Tuesday, February 19, 2008

KQ, minted stockbrockers, REITS

It doesn't rain, it pours is apparently KQ's new mission statement. OK, things have been tough because of the political quagmire, lakini, its managed to lose practically its top management with no CFO; HR director(i hear there was a change); commercial director; no flights manager; no technical director. Do they all know something that we don't? Now even Paris flights are a
are likely losing it money. I have posted before on its pre-crisis issues. I passionately believe in KQ, but we now need a change of leadership, because that is where
the buck stops. Let it get someone who can steer it through the next year operationally so it'll be ready as the economy takes off.
For every Francis Thuo and Nyaga stockbrokers, there is a D&B and CFC, two brokers that though not on the straight and narrow take home some serious revenue from buying and selling yours and my shares. Stockbroking should be the one business in Kenya that should bankable year on year if you don't do anything stupid. Truly, IF is a big word.
It’s pleasantly surprising to see that Rutleys still plans to go ahead with its property fund and may even list as a REIT
if and when CMA wakes up from its slumber and decides to allow them. Bora Capital another property fund venture has gone quite despite interest from
many including in the Diaspora.


Ssembonge said...

It's sad to see KQ go down the drain again. They had one of the most successful turnaround but high oil prices and now post election violence did them in.

I still have my KQ IPO shares for all their worth. I opened an CDS account with Apex and I hope they will not fiddle with my account in my absence. I'm told they sent statements to my Kenyan address but no one has opened them to check them.

MainaT said...

Ssem, take your profits why you stil can. I'll buy them of you for Ksh30-which Is till consider to be throwaway money on KQ.
Are you and have yo been able to check your online account with Apex? If they don't have one, move to a broke who has online accounting. its importnant that no matter what your holdings are, you keep them visible.

Ssembonge said...

Maina, I wish I could tell you that I am intersted in NSE but I'm not. For some strange reason, I've tuned out to NSE. Honestly, I might as well give out those shares. It beats me that I didn't sell when I was there in the summer.