Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,176,291 members, 7,897,402 topics. Date: Monday, 22 July 2024 at 01:25 PM

Klas's Posts

Nairaland Forum / Klas's Profile / Klas's Posts

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (of 31 pages)

Investment / Re: Nigerian Stock Exchange Market Pick Alerts by klas(m): 9:07pm On Jun 08, 2020
stcool:


I won't totally agree with paper profit...the case of FO come to play. While they had huge debt and market priced it as low as N9.00 same company did their thing and debt disappeared from the books and paid a dividend of N7.00 with stock price rising to over N300

FO accounting is still a mystery till date, how they paid that N7.00 and got to N300 per share

This is NSE... grin

Please, was this recent or before 2010 when it was AP?
Investment / Re: Nigerian Stock Exchange Market Pick Alerts by klas(m): 8:59pm On Jun 08, 2020
Mcy56:

You know, what I read here earlier was that they sold off assets to pay diamond debt, whereas diamond/access debt was a waiver.
You see what I was saying about sentiment? Nsempas are not even ready to look at what the financial book was saying at all. This doesn't look good enough.
I mentioned it sometimes ago that analysis of audited financial books have long been replaced with mere speculations, assumptions and sentiments here.

Nsempas are correct.

Note 11.3 of the financial statements gives enough information for analysis.

1.JP owed Access and Standard Chartered banks

2. The 2 banks took over some of its assets (dredgers, barges and building) at a value of N55.712b to cover the amount owed.

3. The carrying value of those assets in the books of JP before the banks took them over was N12.69b.

4. The difference between the gross value of the loans at which value the banks took over the assets less the carrying amount is N43b which JP recognised as other income.

You can see that JP lost some of its assets while the banks lost the difference between the loan amount and the assets value.

N43b other income is a paper profit as it just involved writing back the accrual for interest (now waived) which JP had been doing over the years, it is not cash backed.

JP may not even be in a position to pay 1kobo dividend unless it borrows because it has negative cash flow without receivables.

The receivable of N10.4b it reflected in the account is largely audio because subsidiary and associate members of the group owe N8.5b out of it (essentially JP owes itself). Only 686m is trade receivable.

Disclosure: I joined JP bus in 2008 (no disembarking) and without doing due diligence bought additional 1m @ 0.24k. JP should let me know its juju man. I need him

13 Likes

Education / Re: Abolarin College Oke-Ila Osun Where Everything Is Free, King Teaches There! by klas(m): 2:43pm On Jun 02, 2020
Commendable.

I thought Okworocha operates his schools on the same concept.

1 Like

Investment / Re: Nigerian Stock Exchange Market Pick Alerts by klas(m): 8:08am On Jun 02, 2020
Dileem:


The rules say T+3days to qualify right? I was able to enter the bus today. I guess I would miss out on div. Better late than never.

If you are talking about WAPCO, you missed the dividend bus by a long time not just T+3.

The AGM and payment date is 3 June 2020 but the qualification date for dividend was 30 April 2020 and the register was closed for the purpose of compiling the names of qualified shareholders for dividend between 4 and 7 May.

The date that matters if you are targeting dividend is the qualification date which is usually a trading day before the price markdown date.

1 Like

Health / Re: Top 10 Nigerian Medical Practitioners In America by klas(m): 5:38pm On May 31, 2020
DenreleDave:


She is a lady....

Of course, I know she is a woman otherwise while will they use 'she' in her citation.

The argument here is which is her first name and which is her surname.

She is NWANDO married to OLAYIWOLA
Health / Re: Top 10 Nigerian Medical Practitioners In America by klas(m): 4:51pm On May 31, 2020
DenreleDave:


Nwando Olayiwola

She is yoruba married to igbo man... Hence igbo surname... They even have two kids

Olayiwola is masculine name.
Female yoruba won't bear such.
Investment / Re: Nigerian Stock Exchange Market Pick Alerts by klas(m): 1:50pm On May 29, 2020
sellydion:
Please check trade and other payables same page 54. Probably it could help.

That is unpaid balance of previous dividend.
You can see that the figure is less than N2b, whereas the dividend deducted from retained earnings is over N13b
Investment / Re: Nigerian Stock Exchange Market Pick Alerts by klas(m): 1:21pm On May 29, 2020
ndidigood:
are u suggesting that no dividend this year?
If not make l jaa o
No wan carry laass o this 2020

I didn't say so. I only stated what is required by Accounting Standards.

