Jubilee Development - KPA Mombasa Kilindini port to make Kshs 15.4 billion profit

spear

Village Sponsor
#1
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MOMBASA, Kenya, Jun 14 – The Kenya Ports Authority projects a Sh15.4 billion profit after tax this financial year, the Managing Director Daniel Manduku said on Friday.

By May 31 this year, according to Manduku, KPA had collected Sh48.9 billion in revenue.

“By May 31, one month to the close of the financial year on June 30, we had already collected Sh48,879,838,000 revenue,” said Manduku.

The KPA’s expenditure by the end of May was Sh34,815,920,000 and finance income was at Sh1,898,705,000, said Manduku in a statement.

“By the end of this financial year on June 30, we project to collect Sh55.3 billion. The total expenditure will be 37.9 billion and profit before tax will be 17.43 billion. We, however, predict accruals of about Sh2 billion to bring the profit down to about Sh15.4 billion,” he said.

According to Manduku, who was officially appointed managing director in November last year after serving five months in acting capacity from June of the same year, the Sh15.4 billion will be the highest ever profit to be made by KPA. In last year’s financial year, KPA made a Sh9 billion profit, said Manduku. He attributes this success to the physical improvement of the facilities within the port of Mombasa and ongoing recruitment of human capital.

Manduku also said they have recorded the highest number of Standard Gauge Railway (SGR) freight trains transporting cargo from Mombasa to the Nairobi Inland Container Depot this year.

 
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spear

Village Sponsor
#3
:oops:Like the projections for sgr?o_O
Yes, if you listen to nation media propaganda you will be misled.

In 2018, SGR was able to pay for its 12 billion annual operations thanks to freight service revenue. This is despite the fact that for six months the service was just doing 1 pair trip as business adjust to it. By Jan 2019 it was doing 14 pairs trips. Githeri media created a headline of 10 billion loss instead. The question is where in the world is a railway expected to make a profit in 1 year. Its built for 100 years operations.

In 2019, the second full years of operations, its monthly performance shows it will pay for its operations Kshs 12 billion and actually on course to make between Kshs 28 billion to 38 billion as well. This is simply because its great haul of Dec 2018 has continued in Jan-Feb-Mar-Apr-May 2019. Still 15 cargo freight pairs daily but the variety of cargo includes high premium costs payments fro general cargo like steel and clinker. Cargo volumes are also up. Await a surprise once the half year results are released by CCCC. It may actually break even this year or come very close to it. What's is most impressive is 0% downtime in one year. No single trip has delayed or been cancelled. Instead nation media again become mischievous, they picked KNBS report and only highlighted the container traffic revenue instead of both container and general cargo comvined revenue. They then ran headlines that SGR has revised revenue downwards and it has failed. Whoever is paying them is very crafty and has very deep pockets. However their window for propaganda is about to end as more revenue collection statements come out to show success. Normally it was expected that it will take at best 5 years to break even for a railway project and that is why we have the bulk of the loan on 10 years grace period. The loan is split into three categories. The first is an immediate loan paid annually. The second is a short term loan which we started paying after completion of the project. Luckly former President Kibaki had introduced the Railway Levy Fund in 2010. Every import pays 1.5% of the invoice value to this fund. This year it will collect 27 billion. This two loans are comfortably been paid by the Railway levy fund and they actually have at least 10 billion remaining. The balance is what is user for land acquisition for the SGR corridor. Lastly the last loan is a concessionary long term loan at 2% that has a grace period of 10 years. So let nobody lie that we can't pay for it. However if we break even this year or the next then we are the clear to continue with construction to Malaba. The final maths at the end if June will make that decision easy.
 

1776

Village Sponsor
#4
Yes, if you listen to nation media propaganda you will be misled.

In 2018, SGR was able to pay for its 12 billion annual operations thanks to freight service revenue. This is despite the fact that for six months the service was just doing 1 pair trip as business adjust to it. By Jan 2019 it was doing 14 pairs trips. Githeri media created a headline of 10 billion loss instead. The question is where in the world is a railway expected to make a profit in 1 year. Its built for 100 years operations.

