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Transcorp Board Reconstituted: Are They Ready To Fly? - Business - Nairaland

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Transcorp Board Reconstituted: Are They Ready To Fly? by damoche07(m): 3:38pm On Oct 03, 2007
Tis no longer News that Transcorp's board has been reconstituted.People like Chika Mordi,Olorogun Oterga Emehor et al are now on board.

Is this the beginning of good times for the company?

Did the people who sold there shares make a mistake?

How advisable is it to hold on to Transcorp shares?
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by egoldman(m): 4:57pm On Oct 03, 2007
With the assets they bought , there is no doubt that they would turn the company around , the thing is when would that happen ? or is it happening already ?
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by egoldman(m): 7:22am On Oct 05, 2007
The free fall of the share price of this mega conglomerate has not taken the shine off its inherent potentials. It takes an investor with a long term view to reap from company’s goldmine, Chinedu Dike writes.
Many investors are finding contrarian investing an attractive option. It is an investing approach that tugs at the opposite side of the capital market. The contrarian investor heads south when the market is heading north and vice versa. He takes the exit in a bubbling market and enters when the market is on the roller coaster down the hill.

Contrarian investors not only target a bearish market, but also look for stocks that are flat and out.

Under the prevailing slide in the Nigerian capital market, there are so many stocks that are ready for the takes by investors whose strategy is to move against the market. Transnational Corporation of Nigeria (Transcorp) Plc stands out among these stocks.

From a post IPO price of N9.70, the stock has maintained a steady fall of over 50 per cent to N4.70 as at Monday September 24, 2007. And there appears to be no end to the fall.

While this slide is giving some investors nightmares, for others, it is an opportunity to reap huge returns in future. For the latter group, the right move is to mop up as many shares of Transcorp as possible now.

Listing

The admission of the company into the official list of the Nigerian Stock Exchange (NSE) marked a watershed in the life of the multi-billion naira corporation.

The company listed a total of 18.554 billion shares at N6.0 per share, thereby boosting the total market capitalization by N111 billion.

Bernard Longe, the immediate past managing director and chief executive, said the pricing of the stock at N6.00 was a way of enabling Nigerians of all income levels to buy into the company.

Prior to its IPO, about 3,000 Nigerians and organizations were said to hold stakes in the corporation. This figure expectedly grew significantly following the conclusion of its IPO.

Longe also disclosed that about N50 billion would be invested by the company in the oil and gas sector, while there would be strong focus in the telecom sector, with the objective of revitalizing Nitel and in particular, M-tel the mobile telecom arm. The focus now is not on re-branding the acquired companies, but to make sure that they are revitalized, restructured and performing at optimal levels.

Price movement

Since its listing, the price movement of Transcorp stock has not been encouraging. The mega conglomerate on November 18, 2006, listed 18.554 billion ordinary shares of 50kobo each on the floor of the Exchange at N6.00 per share. The market price started climbing even as observers said there was no justification for such price rise.

From a listing price of N6.00, the stock shot to a high of N9.71 per share.

The listing was a prelude to the company’s initial public offering (IPO) which opened Wednesday, December 27, 2006. It was scheduled to close Wednesday, January 31, 2007 but was extended by two weeks to close February 14, 2007.

During the offer period, the price of Transcorp’s share stagnated at N9.71 per share, a discount of N2.71 compared to the offer price of N7.00 per share.

Following the conclusion of the offer, the Stock Exchange accordingly lifted the suspension on the price of Transcorp on Friday, March 2, 2007. On that same day, the stock lost 94kobo to close the day at N8.77 per share. At the close of trade in the new week, Monday, March 5, the stock dipped further by 44kobo to close at N8.34.

In a rather curious manner, the authorities at the Stock Exchange slammed another technical suspension on the stock at the price of N8.34. The explanation was that it should not have lifted the suspension on the stock March 02, as the receiving agents to the offer were yet to make returns to the issuing houses.

Another curious development was observed a month later on April 5, when the suspension was again lifted, and the price fell to N7.93 after losing 41kobo from the one month suspended price of N8.34.

Perhaps the most intriguing development occurred on April 11 when the Exchange placed the stock on another technical suspension, and this time on the pre-offer price of N9.71 as against the market price of N7.93.

