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Centum HY 2018/2019
Ericsson
#21 Posted : Monday, November 26, 2018 9:50:07 AM
Rank: Elder


Joined: 12/4/2009
Posts: 6,365
Location: NAIROBI
rwitre wrote:
sparkly wrote:
obiero wrote:
sparkly wrote:
Half Year 2018/19 being presented today morning.

They release the results on newspaper late last week and then have a presentation today?
Very interesting



Other companies should follow suit. Give the stakeholders time to scrutinize so that they can ask informed questions


...or they are preparing for a price pump today when the +10% rule won't be in force.


Share price trading at a reflection of the performance,so there will be no effect
Ericsson
#22 Posted : Monday, November 26, 2018 10:07:48 AM
Rank: Elder


Joined: 12/4/2009
Posts: 6,365
Location: NAIROBI
Profitability driven by ksh.1.244bn realised gains from disposal of Gen Africa.
GenAfrica achieving an IRR of 29%.

James Mworia;
We need to renew the capital structure of the business. We want the shareholders to have great returns.
We are targeting to pay debt at individual businesses and not at the group level.
On the outlook, to optimize the gross return, we are planning on robust exit pipeline of mature assets across the portfolio.

To reduce debt at Centum level, we will utilize part of exit proceeds to completely pay down long term debt as it matures

Debt distress at play.
VituVingiSana
#23 Posted : Monday, November 26, 2018 11:21:45 AM
Rank: Chief


Joined: 1/3/2007
Posts: 15,428
Location: Nairobi
sparkly wrote:
obiero wrote:
sparkly wrote:
Half Year 2018/19 being presented today morning.

They release the results on newspaper late last week and then have a presentation today?
Very interesting


Other companies should follow suit. Give the stakeholders time to scrutinize so that they can ask informed questions

I like that! It's good to let folks digest the info. Conf Call at 3.30pm.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
rwitre
#24 Posted : Wednesday, November 28, 2018 3:15:52 PM
Rank: Member


Joined: 3/8/2018
Posts: 252
Location: Nairobi
Been looking to diversify and include a blue chip with high potential for capital gains...(because dividends don't multiply wealth fast enough, and high-beta stocks will ruin quality of sleep).

Settled on Centum with its discount on NAV, plus the headstrong management that has a firm handle on things.

My one concern is the circa Sh50 billion in a fresh private equity (PE) being sought, how prudently it will be used, and its impact on the balance sheet. But seeing the track record of the board in selecting firms to sink money into (plus the insistence on focusing on cash generating companies, and not greenfield ventures or turn-around types), am optimistic.
VituVingiSana
#25 Posted : Wednesday, December 05, 2018 10:04:04 AM
Rank: Chief


Joined: 1/3/2007
Posts: 15,428
Location: Nairobi
.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ebenyo
#26 Posted : Wednesday, December 05, 2018 12:15:30 PM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,531
Location: Kitale
rwitre wrote:
Been looking to diversify and include a blue chip with high potential for capital gains...(because dividends don't multiply wealth fast enough, and high-beta stocks will ruin quality of sleep).

Settled on Centum with its discount on NAV, plus the headstrong management that has a firm handle on things.

My one concern is the circa Sh50 billion in a fresh private equity (PE) being sought, how prudently it will be used, and its impact on the balance sheet. But seeing the track record of the board in selecting firms to sink money into (plus the insistence on focusing on cash generating companies, and not greenfield ventures or turn-around types), am optimistic.



im also in the process of changing my attitude towards centum.I went into their historical background and i liked the initial purpose of forming it.
Towards the goal of financial freedom
rwitre
#27 Posted : Thursday, January 17, 2019 10:54:39 AM
Rank: Member


Joined: 3/8/2018
Posts: 252
Location: Nairobi
Buy value, the price will sort itself.

Applause Applause
Ericsson
#28 Posted : Thursday, January 17, 2019 11:58:41 AM
Rank: Elder


Joined: 12/4/2009
Posts: 6,365
Location: NAIROBI
rwitre wrote:
Buy value, the price will sort itself.

Applause Applause


Signifies an oncoming mini bull run
Ericsson
#29 Posted : Friday, March 08, 2019 5:37:12 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,365
Location: NAIROBI
https://www.businessdail...4946-jeqi01z/index.html

Sidian Bank has signed a Sh1.2 billion capital injection with Investment Fund for Developing Countries (IFU), a Danish private equity, in a deal that will see it progressively cede a 20 percent stake to the lender.
Ericsson
#30 Posted : Thursday, March 28, 2019 4:54:13 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,365
Location: NAIROBI
Sidian bank has posted a KSh 392 million loss in 2018, an improvement from the KSh422 million loss posted in 2017. The loss resulted from higher operating expenses which shot up by 13 per cent to reach KSh3.7 billion. Net operating income grew by 24 per cent to land at KSh2.1 billion from KSh1.7 billion booked the previous year.

The bank is a subsidiary of Centum Holdings and is primarily focused on lending to small and medium-sized enterprises.

Income from loans and advances to customers fell by 3 per cent attributed to the cap on lending rates. The lender’s investment in government paper increased by at least 75 percent.

Customer deposits, on the other hand, grew by 33% from KSh 12.8 billion to KSh17 billion. Similarly, its loans and advances jumped up 15 per cent to KSh 13 billion.
Ericsson
#31 Posted : Tuesday, April 23, 2019 4:04:22 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,365
Location: NAIROBI
Centum has put Sidian on the market with intention of selling it to a willing buyer;


"Last month, Sidian Bank chief executive Chege Thumbi said the lower-tier lender was open for merger talks, joining the list of lenders mulling similar deals."
Mr Thumbi said the bank has been having informal discussions with other lenders even though he declined to reveal the names.

“As and when discussions progress to a level where we are confident to announce anything, we will come back to you. A lot of conversations do happen once in a while and until it matures, we can’t give details,” he said.

“We are very open for merger with other banks and also opportunities of acquisition of other banks --- I am sure everyone in the market is looking at how to get bigger, better more efficient and create stronger banks.”

https://www.businessdail...084124-pb6axg/index.html
VituVingiSana
#32 Posted : Tuesday, April 23, 2019 5:49:26 PM
Rank: Chief


Joined: 1/3/2007
Posts: 15,428
Location: Nairobi
Ericsson wrote:
Centum has put Sidian on the market with intention of selling it to a willing buyer;


"Last month, Sidian Bank chief executive Chege Thumbi said the lower-tier lender was open for merger talks, joining the list of lenders mulling similar deals."
Mr Thumbi said the bank has been having informal discussions with other lenders even though he declined to reveal the names.

“As and when discussions progress to a level where we are confident to announce anything, we will come back to you. A lot of conversations do happen once in a while and until it matures, we can’t give details,” he said.

“We are very open for merger with other banks and also opportunities of acquisition of other banks --- I am sure everyone in the market is looking at how to get bigger, better more efficient and create stronger banks.”

https://www.businessdail...84124-pb6axg/index.html

Given the current mood and unlikeliness of the Interest Cap being lifted, it makes sense to do so.
Acknowledge the hurt. Centum needs to reduce the valuation is has for Sidian from 1.4x BV to 1.0x (at most).
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#33 Posted : Tuesday, April 23, 2019 5:51:55 PM
Rank: Chief


Joined: 1/3/2007
Posts: 15,428
Location: Nairobi
I remain bullish on Centum based on the discount to BV even after I deduct:
Sidian's over-valuation (from 1.4x BV to 1.0x BV)
Akira
Amu
TRDL valuation reduction given the state of real estate
TRLC valuation reduction given the state of malls and offices
Other not-so-great businesses
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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