In 2019, the second full years of operations, its monthly performance shows it will pay for its operations Kshs 12 billion and actually on course to make between Kshs 28 billion to 38 billion as well. This is simply because its great haul of Dec 2018 has continued in Jan-Feb-Mar-Apr-May 2019. Still 15 cargo freight pairs daily but the variety of cargo includes high premium costs payments fro general cargo like steel and clinker. Cargo volumes are also up. Await a surprise once the half year results are released by CCCC. It may actually break even this year or come very close to it. What's is most impressive is 0% downtime in one year. No single trip has delayed or been cancelled. Instead nation media again become mischievous, they picked KNBS report and only highlighted the container traffic revenue instead of both container and general cargo comvined revenue. They then ran headlines that SGR has revised revenue downwards and it has failed. Whoever is paying them is very crafty and has very deep pockets. However their window for propaganda is about to end as more revenue collection statements come out to show success. Normally it was expected that it will take at best 5 years to break even for a railway project and that is why we have the bulk of the loan on 10 years grace period. The loan is split into three categories. The first is an immediate loan paid annually. The second is a short term loan which we started paying after completion of the project. Luckly former President Kibaki had introduced the Railway Levy Fund in 2010. Every import pays 1.5% of the invoice value to this fund. This year it will collect 27 billion. This two loans are comfortably been paid by the Railway levy fund and they actually have at least 10 billion remaining. The balance is what is user for land acquisition for the SGR corridor. Lastly the last loan is a concessionary long term loan at 2% that has a grace period of 10 years. So let nobody lie that we can't pay for it. However if we break even this year or the next then we are the clear to continue with construction to Malaba. The final maths at the end if June will make that decision easy.
i await to see this.
reason we remain sceptical is because info is either never forthcoming or comes in bits. let's wait and see.
 

ranny

Village Elder
#5
Yes, if you listen to nation media propaganda you will be misled.

In 2018, SGR was able to pay for its 12 billion annual operations thanks to freight service revenue. This is despite the fact that for six months the service was just doing 1 pair trip as business adjust to it. By Jan 2019 it was doing 14 pairs trips. Githeri media created a headline of 10 billion loss instead. The question is where in the world is a railway expected to make a profit in 1 year. Its built for 100 years operations.

In 2019, the second full years of operations, its monthly performance shows it will pay for its operations Kshs 12 billion and actually on course to make between Kshs 28 billion to 38 billion as well. This is simply because its great haul of Dec 2018 has continued in Jan-Feb-Mar-Apr-May 2019. Still 15 cargo freight pairs daily but the variety of cargo includes high premium costs payments fro general cargo like steel and clinker. Cargo volumes are also up. Await a surprise once the half year results are released by CCCC. It may actually break even this year or come very close to it. What's is most impressive is 0% downtime in one year. No single trip has delayed or been cancelled. Instead nation media again become mischievous, they picked KNBS report and only highlighted the container traffic revenue instead of both container and general cargo comvined revenue. They then ran headlines that SGR has revised revenue downwards and it has failed. Whoever is paying them is very crafty and has very deep pockets. However their window for propaganda is about to end as more revenue collection statements come out to show success. Normally it was expected that it will take at best 5 years to break even for a railway project and that is why we have the bulk of the loan on 10 years grace period. The loan is split into three categories. The first is an immediate loan paid annually. The second is a short term loan which we started paying after completion of the project. Luckly former President Kibaki had introduced the Railway Levy Fund in 2010. Every import pays 1.5% of the invoice value to this fund. This year it will collect 27 billion. This two loans are comfortably been paid by the Railway levy fund and they actually have at least 10 billion remaining. The balance is what is user for land acquisition for the SGR corridor. Lastly the last loan is a concessionary long term loan at 2% that has a grace period of 10 years. So let nobody lie that we can't pay for it. However if we break even this year or the next then we are the clear to continue with construction to Malaba. The final maths at the end if June will make that decision easy.
Not denying we have githeri media, but at times they speak the truth. Right now we have different government Agencies giving contrasting revenue figures. The same government promised to release the sgr contract then backtracked_ showing that the media portrayal of the contract was true. The media also highlighted how the sgr is all about opportunities for the Chinese and zero_ infact probably negative impact on kenyans_ this is also true witnessing how Chinese fill up positions at sgr while taking away jobs from Kenyan truck drivers and touts. So bwana spear, maendeleo ya Chinese without showing how much we as Kenyans are selling our souls ni story za abunuasi.
 

