@ Temmie 10
Ive been around man. How are ya?
I think Aiico made a mistake in the timing of their PO ( bad for them good for me). If they had waited a while they would have priced it higher because of the Nicon/Fund release news. I am hawkishly waiting for it. @ 2.26 that's a steal. With AIG behind them ( [b]IF [/b]AIG returns after things begin to look more transparent) I think they stand a good chance of success. They have been around for a while and so have the advantage of apparent dependability ( just like First Bank) and their management is not bad at all. Let's see how things unfold,

stanchuks:

Hi Temmie10 and Easimoni
Hope i would be allowed to deviate a bit from the heat of the moment(crusader and Mbenefit) results
i would like to know what you both think of BETA GLASS and IKEJA HOTEL _{I HAVE ASKED THIS QUESTION LIKE 3 TIMES TODAY, I DEY BEG MAKE UNA ANSWER ME}

2 weeks ago, pumping and I screamed Ikeja hotels when it was in free fall. now it's gained for ~7 straight days. With a forward EPS of ~35k (and not much earnings growth), I'd say today's price of almost N5 (forward PE of 14) is fair. Not much upside so you may want to look elsewhere. Not much of a chance they'll beat the 35k forecast either. I recommended it 2 weeks ago. Today? Most of the upside has gone. I plan on selling if it gains the next 2 days (forward PE will start approaching 16)

Beta Glass is one of Shigidi's flavor of the month. If I remember clearly, the forward PE is ~10 and it's been "immune" from the bullish run the past week. I'd say it's the better of the two based on today's prices.

Happy hunting.

As any stock investor knows, one should be in this for the long term and Temmie10 just reminded me of that.
thank you fro that
i go back to why i bought crusader in the first place, its been around for a while and though nothing like the banks, its fundamentals aren't bad
these results are just a bit disappointing man!!!
i had hopes they would reach good results and end up in the N6 range but so much for that, at least for the next few weeks to 1st Q '08.

as temmie10 rightly reminded us, lets keep our eye in the longer term if we have the liver for it!

the bulls have it for now
ikeja hotels is gone, AIICO P.O is to come, Zenith is at the door,

we wait and watch, sharpening our knives

Learnt MTN is doing a private placement. $2m minimum. But people can team up together to buy. Anyone with more info?

wanaj0:

Learnt MTN is doing a private placement. $2m minimum. But people can team up together to buy. Anyone with more info?

this is a real mouthwatering one o,
anybody with info on this bank breaking gist..did u jus say 2 million american dollars?

NA WA O, WHICH STOCK PERSON GO PUT HAND BUY NOW, I BEG MAKE UNA HELP OUT, I NEED TO MAKE A DECISION NOW
THANKS

oga Wanaj0,
Where have you been? what do you have to say about all the bad news coming out today, crusader, cadbury e.t.c. You did warn people to be careful about the insurance sector
How do we move forward? Stock up on cash?

toyibanj:

oga Wanaj0,
Where have you been? what do you have to say about all the bad news coming out today, crusader, cadbury e.t.c. You did warn people to be careful about the insurance sector
How do we move forward? Stock up on cash?

Though am not Wanja0 but have read with interest the posts. WEMA posted results and there was panic. Now its Crusader. Like Temmie suggests, they are on track and whatever they did for the 2nd QTR results is not working in there third, however Crusader is not a bad coy fundamentally. Short term?? Might not be hence i suggested a rotation of the list that was going on in the thread UNIC, Law union and Crusader,

As for Cadbury, Am learning how bad decisions can almost ruin a good coy that was fundamentally strong, Well its price never dropped below #25 even when brokers said sell cos its fair price was #12. So now that they have declared a loss they should be out of it by the last quarter. Cadbury is rising again,

For all asking what to invest in for the last quarter, take your time abeg, bargains are going to show if you are patient and study the market,
Cheers

toyibanj:

oga Wanaj0,
Where have you been? what do you have to say about all the bad news coming out today, crusader, cadbury e.t.c. You did warn people to be careful about the insurance sector
How do we move forward? Stock up on cash?

It is not illegal to keep your money!!!!! It is not everytime that you have to BUY.

Insurance sector in Nigeria is very risky. The dearth of information is worrying. I would rather stick with insurance companies that I ahve enough info on. UNIC falls into this category.

Nothing special about Cadbury. Not on my BUY list.

Temmie10:

this is a real mouthwatering one o,
anybody with info on this bank breaking gist..did u jus say 2 million american dollars?

Yes I heard US$2m. Learnt will be listed in 2009

$2 million is a bit steep for individuals but could be done as a collective. any takers?
wanajo, can u reveal ur source or would you rather not?

can u say how believable it is though

by the way, just found this and thought i'd share it

wonder what u'all think


First Inland, FutureView commit N4bn to Japaul’s offer
By Goddy Egene | 18 September 2007



First Inland Bank Plc and FutureView Financial Services Limited have committed N4bn to the forthcoming public share offering and Rights Issue of Japaul Maritime and Oil Services Plc.

Japaul is the only company which provides oil and maritime services that is listed on the Nigerian Stock Exchange.

It provides offshore oilfield vessels, dredging activities in oilfields/locations, pipeline construction in swamps, maritime logistics and other maritime services.

In order to boost its operations, the company will from September 24, 2007 offer about 1.007billion shares for public subscription at N3.95 per share and 291.549million shares at N3.50 to existing shareholders as Rights Issue. The company is expecting gross proceeds of N5bn from the offer.

However, First Inland Bank and Future View Financial Services, which are the joint issuing houses, have agreed to provide N4bn in form of firm underwriting.

Although the N4bn will only be provided if the offers fail, the Managing Director/Chief Executive of First Inland Bank, Mr. Okey Nwosu, said "We have implicit confidence in the management and board of Japaul.