Transcopr’s IPO was listed at N6.00 even as its price was at N9.73. For the past one month, the stock has maintained a free fall in price closing at N4.41 as at September 24, 2007.

Investments

Transcorp is the core investor in the Transcorp Hilton Hotel. It recently assumed the management of Nitel Ltd and its mobile subsidiary, M-tel, in which it won the right to acquire 75 percent equity.

These mega acquisitions illustrate Transcorp’s ability and strategy of rapid growth and expansion.

The organization said its intention is to pursue business with rigorous adherence to the finest traditions of ethical and social responsible business conduct.

Strategic restructuring

Transcorp plc said its mobile telecommunications subsidiary, Mtel, will roll out service in 22 cities over the next nine months. Tom Iseghohi, group managing director of the mega conglomerate announced this recently as he gave a brief on the activities of the company since he took over the management of the corporation.

He said services on the Nitel landlines have significantly improved as the lines are now powered by a fibre optic loop that connects Lagos and Abuja .

"The landlines are now functioning perfectly in the Abuja areas such as the embassies and other customers that are serviced by the network. In the next few months, our plan is to put Lagos , Kaduna , and Enugu on the fibre optic network so that the consumers in those areas will begin to enjoy good services."

Contrary to earlier reports, Iseghohi said Transcorp is partnering with a United States telecommunications firm for technical assistance to drive the operations of Nitel and Mtel. He said the technical partner will be announced in the next three weeks and negotiations are going on with other technical partners in South Africa , and Mexico , with the overall objective of helping to transform the telecom industry in the country.

Speaking on the potentials of Transcorp/Nitel, the corporate turnaround strategist said Nitel remains one of the biggest assets of Transcorp. "Nitel is connected to the SAT 3 fibre optics network, and the fibre optic is the only backbone that connects to the rest of the world. It is very stable and reliable, as against the satellite powered network on which the existing mobile telecommunications systems run."

He explained that Nitel through the SAT 3 network will be able to deliver cable TV services, stable internet access and more via the landlines. "With the system, one Nitel landline will give you access to cable TV in all your rooms as against the current system where you have to pay for every TV point using the satellite system."

New management

Iseghohi said another focus of his management is to attract top grade talents to drive the operations of Transcorp. In line with this resolve, he introduced two turnaround specialists with financial expertise and vast experience in corporate strategy.

The two persons are Kelvin Crusoe, and Patrick Okigbo. Crusoe, with 26 years experience in corporate transformation in the telecommunications sector has the mandate of re-engineering Nitel/Mtel to operate at the highest level of efficiency. His entry into the company is said to be responsible for the improvement that is being recorded in the company. Okigbo on the other hand has over 20 years experience in financial management. His working experience cuts across the US Postal Serices, USAID, and US Defence.

The GMD said Transcorp’s operations have been structured on a model that delivers nine programmes with a total of 22 projects.

Target earnings

Transnational Corporation of Nigeria (Transcorp) plans to grow its revenue to N635 billion ($5.0 billion) over the next five years to 2012. It expects rapid appreciation of its market price to hit N50 per share within the next 24 months.

Iseghohi announced this at the listing IPO of 2.899 billion ordinary shares of 50k each at N7.50 per share.

The GMD also announced that the company is very likely to pay dividends and issue bonus earlier than is projected in the IPO document.

He said the target and the optimism surrounding it is driven by the locked up value in the mega corporation and the turnaround initiatives currently being executed by the new management.

He said the company will soon launch a 100 -day turnaround programme called Project SPACE (Speed, Performance, Action, Cashflow, and Execution). Already, some milestones have been recorded under the programme, which includes the restoration of 70 per cent of NITEL backbone, restoration of MTEL in 16 cities and the consummation of a technical partnership deal that will generate a revenue of up to N35 billion with CISCO, Dimension Data, and Cable & Wireless.

Transcorp has also secured N13 billion funding for NITEL’s fibre optics networks and completed the conceptualisation phase of a real estate mixed use development in Ikoyi, a choice area of Lagos, that will deliver N10 billion in positive cashflow.

Another major development is the move to collect more than N29 billion NITEL debts. A reasonable portion of the job has been done.

