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Satchu's Rich Wrap-Up
Wednesday 20th of February 2013

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0930-1500 KENYA TIME
Normal Board - The Whole shebang
Prompt Board Next day settlement
Expert Board All you need re an Individual stock.

The Latest Daily PodCast can be found here on the Front Page of the site

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With Thanks to @JohnGithongo #Mindspeak Twitpic

@JohnGithongo at #Mindspeak You must vote we all have a stake Twitpic

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A Look at EABL's H1 Earnings The Star

Macro Thoughts

Home Thoughts

The hundred-mile drive along the Costa del Sol, from Málaga to Tarifa,
suggests a fireless apocalypse Photo Booth

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“The real danger is the state becoming the ultimate digital stalker of anybody it wishes to target, track, monitor and surveil''
Law & Politics

Pakistan President Asif Ali Zardari has formally handed over the
country's prized port at Gwadar to China Asia Times

Pakistan President Asif Ali Zardari has formally handed over the
country's prized port at Gwadar to China. Simultaneously, China
becomes the builder, financer and operator of the Arabian Sea port
near the Strait of Hormuz, through which more than half of the oil
imports for the the second-largest economy after the United States now

State-run China Overseas Port Holdings Limited will purchase all the
shares in Gwadar Port from the Port of Singapore Authority (PSA) and
its local partners under a deal approved by Pakistani government on
January 30. PSA sold 60% of shares in the the port, while Aqeel Kareem
Dedhi (AKD) Group and the National Logistic Cell (NCL) controlled by
the Pakistani army sold their 20% stakes.

"Handing over of the operation of Gwadar Port to China is
manifestation of our growing ties and also shows the trust Pakistan
has in the Chinese ability to deliver on our infrastructure projects,"
Associated Press of Pakistan (APP) reported Zardari as saying. "We are
seeking to expand our existing areas of cooperation and exploring new
avenues for fruitful collaboration."

China is taking over the building of infrastructure that the Pakistan
has not yet completed, with the port lacking crucial road and rail
connectivity in Pakistan and north to Central Asia's booming economies
and overland to China.

"Beijing has agreed to spend hundreds of millions of dollars to finish
a 900-kilometer (550-mile) road that would link the port with
Pakistan's north-south Indus Highway, facilitating overland transport
from Gwadar to China," a senior Pakistani official was quoted by
Associated Press as saying. Pakistan was supposed to complete the road
last year but has only completed 60% of the work.

China given contract to operate Gwadar port DAWN

President Asif Ali Zardari witnessing the agreement signing between
Port of Singapore Authority and China Overseas Port Holding Company
Limited at Aiwan-e-Sadr. — Online Photo

The government on Monday formally awarded a multi-billion dollars
contract for construction and operation of Gwadar Port to China with
the hope that the port’s development would open up new vistas of
progress in Pakistan, particularly Balochistan.Under the contract, the
port which will remain the property of Pakistan will be operated by
the state-run Chinese firm — China Overseas Port Holding Company
(COPHC). Earlier, the contract was given to the Port of Singapore
Authority (PSA).

The contract signing ceremony held in the Presidency was attended by
President Asif Ali Zardari, Chinese Ambassador Liu Jian, some federal
ministers, members of parliament and senior government officials.

“The ceremony was actually held to mark the transfer of the concession
agreement from the PSA (Port of Singapore Authority) to the COPHC,”
said the president’s spokesman Farhatullah Babar.


This is a Break Out Move by China and cuts through the Encirclement.

The Snake @Aiww @Hirshhorn Twitpic

India "concerned" by China role in Pakistan port

BANGALORE, Feb 6 (Reuters) - China's role in operating a strategically
important port in Pakistan is a matter of concern for India, its
defence minister said on Wednesday, as New Delhi and Beijing jostle
for influence in the region.

Indian policy-makers have long been wary of a string of strategically
located ports being built by Chinese companies in its neighbourhood,
as India beefs up its military clout to compete with its Asian rival.