Proposed dividend for the year will be stated in the Directors' statement or as a sub-note to Retained Earnings but not as a deduction from the retained earnings.

In the following year, what was approved as dividend in the previous year will then be deducted from retained earnings of that (following) year. The payment will be reflected in the Cash Flow Statement also.

You may check how this is treated in the 11Plc financial statements that was also released today.

2 Likes

Investment / Re: Nigerian Stock Exchange Market Pick Alerts by klas(m): 12:55pm On May 29, 2020
debeey87:


13.2bn extracted codedly as dividends.
N1.1 Dividend as far as I can see on page 54 of the financial

That should relate to last year (2018)

Dividends that have not been approved at the AGM can only be disclosed as an intention statement in the Notes to the Accounts but it cannot be deducted from the profits because it is not yet a liability.

Note that if it had been for this year and it is not yet paid, the corresponding entry of that deduction from retained earnings would have been stated in Creditors and Payables.

1 Like

Investment / Re: Nigerian Stock Exchange Market Pick Alerts by klas(m): 9:54pm On May 27, 2020
MrDiligence:
I asked my stockbroker to sell my Dangcem at market price which was #150 this morning only for them to sell at #135. Please is this normal?

There are 2 price conditions for selling and buying. These are MARKET and LIMIT

If you give MARKET price condition, the broker will execute your order within 10% range on either side of the ruling market price of the stock on that date.

If you give LIMIT price condition, in case of selling, the broker will not sell below the specific price you give but he can sell higher. In case of buying, he will not buy for you higher than your given price but he may buy lower.

In your case, your instruction is confusing. You apparently had LIMIT price of N150 in mind but you gave MARKET price instruction. Even without a mark down, he would be justified to sell between N135 and N165 i.e. -10% to +10% of the market price of 150.
With markdown, it could have been N121.50 to N148.5!!!
Politics / Re: Obasa Approved N40M For Feeding Less Than 40 Muslim Lawmakers - SaharaReporters by klas(m): 2:57pm On May 27, 2020
egoldman:


You need to check if the previous house spent this recklessly during their tenure.

Well, a precedence was set and the request was based on that. The originator tried to justify tha apparent increase in the amount by drawing the attention of the Speaker to increment in food prices.

We should question why such precedence was ever laid. Why should members be fed during Ramadan when they are earning salaries and the eating period is even outside office hours.
Politics / Re: Adesina: African Lender Agrees On Independent Probe Of AfDB President by klas(m): 1:56pm On May 27, 2020
The petition mentioned Chinelo Anohu Amazu (former DG Pencom) and one Ezinne as those that Adesina influenced their employment and placement on high grade.

How did they become his relatives or are all Nigerians regarded as relatives?

He was also accused of populating the place with Nigerians but Ethic committee found that USA and one African country even currently have more citizens in the bank than Nigeria despite it being the largest African shareholder

10 Likes 2 Shares

Politics / Re: Obasa Approved N40M For Feeding Less Than 40 Muslim Lawmakers - SaharaReporters by klas(m): 1:47pm On May 27, 2020
Racoon:
This is so shameful of the EFCC that this man is yet to even be invited for questioning.Of course, he belongs to the establishment.After all the Bullion van case is still gathering dust in their office.So much moral burden for the fight against corruption under the APC government


EFCC cannot act on this alone without dragging the previous Speakers of the house into it.

The paragraph 3 of that memo says "as is customary in the house" which means it had been going on before this 2018 memo and probably still happened in 2019 and this year also.
Politics / Re: Obasa Approved N40M For Feeding Less Than 40 Muslim Lawmakers - SaharaReporters by klas(m): 1:42pm On May 27, 2020
comshots:
Sahara reporters should do us a favour by revealing the identity of crooked obasa mistress.She could even be one of those Yoruba actresses.This is a man that was threatening ambode with arrest warrant over the same corruption.

They are referring to the woman that originated and signed the memo
Politics / Re: History Of Abacha’s Theft Is Being Rewritten Before Our Eyes By Farooq Kperogi by klas(m): 7:11am On May 24, 2020
DrGoodman:
And a certain "Saint " Bubu was in charge of the whole money accruing from oil sales called the PTF funds, that's where the whole money left from.

You are rewriting history too.

PTF was an equivalent of SURE-P.

It was set up to manage the proceeds of subsidy removal on fuel. It was never in charge of oil or its sales.

