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KenyaRe FY19 - FY23 (Both Inclusive)
VituVingiSana
#481 Posted : Friday, June 19, 2020 10:03:29 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,108
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
sparkly wrote:
Ericsson wrote:
FY2019
profit before tax increased by 35% from ksh.3.1bn to ksh.4.18bn due to high gross premiums written,significant growth in the share of profit from investment in associate in Zep Re and gains on revaluation of investment property.
Asset base grew by 14% from ksh.44.36bn to 50.36bn
The board of directors recommend a dividend of ksh.0.1 per share

Link:https://www.nse.co.ke/listed-companies/company-announcements/issuer-announcements.html

10 cents, what a joke!
d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly
The stated EPS is 2.55 but the there is a 2bn FV Gain on Revaluation.
Any info?

The FV gain on revaluation was the Mbagathi way land.
Part of it was sold to NLC and KURA for construction of the upper hill to mbagathi way link road which has been completed and open to motorists
Asante.

So they owned land pale Mbagathi Way and sold a huge chunk for 2bn?
I am trying to get my head around it.

Or they sold a small portion and revalued the rest?

In this day and age, I am leery of revaluations unless they can really be sold for the revalued amounts.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Angelica _ann
#482 Posted : Friday, June 19, 2020 2:19:37 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,604
Spokesperson's Office
State House, Nairobi

Friday, 19th June 2020

Press Statement

*President Kenyatta nominates Ms Nancy Janet Kabui Gathungu for position of Auditor General*

His Excellency President Uhuru Kenyatta has nominated Ms Nancy Janet Kabui Gathungu for the position of Auditor General.

Ms Gathungu was the first among the top three (3) candidates presented to His Excellency the President for nomination by the Recruitment Panel for the Selection of the Auditor General as set out in law.

Consequently, His Excellency the President has forwarded the name of Ms Nancy Janet Kabui Gathungu to the National Assembly for vetting.

Kanze Dena Mararo
Spokesperson
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Swenani
#483 Posted : Friday, June 19, 2020 2:59:10 PM
Rank: User


Joined: 8/15/2013
Posts: 13,137
Location: Vacuum
Angelica _ann wrote:
Spokesperson's Office
State House, Nairobi

Friday, 19th June 2020

Press Statement

*President Kenyatta nominates Ms Nancy Janet Kabui Gathungu for position of Auditor General*

His Excellency President Uhuru Kenyatta has nominated Ms Nancy Janet Kabui Gathungu for the position of Auditor General.

Ms Gathungu was the first among the top three (3) candidates presented to His Excellency the President for nomination by the Recruitment Panel for the Selection of the Auditor General as set out in law.

Consequently, His Excellency the President has forwarded the name of Ms Nancy Janet Kabui Gathungu to the National Assembly for vetting.

Kanze Dena Mararo
Spokesperson


Wacha hii mcheso wewe. Same post on 100 different threads!
If Obiero did it, Who Am I?
Ericsson
#484 Posted : Friday, June 19, 2020 3:03:31 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,576
Location: NAIROBI
Angelica _ann wrote:
Spokesperson's Office
State House, Nairobi

Friday, 19th June 2020

Press Statement

*President Kenyatta nominates Ms Nancy Janet Kabui Gathungu for position of Auditor General*

His Excellency President Uhuru Kenyatta has nominated Ms Nancy Janet Kabui Gathungu for the position of Auditor General.

Ms Gathungu was the first among the top three (3) candidates presented to His Excellency the President for nomination by the Recruitment Panel for the Selection of the Auditor General as set out in law.

Consequently, His Excellency the President has forwarded the name of Ms Nancy Janet Kabui Gathungu to the National Assembly for vetting.

Kanze Dena Mararo
Spokesperson


Angelica_ann
Watch and learn,told you by July 1st
Ericsson
#485 Posted : Friday, June 19, 2020 3:09:09 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,576
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
sparkly wrote:
Ericsson wrote:
FY2019
profit before tax increased by 35% from ksh.3.1bn to ksh.4.18bn due to high gross premiums written,significant growth in the share of profit from investment in associate in Zep Re and gains on revaluation of investment property.
Asset base grew by 14% from ksh.44.36bn to 50.36bn
The board of directors recommend a dividend of ksh.0.1 per share

Link:https://www.nse.co.ke/listed-companies/company-announcements/issuer-announcements.html

10 cents, what a joke!
d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly
The stated EPS is 2.55 but the there is a 2bn FV Gain on Revaluation.
Any info?

