Monday, September 01, 2008

Monday shorts

Well, last week ended on a rather sour note for some Crown Berger shareholders. Somehow, the stock fell by 50% on Friday even its though 6 month results were flat. Ama its the old City Trust story? The wider NSE remains depressed and it looks like supply and inflation have made the market a no go area for a while. Great results from EABL. 22% is a good growth number for blue chips like it and Safcom.

After noises from many of us, NSE improved and even refreshed its website. Sadly, things are now going back to where we were. It no longer posts results and even prices to go missing. Wake up guys!

Thinking real estate? Why not Ug?

Some interesting piece on Biwott. Ati m-o-i was his teacher?

Linturi's proposed bill (riking that accent, that is what I call keeping it real) chimes with something I heard, instead of 65, why not align presidential candidacy with civil service retirement age which is currently 55yrs? Also, make sure a MP can only serve two consecutive terms (anywhere in the country)...

I had another peek at the updated vision2030. The first shocker was on page 6. The 10% annual growth rate needs to be maintained for the next 25 years i.e. from 2005...That means we've already fallen on one target. The thing about this vision is that the formulators are not my generation but old men in their 50s and 60s who most likely won't be around to pick the brickbats when its not achieved. Or the plaudits if any. Planning or forecasting or any chore requiring target-setting boils down to SMART.

Talking of target-setting and performance contracts for judges. I have just one that I think anyone who has been through the Kenyan courts would want. Just tell us you'll reduce the case backlog by 20% on a year on year basis. Dank.

Enjoy your week...


Ssembonge said...

Vision 2030 is corporate speak for doing nothing.

I'm sure you've come across such tag lines at work. At my place of work, they come up with one every 2 years. And you can be sure they never achieve the targets.

Welcome to the real world.

KIT said...

Hey KCIG, I made some inquiries on Real estate in UG from the same guys, Jomayi, and the prices are very attractive compared to Kenya when buying into the outskirts - 8-15 km from the CBD. Unfortunately, the infrastructure is not in place and planning not yet in force. Beyond that, the law does not give foreigners leeway to own land in UG unless you marry there :).

As for development, you might have to hold on to your land for a while if you intend to maximize on rentals from apartments (as it is in Kenya) because Flats/Apartments are still not yet fashionable in the urban areas like in Nairobi's Upmarket. In fact, they do Bungalows well but the sale prices are still not as lucrative as here in Kenya. The prices especially for inputs like cement are still low..... Some cement firm exports to Sudan after EAPCC (Kenyan) pulled out in 2006.

But there is hope given the GDP growth levels in UG (7-8%) so we can hold and speculate for 10 years to come. Am working on possibility using a Company to get hold there like some foreign firms who bought and developed exclusive homes for sale.

MainaT said...

Ssem: LoL. Used to work at a company where we finished budgets for the full year in MArch for that year...
Kit: My wife may have something to say about. On a serious note, the Ugandans are copying Nai very closely in terms of their construction industry. So owning a couple of plots is not a bad idea. And its easily doable.