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Re: Nigerian Stock Exchange Market Pick Alerts by chillykelly86(m): 10:21pm On Mar 04 |
I picked an info that their tower contract is priced in dollars as a reference and that's responsible for part of the profit erosion. Unfortunately, I can't pinpoint the source and veracity of that information now. Does anyone have reliable info on this? Because if that's true, then that part of it is not one-off and will even grow. Though I expect a turnaround as I expect the Telcos will meet with NCC and raise tarrifs to pass the costs down to the end-users eventually. ositadima1: |
Re: Nigerian Stock Exchange Market Pick Alerts by ositadima1(m): 10:54pm On Mar 04 |
chillykelly86: https: //www . google . com/amp/s/businessday.ng/technology/article/ihs-risks-losing-n380bn-tower-deal-with-mtn-nigeria-over-dollar-pricing/%3famp=1 https: // punchng . com/mtn-reviews-tower-contracts-due-to-fx-fuel-cost/ 2 Likes 2 Shares |
Re: Nigerian Stock Exchange Market Pick Alerts by bigjay01(m): 3:42am On Mar 05 |
Agbalowomeri: Why all this Tony bashing? Perhaps people have forgotten how we got free UCAP shares from UBA about 15yrs ago. Never mind the UCAP rights issue @ 90K. BTW, there was also free Afriprud shares. All from UBA. Was he a cowboy then? 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by edwardaigb: 4:09am On Mar 05 |
emmanuelewumi: Thank you for this information instead of rushing to put out N217 as dividend. |
Re: Nigerian Stock Exchange Market Pick Alerts by iHaveMadeiT2: 6:10am On Mar 05 |
https://www.google.com/amp/s/nairametrics.com/2024/03/04/nascon-allied-plc-declares-151-28-increase-in-profit-after-tax-for-fy-2023/%3famp=1 NASCON N5 special dividend |
Re: Nigerian Stock Exchange Market Pick Alerts by unite4real: 6:53am On Mar 05 |
iHaveMadeiT2: N5 dividend is not true. It's better you read the report yourself instead of relying on nairametrics 4 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by thebargainhunte: 7:25am On Mar 05 |
iHaveMadeiT2: Alhaji has been kind to NASCON shareholders. They must be compensated before the merger. He is also trying to match Dangfoods OS with that of Buafoods, hence the increase in NASCON OS. The problem right now is that we don't know his rice company OS, he might inflate or deflate the OS to match with his ambition. 3 Likes
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Re: Nigerian Stock Exchange Market Pick Alerts by Mankind2024: 8:19am On Mar 05 |
chillykelly86: Nothing is good about MTNN. They contributed to the sinking Nigeria Micro-economy. Nigeria is just a nation where there is no NATIONALIST. We forget things easily. It was this same MTNN that illegally repatriated cash of billion dollars from Nigeria economy. https://www.premiumtimesng.com/news/headlines/300849-untold-story-of-mtn-illicit-repatriation-of-billions-of-dollars-from-nigeria.html?tztc=1 https://www.google.com/amp/s/phys.org/news/2018-08-nigeria-safrica-mtn-refund-bln.amp |
Re: Nigerian Stock Exchange Market Pick Alerts by BabsO2(m): 8:29am On Mar 05 |
Mankind2024: Forex loans can be used as a strategic means of timely repatriation of Forex profits back home. Foreign multinationals do this to hedge against losses to the original forex invested, as well as edge against losses to their retained profits in the local economy should the local economy slump. In this way they pass a chunk of risk to local investors while safeguarding their injected funds and some accrued profits. I think going forwards, the FGN should strategically look for FDI's that generate forex income streams (like PRESCO) and expand Nigeria's forex income stream beyond oil&Gas. 7 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by BabsO2(m): 8:44am On Mar 05 |
KarlTom: And many did offload as over 200m units were sold at N3.2b. Looks like big funds (who see the hidden value) bought it biding bullishly for it from offloaders Those offloading Transcorp slowed down today. Bullish demand for it remain very strong. How far will this bull go ? |
Re: Nigerian Stock Exchange Market Pick Alerts by vacanci: 8:56am On Mar 05 |
Mankind2024: for me i don't care whether MTN is good or not. i don't have emotional attachment to any company. i am only interested in my money. If MTN price goes down and i spot opportunity to help that my money, i will jump in. when i meet my target i will jump out. my money is more important 7 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by Boshins: 8:57am On Mar 05 |
vacanci: |
Re: Nigerian Stock Exchange Market Pick Alerts by ositadima1(m): 9:18am On Mar 05 |
Mankind2024: Again with conspiracy theories without going in-depth to understand what really happened. There are several resources available now that the average person can dig deep and get a more balanced perspective on things, thank God for the internet and AI. "In 2018, MTN Nigeria was embroiled in a dispute with the Central Bank of Nigeria (CBN) over the alleged improper repatriation of $8.1 billion from Nigeria to South Africa. The CBN claimed that MTN Nigeria had not obtained the necessary approvals to repatriate these funds, which were dividends and technical fees paid to its parent company, MTN Group, over several years. While public companies can repatriate profits and pay dividends to their shareholders, the issue in this case was the alleged violation of Nigeria's foreign exchange regulations. The CBN accused MTN Nigeria of failing to obtain the required certificates for the repatriation of the funds. Initially, the CBN demanded that MTN Nigeria refund the $8.1 billion, but after negotiations, the parties reached a settlement in December 2018, wherein MTN Nigeria agreed to pay penalties. The controversy highlighted the challenges that multinational companies sometimes face when operating in different regulatory environments, particularly concerning foreign exchange controls and the repatriation of funds across borders. While MTN Nigeria maintained that it had followed the necessary procedures, the CBN's allegations and the eventual settlement suggest that there may have been some lapses in compliance with the applicable regulations." ...copied If there is contrary evidence, I would like to learn about it. 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by KarlTom: 9:56am On Mar 05 |
