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Centum FY2022 - FY2026
mlennyma
#21 Posted : Wednesday, July 28, 2021 11:42:57 AM
Rank: Elder


Joined: 7/21/2010
Posts: 6,116
Location: nairobi
VituVingiSana wrote:
A pity about the dividend when CICP has 7.5bn in cash equivalents.
The loss was expected due to COVID19.

FV Losses also expected with a tough real estate market.


a sell for me
"Don't let the fear of losing be greater than the excitement of winning."
Ericsson
#22 Posted : Wednesday, July 28, 2021 5:30:52 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,844
Location: NAIROBI
VituVingiSana wrote:
A pity about the dividend when CICP has 7.5bn in cash equivalents.
The loss was expected due to COVID19.

FV Losses also expected with a tough real estate market.



https://youtu.be/EYhiEJaFDiI


Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#23 Posted : Wednesday, July 28, 2021 10:09:51 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,844
Location: NAIROBI
VituVingiSana wrote:
A pity about the dividend when CICP has 7.5bn in cash equivalents.
The loss was expected due to COVID19.

FV Losses also expected with a tough real estate market.


They are playing it safe and cautious with cash because they are navigating through dangerous waters.
Real estate market is tough.
Centum is looking for an equity investor for TRDL.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#24 Posted : Thursday, July 29, 2021 8:23:20 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,844
Location: NAIROBI
mlennyma wrote:
VituVingiSana wrote:
A pity about the dividend when CICP has 7.5bn in cash equivalents.
The loss was expected due to COVID19.

FV Losses also expected with a tough real estate market.


a sell for me


https://www.standardmedi...s-centum-into-sh14b-loss
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#25 Posted : Thursday, July 29, 2021 8:37:28 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,559
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
A pity about the dividend when CICP has 7.5bn in cash equivalents.
The loss was expected due to COVID19.

FV Losses also expected with a tough real estate market.


They are playing it safe and cautious with cash because they are navigating through dangerous waters.
Real estate market is tough.
Centum is looking for an equity investor for TRDL.
Disconnect between the board and shareholders.
Centum received a lot of cash from sales in the past but the dividend was not increased. It has been 1.20/share for 4 years. The cash was used to pay down debt and shareholders understood.

Now it's a slap on our faces when we need that money. Centum could have announced 1.20 and paid it in October which is 5 months after Year End giving them time to "earn" it.

7.5bn in cash equivalents and 3bn in debt (Mar 2021) gives Centum a lot of leeway to pay 750mn in Oct 2021.

The board broke the promise it had made while long-term shareholders waited patiently.

I still like and support Mworia but the board isn't doing its job. Centum needs new directors.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#26 Posted : Thursday, July 29, 2021 10:00:02 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,844
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
A pity about the dividend when CICP has 7.5bn in cash equivalents.
The loss was expected due to COVID19.

FV Losses also expected with a tough real estate market.


They are playing it safe and cautious with cash because they are navigating through dangerous waters.
Real estate market is tough.
Centum is looking for an equity investor for TRDL.
Disconnect between the board and shareholders.
Centum received a lot of cash from sales in the past but the dividend was not increased. It has been 1.20/share for 4 years. The cash was used to pay down debt and shareholders understood.

Now it's a slap on our faces when we need that money. Centum could have announced 1.20 and paid it in October which is 5 months after Year End giving them time to "earn" it.

7.5bn in cash equivalents and 3bn in debt (Mar 2021) gives Centum a lot of leeway to pay 750mn in Oct 2021.

The board broke the promise it had made while long-term shareholders waited patiently.

I still like and support Mworia but the board isn't doing its job. Centum needs new directors.


The group consolidated financial statements shows borrowing at ksh.25bn
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
watesh
#27 Posted : Thursday, July 29, 2021 10:10:28 AM
Rank: Member


Joined: 8/10/2014
Posts: 883
Location: Kenya
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
A pity about the dividend when CICP has 7.5bn in cash equivalents.
The loss was expected due to COVID19.