The FV gain on revaluation was the Mbagathi way land.
Part of it was sold to NLC and KURA for construction of the upper hill to mbagathi way link road which has been completed and open to motorists
Asante.

So they owned land pale Mbagathi Way and sold a huge chunk for 2bn?
I am trying to get my head around it.

Or they sold a small portion and revalued the rest?

In this day and age, I am leery of revaluations unless they can really be sold for the revalued amounts.


Sold a small portion for ksh.300mn and revalued the rest based on the pricing of the sale
Ericsson
#486 Posted : Friday, June 19, 2020 3:11:53 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,576
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
sparkly wrote:
Ericsson wrote:
FY2019
profit before tax increased by 35% from ksh.3.1bn to ksh.4.18bn due to high gross premiums written,significant growth in the share of profit from investment in associate in Zep Re and gains on revaluation of investment property.
Asset base grew by 14% from ksh.44.36bn to 50.36bn
The board of directors recommend a dividend of ksh.0.1 per share

Link:https://www.nse.co.ke/listed-companies/company-announcements/issuer-announcements.html

10 cents, what a joke!
d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly
The stated EPS is 2.55 but the there is a 2bn FV Gain on Revaluation.
Any info?

The FV gain on revaluation was the Mbagathi way land.
Part of it was sold to NLC and KURA for construction of the upper hill to mbagathi way link road which has been completed and open to motorists
Asante.

So they owned land pale Mbagathi Way and sold a huge chunk for 2bn?
I am trying to get my head around it.

Or they sold a small portion and revalued the rest?

In this day and age, I am leery of revaluations unless they can really be sold for the revalued amounts.


Sold a small portion for ksh.300mn and revalued the rest based on the pricing of the sale
VituVingiSana
#487 Posted : Friday, June 19, 2020 5:27:07 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,108
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
sparkly wrote:
Ericsson wrote:
FY2019
profit before tax increased by 35% from ksh.3.1bn to ksh.4.18bn due to high gross premiums written,significant growth in the share of profit from investment in associate in Zep Re and gains on revaluation of investment property.
Asset base grew by 14% from ksh.44.36bn to 50.36bn
The board of directors recommend a dividend of ksh.0.1 per share

Link:https://www.nse.co.ke/listed-companies/company-announcements/issuer-announcements.html

10 cents, what a joke!
d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly
The stated EPS is 2.55 but the there is a 2bn FV Gain on Revaluation.
Any info?

The FV gain on revaluation was the Mbagathi way land.
Part of it was sold to NLC and KURA for construction of the upper hill to mbagathi way link road which has been completed and open to motorists
Asante.

So they owned land pale Mbagathi Way and sold a huge chunk for 2bn?
I am trying to get my head around it.

Or they sold a small portion and revalued the rest?

In this day and age, I am leery of revaluations unless they can really be sold for the revalued amounts.


Sold a small portion for ksh.300mn and revalued the rest based on the pricing of the sale
Thanks. Though in this day and age can they sell the rest for the 2bn? Too bad KURA didn't buy the whole thing! Laughing out loudly
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
sparkly
#488 Posted : Friday, June 19, 2020 7:42:55 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,809
Location: Enk are Nyirobi
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
sparkly wrote:
Ericsson wrote:
FY2019
profit before tax increased by 35% from ksh.3.1bn to ksh.4.18bn due to high gross premiums written,significant growth in the share of profit from investment in associate in Zep Re and gains on revaluation of investment property.
Asset base grew by 14% from ksh.44.36bn to 50.36bn
The board of directors recommend a dividend of ksh.0.1 per share

Link:https://www.nse.co.ke/listed-companies/company-announcements/issuer-announcements.html

10 cents, what a joke!
d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly
The stated EPS is 2.55 but the there is a 2bn FV Gain on Revaluation.
Any info?

The FV gain on revaluation was the Mbagathi way land.
Part of it was sold to NLC and KURA for construction of the upper hill to mbagathi way link road which has been completed and open to motorists
Asante.

So they owned land pale Mbagathi Way and sold a huge chunk for 2bn?
I am trying to get my head around it.

Or they sold a small portion and revalued the rest?

In this day and age, I am leery of revaluations unless they can really be sold for the revalued amounts.