vacanci: |
Re: Nigerian Stock Exchange Market Pick Alerts by KarlTom: 10:00am On Mar 05 |
Ding! |
Re: Nigerian Stock Exchange Market Pick Alerts by Mpeace(m): 10:08am On Mar 05 |
I think mtn is waiting for q1 2024 to decide what way to move. |
Re: Nigerian Stock Exchange Market Pick Alerts by Princkez: 10:10am On Mar 05 |
TRANSCORP oooo |
Re: Nigerian Stock Exchange Market Pick Alerts by Coolcash1: 10:14am On Mar 05 |
TRANSCORP...FOLLOW THE MONEY... WETIN CONCERN AGBERO WITH OVERLOAD... 2 Likes
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Re: Nigerian Stock Exchange Market Pick Alerts by KarlTom: 10:19am On Mar 05 |
Serious matter. TRANSPOWER |
Re: Nigerian Stock Exchange Market Pick Alerts by Willie2015: 10:21am On Mar 05 |
Mpeace: How do they tackle losses from devaluation...? Its almost a regular feature of coys with such exposure... DSR.. MTN ..Airtel...Total . Nestle etc etc... Its getting scary... |
Re: Nigerian Stock Exchange Market Pick Alerts by Mpeace(m): 10:26am On Mar 05 |
Willie2015:Thats what investors want to see from q1 result before taking a decision to enter or not. |
Re: Nigerian Stock Exchange Market Pick Alerts by sterlingD(m): 10:27am On Mar 05 |
Any thoughts on NASCON and it's movement? |
Re: Nigerian Stock Exchange Market Pick Alerts by Mpeace(m): 10:29am On Mar 05 |
KarlTom:that 40million units done yesterday, thats what they will use to raise price to 1k. 100,000 units a day is how they will do it lol. Disclaimer: Na joke I dey joke oh. Just put ur money for queue, one day you go get. 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by Princkez: 10:34am On Mar 05 |
Mpeace:but it's the truth |
Re: Nigerian Stock Exchange Market Pick Alerts by tayejay(m): 10:35am On Mar 05 |
chillykelly86:MTN needs to be further investigated regarding depletion of its profits and shareholder shares through its claim which include payment in dollars for its towers management. MTN owns a part of the company, IHS that manages this towers and according to Nigeria law, i think payments for these services should be in naira since IHS is registered and operate in Nigeria. IHS pay rentals for site in naira and for a while now there have been no need for further tower development since the NCC regulation or law provide for colocation which enable different telecoms to mount their equipment on a tower irrespective of whether they own it or not so as to protect the environment and limit nuisance to the people. I suspect MTN is more particular about repatriation of funds and if the CEO has been efficient enough i would have been conversant with volatility of the Nigeria economy and factor all these in MTNN operations to prevent this dastardly poor and inexcusable performance. MTNN must not be allowed just walk away with this grievous actions all in the name of naira devaluation 4 Likes 1 Share |
Re: Nigerian Stock Exchange Market Pick Alerts by yMcy56(f): 10:37am On Mar 05 |
sterlingD:NASCON is a buy from my own amateur perspective ooo. *DD applies* If it's true that a special dividend of N5.18k is declared and is confirmed, investors may likely rush it. That's my opinion. * Bonus of 2:100 already mentioned in the FY report. It's the special dividend that still needs confirmation* As for DANGSUGAR, one entity is currently offloading @50 in market.......or maybe it's cross deals sha, I don't know. |
Re: Nigerian Stock Exchange Market Pick Alerts by temi4fash(m): 10:40am On Mar 05 |
Good morning Sirs and Ma, Is there an App, I can use to buy and sell stocks with ease. Thank you |
Re: Nigerian Stock Exchange Market Pick Alerts by sterlingD(m): 10:42am On Mar 05 |
yMcy56:but there is nothing like that in their 2023 AFS only the proposed bonus was stated . |
Re: Nigerian Stock Exchange Market Pick Alerts by yMcy56(f): 10:44am On Mar 05 |
KarlTom:No single drop since market opens.... Towards closing maybe the MM will come and drop 100k single unit to move the price up for today.....another +10% * 2M single unit crossed now @290.40!! *More cross deals* |
Re: Nigerian Stock Exchange Market Pick Alerts by iHaveMadeiT2: 10:45am On Mar 05 |
yMcy56:Please what do you know about the NASCON special dividend controversy? Any other source apart from nairametrics? If it was an error by nairametrics, I'm surprised it has not been corrected up till now. |
Re: Nigerian Stock Exchange Market Pick Alerts by Shalom428: 10:47am On Mar 05 |
yMcy56:The ₦5.18 is EPS not dividends. But the final destination is still glorious. DangFood is destined to make the patient investors smile richly. Not a buy recommendations Follow The Money 3 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by KarlTom: 10:52am On Mar 05 |
yMcy56: |
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