Tmoni:

@ the gurus,
i finally sent the buy order and my broker is asking why do u want to buy WEMA BANK, shes never questioned my order before,

food for thought

Answer now!!!!! Speculative purposes I guess!!! Turn the question around and ask your Broker why not??

WEMA is so risky but if the permutations are right, you may be on to a goldmine.


With all due respect, some brokers (account officers) are just clueless!!!!!!

I know I broker that I prepare BUY list to send to her clients!!!!

wanaj0:


I know I broker that I prepare BUY list to send to her clients!!!!

You prepare a buy list for a stockbroker? OMG!!! Too funny

Japaul Oil offers opens on  September 24, and closes on October 31, 2007 at N3.95k per share, right issue at N3.00 per share.  So begain to gather your dollars together oo!!.   Info from todays guardian page 16.

@ SHIGIDI

Afri bank registrars is at No 2 gbagada road, the building is beside guardian express opposite Anthony Busstop

LATEST ON INSURANCE COYS

Insurers to get capitalisation funds this week 19/9/2007


By Chuks Okonta Finance Repoter

BARRING the unexpected, the names of insurance companies which cleared the recapitalisation hurdle will be released this week.

The N201 billion raised during the exercise may also be released to their owners in the next 48 hours.

But not all the 71 companies now operating with provisional certificates are likely to remain in business.

Two of them – A & S Life Assurance Limited and Fortune Assurance Plc – are said to have been disqualified by a technical committee which reviewed the exercise.

The curtain were lowered on the exercise on February 28.

The committee, headed by the chairman of Niger Insurance Plc, Alhaji Bala Zakariya’u, recommended the liquidation of the two companies, one of which allegedly consummated a merger deal without consulting its shareholders.

The other was said to have defaulted in the remittance of its recapitalization funds which it claimed was denominated in foreign currency.

Apart from the two, 67 others, excluding the reinsurance firms, were asked to collapse into 45 composite underwriters.

Insurance Commissioner, Mr Fola Daniel said at an insurance professionals forum in Abeokuta, the Ogun State capital last week that the list of the successful insurers would be released this week.

He said within 48 hours of the publication of the list, the National Insurance Commission (NAICOM) which he heads, will seek the Finance Minister’s approval for the release of the N201 billion lodged in an escrow account with the Central Bank of Nigeria (CBN).

The Zakariya’u panel was said to have recommended that insurance companies should revert to composite, operations (life and general business together).

It said it could not review the documents of the National Insurance Corporation (NICON) and Global Reinsurance due to the court order taken by their owner, Mr. Jimoh Ibrahim.

The panel, however, recommended that an interim management be set up to take over the operations of NICON and Global-Re.

But, Ibrahim, Group Managing Director of NICON Group ruled out the possibility of anyone taking over the management of NICON Insurance since there is a subsisting court injunction restraining the government, the Ministry of Finance or NAICOM from setting up any interim management for the company.

Ibrahim, told journalists in Abuja last week that NICON Insurance is adequately protected by law.

He drew the attention of the Minister of State for Finance, Mr. Aderemi Babalola to a subsisting interim injunction granted by the Federal High Court sitting in Abuja restrained the Attorney General of the Federation, Finance Minister, the Bureau of Public Enterprise (BPE) and the Inspector General of Police or their agents or privies from taking over or interfering with the day to day running of NICON Insurance pending the determination of a motion on notice before it.

He said: "Let me state clearly that nobody can set up an interim management committee for NICON Insurance the reason being that we have another injunction restraining the government, Ministry of Finance or National Insurance Commission (NAICOM) from setting up any interim management in this company.

"Let me also say that nobody can take over NICON Insurance having been duly purchased by us without refunding our money to us and we have a court injunction stating that nobody can take over the running of the affairs in this place."

Ibrahim also said the interim order also restrains NAICOM from interfering with the running of the company under any guise.

Besides, he said the Finance Minister has filed an appearance on the substantive case before the court where it confirmed that NAICOM is its agent, and that the order restraining government from interfering with NICON’s business, is different from the one restraining the technical committee from taking actions against NICON Insurance.

"This order is different from the injunction secured against the technical committee. This is the first injunction that we obtained since June 1, 2007 which prevents the Federal Government, Bureau of Public Enterprise, Federal Ministry of Finance or NAICOM from interfering or taking over or disturbing the management of NICON Insurance pending the determination of the motion on notice.

