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25 Pages«<22232425>
KenGen HY 2019
Ericsson
#461 Posted : Saturday, February 29, 2020 10:26:16 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,393
Location: NAIROBI
sparkly wrote:
murchr wrote:
We need serious activist investors at the NSE. a President shouldn't hold private investors at ransom due to his incapability to perform his duty. How long will this stalemate continue?

Just think about how this looks to foreign investors? Will they have confidence to invest in local/partially owned govt stocks? Uhuru is a total failure


Omtata sued already.

Kengen Board should just stand up to the incompetent Uhuru and announce a dividend.

Someone will go to court and declare it unconstitutional.
On the other hand kengen is using that money to be paid as dividend for other activities
kawi254
#462 Posted : Saturday, February 29, 2020 3:00:12 PM
Rank: Member


Joined: 2/20/2015
Posts: 374
Location: Nairobi
Ericsson wrote:
sparkly wrote:
murchr wrote:
We need serious activist investors at the NSE. a President shouldn't hold private investors at ransom due to his incapability to perform his duty. How long will this stalemate continue?

Just think about how this looks to foreign investors? Will they have confidence to invest in local/partially owned govt stocks? Uhuru is a total failure


Omtata sued already.

Kengen Board should just stand up to the incompetent Uhuru and announce a dividend.

Someone will go to court and declare it unconstitutional.
On the other hand kengen is using that money to be paid as dividend for other activities


' other activities' like handing over to the GoK cash in bank together with other parastatals.
sparkly
#463 Posted : Saturday, February 29, 2020 3:39:32 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,716
Location: Enk are Nyirobi
Ericsson wrote:
sparkly wrote:
murchr wrote:
We need serious activist investors at the NSE. a President shouldn't hold private investors at ransom due to his incapability to perform his duty. How long will this stalemate continue?

Just think about how this looks to foreign investors? Will they have confidence to invest in local/partially owned govt stocks? Uhuru is a total failure


Omtata sued already.

Kengen Board should just stand up to the incompetent Uhuru and announce a dividend.

Someone will go to court and
declare it unconstitutional.

On the other hand kengen is using that money to be paid as dividend for other activities


Declaration of dividend is not a constitutional issue.
Life is short. Live passionately.
VituVingiSana
#464 Posted : Saturday, February 29, 2020 10:12:05 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,976
Location: Nairobi
sparkly wrote:
Ericsson wrote:
sparkly wrote:
murchr wrote:
We need serious activist investors at the NSE. a President shouldn't hold private investors at ransom due to his incapability to perform his duty. How long will this stalemate continue?

Just think about how this looks to foreign investors? Will they have confidence to invest in local/partially owned govt stocks? Uhuru is a total failure


Omtata sued already.

Kengen Board should just stand up to the incompetent Uhuru and announce a dividend.

Someone will go to court and
declare it unconstitutional.

On the other hand kengen is using that money to be paid as dividend for other activities

Declaration of dividend is not a constitutional issue.
Laughing out loudly Laughing out loudly Laughing out loudly KenGen's Board (with the backing of GoK as 70% shareholder) can decide not to pay a dividend for FY19 and that's the end of the story whether or not there is Auditor General.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
murchr
#465 Posted : Saturday, February 29, 2020 10:18:02 PM
Rank: Elder


Joined: 2/26/2012
Posts: 15,516
VituVingiSana wrote:
sparkly wrote:
Ericsson wrote:
sparkly wrote:
murchr wrote:
We need serious activist investors at the NSE. a President shouldn't hold private investors at ransom due to his incapability to perform his duty. How long will this stalemate continue?

Just think about how this looks to foreign investors? Will they have confidence to invest in local/partially owned govt stocks? Uhuru is a total failure


Omtata sued already.

Kengen Board should just stand up to the incompetent Uhuru and announce a dividend.

Someone will go to court and
declare it unconstitutional.

On the other hand kengen is using that money to be paid as dividend for other activities


Declaration of dividend is not a constitutional issue.


Laughing out loudly Laughing out loudly Laughing out loudly KenGen's Board (with the backing of GoK as 70% shareholder) can decide not to pay a dividend for FY19 and that's the end of the story whether or not there is Auditor General.


And that would still be ok, but the incompetence of a President should not be given as a reason why dividend payments were not made if i read their statement correctly,the lack of the attorney general was the reason given in this case.

"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
VituVingiSana
#466 Posted : Saturday, February 29, 2020 10:35:12 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,976
Location: Nairobi
murchr wrote:
VituVingiSana wrote:
sparkly wrote:
Ericsson wrote:
sparkly wrote:
murchr wrote:
We need serious activist investors at the NSE. a President shouldn't hold private investors at ransom due to his incapability to perform his duty. How long will this stalemate continue?

Just think about how this looks to foreign investors? Will they have confidence to invest in local/partially owned govt stocks? Uhuru is a total failure


Omtata sued already.

Kengen Board should just stand up to the incompetent Uhuru and announce a dividend.

Someone will go to court and
declare it unconstitutional.