Sold a small portion for ksh.300mn and revalued the rest based on the pricing of the sale
Thanks. Though in this day and age can they sell the rest for the 2bn? Too bad KURA didn't buy the whole thing! Laughing out loudly


Not a sale. Compulsory acquisition and compensation.
Life is short. Live passionately.
muandiwambeu
#489 Posted : Friday, June 19, 2020 8:02:23 PM
Rank: Veteran


Joined: 8/28/2015
Posts: 1,211
sparkly wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
sparkly wrote:
Ericsson wrote:
FY2019
profit before tax increased by 35% from ksh.3.1bn to ksh.4.18bn due to high gross premiums written,significant growth in the share of profit from investment in associate in Zep Re and gains on revaluation of investment property.
Asset base grew by 14% from ksh.44.36bn to 50.36bn
The board of directors recommend a dividend of ksh.0.1 per share

Link:https://www.nse.co.ke/listed-companies/company-announcements/issuer-announcements.html

10 cents, what a joke!
d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly
The stated EPS is 2.55 but the there is a 2bn FV Gain on Revaluation.
Any info?

The FV gain on revaluation was the Mbagathi way land.
Part of it was sold to NLC and KURA for construction of the upper hill to mbagathi way link road which has been completed and open to motorists
Asante.

So they owned land pale Mbagathi Way and sold a huge chunk for 2bn?
I am trying to get my head around it.

Or they sold a small portion and revalued the rest?

In this day and age, I am leery of revaluations unless they can really be sold for the revalued amounts.


Sold a small portion for ksh.300mn and revalued the rest based on the pricing of the sale
Thanks. Though in this day and age can they sell the rest for the 2bn? Too bad KURA didn't buy the whole thing! Laughing out loudly


Not a sale. Compulsory acquisition and compensation.

Whats the difference.
,Behold, a sower went forth to sow;....
VituVingiSana
#490 Posted : Friday, June 19, 2020 8:18:45 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,108
Location: Nairobi
muandiwambeu wrote:
sparkly wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
sparkly wrote:
Ericsson wrote:
FY2019
profit before tax increased by 35% from ksh.3.1bn to ksh.4.18bn due to high gross premiums written,significant growth in the share of profit from investment in associate in Zep Re and gains on revaluation of investment property.
Asset base grew by 14% from ksh.44.36bn to 50.36bn
The board of directors recommend a dividend of ksh.0.1 per share

Link:https://www.nse.co.ke/listed-companies/company-announcements/issuer-announcements.html

10 cents, what a joke!
d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly
The stated EPS is 2.55 but the there is a 2bn FV Gain on Revaluation.
Any info?

The FV gain on revaluation was the Mbagathi way land.
Part of it was sold to NLC and KURA for construction of the upper hill to mbagathi way link road which has been completed and open to motorists
Asante.

So they owned land pale Mbagathi Way and sold a huge chunk for 2bn?
I am trying to get my head around it.

Or they sold a small portion and revalued the rest?

In this day and age, I am leery of revaluations unless they can really be sold for the revalued amounts.


Sold a small portion for ksh.300mn and revalued the rest based on the pricing of the sale
Thanks. Though in this day and age can they sell the rest for the 2bn? Too bad KURA didn't buy the whole thing! Laughing out loudly


Not a sale. Compulsory acquisition and compensation.

Whats the difference.
Too bad KURA didn't forcibly acquire the whole thing for 2bn! Laughing out loudly
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#491 Posted : Friday, June 19, 2020 8:22:33 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,576
Location: NAIROBI
VituVingiSana wrote:
muandiwambeu wrote:
sparkly wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
sparkly wrote:
Ericsson wrote:
FY2019
profit before tax increased by 35% from ksh.3.1bn to ksh.4.18bn due to high gross premiums written,significant growth in the share of profit from investment in associate in Zep Re and gains on revaluation of investment property.
Asset base grew by 14% from ksh.44.36bn to 50.36bn
The board of directors recommend a dividend of ksh.0.1 per share

Link:https://www.nse.co.ke/listed-companies/company-announcements/issuer-announcements.html

10 cents, what a joke!
d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly
The stated EPS is 2.55 but the there is a 2bn FV Gain on Revaluation.
Any info?

The FV gain on revaluation was the Mbagathi way land.
Part of it was sold to NLC and KURA for construction of the upper hill to mbagathi way link road which has been completed and open to motorists
Asante.