On the financials, the GMD said as is expected of a new company; Transcorp will record a loss of about N9.78 billion in the current year 2007, but will bounce back in 2008 with a profit of about N5.7 billion, and remain profitable for the subsequent years.

Shareholders’ fund is also expected to grow to N25.9 billion in 2007, and N31.65 billion in 2008.

Iseghohi said the balance sheet of Transcorp has been realigned by way of transforming short term liabilities to long term assets.

Stockbrokers at the briefing expressed satisfaction with the achievements of the management within at short time of taking over the running of the company.

Prospects

Transcorp has bright prospects with the drive of the current management. The company also has interests in very strategic sectors of the Nigerian economy such as communication, tourism, and oil and gas among others. It has also entered into strategic partnership with a number of world class organisations with the aim of establishing a profitability profile for the company in the shortest possible time. At the current price of N4.41 per share, investors pursuing a contrarian strategy have a good entry window for quantum returns. But a major condition for this to come to pass is that the investor must be ready to hold the stock for long.




source ; http://businessdayonline.com/Investor/361.html
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by crazyT(m): 12:07am On Oct 07, 2007
I think the best thing is to buy more of Transcorp shares and awaits my grand children to reap the benefits in 2037 or there about. grin
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by Nicklee(m): 5:49am On Oct 07, 2007
crazyT:

I think the best thing is to buy more of Transcorp shares and awaits my grand children to reap the benefits in 2037 or there about. grin

Ha ha ha, Yeah right, Grand children indeed.

The fact, which people who have decided to follow the bandwagon, have refused to see is that Transcorp is one company with enormous potentials that are currently being harnessed for profitability. You cannot buy a pretty dead company like NITEL and expect to perform magic on it overnight. With time, and to be specific, in a matter of 1.5-2 years, Transcorp should be profitable enough to be an investor's delight- if they keep focussed though.

By the way, it was written in the IPO prospectus that profitability will not start until 2009. It was also started that part of the IPO proceeds will be used to repay Loans. Therefore, any investor OUGHT to have been prepared for a medium to long term investment, our biggest problem is that the irrational movement in the Nigerian stock market has blinded everyone into seeking short term ( 1-6 months, 100%) returns instead of looking at potentials, fundamentals etc. If Warren Buffet was Nigeria, he definitely would have been mopping up Transcorp shares by now, that is how investors out to think, not the unsustainable get-rich-quick stock investment style,

Anywayz, 'Make we siddon dey look'
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by egoldman(m): 11:47am On Oct 07, 2007
i just dey watch that company, will make my move as soon i think its the time , but for now , am watching every of them moves.
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by jacs(f): 10:48pm On Oct 21, 2007
Hi pple,
The problem with Nigerians is that we are used to getting rich overnight without any potentials or fundamentals.

Transcorp is a company for the future, investors need not worry about constant drop in its share price at present. If i have the money, i'll buy more at this cheap price.

It is a stock to hold for a long term. The returns will be massive in the long run. Don't be blinded into seeking short term returns, invest heavily in Transcorp for your future prosperity and that of your family.

The guy at the helm of affairs in Transcorp is ''Mr Turnaround''. He will surely transform Transcorp to the largest and most profitable conglomerate out of Africa.

More grease to your elbow, Mr Tom Isegbohi and the team. The guy has done it with Ford, American Express and Cocacola. He will surely deliver.

Iam predicting N45 share price for Transcorp within the next 18 months. Watch out!
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by babadee(m): 12:10am On Oct 22, 2007
Transcorp, money of the people, by the people for the people.
lets wait and see
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by naira4doll(m): 12:13am On Oct 22, 2007
As for me, I'll hold on to my shares and hope for the best in the future. I believe that with the board of men of timbres and callibres, we'll make it big.
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by nigeria1: 3:32am On Oct 22, 2007
Chika Mordi,Olorogun Oterga Emehor . this names what do they know about telecommunication. telecommunication is more than  Ford, American Express and Cocacola. Let the truth be said. Transcorp would not make profit. It still have the NITEL in them. I can turn around transcorp in 2 years,  and give them more than 10 million client  in two years. How, I know I can beat Adenuga in his gain. Like I always say What does the age of Methuselah as to do with the wisdom of Solomon. Your decisions determines your destiny--

