the project that has since stalled.

Court cases and difficulty in raising funds from lenders have held back the project, with the looming exit of GE further raising uncertainty over its viability. Centum says it has already made a provision of Sh2.1 billion, representing the amount it has invested in the project, to take into account the emerging challenges.






Lenders refused to fund this project because they might have assessed it as unviable
Towards the goal of financial freedom
VituVingiSana
#46 Posted : Saturday, September 26, 2020 9:22:06 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,208
Location: Nairobi
obiero wrote:
VituVingiSana wrote:
kmucheke wrote:
GE abandons Lamu coal power plant deal in policy shift
Quote:
American conglomerate General Electric (GE) will walk away from an agreement to build Lamu’s 1,050-megawatt coal-fired power plant as it shifts to renewable energy.

The move marks the latest setback for the proposed project by Amu Power, a joint venture in which Centum Investment Company is the majority shareholder with a 51 percent stake.

The company (Amu Power) was created as a special purpose vehicle by Centum and Gulf Energy Limited to assemble a consortium of lenders and technical partners like GE to deliver the project that has since stalled.

Court cases and difficulty in raising funds from lenders have held back the project, with the looming exit of GE further raising uncertainty over its viability. Centum says it has already made a provision of Sh2.1 billion, representing the amount it has invested in the project, to take into account the emerging challenges.
This is sort of old news in that Centum wrote it off (100%) so there was no light at the end of the tunnel! If they still have control of the site, then we may see something else come up in its place. I would like to see a LNG powered plant only when demand for electricity picks up!

Centum dodged a bullet. Imagine getting this plant ready and then KPLC says it cannot pay for the electricity!

They still got hit by the Amu project.. But as you said heri nusu shari
The Lamu Coal Power Plant = the Amu project not a different project. Loss of 2bn but saved a lot more seeing what KPLC is doing to Turkana Wind.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
obiero
#47 Posted : Saturday, September 26, 2020 9:28:50 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,828
Location: nairobi
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
kmucheke wrote:
GE abandons Lamu coal power plant deal in policy shift
Quote:
American conglomerate General Electric (GE) will walk away from an agreement to build Lamu’s 1,050-megawatt coal-fired power plant as it shifts to renewable energy.

The move marks the latest setback for the proposed project by Amu Power, a joint venture in which Centum Investment Company is the majority shareholder with a 51 percent stake.

The company (Amu Power) was created as a special purpose vehicle by Centum and Gulf Energy Limited to assemble a consortium of lenders and technical partners like GE to deliver the project that has since stalled.

Court cases and difficulty in raising funds from lenders have held back the project, with the looming exit of GE further raising uncertainty over its viability. Centum says it has already made a provision of Sh2.1 billion, representing the amount it has invested in the project, to take into account the emerging challenges.
This is sort of old news in that Centum wrote it off (100%) so there was no light at the end of the tunnel! If they still have control of the site, then we may see something else come up in its place. I would like to see a LNG powered plant only when demand for electricity picks up!

Centum dodged a bullet. Imagine getting this plant ready and then KPLC says it cannot pay for the electricity!

They still got hit by the Amu project.. But as you said heri nusu shari
The Lamu Coal Power Plant = the Amu project not a different project. Loss of 2bn but saved a lot more seeing what KPLC is doing to Turkana Wind.

This country needs Raila
COOP 5,500 ABP12.6; HF 30,000 ABP 5.90; KCB 7,500 ABP 36; KQ 414,100 ABP 7.92
mulla
#48 Posted : Sunday, September 27, 2020 8:01:50 AM
Rank: Member


Joined: 6/15/2013
Posts: 298
obiero wrote:
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
kmucheke wrote:
GE abandons Lamu coal power plant deal in policy shift
Quote:
American conglomerate General Electric (GE) will walk away from an agreement to build Lamu’s 1,050-megawatt coal-fired power plant as it shifts to renewable energy.

The move marks the latest setback for the proposed project by Amu Power, a joint venture in which Centum Investment Company is the majority shareholder with a 51 percent stake.

The company (Amu Power) was created as a special purpose vehicle by Centum and Gulf Energy Limited to assemble a consortium of lenders and technical partners like GE to deliver the project that has since stalled.