So they owned land pale Mbagathi Way and sold a huge chunk for 2bn?
I am trying to get my head around it.

Or they sold a small portion and revalued the rest?

In this day and age, I am leery of revaluations unless they can really be sold for the revalued amounts.


Sold a small portion for ksh.300mn and revalued the rest based on the pricing of the sale
Thanks. Though in this day and age can they sell the rest for the 2bn? Too bad KURA didn't buy the whole thing! Laughing out loudly


Not a sale. Compulsory acquisition and compensation.

Whats the difference.
Too bad KURA didn't forcibly acquire the whole thing for 2bn! Laughing out loudly


Upper hill will in future expand and come towards Mbagathi way.
Might be an opportunity for Kenya Re to develop commercial grade buildings
VituVingiSana
#492 Posted : Friday, June 19, 2020 8:47:07 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,108
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
muandiwambeu wrote:
sparkly wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
sparkly wrote:
Ericsson wrote:
FY2019
profit before tax increased by 35% from ksh.3.1bn to ksh.4.18bn due to high gross premiums written,significant growth in the share of profit from investment in associate in Zep Re and gains on revaluation of investment property.
Asset base grew by 14% from ksh.44.36bn to 50.36bn
The board of directors recommend a dividend of ksh.0.1 per share

Link:https://www.nse.co.ke/listed-companies/company-announcements/issuer-announcements.html

10 cents, what a joke!
d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly
The stated EPS is 2.55 but the there is a 2bn FV Gain on Revaluation.
Any info?

The FV gain on revaluation was the Mbagathi way land.
Part of it was sold to NLC and KURA for construction of the upper hill to mbagathi way link road which has been completed and open to motorists
Asante.

So they owned land pale Mbagathi Way and sold a huge chunk for 2bn?
I am trying to get my head around it.

Or they sold a small portion and revalued the rest?

In this day and age, I am leery of revaluations unless they can really be sold for the revalued amounts.


Sold a small portion for ksh.300mn and revalued the rest based on the pricing of the sale
Thanks. Though in this day and age can they sell the rest for the 2bn? Too bad KURA didn't buy the whole thing! Laughing out loudly


Not a sale. Compulsory acquisition and compensation.

Whats the difference.
Too bad KURA didn't forcibly acquire the whole thing for 2bn! Laughing out loudly


Upper hill will in future expand and come towards Mbagathi way.
Might be an opportunity for Kenya Re to develop commercial grade buildings

NOOOOOOO Shame on you d'oh!

What do you mean by commercial grade?

Firms are learning that some jobs need not be done from expensive offices or prime real estate.
Equity bank has started reducing the size of some of their branches too!

Kenya Re has 3 office buildings that I know of in Nairobi.

Anniversary Towers
Kenya Re Plaza in CBD
Kenya Re Tower in Upper Hill

I visited all 3 as part of my DD. BTW, CMA was/is in Kenya Re Plaza.

Perhaps a high-rise tower for middle-class folks in the future?
Or a mixed-use building e.g. residential, commercial and some office.
No need for another 100% office building in Nairobi.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#493 Posted : Friday, June 19, 2020 10:15:29 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,576
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
muandiwambeu wrote:
sparkly wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
sparkly wrote:
Ericsson wrote:
FY2019
profit before tax increased by 35% from ksh.3.1bn to ksh.4.18bn due to high gross premiums written,significant growth in the share of profit from investment in associate in Zep Re and gains on revaluation of investment property.
Asset base grew by 14% from ksh.44.36bn to 50.36bn
The board of directors recommend a dividend of ksh.0.1 per share

Link:https://www.nse.co.ke/listed-companies/company-announcements/issuer-announcements.html

10 cents, what a joke!
d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly
The stated EPS is 2.55 but the there is a 2bn FV Gain on Revaluation.
Any info?

The FV gain on revaluation was the Mbagathi way land.
Part of it was sold to NLC and KURA for construction of the upper hill to mbagathi way link road which has been completed and open to motorists
Asante.

So they owned land pale Mbagathi Way and sold a huge chunk for 2bn?
I am trying to get my head around it.

Or they sold a small portion and revalued the rest?

In this day and age, I am leery of revaluations unless they can really be sold for the revalued amounts.