Management of Gwadar port, around 600 km (370 miles) from Karachi and
close to Pakistan's border with Iran, was handed over to state-run
Chinese Overseas Port Holdings last week after previously being
managed by Singapore's PSA International.

"It is a matter of concern to us," Indian Defence Minister A.K. Antony
told reporters when asked about Chinese control of the port.

When complete, the port, which is close to the Strait of Hormuz, a key
oil shipping lane, is seen opening up an energy and trade corridor
from the Gulf, across Pakistan to western China, and could be used by
the Chinese Navy, analysts say.

"It will enable (China) to deploy military capability in the region,"
said Jay Ranade, of the Centre for Air Power Studies and a former
additional secretary at the government of India. "Having control of
Gwadar, China is basically getting an entry into the Arabian Sea and
the Gulf."

China has also funded ports in Hambantota, Sri Lanka, and Chittagong
in Bangladesh, both India's neighbours.

"Gwadar is a more serious development than the others," Ranade said,
as the Pakistani port gives China base facilities.

A Pakistani foreign ministry official told Reuters that the port was
none of India's business.

"India has no concern with whoever Pakistan decides to work with on
Gwadar," said the official, who declined to be identified. "We first
had a deal with Singapore but that didn't work out as desired.
Singapore's PSA International and the Chinese have settled the deal."

Indian Ocean Obama’s Geopolitical China ‘Pivot’

Former Pentagon adviser Robert D. Kaplan, now with Stratfor, has noted
that the Indian Ocean is becoming the world’s “strategic center of
gravity” and who controls that center, controls Eurasia, including

The Indian Ocean is crowned by what some call an Islamic Arch of
countries stretching from East Africa to Indonesia by way of the
Persian Gulf countries and Central Asia. The emergence of China and
other much smaller Asian powers over the past two decades since the
end of the Cold war has challenged US hegemony over the Indian Ocean
for the first time since the beginning of the Cold War. Especially in
the past years as American economic influence has precipitously
declined globally and that of China has risen spectacularly, the
Pentagon has begun to rethink its strategic presence in the Indian
Ocean. The Obama ‘Asian Pivot’ is centered on asserting decisive
Pentagon control over the sea lanes of the Indian Ocean and the waters
of the South China Sea.

Great Power Competition in the Indian Ocean

Iran to establish naval base near Gwadar

TEHRAN: The Iranian Navy is establishing a new naval base on its coast
of the Gulf of Oman. The location is Pasabandar, near Iran's border
with Pakistan, reported Fars news agency.

 The move came as Pakistan prepared to sign an agreement with a
Chinese firm to hand over the control of Gwadar Port. "The naval base
which is under-construction is located in our country's far east
coasts in the Gwatr Gulf along the borders with Pakistan," Iranian
Navy Commander Rear Admiral Habibollah Sayyari said on Sunday.

read more

Greetings from somewhere on the Indian Ocean Twitpic
Law & Politics

Sunset Maputo Harbour Mozambique #Africa Indian Ocean Twitpic

Indian pays for Iran oil in rupees, Turkey route halted: sources Yahoo News

NEW DELHI (Reuters) - India is now paying Iran only in rupees for its
oil after it lost another payment route in euros due to tougher
sanctions from February 6, sources at local refiners said, leaving
Tehran struggling to use the tightly-restricted Indian currency.

The rupee is only partly convertible, limiting its international
acceptability, although Iran can use the currency to buy
non-sanctioned goods and services from India.

Turkey's Halkbank had been handling payments for Iranian oil in euros
from India since July 2011 after other conduits were choked by earlier
sanctions, but the latest U.S. measures effectively prevent this,
bankers said.

India is Iran's second-biggest client after China but, the world's
fourth-largest oil importer India has been reducing imports and so
secured a waiver from earlier sanctions that would have impeded its
access to global banking networks.