spear

Village Sponsor
#6
Not denying we have githeri media, but at times they speak the truth. Right now we have different government Agencies giving contrasting revenue figures. The same government promised to release the sgr contract then backtracked_ showing that the media portrayal of the contract was true. The media also highlighted how the sgr is all about opportunities for the Chinese and zero_ infact probably negative impact on kenyans_ this is also true witnessing how Chinese fill up positions at sgr while taking away jobs from Kenyan truck drivers and touts. So bwana spear, maendeleo ya Chinese without showing how much we as Kenyans are selling our souls ni story za abunuasi.
4000 Kenyans work for SGR operations. 1000 Chinese work for SGR operations. 500 of them are from CBRC and are mostly based in the control centre in Nairobi terminal and head office. 500 are supervisors along the route. This was reached by Kenya and Ug that CCCC will ran the operations for 5 years until we complete training all our local staff here at Railway institute and in China. When they come back here they become interns until they graduate to take over from the Chinese. There was nobody in KR that could those jobs. Long retired, different systems etc. How can you put someone who has never seen or trained on the electronic to be incharge. 10 trains on the track at anytime. 1000 people, millions worth of goods managed by untrained staff? So await them complete training to take their place. Its stupid and risky to do otherwise.


The AG therefore asked they form a local subsidiary here to ran the operations. CBRC directors in China formed that company here, fully owned 100% lakini mnadanganywa hapa. Do you know they work 3 months without an off. Off is one day in 3 months. The Chinese Premier warned them that any mistake will be met by harsh punishment at home for the embarrassment. Recently 3 of them were caught taking refunds for tickets paid but owners didn't use them. They were put under suicide watch as they feared going back home deported. They fear what awaits them back home.
 
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ranny

Village Elder
#7
4000 Kenyans work for SGR operations. 1000 Chinese work for SGR operations. 500 of them are from CBRC and are mostly based in the control centre in Nairobi terminal and head office. 500 are supervisors along the route. This was reached by Kenya and Ug that CCCC will ran the operations for 5 years until we complete training all our local staff here at Railway institute and in China. When they come back here they become interns until they graduate to take over from the Chinese. There was nobody in KR that could those jobs. Long retired, different systems etc. How can you put someone who has never seen or trained on the electronic to be incharge. 10 trains on the track at anytime. 1000 people, millions worth of goods managed by untrained staff? So await them complete training to take their place. Its stupid and risky to do otherwise.


The AG therefore asked they form a local subsidiary here to ran the operations. CBRC directors in China formed that company here, fully owned 100% lakini mnadanganywa hapa. Do you know they work 3 months without an off. Off is one day in 3 months. The Chinese Premier warned them that any mistake will be met by harsh punishment at home for the embarrassment. Recently 3 of them were caught taking refunds for tickets paid but owners didn't use them. They were put under suicide watch as they feared going back home deported. They fear what awaits them back home.
I've heard all the government denials and defenses. Luckily I have an insider with true info. That's why instead of addressing reported and recorded harassment by Chinese at sgr, the government decided to victim blame and banned recording and reporting of such issues. The Chinese will prove to be a curse on kenya. I hope the government is preparing the excuses they will give us in five years when the Chinese are still running the sgr and every sector of the economy. Let me see..... Something like ethicless Kenyans, disciplined Chinese, Kenyans not able to learn [ I mean, flying planes is one thing, but obviously driving a train takes years to learn and Kenyan are obviously too dumb ....].....bla bla bla.

The truth of the matter is that if media portrayal was not the truth, then the government would be countering with facts e.g. .by producing the contracts as kamwana had promised.

The sgr was a great idea that I celebrated. But I have come to realize that it was not worth given the terms we acquired it under. I am sure even the government Mandarins are too ashamed of the contracts they signed to allow publication. Reminds me of the ancestors exchanging gold and slaves for beads
 
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spear

Village Sponsor
#8
I've heard all the government denials and defenses. Luckily I have an insider with true info. That's why instead of addressing reported and recorded harassment by Chinese at sgr, the government decided to victim blame and banned recording and reporting of such issues. The Chinese will prove to be a curse on kenya. I hope the government is preparing the excuses they will give us in five years when the Chinese are still running the sgr. Let me see..... Something like ethicless Kenyans, disciplined Chinese, Kenyans not able to learn [ I mean, flying planes is one thing, but obviously driving a train takes years to learn and Kenyan are obviously too dumb ....].....bla bla bla.