I just do not think Transcorp can pay me. If they can break the bank hard. I dey here. I would show them my pay cheque they most pay more. that is if they no run away. My price is high. have they heard of Profit sharing. Soup which sweet , na money kill it. I am looking for an opportunity to go one on one with Adenuga. I believe I can out smart Adenuga and his team. Adenuga is too smart. I will run MTN and globacom out  of the market in 2 years.
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by Pain(m): 4:49am On Oct 22, 2007
nigeria1:

Chika Mordi,Olorogun Oterga Emehor . this names what do they know about telecommunication. telecommunication is more than Ford, American Express and Cocacola. Let the truth be said. Transcorp would not make profit. It still have the NITEL in them. I can turn around transcorp in 2 years, and give them more than 10 million client in two years. How, I know I can beat Adenuga in his gain. Like I always say What does the age of Methuselah as to do with the wisdom of Solomon. Your decisions determines your destiny--

I just do not think Transcorp can pay me. If they can break the bank hard. I dey here. I would show them my pay cheque they most pay more. that is if they no run away. My price is high. have they heard of Profit sharing. Soup which sweet , na money kill it. I am looking for an opportunity to go one on one with Adenuga. I believe I can out smart Adenuga and his team. Adenuga is too smart. I will run MTN and globacom out of the market in 2 years.


Delusions Grandeur?
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by bibiking1(m): 5:06am On Oct 22, 2007
Chika Mordi,Olorogun Oterga Emehor . this names what do they know about telecommunication. telecommunication is more than Ford, American Express and Cocacola. Let the truth be said. Transcorp would not make profit. It still have the NITEL in them. I can turn around transcorp in 2 years, and give them more than 10 million client in two years. How, I know I can beat Adenuga in his gain. Like I always say What does the age of Methuselah as to do with the wisdom of Solomon. Your decisions determines your destiny--

I just do not think Transcorp can pay me. If they can break the bank hard. I dey here. I would show them my pay cheque they most pay more. that is if they no run away. My price is high. have they heard of Profit sharing. Soup which sweet , na money kill it. I am looking for an opportunity to go one on one with Adenuga. I believe I can out smart Adenuga and his team. Adenuga is too smart. I will run MTN and globacom out of the market in 2 years.


where do all these people come from?
how do these maniacs find their way into nairaland? =))
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by kg(f): 11:33am On Oct 22, 2007
Till now transcorp has done nothing but to further destroy (due to ignorance) the company(NITEL) willed to them by their father OBJ. You cannot understand the depth of damage they've done in the last one year. Giving special attention to the treatment of ringworm and ignoring leprosy completely- chasing shadows!

Why do you think it took so long for them to lift the technical suspension on their shares?

The only hope I have is the Tom Isegohi factor, that's the only right step they have taken so far yet it's no guarantee for miracles.

It's one thing to have money to do biz it's another thing to fully understand the biz itself.
It's not about noise and hype, it's about results.
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by mrtunde(m): 12:05pm On Oct 22, 2007
I would not touch transcorp with a long stick.
I mean, what businesses do they have in their portfolio to warrant even N4 per share?
Running a business is a lot like personal finance. Your cost has to be lower than your income to have savings or profit in the case of a company!.
for transcorp, to start with, Nitel was acquired for far in excess of what it was worth. Nitel again is bleeding cash and would require heavy investment of cash (which transcorp does not have) to bring it back to life. I guess you can always say the banks will lend transcorp money but no serious bank will do that when Nitel's competitors have run-away market shares, the cream of the customers and are better capitalized!

The managers of Transcorp has to diversify their portfolio and focus on businesses that will bring instant cash. nitel is not one of the. To get there is a good five years of relentless efforts.

unfortunately, Transcorp does not have a guaranty of participating in the lucrative oil & gas sector as promised by OBJ. this would have provided them with a lot of cash to cover up the hole in Nitel.

Transcorp is a sum of its parts. and those parts are standing on precarious grounds.

Investment advice, buy, only if you are ready to wait 5 years!!!
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by IykeD1(m): 12:19pm On Oct 22, 2007
@kg,

Will you be kind enough to detail the extent of damages that Transcorp has done to Nitel since it bought the
entity (as if NITEL wasn't comatosed before its acquisition)?