On the other hand kengen is using that money to be paid as dividend for other activities


Declaration of dividend is not a constitutional issue.


Laughing out loudly Laughing out loudly Laughing out loudly KenGen's Board (with the backing of GoK as 70% shareholder) can decide not to pay a dividend for FY19 and that's the end of the story whether or not there is Auditor General.


And that would still be ok, but the incompetence of a President should not be given as a reason why dividend payments were not made if i read their statement correctly,the lack of the attorney general was the reason given in this case.
If an AG isn't appointed soon then s/he will have a lot of work to do especially auditing government entities for FY19 and FY20. The advantage for KenGen is that the FY19 auditing has been done by EY/PWC/DT and just needs review and a sign off not a complete audit.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Kusadikika
#467 Posted : Sunday, March 01, 2020 8:54:06 PM
Rank: Elder


Joined: 7/22/2008
Posts: 2,662
Has anyone considered the fact that the lack of an Auditor General may be a deliberate to enable some accounting gymnastics by government.

At some point Government asked all state organizations to surrender all their excess cash to Treasury.

KRA is falling short of revenue collections.

The Chinese loans need to repaid.

Ukur Yatani is saying hakuna pesa.

Opus Dei has refused to print money.

The only source of free cash is government institutions and this is easier when there is no Auditor General in place. The only people who can complain are some shareholders of KPLC, Kengen, Kenya Re etc and they are so few, they cannot call for any maandamano.

My Crystal ball tells me this China loan will cause problems very soon and GOK will run back to World Bank and IMF. These will insist on some structural adjustments that will include sale of government assets. In 10 years KPLC, Kengen, KPA, KAA will be 100% private.
sparkly
#468 Posted : Monday, March 02, 2020 8:55:24 AM
Rank: Elder


Joined: 9/23/2009
Posts: 7,716
Location: Enk are Nyirobi
Kusadikika wrote:
Has anyone considered the fact that the lack of an Auditor General may be a deliberate to enable some accounting gymnastics by government.

At some point Government asked all state organizations to surrender all their excess cash to Treasury.

KRA is falling short of revenue collections.

The Chinese loans need to repaid.

Ukur Yatani is saying hakuna pesa.

Opus Dei has refused to print money.

The only source of free cash is government institutions and this is easier when there is no Auditor General in place. The only people who can complain are some shareholders of KPLC, Kengen, Kenya Re etc and they are so few, they cannot call for any maandamano.

My Crystal ball tells me this China loan will cause problems very soon and GOK will run back to World Bank and IMF. These will insist on some structural adjustments that will include sale of government assets. In 10 years KPLC, Kengen, KPA, KAA will be 100% private.


UMK government is just incompetent:
1. He took 1.5yrs to appoint Tax Tribunal members. He thought he would collect taxes through DCI;
2. He kept Njiriani in office illegaly for 2 years and fired the KRA Board when it tried to replace him;
3. He is yet to appoint Judges recommended by JSC.

Having said that, the big issue is that there are 2 centres of power one at Gatundu and the other at Sugoi. Both are engaged in serious competition for power esp on key appointments.

The Sugoi group is proactive, ruthless and seems to always come out on top. The Gatundu group catches up with happenings in the 9pm news. The Gatundu group is therefore left fighting fires with the help of Bondo mercenaries.

Life is short. Live passionately.
muandiwambeu
#469 Posted : Monday, March 02, 2020 3:58:24 PM
Rank: Veteran


Joined: 8/28/2015
Posts: 1,200
sparkly wrote:
Kusadikika wrote:
Has anyone considered the fact that the lack of an Auditor General may be a deliberate to enable some accounting gymnastics by government.

At some point Government asked all state organizations to surrender all their excess cash to Treasury.

KRA is falling short of revenue collections.

The Chinese loans need to repaid.

Ukur Yatani is saying hakuna pesa.

Opus Dei has refused to print money.

The only source of free cash is government institutions and this is easier when there is no Auditor General in place. The only people who can complain are some shareholders of KPLC, Kengen, Kenya Re etc and they are so few, they cannot call for any maandamano.

My Crystal ball tells me this China loan will cause problems very soon and GOK will run back to World Bank and IMF. These will insist on some structural adjustments that will include sale of government assets. In 10 years KPLC, Kengen, KPA, KAA will be 100% private.


UMK government is just incompetent:
1. He took 1.5yrs to appoint Tax Tribunal members. He thought he would collect taxes through DCI;
2. He kept Njiriani in office illegaly for 2 years and fired the KRA Board when it tried to replace him;
3. He is yet to appoint Judges recommended by JSC.

Having said that, the big issue is that there are 2 centres of power one at Gatundu and the other at Sugoi. Both are engaged in serious competition for power esp on key appointments.

The Sugoi group is proactive, ruthless and seems to always come out on top. The Gatundu group catches up with happenings in the 9pm news. The Gatundu group is therefore left fighting fires with the help of Bondo mercenaries.


Quotable quotes hah!
,Behold, a sower went forth to sow;....
Ericsson
#470 Posted : Monday, April 06, 2020 3:57:42 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,393
Location: NAIROBI
Solar equipment to become pricier with new/increased taxes.