The European Union and United States are using sanctions to force Iran
to curb its disputed nuclear program, which the West believes is aimed
at making a bomb but Iran says is for civilian use.
Sources at two Indian refiners said they received an email from
Halkbank on February 5 that it will not be able to handle Iranian oil
payments from February 6.

"We will not be able to execute your general instructions issued in
July 2011 from the date of February 6, 2013," said one of the sources,
reading out the letter sent by Halkbank.

The second source confirmed receiving a one-sentence email from
Halkbank. "Halkbank is history now," he said.

The tighter U.S. sanctions are also killing off Turkey's own
gold-for-gas trade with Iran.

India had been paying through Halkbank for about 45 percent of its
massive Iranian oil bill since April 2012 with the rest in rupees. The
two nations had been trying to find goods for Iran to buy from India,
to smooth a huge trade imbalance.

India's total exports to Iran in April-September 2012 amounted to $1.4
billion, a quarter of the value of its imports from Iran during the
period, according to Indian government data.

There have been several visits by trade delegations to try to boost
exports from India, especially of foodstuffs which are not prohibited
under sanctions, but few deals have got off the ground. Iran has
bought sugar from India but attempts to sell wheat to Tehran have
faced quality issues.

The two sides have yet to find another way to settle their oil trade
and Indian refiners are currently retaining 55 percent of their
payments to Tehran.

"In this kind of scenario, do you think it is easy to find out a new
payment mechanism?" asked the first source.

HPCL-Mittal Energy Ltd (HMEL), part-owned by steel tycoon Lakshmi
Mittal may now be able to clear its dues in rupees, built up after
India said it could only pay 45 percent in rupees and Halkbank refused
to open a euro account for the private refiner.

HMEL bought a total 4 million barrels of oil from Iran between
September and October 2012.

India plans to reduce imports from Iran by another 10-15 percent in
the next contract year starting April 1, sources have said.

In the first nine months of the contract year 2012/13, India imported
270,700 barrels per day from Iran, about 7.5 percent of total
purchases by the country, which depends on imports for 80 percent of
its oil needs.


The Noose has been tightened again around Khamenei's Neck.

Ayatollah Ali Khamenei FLICKR

Love and Murder: The Oscar Pistorius Case Posted by Amy Davidson

 Steenkamp was shot again and again, through the locked interior door,
in an area about three and a half by four and a half feet wide, next
to the toilet. Nel said, “She could go nowhere. It must have been

One pauses here to wonder how Pistorius had both stopped by the bed
for his gun and not at least stretched a hand out for
Steenkamp—especially since he says that he promptly screamed for her.
It is one of the uncertain points in the narrative. Pistorius claims
that even though he “screamed” for Steenkamp he got no reply, but did,
in that interval, hear “movement inside the toilet.” That, he said,
“filled me with horror and fear of an intruder or intruders being
inside the toilet.” He says he “knew I had to protect Reeva and
myself. I believed that when the intruder/s came out of the toilet we
would be in grave danger”:

    I felt trapped as my bedroom door was locked and I have limited
mobility on my stumps. I fired shots at the toilet door and shouted to
Reeva to phone the police. She did not respond and I moved backwards
out of the bathroom, keeping my eyes on the bathroom entrance.
Everything was pitch dark in the bedroom and I was still too scared to
switch on a light. Reeva was not responding. When I reached the bed, I
realised that Reeva was not in bed.

    That is when it dawned on me that it could have been Reeva who was
in the toilet.

Only then? South Africa is a dangerous country, but, surely, even in
Pistorius’s scenario, a woman might be able to slip into the bathroom
in a home in a heavily guarded walled community without dying.


It was my 6 Year Old Hannah who said to me but Dad He fired 4 Shots.

Wouldn't she be dead after one?

And I thought to myself Hannah might have a Career in Forensic Science?