Also, I know everyone is applauding the Tom Isehoghi move now, I bet they didn't think the company had the
capacity to have "thunk" that. Transcorp is a new organization, they will make plenty of mistakes but in time
they will find themselves. I hope very soon Ndi will be replaced with another competent person as chairman
of the board. Yes, the stock price has plummeted but someone is buying whatever shares that is being sold!

It is instructive to note nowadays that the argument or the gripes people have against Transcorp was not
what will happen to them after May 29 (remember that magical date?) but whether it's ready to fly or how soon
it can get its acts together, etc. Somehow (IPO effort largely) they have managed to hedge that political risk
and nip that argument abouts its survival on account of OBJ departure - it has evaporated with the addition of
about 250,000 shareholders . . .

I am sure some you guys will think of something else to complain about, which is good by the way as long as
it gets them on their toes! And now, I hand over to the Warren Buffet wanna-bes for further comments and
Buffet-like analysis grin
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by kg(f): 1:54pm On Oct 22, 2007
Iyke-D:


Will you be kind enough to detail the extent of damages that Transcorp has done to Nitel since it bought the
entity (as if NITEL wasn't comatosed before its acquisition)?


They were not in coma when they bought a comatose NITEL(yet it was not as comatose as people thought, the problem was bad decisions by bad mgt put in place by an ignorant govt. Yet in that state it still remains the only telecomms co. in naija that renders very important tel. services to the remaining telecomms companies, PTOs and GSM companies), if they knew they weren't competent they should have allowed other bidders who had experience in the telecoms sector to buy. With their zero experience in telecoms they still chose to "buy" or they thought it's hilton hotel where you boil water make garri and biz don start.

Come to think of it how is it possible that I piggy back other telecoms company successfully yet I'm so sick myself? It is only in naija that things like that happen.

Rather than transcorp to come in and work they are busy making so much noise in the papers claiming world class while the company loses billions (in the last one year of their NITEL takeover) that could have been avoided. Not only that they've not been able to pay salaries, owing staff several months of unpaid salaries while they make money from SAT3 and clean mouth!

If I start this transcorp discussion it won't end, I was never against privatization but I have a problem with selling to a zero telecomms experience company while the door was slammed against other buyers who were more competent. I knew transcorp was the company to takeover NITEL long before it was sold.
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by nigeria1: 2:41pm On Oct 22, 2007
Look i have no problem with Tom Isegohi , but he as been there 6 month. The price of transcorp have drop to its lowest. what does that tell you. since Tom Isegohi  have been there how many new client do they have compare with glo. The company have not change since he join Transcorp.  You can not have noive run Engineering companies. Like i said, i would turn transcorp around. I would give them first my resignation letter, if after 2 years transcorp does not have 10 million client. The yoruba man would says if you are sure of your medicine , you hits it on head. I know I can do. I want Adenuga One on One.  Look I would be back by one of the world best telecommunication companies which i have worked  for before. They do internet, cell phone, land line, broadband TV. They have about 10 million client. So when i dey tell you something listen.

I said Yinka Tella would die at LUTH, LUTH CMD said that was a lie, Is Tella still alife.
I major in telecommunication. I believe Nigerian can build great company, at least Adenugu , dangote and others have set the pace.  Transcorp can be transformed, but I do not see an accountant transforming a pure engineering company. Round hole , square peg.
What ever you do not have passion for, you can not great in. Engineering is our passion, that why most of us remain in that field. You can not bring a framer to run a hospital as CMD. Yoruba would say Ose wo. You can not Tell a brick layer to defend client in court. Never. You can not a bus conductor to fly an aeroplane. What is never is never.

Tom Isegohi , no vex,  Omo no ba,  The next king of benin,  I salute. You have 6 more month to increase  your client to 10 million. or i would apply for your job.


http://NigeriaONE.com
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by IykeD1(m): 3:04pm On Oct 22, 2007
@KG1


They were not in coma when they bought a comatose NITEL(yet it was not as comatose as people thought, the problem was bad decisions by bad mgt put in place by an ignorant govt. Yet in that state it still remains the only telecomms co. in naija that renders very important tel. services to the remaining telecomms companies, PTOs and GSM companies), if they knew they weren't competent they should have allowed other bidders who had experience in the telecoms sector to buy. With their zero experience in telecoms they still chose to "buy" or they thought it's hilton hotel where you boil water make garri and biz don start.