"Importantly, the Ministry of Finance has put up an appearance on this matter, swearing to an affidavit where it stated that NAICOM is its parastatal and agent and by so doing, NAICOM is barred by this injunction. So all those things you are hearing about an interim management committee as far as NICON Insurance is concerned is an empty threat. It is not possible because we have a court order restraining them", Ibrahim said.

Chief Akin Olujinmi (SAN), solicitor to NICON Insurance Plc also drew the attention of the Minister of State for Finance to the subsisting court order restraining the Federal Government or any of its agencies or privies from disturbing, interfering or taking over the management of the company under any guise.

In his letter to Babalola dated September 11, 2007 titled, "Suit No FCH/ABJ/CS/373/2007 NICON Insurance Plc Vs Hon. Attorney General of the Federation and Others", Olujinmi said the order restraining the government from interfering in the day to day running of the company is yet to be vacated and advised the Minister to ensure that the interim injunction is complied with by all the parties.

"Considering that you may not have been briefed or fully briefed about the mater, we decided to bring the matter to your notice. In particular, we hereby inform you that the Federal High Court, Abuja presided over by Hon. Justice Chikere on 1st June 2007 made an order of interim injunction restraining the Hon. Minister of Finance, his agents, servants and privies and other defendants from taking over or, in any way, interfering with the management or running of the business and affairs of NICON Insurance Plc.

"The case is still pending before the Federal High Court and the order remains extant. It is imperative that you ensure due compliance with this order", Olujinmi stated.

MyPeace:

Japaul Oil offers opens on  September 24, and closes on October 31, 2007 at N3.95k per share, right issue at N3.00 per share.  So begain to gather your dollars together oo!!.   Info from todays guardian page 16.

Japaul Oil is a gud buy for those not scared of taking risks in business.

The Oil sector in Nigeria is not stable no thanks to Militant Activities in the Niger Delta!!!.

I read up there Prospectus and they are doing goood and also they have the advantage of been the only nigerian Oil Servicing Coy still operating.

But Shine Ur eyes Sha!!!

@diva4eva

the news is very welcome,
what what might happen if 201 billion is released to insurance companies, hope the managers don't run away on holidays
where did you get this information?

Please does anyone know when IBTC will come to the public market.Thanks

@tmoni

i second wanajo on this one, ask your broker "y not wema?" and if she has something to say, especially something we dont already know ,then put it up here,

i have a feeling zenith will be back in the market soon, this one their shares has drop from N67.00 about 2 months ago to about N44.00. Please guys any information.

i have not yet been told but we reached an agrement for me to reduce my exposure to the security, and increase stake in diamond,

DIAMOND is value investment,
WEMA is get rich quick

but i am too exposed to the banking sector, if a major shake-up happens in that sector, then it s all over

Tmoni:

i have not yet been told but we reached an agrement for me to reduce my exposure to the security, and increase stake in diamond,

DIAMOND is value investment,
WEMA is get rich quick

but i am too exposed to the banking sector, if a major shake-up happens in that sector, then it s all over

If you think you are too exposed, now is the time to diversify slightly into stocks that have rock solid fundamentals. BUt I really dont think anything can mess up that sector in the medium term except there is a huge recession in the country.

Gurus Please I need urgent help
I finally raised some money for Dangote Flour but I now heard that Japaul is coming into the market when Dangote is closing. Should I hold off on Dangote and buy ALL Japaul or should I split the money?? If splitting, in what ratio?
If I buy all Japaul will I smile or gnash my teeth in a years time?

Temmie 10, Easimoni, Tmoni, Windywendy, Frankiriri, Yodiyokun , Wanajo, anyone that can help over to una!!

IBTC STOCKWATCH DANGOTE FLOUR
CLICK HERE
http://www.wikifortio.com/648517/IBTC+StockWatch+September+18+2007-+Dangote+Flour.pdf

or click here

http://research.ibtc.com/reports/IBTC%20StockWatch%20September%2018%202007-%20Dangote%20Flour.pdf

it appears preferential allotment in dangote has been reduced to 20%

jst about to fill the union diagnostics form,

hope this would grow in future

@ temmie10,
got another tutorial
i hear the best way to value a companys share price(projected that is) is to use the price earnings model(the one commonly used on this forum), as well as the price to book model and find the average of both.
please do u know how to calculate using the price to book model.
i hear its a more accurate way of forecastng the price of a stock.

