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KenGen HY 2019
Ericsson
#581 Posted : Friday, October 09, 2020 9:24:56 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,983
Location: NAIROBI
kawi254 wrote:
AGM is on Oct 22, 2020. When are they publishing the INTEGRATED ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019 ?



https://pbs.twimg.com/me...rmat=jpg&name=small
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#582 Posted : Friday, October 09, 2020 10:26:04 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,983
Location: NAIROBI
kawi254 wrote:
AGM is on Oct 22, 2020. When are they publishing the INTEGRATED ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019 ?


AGM moved to 3 November 2020.
By that time FY2019/2020 results will have been released
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
kawi254
#583 Posted : Friday, October 09, 2020 1:17:44 PM
Rank: Member


Joined: 2/20/2015
Posts: 390
Location: Nairobi
Ericsson wrote:
kawi254 wrote:
AGM is on Oct 22, 2020. When are they publishing the INTEGRATED ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019 ?


AGM moved to 3 November 2020.
By that time FY2019/2020 results will have been released


Can there be two AGMs in a year i.e AGM for FY 2018/2019 and that for FY2019/2020 ?

In COVID times a company like KenGen must be saving a lot on all that food & gifts they give to their stadium filling shareholders. Last time i went for their AGM at Kasarani quite a sizeable majority were just coming to pick the goodies and exiting immediately without bothering to participate in the AGM
Ericsson
#584 Posted : Friday, October 09, 2020 1:23:22 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,983
Location: NAIROBI
kawi254 wrote:
Ericsson wrote:
kawi254 wrote:
AGM is on Oct 22, 2020. When are they publishing the INTEGRATED ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019 ?


AGM moved to 3 November 2020.
By that time FY2019/2020 results will have been released


Can there be two AGMs in a year i.e AGM for FY 2018/2019 and that for FY2019/2020 ?

In COVID times a company like KenGen must be saving a lot on all that food & gifts they give to their stadium filling shareholders. Last time i went for their AGM at Kasarani quite a sizeable majority were just coming to pick the goodies and exiting immediately without bothering to participate in the AGM


FY 2019/2020 will be held early next year in January most likely.
Yes it is possible to hold 2 AGMs in a year and even give two dividends.
KENGEN and other majority owned government institutions were given exemptions to delay their AGMs due to lack of Auditor General.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#585 Posted : Saturday, October 10, 2020 10:37:02 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,983
Location: NAIROBI
Ericsson wrote:
kawi254 wrote:
AGM is on Oct 22, 2020. When are they publishing the INTEGRATED ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019 ?


AGM moved to 3 November 2020.
By that time FY2019/2020 results will have been released

Dividend book closure also moved to November 3
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
kawi254
#586 Posted : Saturday, October 10, 2020 11:09:25 AM
Rank: Member


Joined: 2/20/2015
Posts: 390
Location: Nairobi
Ericsson wrote:
Ericsson wrote:
kawi254 wrote:
AGM is on Oct 22, 2020. When are they publishing the INTEGRATED ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019 ?


AGM moved to 3 November 2020.
By that time FY2019/2020 results will have been released

Dividend book closure also moved to November 3


Asante.

I'd wish the South Afican Pension fund (P.I.C) to get a director/board position to reduce the heavy GoK influence. GoK with 70% shareholding gets to vote in any Omanga.
Ericsson
#587 Posted : Saturday, October 10, 2020 7:10:25 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,983
Location: NAIROBI
kawi254 wrote:
Ericsson wrote:
Ericsson wrote:
kawi254 wrote:
AGM is on Oct 22, 2020. When are they publishing the INTEGRATED ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019 ?


AGM moved to 3 November 2020.
By that time FY2019/2020 results will have been released

Dividend book closure also moved to November 3


Asante.

I'd wish the South Afican Pension fund (P.I.C) to get a director/board position to reduce the heavy GoK influence. GoK with 70% shareholding gets to vote in any Omanga.


True
Since they have 10% shareholding, they should get a seat
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#588 Posted : Monday, October 12, 2020 7:32:14 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,983
Location: NAIROBI
Green energy firms threaten KenGen’s market dominance

State-owned Kenya Electricity Generating Company’s

(KenGen) position as the dominant power producer in the country is likely to be clawed back in the near future by new private players who are making multibillion-shilling investments, the Energy and Petroleum Regulatory Authority has said.

In a new report, the regulator says the dominance of KenGen, which had a 1,796.4 megawatt (MW) annual capacity and supplies three quarters of Kenya’s electricity, is being chipped away by new private firms, who are mainly active in the field of renewable and green energy.

“This dominance is mainly attributed to the previous power structure that was vertically integrated but with increased unbundling and open access coupled with increased private sector participation, it is unlikely that this will remain the case in the near future,” said Epra in its inaugural annual report for 2019 that captures trends in the Kenyan energy sector.

Even so, Epra noted that the structure and share of power generation still remains hugely in favour of KenGen which continues to make huge investments.

KenGen plans to more than double its electricity generating capacity to 4,270 MW by 2025.

It had a 76 percent market share in 2018, while independent power producers (IPPs) accounted for 24 percent.

KenGen mainly generates hydro and geothermal power, while independent producers are mainly working in the thermal, wind and solar space.