Its news to me that NITEL was doing so well and not in coma until it was bought by Transcorp, but then you
may be right as you seems to know a lot of internal stuff tongue

@Nigeria1

I am not exactly sure what Tella has to do with NITEL and Transcorp. Also that you majored Telecoms does
not in any way qualify you to run a Telecoms company. Are you smoking something?
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by nigeria1: 3:11pm On Oct 22, 2007
Tella is a spiritual thing.
Look when Tom join transcorp i wrote on Nairaland. That he would not perform. And look the way the stock have gone down. I can not explain spiritual thing over here. Go read your bible or koran.

What ever you do not have passion for, you can not be great in. Engineering is our passion, that why most of us remain in that field. You can not bring a framer to run a hospital as CMD. Yoruba would say Ose wo. You can not Tell a brick layer to defend client in court. Never. You can not tell a bus conductor to fly an aeroplane. What is never is never.
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by tkb417(m): 3:55pm On Oct 22, 2007
Transcorp is just a calculated facade, nothing is coming outta it
lets take a bet?
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by IykeD1(m): 4:01pm On Oct 22, 2007
@Nigeria1


Tella is a spiritual thing.
Look when Tom join transcorp i wrote on Nairaland. That he would not perform. And look the way
the stock have gone down. I can not explain spiritual thing over here. Go read your bible or koran.

Were you expecting the stock to skyrocket just simply Tom was named CEO, even when he has
not assumed the mantle and not had the chance to digest the problems? How can he plot the
right strategies if he doesn't understand the problems?

I don't think I need to read the bible or koran to figure that one out, I think its called common
sense, not spiritual (no offense meant).
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by oshkosh(m): 4:05pm On Oct 22, 2007
Tella is a spiritual thing.
Look when Tom join transcorp i wrote on Nairaland. That he would not perform. And look the way the stock have gone down. I can not explain spiritual thing over here. Go read your bible or koran.

Are you for real? Please move your contributions to the jokes section where it belongs!


With their zero experience in telecoms they still chose to "buy" or they thought it's hilton hotel where you boil water make garri and biz don star

It may shock you to know that running a 5 Star hotel is just as cumbersome, requiriing just as much specialist management as running a telecoms company. If Hilton had struggled, people would have complained that TransCorp has no hotel, hospitality experience. In this age of globalization, diversification, you DO NOT need specialist knowledge to own a company. You can get the right management in place to make it work. How much experience did the virgin group have outside the Airline business. Yet they're buying up, and succeeding at running telecoms companies, media, Trains and soon a bank!! How did GE get into all the businesses they're now involved in? Organic growth or acquisitions? Venture Capitalists are falling over themselves to acquire ailing companies as fast as they can spell them. How much experience do they have in running pharmaceutical, retail businesses? None. Yet, they acquire, engage and often DO turn them around.

The point I'm making is that the must-have-hands-on-experience-to-own concept is outdated and yesterday's prescription. Transcorp certainly made mistakes in the appointments of Longe and the previous management team. They have corrected this by getting the right management team in place  - Iseghohi, Okigbo, Caruso, Ladi Williams and a host of others. Most of these guys bring a wealth of specialist experience that will bring good tidings to Transcorp.

Remodelling of Transcorp and it's parts is a work progress. I'm certain that many critics of today will rue Transcorp as an opportunity missed.
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by nigeria1: 6:49pm On Oct 22, 2007
Iseghohi, has no experience in the field. Yes a company can get good managers. but Iseghohi first 6 month is zero. The backbone of transcorp is NITEL, nobody did buy transcorp share because of its Hotel service. Who care for hotel.

Look let me help this man they call Iseghohi. Change your approach. And  longe was not a mistake. longe was more there to get connection for the company with government and corporate bodies. Iseghohi lack that.