Compared to Sure-P, its effect was better felt especially in the north.
Investment / Re: Nigerian Stock Exchange Market Pick Alerts by klas(m): 9:06am On May 12, 2020
anjilgreat:

Has d payment date changed?, I saw 26th of May when their dividend was posted.

Originally
AGM 26th May
Payment Date 26th May.

However, this was changed because 25th & 26th May will be public holidays for Sallah.

So now
AGM 3rd June
Payment date 3rd June

Qualification date remains 30th April

1 Like 1 Share

Crime / Re: Ato, Owner Of Star Shawarma Detained By EFCC Officials In Makurdi Over N1,600 by klas(m): 2:07pm On May 07, 2020
N1,600 is below the threshold of EFCC.

By the way, how do attempt fraud? You either defraud successfully or you fail, not attempt.

They possibly picked her up for other matters (given the conditions attached to her bail) otherwise she should sue hell out of them.
Investment / Re: Nigerian Stock Exchange Market Pick Alerts by klas(m): 7:41pm On May 04, 2020
robobo:


Chief kindly bless me with the q3 (which you referred to) result


Thinkbigga:

Please any link to the said result?


http://www.nse.com.ng/Financial_NewsDocs/29884_GUINNESS_NIG_PLC_FINANCIAL_STATEMENTS_MAY_2020.pdf
Career / Re: Kafayat Sanni: Nigeria's First Female Fighter Pilot (Pictures) by klas(m): 7:09am On Apr 23, 2020
Deepthoughts:
please is this lady a NAF personnel or a USAF personnel if nigerian origin?, besides sometimes back one Blessing was also celebrated as been a first female pilot,I think she was said to have even gotten involved in a Boko Haram bombing mission way back, please can anyone knowledgeable offer clarifications.

She is a NAF personnel.

She was trained in NAF Kaduna and emerged best graduating student in 2017.

She was sent for further training in USA in 2018 and has since returned to Nigeria.

4 Likes 1 Share

Politics / Re: President Buhari's Tribute To Abba Kyari by klas(m): 9:44pm On Apr 18, 2020
Esteejay4u:


Please I hate confusion o. In some other news Abba is 81yrs and now I'm hearing 67yrs.
Are you people sure you truly know this man?

If the man was 81 at death, that means he got his first degree in 1980 at 42 years and another bachelor degree in law in 1983 at 45 years!

Also note that he was a classmate of Femi Fani Kayode in Cambridge where he got law degree and both started their working career as lawyer in 1983 in the law firm of Femi's father. Did he start working at the age of 45?

The president is right.

2 Likes 1 Share

Health / Re: COVID-19: Ibrahim Shetima Tests Positive Again by klas(m): 9:07am On Apr 08, 2020
NaijaRoyalty:


Oga shut up

https://t.guardian.ng/news/uch-cmd-tests-negative-for-covid-19/

He tested negative some days back read the link



Chairman of UCH and Chief Medical Director of UCH are not the same thing.

One is a politician, northerner and on a part-time administrative work by name Shettima. The other is a doctor, southerner and on a full time medical work by name Otegbayo.

How do they relate?

Chairman tested positive twice and is still on admission while the CMD tested positive first then negative and was discharged

2 Likes

Investment / Re: Nigerian Stock Exchange Market Pick Alerts by klas(m): 7:38pm On Apr 05, 2020
ositadima1:


Nawao, don't sell o. I understand that you have only lost when you exit your position, if paper gain is a thing then paper loss is also a thing.

There are some paper loss that are as good as realised loss in terms of permanence sha.

Those that bought IPOs of Transcorp, Japaul and VeritasKapital Assurance 12 years ago can attest grin
Health / Re: How Spanish Flu Killed 500,000 Nigerians 102 Years Ago by klas(m): 2:38pm On Apr 01, 2020
Evaromantik:
So Onitsha was the second most populated city after Kano.

Until it was stripped of everything but it's market after the war.

City still thriving!

Unless we have further information on how many provinces there were and their coverage, then, such conclusion may be debatable.

Note that only 2 provinces - Onitsha and Owerri were the listed provinces in the present day south-east region. Were there others or these two constitute the entire SE region?

Ibadan was not listed? Was it a province then but not listed or its population was subsumed in the listed Oyo or Abeokuta provinces which were the only 2 provinces listed for present day southwest?