Hannah Fine Dining Polana @SerenaHotels Twitpic

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Currency Markets at a Glance WSJ
International Trade

Euro 1.3420 “The euro continues to respond to the stabilization -- and
it’s no more than that -- in the euro zone,” said Imre Speizer,
Dollar Index 80.28
Japan Yen 93.28 touched 94.46 on Feb. 11, the weakest since May 2010
Swiss Franc 0.9196
Pound 1.5437
Aussie 1.0360
India Rupee 54.055
South Korea Won 1078.40
Brazil Real 1.9558 BUY THE REAL
Egypt Pound 6.7323
South Africa Rand 8.8575

The yen has weakened 15 percent in the past three months, the worst
performer among 10 developed-nation currencies tracked by Bloomberg
Correlation-Weighted Indexes. The dollar has dropped 1 percent and the
euro gained 4.1 percent.

Dollar Yen 5 day chart INO 93.239 Last

The yen resumed gains after Japanese Prime Minister Shinzo Abe said in
parliament that the need had lessened to establish a fund to buy
foreign bonds.
Japan posted a trade deficit of 1.63 trillion yen ($17.4 billion) in
January, the Ministry of Finance said in Tokyo today, the biggest
shortfall on record dating back to 1947.
djfxtrader: #BOJ Morimoto: Expect Japan Econ to Return to Moderate
Growth Path Toward Mid-2013
djfxtrader: #BOJ Morimoto: Will Carry on With Strong Easing Steps,
Including Large-Scale JGB Buying #JPY
djfxtrader: Nikkei Stock Average Touches 11,500; First Time Since Sept 2008
djfxtrader: #Japan Jan Trade Deficit Y1.629 Trillion; Expected Deficit Y1.303T
djfxtrader: #Japan Jan Exports +6.4% On Year; Expected +2.6% On Year


The Smoke Signals are becoming quite mixed.

Euro versus the Dollar 3 Month Chart 1.34241 Last

djfxtrader: ECB Asmussen: Sees Stronger 1Q Euro-Zone Econ Performance
Than Disappointing 4Q
The European Commission will probably say today that its index of
consumer confidence improved to minus 23.2 this month from minus 23.9
in January, according the median estimate of economists surveyed by
Bloomberg News. That would follow data from yesterday showing investor
confidence in Germany, the region’s biggest economy, jumped to a
three-year high.


Draghi has back stopped the Euro. The Recovery is not going to violent
but we know that.

Dollar Index 3 Month Chart INO 80.292 Last

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Malawi workers threaten to shut airport, IMF holds talks Reuters

Feb 19 (Reuters) - State workers in Malawi have told the government
and airlines they will shut the main international airport in the
capital Lilongwe on Wednesday as part of a week-long public sector

The airport closure would cut off the main air routes serviced by
Kenya Airways, South African Airways and Ethiopian Airlines.

More than 100,000 public sector workers went on strike last week
demanding a 65 percent wage increase - about double the inflation rate
- to counter a rising cost of living triggered by a devaluation of the
kwacha currency.

"We are joining the strike and are shutting down the airport," Joel
Mkandawire, a union leader, told Reuters on Tuesday.

Finance Minister Ken Lipenga said the government cannot afford to
increase wage costs and is negotiating with the striking workers.

"Currently our wage bill is 97 billion kwacha ($277 million), and if
we agree to their demands, this will almost triple to 276 billion
kwacha, which is equivalent to the whole national budget," Lipenga
told Reuters.

The strike has closed schools and paralysed major hospitals, which are
already short of health workers and pharmaceuticals.

It also has piled pressure on President Joyce Banda, who took office a
year ago and instituted painful economic reforms backed by the
International Monetary Fund and donors, whose aid traditionally
accounts for about 40 percent of the budget.

Given budgetary pressures, Tsikata said the IMF suggested tightening
expenditure controls even more, welcoming a moratorium announced in
December on government-funded travel.

It also recommended cutting or postponing non-essential spending.

The IMF said it would ask its board in late May to release the next
tranche - about $20 million - of a $156.2 million IMF loan approved in
July last year.


Joyce Banda's Honeymoon is over.