Iseghohi should go to the school of adenugas and Dangote. 6 month from now, I would be back  to tell you,  THE same old story , non performance. Engineering is engineering. Glo is managed by engineers. Na connection they kill transcrop.
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by wanaj0: 6:59pm On Oct 22, 2007
kg:

They were not in coma when they bought a comatose NITEL(yet it was not as comatose as people thought, the problem was bad decisions by bad mgt put in place by an ignorant govt. Yet in that state it still remains the only telecomms co. in naija that renders very important tel. services to the remaining telecomms companies, PTOs and GSM companies), if they knew they weren't competent they should have allowed other bidders who had experience in the telecoms sector to buy. With their zero experience in telecoms they still chose to "buy" or they thought it's hilton hotel where you boil water make garri and biz don start.

Come to think of it how is it possible that I piggy back other telecoms company successfully yet I'm so sick myself? It is only in naija that things like that happen.

Rather than transcorp to come in and work they are busy making so much noise in the papers claiming world class while the company loses billions (in the last one year of their NITEL takeover) that could have been avoided. Not only that they've not been able to pay salaries, owing staff several months of unpaid salaries while they make money from SAT3 and clean mouth!

If I start this transcorp discussion it won't end, I was never against privatization but I have a problem with selling to a zero telecomms experience company while the door was slammed against other buyers who were more competent. I knew transcorp was the company to takeover NITEL long before it was sold.

Your statement in bold does not reflect the events that led to the sale of NITEL to Transcorp.

Was it Transcorp that prevented IIL from paying up when they bidded for NITEL?

Was it Transcorp that prevented Pentascope from turning NITEL arround?

Was it Transcorp that prevented Orascom from submitting a bid above the reserved price?

You mean all the time that IIL won the bid for NITEL you already saw through the crystal ball that NITEL would be sold to Transcorp

Let's get real here. Transcorp was DESIROUS of NITEL that in my own estimate, they over paid.

Transcorp went for an IPO at the wrong time. They however had to do that to edge the political risk in view of the change in government.

Anyone expecting NITEL to be turned around in a year is elaving in dream land. Even the Transcorp prospectus showed that there will be no profit till 2009! That itself is ambitious.

Transcorp will still come good. However, they have the work cut out for them. They are already lagging behind in terms of expansion etc. But hope is not lost. They need to get the right people in place now that they ahve overcome the political risk.
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by nigeria1: 8:25pm On Oct 22, 2007
thatis not the issue mister, the issue is if Iseghohi has any vision. He should come out and tell the shareholders. He should explain the fall. If not, the share value would drop to less than 10 kobo, Then I can buy all thier shares. Na Joke Mr Iseghohi, this na my advice to you. you need to start getting result in less than 6 month, if not, you would be out of a job. Transcorp investors can not wait any longer. I which you well. Change your approach. You look like you do not have a vision for the company. Sit down and plan for growth. Like I said again good luck.
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by BabsO2(m): 9:05pm On Oct 22, 2007
I will recommend a buy on Transcorp for those who have faith in growing the economy. Transcorp is a venture, some ventures become highly successful while some become failures. With the little I have glanced at I have the impression Tom Iseghoghi coming on board is a good decision. I bought the IPO in good faith that if Nigerians don't sponsor ideas like Transcorp what examples can we give the future. I respect Baba (OBJ) for his vision on Transcorp and many other things.

I quote Tom from a mag "The 'new' Transcorp will be focused on meeting the expectations of those who have invested capital and Just as important[b] THEIR FAITH,
[/b]
I bought the IPO at N 7.50 and now I will be mopping at N4.0 since it seems it doesn't want to reach my price target of N3.75.