Lake Turkana Wind Power, a 310 megawatt installation that was officially commissioned in July last year, is the biggest private power producer.

The Rural Electrification and Renewable Energy Corporation, owned 54.6MW solar power plant in Garissa was also commissioned last year. The plant is the largest solar power installation in East and Central Africa.

https://www.businessdail...market-dominance-2462936
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#589 Posted : Tuesday, October 13, 2020 7:48:42 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,983
Location: NAIROBI
The CEO's statement on the Annual Report

Covid-19 Pandemic

"We expect the Company’s future performance in the last Quarter of 2019/20 and the first two Quarters of 2020/21 to be impacted as the Pandemic is affecting demand and payments for electricity, progress of capacity expansion projects and business lines under our diversification agenda. We are closely and continuously monitoring developments in relation to the Pandemic and taking measures to conserve capital and manage costs while keeping a keen eye on liquidity.

Finance Act 2020

The Finance Act, 2020 was assented to and came into effect in June 30, 2020. The said Act has several implications on the Company, key among them being introduction of a minimum tax of 1% of turnover payable on a monthly basis, stringent requirements on treatment and recognition of input VAT, withdrawal of VAT exemption (which was previously applicable on some of the Company’s inputs for wind and solar projects) and withdrawal of the exemptions on Import Declaration Feed and Railway Development Levy (which were previously applicable to goods imported for geothermal projects). The uncertainties and evolving developments in the current business environment notwithstanding, I believe that we are well positioned to deliver sustainable value for our shareholders and all stakeholders over the long term."
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Extraterrestrial
#590 Posted : Tuesday, October 13, 2020 11:29:59 AM
Rank: Member


Joined: 11/17/2018
Posts: 153
Location: Mars
Ericsson wrote:
The CEO's statement on the Annual Report

Covid-19 Pandemic

"We expect the Company’s future performance in the last Quarter of 2019/20 and the first two Quarters of 2020/21 to be impacted as the Pandemic is affecting demand and payments for electricity, progress of capacity expansion projects and business lines under our diversification agenda. We are closely and continuously monitoring developments in relation to the Pandemic and taking measures to conserve capital and manage costs while keeping a keen eye on liquidity.

Finance Act 2020

The Finance Act, 2020 was assented to and came into effect in June 30, 2020. The said Act has several implications on the Company, key among them being introduction of a minimum tax of 1% of turnover payable on a monthly basis, stringent requirements on treatment and recognition of input VAT, withdrawal of VAT exemption (which was previously applicable on some of the Company’s inputs for wind and solar projects) and withdrawal of the exemptions on Import Declaration Feed and Railway Development Levy (which were previously applicable to goods imported for geothermal projects). The uncertainties and evolving developments in the current business environment notwithstanding, I believe that we are well positioned to deliver sustainable value for our shareholders and all stakeholders over the long term."


If they haven't delivered sustainable value for the shareholders for almost a decade and a half, then I don't know how they will onwards. Stock is down almost 60% from IPO price and dividends have been far from stable.
Ericsson
#591 Posted : Thursday, October 15, 2020 9:59:19 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,983
Location: NAIROBI
Extraterrestrial wrote:
Ericsson wrote:
The CEO's statement on the Annual Report

Covid-19 Pandemic

"We expect the Company’s future performance in the last Quarter of 2019/20 and the first two Quarters of 2020/21 to be impacted as the Pandemic is affecting demand and payments for electricity, progress of capacity expansion projects and business lines under our diversification agenda. We are closely and continuously monitoring developments in relation to the Pandemic and taking measures to conserve capital and manage costs while keeping a keen eye on liquidity.

Finance Act 2020

The Finance Act, 2020 was assented to and came into effect in June 30, 2020. The said Act has several implications on the Company, key among them being introduction of a minimum tax of 1% of turnover payable on a monthly basis, stringent requirements on treatment and recognition of input VAT, withdrawal of VAT exemption (which was previously applicable on some of the Company’s inputs for wind and solar projects) and withdrawal of the exemptions on Import Declaration Feed and Railway Development Levy (which were previously applicable to goods imported for geothermal projects). The uncertainties and evolving developments in the current business environment notwithstanding, I believe that we are well positioned to deliver sustainable value for our shareholders and all stakeholders over the long term."


If they haven't delivered sustainable value for the shareholders for almost a decade and a half, then I don't know how they will onwards. Stock is down almost 60% from IPO price and dividends have been far from stable.


Value has been delivered to PIBO bondholders and multilateral creditors such as JICA,EIB
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#592 Posted : Monday, October 19, 2020 7:47:20 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,262
Location: Nairobi
Tax exemptions for KenGen removed in new law changes
https://www.businessdail...-new-law-changes-2484364
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#593 Posted : Monday, October 19, 2020 8:18:57 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,983
Location: NAIROBI
[quote=VituVingiSana]Tax exemptions for KenGen removed in new law changes
https://www.businessdail...new-law-changes-2484364[/quote]

Let's see magnitude of the impact
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#594 Posted : Tuesday, October 20, 2020 2:40:52 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,262
Location: Nairobi
https://www.businessdail...r-late-payments-2485144 As at end of June 2019, Kenya Power was owing KenGen Sh18.86 billion, pointing to accumulated debts that will eat into the profit through high finance costs.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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