Nigerian Stock Exchange All Share Index Year To Date +18.72%

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Nestle Nigeria shares hit all-time high on dividend hopes Reuters

Feb 19 (Reuters) - Nestle Nigeria shares rose to a new all-time high
on thin volumes on Tuesday, ahead of expected full-year dividend
announcement when its 2012 earnings are released this week,
stockbrokers said.

The company, which is majority owned by Swiss food company Nestle SA
paid an interim dividend of 1.50 naira per share in December, raising
hopes of a healthy full-year payout.

The shares have risen more than 20 percent since the interim dividend
was paid 10 weeks ago, on low volumes. It traded 396,475 units on

Nestle, which is now the most expensive stock on the bourse on a per
share basis, pays out around 90 percent of its local profits as
dividends, brokers say.

It gained 5.81 percent or 50 naira to 915 naira per share, its highest
level ever on the Nigerian Stock Exchange, helping the index climb
0.25 percent to 33,335 points.

Nestle Nigeria gained 57 percent in 2012.

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Dollar versus Rand 5 Day Chart INO 8.85122 Last

Egypt Pound versus The Dollar 3 Month Chart INO 6.7279 [Been here for
quite a while]

Egypt ^EGX30 Bloomberg Year To Date +2.94%

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Uhuru Kenyatta and Raila Odinga are locked in a statistical dead-heat Nation
Kenyan Economy

According to Strategic Research, 44.4 per cent said they would vote
for Mr Odinga while 43.9 per cent said they would back Mr Kenyatta.Mr
Musalia Mudavadi of Amani coalition had the backing of 6.4 per cent of
the respondents, Mr Peter Kenneth of the Eagle coalition was backed by
2.8 per cent, while Ms Martha Karua of Narc Kenya 1.9 per cent.

Consumer Insight put the same question to voters on the same dates and
reported that 45 per cent backed Mr Odinga while Mr Kenyatta was
supported by 43 per cent.Mr Mudavadi was the choice of five per cent
of those interviewed, while Mr Kenneth got three per cent and Ms Karua
had the support of one per cent. Two per cent of those interviewed
were undecided.

Infotrak Research and Consulting reported 45.9 per cent of the voters
interviewed backed Mr Odinga, and 44.4 per cent supported Mr
Kenyatta.Mr Mudavadi was third with six per cent followed by Mr
Kenneth at 1.9 per cent, Prof Kiyiapi (0.3 per cent), Ms Karua (0.2
per cent) and Mr Dida with 0.1 per cent. Mr Muite had no significant
scores in the Infotrak poll.


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"A too-close-to-call result, and one that the loser disputes, will add complexity and uncertainty," says Aly-Khan Satchu Guardian 18th January
Kenyan Economy

"A too-close-to-call result, and one that the loser disputes, will add
complexity and uncertainty," says Aly-Khan Satchu, chief executive of
the east African financial portal Rich Management. However, he says
markets remain positive, with foreign investors driving the stock
market to new highs.

"Equity markets have been in a bull market since May last year, and
remain so," he adds. "Bond markets have been very well behaved. The
central bank stabilised the macro economy and inflation is at a record
low … It is either the calm before the storm or markets are signalling
a positive outcome around the elections."

The Prime Minister's Hat at #Nyayo Stadium #Nairobi Twitpic

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Inter-Communal Conflict since Jan 2012 Infographics via IRIN
Kenyan Economy

116,074 Displaced.

Housing Finance reports FY PAT + 19.453684% Earnings here

Par Value:                  5/-
Closing Price:           20.00
Total Shares Issued:          230000000.00
Market Capitalization:        4,600,000,000
EPS:             3.22
PE:                 6.2111