Once Transcorp sets the direction I pray a company 100% Nigerian will be floated also to take a fresh investment focus on the steel industry. Taking Gas from Offshore Ondo State and sending it off to Osun State Oshogbo and set up a world class steel complex in there. Nigeria needs lots and lots of tonnes of steel if we want to transfer to a developed country. Also we need to start sowing the seeds to create jobs for the coming generation. I will continue on this on another topic.
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by egoldman(m): 9:11pm On Oct 22, 2007
Transcorp seems to have overcome the political risks, at least to some extent , that by itself is a good sign cos many actually thought the company would go down with the exit of Obj ,but it looks like that may not actually happen .
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by egoldman(m): 9:18pm On Oct 22, 2007
NITEL Gets N1bn Life Line - Transcorp Shareholders to Smile

Posted Sunday, October 21, 2007

Respite may have returned to Nigeria’s foremost telecoms gateway, Nitel, as it gets a whopping N1 billion funding from Cisco for its West African submarine cable, known as SAT 3. This funding, BusinessWorld Intelligence can reveal, will form the major thrust of Nitel’s effort to return to relevance in the economy. This is also believed to have been seen as a source of relief to shareholders of Transnational Corporation, most of who invested in the company hoping to leverage the stature of Nitel in their wealth creation bid.



As part of the contract agreement, Cisco would deploy its CRS-1 Carrier Routing System which is the industry’s only carrier routing solution that enables service providers to deliver a suite of data, voice, and video services over a highly available and highly scalable Internet Protocol Next-Generation Network (NGN) infrastructure.



The technology is designed to ensure that Nitel achieves the aim of offering continuous system operation as well as unprecedented service flexibility and scalability while its investment would also be protected for decades to come.



The first ever CRS-1 Carrier Routing System was deployed by Cisco to British Telecom(BT) last year to power its 21st Century network. And with this deployment, BT expects to save $2 billion a year in reduced operating costs.



BusinessWorld Intelligence revealed that Cisco agreed to the financing arrangement having discovered the huge potential that abounds in Nitel’s cable network. The project would particularly ensure Nigeria’s speedy and more effective connection to the global superhighway. On the other hand, it would also bring about good return on investment for Cisco.



Sources within Transcorp who disclosed this development indicated that the project would expand Nitel’s capacity by six times and create huge volume of bandwidth in commercial quantity for corporate organizations in telecoms, banking, oil and gas and other multinational firms in Nigeria for the provision of data and other related services.



The source further disclosed that the project would reduce the cost of access to the internet for the generality of Nigerians by about 50 per cent between now and the next 18 months when it is expected to be completed.



Nigeria is often identified as the fastest moving economy and one of the most advanced ICT market sectors in Africa, but its telecommunications infrastructure remains one of the major issues affecting technology deployment required for growth and development in the country. It is believed that the project would create massive improvement in infrastructure in the next few months.



This development is considered by many as part of the promises made by the conglomerate while reemphasizing its mission to the Nigerian economy some few months ago. Nitel has remained the last hope of all Transcorp investors because it still has the capacity to amplify many business services using its existing infrastructures that need to be renewed

source ; http://www.proshareng.com/myproshare/portal_news.php?id=3046
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by egoldman(m): 1:35am On Oct 23, 2007
Oga admin , am sure you would agree with me that you need moderators with this forum, so many people post crap that does not relate to a thread topic .
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by nigeria1: 1:50am On Oct 23, 2007
Mr Iseghohi here is 2 gift from me to you.

One read the story of a man that cried to God to expand his coast. Notice the word , he cried. Crying involve passion. You need to get more passion. You do not need all this over public make over. Your works would speak for you.

Two read about the Roman empire. How a 4 ft man over take the world.

3. Set a target client you want in 6 month. And go after it. The word of God says that the vision is for an appointed time, wait for it . Without vision the people perish. Transcorp share is going down because of lack of vision. Create a vision for transcorp my bro  Iseghohi.

4. Divided the company into different groups, with each having his board and chairman and different names. But all under the transcorp group. You see if they all had one name transcorp, if one company does not do well, the others would fall with it. Name matter in business.


My  Iseghohi, the motto of Engineering student in Nigeria universities many years ago, is engineering is for creative mind.
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by alliednetw(m): 6:27pm On Oct 23, 2007
Is someone in here nuts or what?
Re: Transcorp Board Reconstituted: Are They Ready To Fly? by marco74(m): 6:48pm On Oct 23, 2007
nigeria1 your thought contents aren't different from bipolar(manic) patients that i c regularly in my daily practice.if u really believe what u av been posting,then your family needs to take u to a psych hospital.one big problem here is lack of insight;u don't realise you're ill,so the call needs to be made by someone sane(a family member or friend would do).i hope they are as worried about your mental state as some folks here are?!

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