FV Losses also expected with a tough real estate market.


They are playing it safe and cautious with cash because they are navigating through dangerous waters.
Real estate market is tough.
Centum is looking for an equity investor for TRDL.
Disconnect between the board and shareholders.
Centum received a lot of cash from sales in the past but the dividend was not increased. It has been 1.20/share for 4 years. The cash was used to pay down debt and shareholders understood.

Now it's a slap on our faces when we need that money. Centum could have announced 1.20 and paid it in October which is 5 months after Year End giving them time to "earn" it.

7.5bn in cash equivalents and 3bn in debt (Mar 2021) gives Centum a lot of leeway to pay 750mn in Oct 2021.

The board broke the promise it had made while long-term shareholders waited patiently.

I still like and support Mworia but the board isn't doing its job. Centum needs new directors.


They changed the dividend policy just like that after hyping us since FY20 that they have enough retained earnings to sustain the dividends no matter what comes. I saw in the cashflow statement that they instead chose to buy more treasury/corporate bonds instead.
Ericsson
#28 Posted : Wednesday, August 04, 2021 2:59:33 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,844
Location: NAIROBI
Centum wants to sell Two Rivers stake but admits market is not conducive
Investment firm Centum wants to sell over 20 per cent stake in Two Rivers Development Ltd and become a small shareholder as it tries to cut debt and shore up revenues.

Chief Executive James Mworia said they are looking at getting a strategic buyer who will dilute their stake to around 30 per cent to bring in money to retire the portfolio’s debt.

At the moment, Centum holds 58 per cent in Two Rivers Development Ltd while AVIC International holds 39 per cent, and ICDC owns 3 per cent but the business was loss making to the tune of Kes 1.9 billion in the year ended March 2021.

“We want to bring in some equity investment and that of course will dilute us, we might be 30 to 35 per cent, we do not know. Someone said to me once I would rather be a tail on a lion than the head of a dog,” Mr Mworia said on NTV’s Business Redefined show.

https://maudhui.co.ke/ce...market-is-not-conducive/
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#29 Posted : Wednesday, August 04, 2021 3:27:12 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,559
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
A pity about the dividend when CICP has 7.5bn in cash equivalents.
The loss was expected due to COVID19.

FV Losses also expected with a tough real estate market.


They are playing it safe and cautious with cash because they are navigating through dangerous waters.
Real estate market is tough.
Centum is looking for an equity investor for TRDL.
Disconnect between the board and shareholders.
Centum received a lot of cash from sales in the past but the dividend was not increased. It has been 1.20/share for 4 years. The cash was used to pay down debt and shareholders understood.

Now it's a slap on our faces when we need that money. Centum could have announced 1.20 and paid it in October which is 5 months after Year End giving them time to "earn" it.

7.5bn in cash equivalents and 3bn in debt (Mar 2021) gives Centum a lot of leeway to pay 750mn in Oct 2021.

The board broke the promise it had made while long-term shareholders waited patiently.

I still like and support Mworia but the board isn't doing its job. Centum needs new directors.


The group consolidated financial statements shows borrowing at ksh.25bn
That statement means little unless analyzed further & deeper.

For those who are serious and interested in analysis: That 25bn (that @ericsson talks of) includes debt on subsidiaries that have minority shareholders.

Centum owns only 58% of TRDL and effectively only 29% of TRLC (Mall). Just as one allocates assets according to the ownership % the same applies to debt.

Same for Longhorn. And Sidian. And Sabis. And Akiira (no debt for now).
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#30 Posted : Wednesday, August 04, 2021 3:41:39 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,559
Location: Nairobi
watesh wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
A pity about the dividend when CICP has 7.5bn in cash equivalents.
The loss was expected due to COVID19.

FV Losses also expected with a tough real estate market.