The truth of the matter is that if media portrayal was not the truth, then the government would be countering with facts e.g. .by producing the contracts as kamwana had promised.
Goodnight I can't say more. Even that pilot went to flight school which I still remember is one of the toughest exams. Then he had to gain 5000 flight hours to take charge of a plane. When you mention the train locomot I've and anyone can drive it shows ignorance. The Chinese driver themselves trained for 2 years and spent another 2 years on internship to gain the 1000 hours to start riding it. Lakini in the name of inclusiveness we want to cut corners. The story of what's wrong in most of Kenya. If accidents happen and people die, you know where blame will go. Watch that video of the lady train drivers on how important the training is. That train locomotives is modern and digital. Don't try to cut corners in training and experience. You you accept that from your doctor or pilot and put their lives in it. Just last month the first batch of drivers graduated to captains here. They are now doing it themselves. Impatient is our undoing.
 

ranny

Village Elder
#9
Goodnight I can't say more. Even that pilot went to flight school which I still remember is one of the toughest exams. Then he had to gain 5000 flight hours to take charge of a plane. When you mention the train locomot I've and anyone can drive it shows ignorance. The Chinese driver themselves trained for 2 years and spent another 2 years on internship to gain the 1000 hours to start riding it. Lakini in the name of inclusiveness we want to cut corners. The story of what's wrong in most of Kenya. If accidents happen and people die, you know where blame will go. Watch that video of the lady train drivers on how important the training is. That train ilocomotives is modern and digital. Don't try to cut corners in training and experience. You you accept that from your doctor or pilot and put their lives in it. Just last month the first batch of drivers graduated to captains here. They are now doing it themselves. Impatient is our undoing.
never did I say anyone can drive it. And a piece of pr video proves nothing. What matters is what goes on once the cameras leave. To quote a great opinion I saw on the star,
giving the Chinese a free hand to run the sgr and paying handsomely for that is like a bank giving me a loan to build rentals, then I give the bank free hand in collecting rent with nothing remitted to me except invoices for upkeep......and loan repayment demand. It is only a special kind of imbecile who would sign such an agreement........or a very greedy and compromised one. Goodnight
 

spear

Village Sponsor
#10
never did I say anyone can drive it. And a piece of pr video proves nothing. What matters is what goes on once the cameras leave. To quote a great opinion I saw on the star,
giving the Chinese a free hand to run the sgr and paying handsomely for that is like a bank giving me a loan to build rentals, then I give the bank free hand in collecting rent with nothing remitted to me except invoices for upkeep......and loan repayment demand. It is only a special kind of imbecile who would sign such an agreement........or a very greedy and compromised one. Goodnight
A good example happened last year. SGR travellers arrived at Nairobi terminal station and took the Lunatic express connection by KR to get to CBD. The train stopped somewhere in Eastland's industrial area. 20 mins later no movement. Why? One train has missed its stop in Embakasi and they don't know where it is. They were calling the driver on his phone but he is mteja. They stopped all trains on the track until he is found. 2 hrs later no news, people got out to walk with luggages until they get to a road and hope kuna matatu. They were happy this same KR people weren't running the SGR. We will get there but not now. We need the staff picked to be trained and most importantly change their mindset to embrace constant discipline in doing repetitive tasks perfectly all the time and everyday.
 
#11
Nation has brainwashed alot of Kenyans with weekly hit pieces on the SGR.. If Govt and CCCC counter they are not put on the news just mention they denied. No details on what the denial was because it will show Nation did a shoddy unresearched hit piece, they cant make themselves look bad.
The 44% reduction report on revenues didn't make sense and the source of their story KNBS didn't show what they said.
Its common sense to start a local company to run the sgr for the next 5 yrs, If KCB went to uganda it will be form KCB uganda there, same to Airtel Kenya, Cocacola Kenya , Jambojet under KQ to run cheap flights e.t.c all with separate management. But Nation claims is a scam, the records of who are the shareholders was easy enough for Robert Alai to get but Nation media couldn't do a search.
Someone is really paying Nation media bills that they have sold their souls to report whatever false hoods the mysterious people behind the stories pay.
 

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