Will this be a positive for kengen
kawi254
#471 Posted : Monday, April 06, 2020 5:57:58 PM
Rank: Member


Joined: 2/20/2015
Posts: 374
Location: Nairobi
Ericsson wrote:
Solar equipment to become pricier with new/increased taxes.

Will this be a positive for kengen


Why would KenGen though be thinking of investing in a 5MW Solar in Muranga?.


Ericsson
#472 Posted : Tuesday, April 07, 2020 7:30:15 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,393
Location: NAIROBI
kawi254 wrote:
Ericsson wrote:
Solar equipment to become pricier with new/increased taxes.

Will this be a positive for kengen


Why would KenGen though be thinking of investing in a 5MW Solar in Muranga?.



Too much money making them go mad.
sparkly
#473 Posted : Wednesday, April 08, 2020 8:46:06 AM
Rank: Elder


Joined: 9/23/2009
Posts: 7,716
Location: Enk are Nyirobi
Ericsson wrote:
kawi254 wrote:
Ericsson wrote:
Solar equipment to become pricier with new/increased taxes.

Will this be a positive for kengen


Why would KenGen though be thinking of investing in a 5MW Solar in Muranga?.



Too much money making them go mad.


They are wasting retained profits. They should pay out at least 70% of earnings as dividends as opposed to the current 30%.
Life is short. Live passionately.
kenyan2019
#474 Posted : Friday, April 17, 2020 11:38:21 AM
Rank: New-farer


Joined: 12/30/2018
Posts: 49
Geothermal: Kenya basks in ranking seventh heaven

Kenya has raced past Italy to emerge the seventh-largest geothermal power producer in the world, new global data shows.

Kenya’s geothermal capacity stands at 823 megawatts (MW), having grown by 165MW since last year and moving the East African country above Italy’s 800MW.
This is according to Renewable Capacity Statistics 2020 prepared by Abu Dhabi-based International Renewable Energy Agency (Irena).

https://www.standardmedi...-ranking-seventh-heaven #Geothermal
VituVingiSana
#475 Posted : Friday, April 17, 2020 12:47:12 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,976
Location: Nairobi
sparkly wrote:
Ericsson wrote:
kawi254 wrote:
Ericsson wrote:
Solar equipment to become pricier with new/increased taxes.

Will this be a positive for kengen


Why would KenGen though be thinking of investing in a 5MW Solar in Muranga?.



Too much money making them go mad.


They are wasting retained profits. They should pay out at least 70% of earnings as dividends as opposed to the current 30%.

Someone was arguing that firms should retain funds, not pay dividends, to help them weather the Covid-19 crisis. d'oh!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#476 Posted : Sunday, April 19, 2020 11:12:26 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,393
Location: NAIROBI
process of selecting the next Auditor general has restarted.
By the time it's completed kengen will be announcing FY 2019/2020 results.
VituVingiSana
#477 Posted : Monday, April 20, 2020 7:23:13 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,976
Location: Nairobi
Ericsson wrote:
process of selecting the next Auditor general has restarted.
By the time it's completed kengen will be announcing FY 2019/2020 results.
Perhaps there will be 2 AGMs and 2 dividends after in Sep 2020.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Balaa
#478 Posted : Monday, April 20, 2020 6:55:02 PM
Rank: Member


Joined: 7/6/2018
Posts: 125
Location: Kinshasa
VituVingiSana wrote:
Ericsson wrote:
process of selecting the next Auditor general has restarted.
By the time it's completed kengen will be announcing FY 2019/2020 results.
Perhaps there will be 2 AGMs and 2 dividends after in Sep 2020.


Going by the subtle signals so far, what's the probability that no dividend will be declared by state-owned Kengen? I mean, the absence of AG did not stop a similar majority state-owned Kenya Re from declaring a dividend regardless, yet Kengen board couldn't. Somebody from Treasury must be sitting on both companies boards. I'm just playing the devil's advocate.
Ericsson
#479 Posted : Tuesday, April 21, 2020 8:22:03 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,393
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
process of selecting the next Auditor general has restarted.
By the time it's completed kengen will be announcing FY 2019/2020 results.
Perhaps there will be 2 AGMs and 2 dividends after in Sep 2020.


Yes.
Ericsson
#480 Posted : Tuesday, April 21, 2020 8:24:22 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,393
Location: NAIROBI
Balaa wrote:
VituVingiSana wrote:
Ericsson wrote:
process of selecting the next Auditor general has restarted.
By the time it's completed kengen will be announcing FY 2019/2020 results.
Perhaps there will be 2 AGMs and 2 dividends after in Sep 2020.


Going by the subtle signals so far, what's the probability that no dividend will be declared by state-owned Kengen? I mean, the absence of AG did not stop a similar majority state-owned Kenya Re from declaring a dividend regardless, yet Kengen board couldn't. Somebody from Treasury must be sitting on both companies boards. I'm just playing the devil's advocate.


Let's wait and see post COVID-19.
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