They are playing it safe and cautious with cash because they are navigating through dangerous waters.
Real estate market is tough.
Centum is looking for an equity investor for TRDL.
Disconnect between the board and shareholders.
Centum received a lot of cash from sales in the past but the dividend was not increased. It has been 1.20/share for 4 years. The cash was used to pay down debt and shareholders understood.

Now it's a slap on our faces when we need that money. Centum could have announced 1.20 and paid it in October which is 5 months after Year End giving them time to "earn" it.

7.5bn in cash equivalents and 3bn in debt (Mar 2021) gives Centum a lot of leeway to pay 750mn in Oct 2021.

The board broke the promise it had made while long-term shareholders waited patiently.

I still like and support Mworia but the board isn't doing its job. Centum needs new directors.


They changed the dividend policy just like that after hyping us since FY20 that they have enough retained earnings to sustain the dividends no matter what comes. I saw in the cashflow statement that they instead chose to buy more treasury/corporate bonds instead.
Yes, a huge hit to their credibility with shareholders/investor after all the hype.
After selling NBL/Almasi the dividend wasn't increased but kept the same and were told why BUT as you said we were also told the dividend would remain at 1.20 given the interest savings after paying down the loans.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
kmucheke
#31 Posted : Thursday, August 05, 2021 4:51:18 PM
Rank: Member


Joined: 3/16/2019
Posts: 261
Two Rivers traders earn Sh1bn during Somali cultural fete

Quote:
“Through the week we were able to realise transactions of above Sh1 billion across permanent retail tenants and vendors selected for this particular festival…which had over 100 vendors in the fair,” said Shurea Nkutu, an accounts manager at Two Rivers Lifestyle Centre.

The organising committee of the Somali festival now expects to roll out at least three such events every year t coincide with major Muslim religious holidays. The mall, which was developed by listed form Centum, is now preparing to set up a small traders market to attract customers and give vendors a new avenue to sell their goods.

“We have been in discussions where we will be able to establish a souq (street market) within Two Rivers so that we can create a platform or avenue for traders to sell and customers to access products affordably,” said Centum chief executive officer James Mworia.
kmucheke
#32 Posted : Thursday, August 05, 2021 5:28:51 PM
Rank: Member


Joined: 3/16/2019
Posts: 261
Two Rivers traders earn Sh1bn during Somali cultural fete

Quote:
“Through the week we were able to realise transactions of above Sh1 billion across permanent retail tenants and vendors selected for this particular festival…which had over 100 vendors in the fair,” said Shurea Nkutu, an accounts manager at Two Rivers Lifestyle Centre.

The organising committee of the Somali festival now expects to roll out at least three such events every year t coincide with major Muslim religious holidays. The mall, which was developed by listed form Centum, is now preparing to set up a small traders market to attract customers and give vendors a new avenue to sell their goods.

“We have been in discussions where we will be able to establish a souq (street market) within Two Rivers so that we can create a platform or avenue for traders to sell and customers to access products affordably,” said Centum chief executive officer James Mworia.
kmucheke
#33 Posted : Tuesday, September 21, 2021 3:15:10 PM
Rank: Member


Joined: 3/16/2019
Posts: 261
Centum plans sale part or all of its shareholding in real estate subsidiary
Quote:
“We are open to selling part or all of our stake in Centum RE. We are doing this to rebalance our portfolio which is currently concentrated in real estate,” James Mworia, Centum’s chief executive, told Business Daily.

“The money raised will be reinvested in marketable securities (stocks and bonds) and private equity to reach our allocation target in these two segments.”

Quote:

Centum held 63.5 percent of its Sh47.5 billion worth of assets in the year ended March in real estate, overshooting its target maximum of 55 percent.

Quote:

Centum’s allocation in private equity and marketable securities on the other hand stood at 20.5 percent and 16 percent, trailing the target of 40 percent and 20 percent respectively.


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