1 Like

Politics / Re: Street Shops Not Included In Markets Shutdowns – Police by klas(m): 6:57am On Mar 31, 2020
wirinet:
False information. Oga seun close this thread as it is very misleading, and might make people go out and be harmed by security forces.

The commander in chief of the Nigerian armed forces gave an order, and someone is talking about the views of the spokesman of the Lagos State Police command. Besides, this advice was given during the movement restrictions imposed by the Lagos State Government, before the total lock down by the Federal government.

If in doubt read numbers 34 to 36 of the president's soeech;


Read again " heads of security and intelligence agencies have also been briefed". Challenged the army at your own risk. They would use you to do "for example" and we all will learn from your experience.

The Police statement was issued when Lagos state governor initially shut down open markets. It doesn't apply to the total shutdown declared by the president.
Politics / Re: Some Legislators Refusing Screening At Airport – FG by klas(m): 1:40pm On Mar 23, 2020
alsudan:
The dullard in Chief should lead by example like other world leaders like Trump, Pence, Trudeau etc, and subject himself to Covik one nine birus test.

Lies exposed

3 Likes

Politics / Re: Senate Proposes Amendment To Immunity For Vice-Presidents, Governors And Others by klas(m): 2:06pm On Mar 09, 2020
Arrant nonsense.

Where does Omo-Agege hope to get 24 state governments to support this constitutional amendment that is patently skewed against the governors?

1 Like

Culture / Re: Emir Dantoro Suspends Officials For Allowing Fulani Herdsmen Enter Communities by klas(m): 1:57pm On Mar 09, 2020
Why is Jagaban of Borgu not among?
He is a defender of herdsmen

"Where are the cows?"

2 Likes

Politics / Re: ThisDay Suspends Staff Over Oyedepo US Visa Report by klas(m): 4:46pm On Feb 04, 2020
Daviddson:
I don't even seem to understand how the story found its way into their website with such details. Are they saying the correspondent sat down to concoct that story and an editor gave a green light to have it published or a hacker logged in to their website and planted the story there?

Not necessarily concocted.

They could have been given as exclusive story by an insider either in the embassy or in Winners.

They would think they had caught a big fish especially if previous stories from the same source were genuine, not knowing they were sold fake this time around.

1 Like

Politics / Re: 9 Imo State Assembly Lawmakers Defect To APC by klas(m): 6:25pm On Jan 21, 2020
oyinkel:
If the events leading to Biafra were to happen in our political climate of today, Ojukwu would have been betrayed for less than a morsel of bread.

The Northern have perfected the game of divide and rule since the beginning of our nationhood.


Why blame northerners instead of your state politicians that lack principle?

In Bauchi and Sokoto states, APC dominates the 2 houses of assembly but they have PDP governors.
Nobody decamped in the two states.

PDP has just been robbed in Imo, many are jumping ship within hours.

3 Likes

Business / Re: Aliko Dangote Plans U.S. Office To Help Diversify Wealth by klas(m): 3:41pm On Jan 09, 2020
soberdrunk:
$4.9 billion dollars in 2019, even if he paid a 1% tax(which is impossible) that is $49million dollars =#17.64 BILLION naira from only one man, Oga Tunde Fowler has questions to answer........... angry angry

Wealth is not profit. Tax is payable on profit not value.

The wealth attributed to him is from valuations of his companies. It doesn’t mean that the companies made $4.9 billon profit in 2019.
You read there that the turnover (not profit) of his biggest company was $2.5 billion in 2019. The profit thereon must be significantly less than that after deducting costs.

5 Likes 2 Shares

Crime / Re: Robbers Trapped Inside Abuja Bank As Police And Soldiers Block Off The Entrance by klas(m): 5:03pm On Dec 28, 2019
Litmus:
incidentally, i'd hoped Abuja had some sort of building aestheticism and structure standards or is this bank a rogue ghetto sett-up? (it is that disappointingly poor looking and indicative of paucity of ambition on some authorities part) thought Abuja was going to stand for excellence and example of the pleasant affects of planning...

That place is Mpape. A squalor sort of and most of the buildings are not approved.

There have been series of demolition notices but government always bucked at the last moment
Car Talk / Re: Signs Of A Bad Catalytic Converter by klas(m): 6:46pm On Dec 14, 2019
Dottore:

120k for 3 different cars?

No. One.
Most 6 cylinder engine (V6) cars require 3 catalytic converters. 2 in the two ports that join the exhaust to the engine and 1 in the middle port of the exhaust.

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (of 31 pages)

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 78
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.