FY 2012 versus FY 2011
Loans and Advances Net to Customers 30.293711b versus 25.222836b
Total Assets 40.956577b versus 31.870916b
Customer Deposits 22.937649b versus 18.671586b +22.847%
Borrowed Funds 12.097359b versus 8.016105b +50.913%
Total Liabilities 35.819332b versus 27.153552b
Total Interest Income 5.068815b versus 3.464079b +46.325%
Total Interest Expenses 3.118780b versus 1.562517b +99.599%
Net Interest Income 1.950035b versus 1.901562b +2.549%
Total Operating Income 2.233922b versus 2.193181b
Loan Loss Provision 197.766m versus 186.297m
Gross Performing NPLs 2.331482b versus 1.579576b
Staff Costs 684.429m versus 601.450m +12.3001%
FY PBT 907.631m versus 975.795m -6.985%
Deferred Tax 190.688m versus 5.899m +3232%
FY PAT 743.334m versus 622.278m +19.453684%
FY EPS 3.22 versus 2.70 +19.259%
Final Dividend 70Cents a share
Total Dividend Pay Out 1.40 versus 1.20


FY PAT was assisted by a +3232% Increase in deferred Tax.
Trades on a PE of 6.2111 which is inexpensive.

EABL share price data and H1 Earnings Release here +4.528% 2013 [has
corrected 12.0634% lower since 13th Feb]

Par Value:                  2/-
Closing Price:           277.00
Total Shares Issued:          790774976.00
Market Capitalization:        219,044,668,352
EPS:             13.46
PE:                 20.579

EABL H1 Earnings through December 2012 versus 6 months through 2011
Net Revenue 30.633b versus 27.777b +10.28188%
Cost of Sales [16.234b] versus [14.321b] +13.358%
Gross Profit 14.399b versus 13.456b +7.008%
Selling and Distribution Costs [2.541b] versus [2.311b]
Administration Expenses [3.564b] versus [3.699b]
Other Operating Expenses [0.436b] versus [0.134b]
Profit from Operations 7.858b versus 7.312b +7.467%
Net Finance Costs [2.061b] versus [0.642b] +221%
H1 Profit Before Taxation 5.797b versus 6.670b -13.088455%
H1 Profit After Taxation 3.982b versus 4.877b -18.351445%
H1 Earnings Per Share 4.75 versus 5.55 -14.4144%
Interim Dividend 1.50 per share versus 2.50 Last Time
Cash from Operating Activities 7.424b

EABL Net sales By Geography Twitpic

KCB targets loan book growth from M-Pesa agents deal Business Daily

KCB has set aside a Sh1.5 billion war chest targeting M-Pesa agents
with unsecured loans in a deal set to boost the lender’s loan book.

Safaricom is also expected to benefit from an increase in revenues due
to higher frequency of customer transactions.

Agents of Safaricom’s mobile money transfer service M-Pesa will have
access to the credit facility, helping them to solve the perennial
float shortage problem that limits their daily transactions.

Safaricom and KCB Tuesday announced the agreement which will allow
M-Pesa agents to borrow one-year loans at any of the bank’s branches.

Safaricom chief executive Bob Collymore said the loan is expected to
reduce the number of times M-Pesa users are unable to deposit or
withdraw money due to lack of sufficient float by agents.

“Through this partnership, I believe we now have an effective solution
to the challenges around float shortages”, said Mr Collymore in a

Kenya Commercial Bank share price data here +23.529% 2013

Par Value:                  1/-
Closing Price:           36.75
Total Shares Issued:          2950170000.00
Market Capitalization:        108,418,747,500
EPS:             3.72
PE:                 9.879

KCB Group Q3 Results 2012 versus Q3 2011
Profit After Tax 9.370620b versus 6.432988b [versus 10.981046b FY] +45.665%


Kenya Commercial Bank is +23.529% in 2013 and has corrected 4.545%
since closing at 38.50 and All Time High on the 13th of this Month.

read more

@JoshuaOigara and Dr. @OduorMartinO @KCBGroup at Mindspeak RICH TV
Kenyan Economy

Safaricom share Price data here +11.881% 2013

Par Value:                  0.05/-
Closing Price:           5.65
Total Shares Issued:          40000000000.00
Market Capitalization:        226,000,000,000
EPS:             0.32
PE:                 17.656

Safaricom is +11.881% in 2013  and 5.833% below an August 2010 Intra
Day High of 6.00 reached on the 9th of January this Year.

