Kplc doesn’t own stima sacco or stima investment sacco. Very different company old friend
Hujatupea full story so we will respond based on assumptions. You see the idea behind investment vehicles like the one you are bitching about is not primarily to give a dividend but afford you a safe, cost effective investment vehicle I.e cheap and clean land. Unlike Saccos, the biggest dividend you will get is cheap land. Anything above that ni sawa na kutoa pesa kwa mfuko wa left uweke kwa wa right. The only way they will.pay you a dividend is to price the plots and houses at market or above market prices to return a profit capable of paying a dividend.
I stand corrected. Mind inboxing me the financial statements nichambue?
Here’s a statement from 2017 when the rain started beating them. 2017 dividends were only 3% from highs of 17% in previous years. 2018 was dismal too although can’t seem to find the statement. If you have time it’s best to go to their offices at Stima plaza and have a chat with them. Their underperforming portfolio is strong evidence that the buroti maguta bubble has severely deflated. Safaricom Investments is also struggling to offload their plots.
http://stimainvestment.co.ke/images/downloads/StimaAnnualFinancialReport2017.pdf
So it is not a phenomena specific or unique to stima investment? Then peasants should stop whining for their fucked up investment decisions. Kama uliwekeza bila kufanya due diligence, kubali matokeo kama wengine.
Something weird is going on in the real estate market. For example prime properties at reasonable prices are being advertised for weeks on end without any serious buyers. That’s very unusual. Meanwhile, land buying companies are putting on a brave face but their accounts are in the red. Optiven also with several troubled portfolios.
I believe looking forward to the 2021 referendum and 2022 elections, it will continue being a buyers market. Anyone with plans to buy, hold off for now. Cash buyers will get whatever they want at rock bottom prices in the near future.
Nothing weird. Tough anti money laundering laws in place. Market now correcting itself
You are well versed purple
Wacha kujifanya chuck Norris hapa. Useless
Ulitombwa na Stima Investment juu ya ujinga wako. Understand the business and the industry. Those ninjas were out to buy overpriced land in the Bundus but wewe ng’ombe ukaingia box on the strength vague promises of high returns. Kubali matokeo. Ya wanaume hupotelea kwingi.
Don’t kick a man when he is down brother. Where is your brothers code? Wewe tu ndio unanitusi Sawa tu.
sisi wengine tunajua Huna akili, that’s why we ain’t bothering na ujinga wako,chieth madoung
My layman analysis is as follow:-
[ol]
[li]The company is heavily indebted,[/li][li]The operating cash flows are negative to the extreme. For them to turn a profit of 66m, that would call for extraordinary recognition of unrealised revenue thus creative accounting is at play,[/li][li]Some expenses are wrongly capitalised to boost reported profits,[/li][li]Inventory levels are unsustainable,[/li][li]The auditor is a clown,[/li][li]The company is borrowing from Peter to pay Paul,[/li][li]You is fucked for a few years to come,[/li][li]Nimechoka kutype.[/li][/ol]
Sante
Ghasier .Wakanyama tukienda shule ya gumbaru naweza kukushinda mbaya sana
yeah I agree okiya. Not forgeting aggressive sealing of loopholes used to propagate corruption at the county level.
My sacco is experiencing more issues. Embezzlement, wrangles, losses and rumor has it that it will be acquired by a certain bank. It has stopped issuing new loans. We don’t know our position if the acquisition materialises
Is this land the so called juja farm? Some one was rooting it as a good shamba
No it’s not juja farm. These plots are closer to Thika Road than the proposed greater eastern bypass road. Selling at ~1 million for a 50 x 100.
I can’t think of a way a bank can acquire a sacco. It doesn’t make any sense. What happens if upon acquisition, fuckers decide to withdraw enmass?