Sold a small portion for ksh.300mn and revalued the rest based on the pricing of the sale
Thanks. Though in this day and age can they sell the rest for the 2bn? Too bad KURA didn't buy the whole thing! Laughing out loudly


Not a sale. Compulsory acquisition and compensation.

Whats the difference.
Too bad KURA didn't forcibly acquire the whole thing for 2bn! Laughing out loudly


Upper hill will in future expand and come towards Mbagathi way.
Might be an opportunity for Kenya Re to develop commercial grade buildings

NOOOOOOO Shame on you d'oh!

What do you mean by commercial grade?

Firms are learning that some jobs need not be done from expensive offices or prime real estate.
Equity bank has started reducing the size of some of their branches too!



Kenya Re has 3 office buildings that I know of in Nairobi.

Anniversary Towers
Kenya Re Plaza in CBD
Kenya Re Tower in Upper Hill

I visited all 3 as part of my DD. BTW, CMA was/is in Kenya Re Plaza.

Perhaps a high-rise tower for middle-class folks in the future?
Or a mixed-use building e.g. residential, commercial and some office.
No need for another 100% office building in Nairobi.


Government is expanding towards upper hill.They have taken several office space.
Commercial grade means commercial buildings/office parks.
CMA is at Embankment plaza,Upper Hill.
Wakanyugi
#494 Posted : Saturday, June 20, 2020 11:22:14 AM
Rank: Veteran


Joined: 7/3/2007
Posts: 1,624
Ericsson wrote:
Angelica _ann wrote:
Spokesperson's Office
State House, Nairobi

Friday, 19th June 2020

Press Statement

*President Kenyatta nominates Ms Nancy Janet Kabui Gathungu for position of Auditor General*

His Excellency President Uhuru Kenyatta has nominated Ms Nancy Janet Kabui Gathungu for the position of Auditor General.

Ms Gathungu was the first among the top three (3) candidates presented to His Excellency the President for nomination by the Recruitment Panel for the Selection of the Auditor General as set out in law.

Consequently, His Excellency the President has forwarded the name of Ms Nancy Janet Kabui Gathungu to the National Assembly for vetting.

Kanze Dena Mararo
Spokesperson



Angelica_ann
Watch and learn,told you by July 1st


Na Huyo Meshak Obiero, who was in the shortlist, ni Obiero wetu?
"The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
Queen
#495 Posted : Saturday, June 20, 2020 1:58:18 PM
Rank: Member


Joined: 11/21/2018
Posts: 326
Location: Britain
Wakanyugi wrote:
Ericsson wrote:
Angelica _ann wrote:
Spokesperson's Office
State House, Nairobi

Friday, 19th June 2020

Press Statement

*President Kenyatta nominates Ms Nancy Janet Kabui Gathungu for position of Auditor General*

His Excellency President Uhuru Kenyatta has nominated Ms Nancy Janet Kabui Gathungu for the position of Auditor General.

Ms Gathungu was the first among the top three (3) candidates presented to His Excellency the President for nomination by the Recruitment Panel for the Selection of the Auditor General as set out in law.

Consequently, His Excellency the President has forwarded the name of Ms Nancy Janet Kabui Gathungu to the National Assembly for vetting.

Kanze Dena Mararo
Spokesperson



Angelica_ann
Watch and learn,told you by July 1st


Na Huyo Meshak Obiero, who was in the shortlist, ni Obiero wetu?


Hapana. Wetu ni Collins.
Queen
#496 Posted : Saturday, June 20, 2020 2:06:38 PM
Rank: Member


Joined: 11/21/2018
Posts: 326
Location: Britain
sparkly wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
sparkly wrote:
Ericsson wrote:
FY2019
profit before tax increased by 35% from ksh.3.1bn to ksh.4.18bn due to high gross premiums written,significant growth in the share of profit from investment in associate in Zep Re and gains on revaluation of investment property.
Asset base grew by 14% from ksh.44.36bn to 50.36bn
The board of directors recommend a dividend of ksh.0.1 per share

Link:https://www.nse.co.ke/listed-companies/company-announcements/issuer-announcements.html

10 cents, what a joke!
d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly
The stated EPS is 2.55 but the there is a 2bn FV Gain on Revaluation.
Any info?

The FV gain on revaluation was the Mbagathi way land.
Part of it was sold to NLC and KURA for construction of the upper hill to mbagathi way link road which has been completed and open to motorists
Asante.