Happy Birthday @BobCollymore cc @HCCTurner Twitpic

M-PESA The Jewel in the @Safaricomltd Crown Twitpic


Kenya Shilling versus The Dollar Live ForexPros

Nairobi All Share Bloomberg Year To Date +11.81%

Has corrected 3.141% since closing at 109.50 a Multi Year High on the
13th February.

Nairobi ^NSE20 Bloomberg Year To Date +10.11%

The NSE20 closed at a 27 Month High of 4648.09 on the 13th of February
has corrected 2.0869% since that High.

Every Listed Share can be interrogated here

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N.S.E Today

The Nairobi Securities Exchange could not snap a 5 consecutive Session
Losing Streak.
The Nairobi All Share retreated 0.93 points to close at 105.13.
The Nairobi All Share is +10.826% in 2013 but has corrected 3.9908%
since the 13th of February when it closed at a Multi Year High.
The Nairobi NSE20 fell 48.30 points to close at 4502.75.
The Nairobi NSE20 is +8.928% in 2013 but has corrected 146 points and
3.1411% since closing at a 27 month high on February 13th.
The Political Noise Levels and Interference continues to spike higher
as evidenced in comments from the Chief Justice.
The Election looks like a Statistical Dead Heat and a too close to
call Election is the least helpful outcome to the Equity Markets.
The EABL correction looks complete now.
Safaricom saw heavy Action to the Upside and swam against the Tide.
Athi River Mining set a Fresh All Time High.
There was some Disorderly Price Action today in some Counters.

N.S.E Equities - Commercial & Services

Safaricom was the most actively traded share at the Securities
Exchange and firmed 0.885% to close at 5.70. The Weighted Average was
5.74 and Safaricom was bid at 5.75 +1.77% for most of the Session.
Safaricom traded 62.303m shares worth 357.7m, which represented
44.3964% of the total Volume traded during todays Session. Safaricom
is +12.871% in 2013 and set to test its 30 Month Closing High of 5.80
reached on the 9th of January this Year. There was Heavy Buy Side
Interest showing on the Board today.

Uchumi firmed 1.028% to close at 19.65 and traded 1.077m shares worth
21.208m. Uchumi is +2.879% in 2013 and edging towards its 6+ Year
Closing High of 19.95 from the 6th of November last Year. I expect
Uchumi to cross that Level and head towards 25.00. Uchumi has
unhindered Access to the Capital Markets and is evidently seeking to
accelerate the Regional Footprint Roll Out.

Nation Media closed unchanged at 265.00 and traded 58,100 shares worth
15.45m. Nation Media is +19.909% in 2013 and just 1.85% below an All
Time Clsoing High of 270.00 reached on the 13th of February.

Access Kenya corrected 3.03% lower to close at 6.40 and traded 46,600
shares. Access Kenya is +45.454% in 2013.

Car and General was low ticked 7.69% to close at 24.00 on light
trading of 800 shares.

N.S.E Equities - Finance & Investment

Kenya Commercial Bank traded 3rd and retreated 0.68% to close at 36.50
and traded a 35.50-37.00 range and 1.647m shares worth 60.386m. Kenya
Commercial Bank was trading at 36.00 -2.04% at the Closing Bell. Kenya
Commercial Bank is +22.689% in 2013 and has corrected 5.194% since
reaching an All time Closing High of 38.50 on the 13th of February.
Kenya Commercial Bank has announced a 1.5b Kenya Shilling Facility for
M-Pesa Agents.

Equity Bank was the 4th most actively traded share at the Securities
Exchange. Equity Bank eased 0.91% to close at 27.25 and traded a
27.00-27.75 range and 2.184m shares worth 59.753m. Equity Bank is
+14.7368% in 2013.