Court cases and difficulty in raising funds from lenders have held back the project, with the looming exit of GE further raising uncertainty over its viability. Centum says it has already made a provision of Sh2.1 billion, representing the amount it has invested in the project, to take into account the emerging challenges.
This is sort of old news in that Centum wrote it off (100%) so there was no light at the end of the tunnel! If they still have control of the site, then we may see something else come up in its place. I would like to see a LNG powered plant only when demand for electricity picks up!

Centum dodged a bullet. Imagine getting this plant ready and then KPLC says it cannot pay for the electricity!

They still got hit by the Amu project.. But as you said heri nusu shari
The Lamu Coal Power Plant = the Amu project not a different project. Loss of 2bn but saved a lot more seeing what KPLC is doing to Turkana Wind.

This country needs Raila

They shouldn't even have considered it in the first place considering the worlds shift to reduce carbon emissions and focus on green energy. Failure to take this into account has come back to bite them with court cases and GE withdrwal.
Ericsson
#49 Posted : Sunday, September 27, 2020 8:15:18 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,866
Location: NAIROBI
mulla wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
kmucheke wrote:
GE abandons Lamu coal power plant deal in policy shift
Quote:
American conglomerate General Electric (GE) will walk away from an agreement to build Lamu’s 1,050-megawatt coal-fired power plant as it shifts to renewable energy.

The move marks the latest setback for the proposed project by Amu Power, a joint venture in which Centum Investment Company is the majority shareholder with a 51 percent stake.

The company (Amu Power) was created as a special purpose vehicle by Centum and Gulf Energy Limited to assemble a consortium of lenders and technical partners like GE to deliver the project that has since stalled.

Court cases and difficulty in raising funds from lenders have held back the project, with the looming exit of GE further raising uncertainty over its viability. Centum says it has already made a provision of Sh2.1 billion, representing the amount it has invested in the project, to take into account the emerging challenges.
This is sort of old news in that Centum wrote it off (100%) so there was no light at the end of the tunnel! If they still have control of the site, then we may see something else come up in its place. I would like to see a LNG powered plant only when demand for electricity picks up!

Centum dodged a bullet. Imagine getting this plant ready and then KPLC says it cannot pay for the electricity!

They still got hit by the Amu project.. But as you said heri nusu shari
The Lamu Coal Power Plant = the Amu project not a different project. Loss of 2bn but saved a lot more seeing what KPLC is doing to Turkana Wind.

This country needs Raila

They shouldn't even have considered it in the first place considering the worlds shift to reduce carbon emissions and focus on green energy. Failure to take this into account has come back to bite them with court cases and GE withdrwal.


Pole kwa Centum.
Ksh.2bn is alot of money 💵.
What happened to Akiira geothermal power plant.
They are yet to break ground
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#50 Posted : Sunday, September 27, 2020 8:17:19 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,866
Location: NAIROBI
obiero wrote:
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
kmucheke wrote:
GE abandons Lamu coal power plant deal in policy shift
Quote:
American conglomerate General Electric (GE) will walk away from an agreement to build Lamu’s 1,050-megawatt coal-fired power plant as it shifts to renewable energy.

The move marks the latest setback for the proposed project by Amu Power, a joint venture in which Centum Investment Company is the majority shareholder with a 51 percent stake.

The company (Amu Power) was created as a special purpose vehicle by Centum and Gulf Energy Limited to assemble a consortium of lenders and technical partners like GE to deliver the project that has since stalled.

Court cases and difficulty in raising funds from lenders have held back the project, with the looming exit of GE further raising uncertainty over its viability. Centum says it has already made a provision of Sh2.1 billion, representing the amount it has invested in the project, to take into account the emerging challenges.
This is sort of old news in that Centum wrote it off (100%) so there was no light at the end of the tunnel! If they still have control of the site, then we may see something else come up in its place. I would like to see a LNG powered plant only when demand for electricity picks up!

Centum dodged a bullet. Imagine getting this plant ready and then KPLC says it cannot pay for the electricity!

They still got hit by the Amu project.. But as you said heri nusu shari
The Lamu Coal Power Plant = the Amu project not a different project. Loss of 2bn but saved a lot more seeing what KPLC is doing to Turkana Wind.

This country needs Raila


His time is up.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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