So they owned land pale Mbagathi Way and sold a huge chunk for 2bn?
I am trying to get my head around it.

Or they sold a small portion and revalued the rest?

In this day and age, I am leery of revaluations unless they can really be sold for the revalued amounts.


Sold a small portion for ksh.300mn and revalued the rest based on the pricing of the sale
Thanks. Though in this day and age can they sell the rest for the 2bn? Too bad KURA didn't buy the whole thing! Laughing out loudly


Not a sale. Compulsory acquisition and compensation.


It should also be noted that during compulsory acquistions, the government normally pay a 15% premium over and above the current market valuation of a property. So for this case, most probably, the 2B revaluations is inclusive of the 15% market valuation top-up.
sparkly
#497 Posted : Saturday, June 20, 2020 2:24:48 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,809
Location: Enk are Nyirobi
Queen wrote:
Wakanyugi wrote:
Ericsson wrote:
Angelica _ann wrote:
Spokesperson's Office
State House, Nairobi

Friday, 19th June 2020

Press Statement

*President Kenyatta nominates Ms Nancy Janet Kabui Gathungu for position of Auditor General*

His Excellency President Uhuru Kenyatta has nominated Ms Nancy Janet Kabui Gathungu for the position of Auditor General.

Ms Gathungu was the first among the top three (3) candidates presented to His Excellency the President for nomination by the Recruitment Panel for the Selection of the Auditor General as set out in law.

Consequently, His Excellency the President has forwarded the name of Ms Nancy Janet Kabui Gathungu to the National Assembly for vetting.

Kanze Dena Mararo
Spokesperson



Angelica_ann
Watch and learn,told you by July 1st


Na Huyo Meshak Obiero, who was in the shortlist, ni Obiero wetu?


Hapana. Wetu ni Collins.


Ndiye huyu wetu, lakini hajataja KQ kwa website -

http://www.winda.co.ke/brief.php

Life is short. Live passionately.
sparkly
#498 Posted : Saturday, June 20, 2020 2:28:36 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,809
Location: Enk are Nyirobi
Queen wrote:
sparkly wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
sparkly wrote:
Ericsson wrote:
FY2019
profit before tax increased by 35% from ksh.3.1bn to ksh.4.18bn due to high gross premiums written,significant growth in the share of profit from investment in associate in Zep Re and gains on revaluation of investment property.
Asset base grew by 14% from ksh.44.36bn to 50.36bn
The board of directors recommend a dividend of ksh.0.1 per share

Link:https://www.nse.co.ke/listed-companies/company-announcements/issuer-announcements.html

10 cents, what a joke!
d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly d'oh! Laughing out loudly
The stated EPS is 2.55 but the there is a 2bn FV Gain on Revaluation.
Any info?

The FV gain on revaluation was the Mbagathi way land.
Part of it was sold to NLC and KURA for construction of the upper hill to mbagathi way link road which has been completed and open to motorists
Asante.

So they owned land pale Mbagathi Way and sold a huge chunk for 2bn?
I am trying to get my head around it.

Or they sold a small portion and revalued the rest?

In this day and age, I am leery of revaluations unless they can really be sold for the revalued amounts.


Sold a small portion for ksh.300mn and revalued the rest based on the pricing of the sale
Thanks. Though in this day and age can they sell the rest for the 2bn? Too bad KURA didn't buy the whole thing! Laughing out loudly


Not a sale. Compulsory acquisition and compensation.


It should also be noted that during compulsory acquistions, the government normally pay a 15% premium over and above the current market valuation of a property. So for this case, most probably, the 2B revaluations is inclusive of the 15% market valuation top-up.


Good to know. Valuation will quickly catch up with the premium since a good road is now servicing the land.
Life is short. Live passionately.
Ericsson
#499 Posted : Sunday, June 21, 2020 7:51:17 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,576
Location: NAIROBI
Kenya Reinsurance Corporation Uganda subsidiary began operations in January 1 2020.
Kenya Re also holds a 11.5% stake in Uganda Reinsurance Company.

Share capital through issuance of bonus was increased so that the company can continue underwriting business in Egypt where capital requirements had been revised.
BKB
#500 Posted : Wednesday, June 24, 2020 11:18:17 AM
Rank: New-farer


Joined: 1/14/2015
Posts: 16
Location: KYN
Ksh 2.10 prints on a huge 8.94M volume.
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