NIC Bank was the 5th most actively traded share at the Exchange and
released its FY Earnings today. I will drill through the numbers
overnight. NIC Bank firmed 0.55% to close at 45.50 and traded 741,300
shares worth 33.746m. NIC Bank is +18.954% in 2013 and 2.67% below its
All Time Closing High of 46.75 reached on the 12th of this month.

Diamond Trust closed unchanged at 140.00 which is record Closing High.
Diamond Trust has closed at this Record Closing High on the 11th, then
on the 13th and has stayed at this level since that date. Diamond
Trust traded 224,300 shares worth 31.402m and is +21.739% in 2013.

Barclays Bank eased 0.31% to close at 16.30 and traded 1.283m shares
worth 20.966m. Barclays Bank is supported by the Final Dividend Pay
Out of 70 cents which is worth 4.2944% of Yield. Barclays Bank trades
on a PE 10.12 which is also inexpensive and supportive of the Price.

Standard Chartered eased 1.4466% to close at 272.00 and traded 51,700
shares worth 14.103m.
COOP Bank closed unchanged at 13.30 and traded 773,600 shares worth 10.304m.

Housing Finance released FY Results after the Market closed yesterday.
HFCK reported a  FY PBT reduction of -6.985% to 907.631m,  a Deferred
Tax Credit of 190.688m +3232% versus the Previous Full Year Reporting
Period, which helped achieve a 19.453684% Increase in FY PAT to
743.334m. HFCK reported a 19.259% increase in FY Earnings Per Share to
3.22. HFCK is paying a Final Dividend of 70 cents a share. Housing
Finance had rallied 29.44% since the start of the Year through this
morning before correcting 2.75% today to close at 19.45. HFCK traded
an 18.00-19.55 range and 229,300 shares. HFCK was trading at 19.00
-5.00% at the Closing Bell. HFCK's Frank Ireri told Bloomberg that
they plan to increase the Number of Outlets to 40 by 2016 from 13 now
and plans to recruit Agents mainly from the Construction Industry. The
Final Dividend is worth 3.598% of Yield.

Centum retreated 7.77% to close at 13.65 and traded 49,400 shares.

N.S.E Equities - Industrial & Allied

EABL traded 2nd at the Exchange and retreated 1.44% to close at
273.00. EABL traded a 272.00-275.00 range and 399,000 shares worth
108.956m. EABL released H1 Earnings Friday last week, where it
reported that H1 Net Revenue increased  +10.28188% to 30.633b, Gross
Profit increased  +7.008% to 14.399b, H1 Profit from Operations
expanded +7.467% to 7.858b, H1 Profit Before Taxation decreased
-13.088455% to 5.797b. The Headline Numbers were a Catalyst for the
Profit Takers to step in after a parabolic Run which had seen The
Price Rally +18.8679% since the start of the Year through the 13th of
February. Since the 13th of February through today EABL has corrected
13.333% off that Record Closing High. Today Solid Buy Side was seen on
the Board and confirms that the Draw Down is complete. There was Buy
Side Demand for 167% more shares than were traded during the Session
at the Finish Line. EABL remains +3.0188% in 2013.

Athi River Mining firmed 1.665% to close at 61.00 and set a Fresh
Record Closing High. ARM is +36.77% in 2013. ARM traded 107,000

Athi River Mining share price data here +36.77% 2013

Bamburi Cement was knocked back 7.27% to close at 204.00 and traded

Kenya Power KPLC retreated 1.388% to close at 17.75 and traded a
17.30-18.05 range and 929,600 shares worth 16.53m. KPLC is +3.801% in
KenGen eased 0.85% to close at 11.65 and traded 116,500 shares. There
was Sell Side Supply of 653% more shares than were traded at the
Closing Bell. KenGen remains +32.386% in 2013 but has corrected
15.272% since closing at a 2013 High of 13.75 on the 18th of January.

kenolKobil was knocked back 4.379% to close at 13.10 on just 20,500
shares traded.

Mumias Sugar took a 3.03% hit and closed at 4.80 and traded 733,400 shares.

by Aly Khan Satchu (www.rich.co.ke)
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February 2013

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