Good day everybody, pls i need an advice on a share am about to buy b4 taking the step it is this international brewries plc shares av been doubting the shares since av been told but i think am interested in it. please those that know about the company should tell me b4 i put my money in to plssssssssssssssssss. i have tried to gather information but have not gotten much. pls help.

funmene, dont know much bout international breweries but dont be fooled by the cheap price, if u have the prospectus, plesae let us see it on nairaland, or at least find out which drinks they produce b4 u jump into it.

@shigidi

Price to book can be misleading.
I prefer to use it either as a supplement i.e if a company has a low pe, then a low price to book, it gives further impetus to the suspiscion that it is probably undervalued.
It can also be used in rare cases like Transcorp. Price to book basically just throws more light, it is not overly indicative except price to book is less than 1 which is almost none existent on the nse.

Temmie10:

@shigidi

Price to book can be misleading.
I prefer to use it either as a supplement i.e if a company has a low pe, then a low price to book, it gives further impetus to the suspiscion that it is probably undervalued.
It can also be used in rare cases like Transcorp. Price to book basically just throws more light, it is not overly indicative except price to book is less than 1 which is almost none existent on the nse.

Not necessarily although in the case of the companies quoted on the NSE it may be almost totally irrelevant

Quantitatively P/B ratio is determined by dividing the stock price by total Assets less liabilities. It gives an idea of the multiples per unit of earnings an investor is paying if the company were to go bust today. The total assets of a company less liabilties is actually the net present value (NPV) of a company.A low P/B ratio may indicate the stock is undervalued it may also indicate there is a fundamental problem with the company. In Nigeria as Temmie10 pointed out the ratio might be irrelevant because you cant actually determine the liabilties from the financial results these companies publish. A lot of them i suspect have off-balance sheet engagements which is another of saying there is stuff not declared on the balance sheet. This would never happen in Europe or in the States where there is SOX and Basel II reporting requirements so as an answer to your question i think you should just stick with the P-E model

hello tmoni,i thought the pp 4 union diagnostics was over??can someone enlighten me pls.

making use of the time between recieving agent takes the money to the recieving bank

temmie10, thanks a bunch.
guess ill learn more on it but will stick with my price earnings model.

so conclusion buy:

wema bank stock is get rich quick stock, dats a nice one

an i'll still say NEM for insurance stock , dats another nice one

forexgiude:

so conclusion buy:

wema bank stock is get rich quick stock, that is a nice one

an i'll still say NEM for insurance stock , that is another nice one

What do you mean?

@all
I have the full prospectus but it is too large to attach to the website. If you need it, send a mail to chikamso@yahoo.com then you can forward it to others that need it.

It seems like a bad idea. No dividend for a while, huge losses, huge debt to pay, low market share. Ever heard of trophy beer. I know I  haven't.

Was invest 5K to www.rainprofit.com

Hello all, pls could someone tell me how to get the dangote form from the internet, preferbly from their official website
Would also luv to know how to get the union diagnostic pp form, from their website, if any.
Go a slight problem, don't live in Niaija, i want to download the forms from the net, fill it and send it home, the probs is, all the forms i see on the net has company names on it already, eg cashcraft, oceanic registrars .
Timony any ideas, i beg una oh!!!!! thanks everybody for ur wonderful comments.

iceman75:

Hello all, please could someone tell me how to get the dangote form from the internet, preferbly from their official website
Would also love to know how to get the union diagnostic pp form, from their website, if any.
Go a slight problem, don't live in Niaija, i want to download the forms from the net, fill it and send it home, the probs is, all the forms i see on the net has company names on it already, eg cashcraft, oceanic registrars .
Timony any ideas, i beg una oh!!!!! thanks everybody for your wonderful comments.

I am sure u wud be able to get it from www.cashcraft.com

Cheers!

Thanks for the prompt response Freelance, i really do appreciate. the probs i have is, i want to fill the form and send to my broker, he doesn't work for cashcraft, the forms on cashcraft website has CASHCRAFT PRINTED ON THEM, dont know if it's ok to fill a form that has a company's name on it and give to another company. thats why i need the official website. still shouting for HELP!!!