That is why we have undertaken to be joint issuing house to the offer and have gone a step further to underwrite a significant portion of the offer."

According to him, the company has had a good track record since becoming quoted in 2005, paying dividend and bonus shares. He said that the company operates in a sector that is a key driver of the nation’s economy, saying "We are certain that the offer will be massively oversubscribed."

Speaking in the same vein, at the completion board meeting held in Lagos Friday, the Managing Director of Future View, Mrs. Elizabeth Ebi, said that Japaul was throwing open its doors of prosperity to investors to take come and become part of a bright future.

According to her, Japaul is the only oil service company listed on the NSE because the company is bold enough, magnanimous enough to share its wealth with other investors.

"This is an opportunity to existing shareholders to increase their stake and for new investors to buy into the only oil/maritime services company listed on the NSE," Ebi said.

@aktopgun
i think thats part of the underwriting requirements, since the offer was underwritten by both first inland and futureview.
the offer was for 5 billion, the legal requirement is 80% which gives us the 4 billion that they pledged.

aktopgun:

$2 million is a bit steep for individuals but could be done as a collective. any takers?
wanajo, can u reveal your source or would you rather not?

can u say how believable it is though

Private placement is meant for high networth individuals. So the $2m is not way out. Hopefully, a group of people can come together to raise the minimum requirement.

My source I think is reliable. Will wait till I get more info. My source claims to get the info from the arranger of the private placement.

thats right temmie10
i just thought it interesting that such well established companies would stake their reputations as it were on Japaul

its a profitable company no doubt but N4b, that seems a lot even as arequirement but u take ur point

temmie i take ur point on japaul

Put me down for this private placement. I pledge $1.98 Million!!

Seriously, it is a blessing to be in this forum and I think we should form an investment group SOLELY for this MTN placement and then we buy our other stocks individually. We can start contributing now in order to be ready when the PP comes out. What say y'all?

jehosaphat:

Put me down for this private placement. I pledge $1.98 Million!!

Seriously, it is a blessing to be in this forum and I think we should form an investment group SOLELY for this MTN placement and then we buy our other stocks individually. We can start contributing now in order to be ready when the PP comes out. What say y'all?

COMPLETELY WITH U ON THIS $2M NO BE MOIMOI

i would be up for it jehoshaphat
i wonder what our fellow nairalanders think about it though

the issue of mutual trust comes to play u know. I trust the fellas on this forum but the question is do they trust me or u ?

lets wait and see about the PP when more info is available

Just confirmed that MTNI and some Nigerian shareholders are selling offering the shares for sale via private placment. Not sure the details are firmed up. Minimum is $10m for financial institutions and $5m for others. Total amount is in the range of $300m and $1bn. IBTC to be the issuing house. Offer to open 7th of December. Prospectus also not yet out.

Trustees will be formed by most companies to pool resources together and form an investment vehicle

wanaj0:

Just confirmed that MTNI and some Nigerian shareholders are selling offering the shares for sale via private placment. Not sure the details are firmed up. Minimum is $10m for financial institutions and $5m for others. Total amount is in the range of $300m and $1bn. IBTC to be the issuing house. Offer to open 7th of December. Prospectus also not yet out.

Trustees will be formed by most companies to pool resources together and form an investment vehicle

thx for the info, pls keep it coming

@ easimoni, thats what i wanted to talk to you privately about. im not sure you saw my post, crusader is rumored to have paid heavy cash for one of the airlines that crashed last year, they were just forced to pay recently. just found out today and not sure if its true, im out tomorrow men.
hope to get access or beta glass

@aktopgun

Japaul is come and gone.

Good offer with bright future.

Still worth buying at 6.02 Naira, the suspension price.

Heard they wanted to pull the offer, as oil majors wanted the lot, but SEC will not allow.

I bought into it and would have bought a lot more but for cashflow problem.

Samstone4

@aktopgun

Japaul is come and gone.

Good offer with bright future.

Still worth buying at 6.02 Naira, the suspension price.

Heard they wanted to pull the offer, as oil majors wanted the lot, but SEC will not allow.

I bought into it and would have bought a lot more but for cashflow problem.

Samstone4

shigidi:

@ easimoni, thats what i wanted to talk to you privately about. im not sure you saw my post, crusader is rumored to have paid heavy cash for one of the airlines that crashed last year, they were just forced to pay recently. just found out today and not sure if its true, im out tomorrow men.
hope to get access or beta glass

@Shigidi
You still think it's safe to enter access at 20 naira. Looks high to me.

@ all

the current on the thread is a bit blue because of the crusader results . I am neck deep into the insurance stocks , so i feel your pain. My take on the situation is not to rush out of crusader if you have a medium to long term horizon. As an insurance proffessional , this is always a real possibility in the sector , this is the type of systematic risk that you have to take into account and the best way to deal with it is to hegde your risk position by spreading your position in the fundamentally sound insurance companies.

If you in for the short term ,by all means take your profits , however small and move on. But if you have a longer time horizon , when crusader takes a hit buy more , and spread your risk by buying other insurance company.If the charge issue, as per Crusader is true , it exemplifies the peculiarity of the insurance business.

as regards the Mtn PP , make i to play lottery this weekend , maybe i go fit win 2 million greenbacks . Na Very VERY private lacement , indeed .

@Rob-roy
--------------------------------------------------------------------------------
MUTUAL BENEFIT ASSURANCE PLC            
UNAUDITED Q-3 RESULTS FOR THE PERIOD ENDED SEPTEMBER 30, 2007            
PERIOD   2007   2006   ABSOLUTE CHANGE   %CHANGE
GROSS PREMIUM (N'b)   1.71   1.44   0.27   19.0%
PBT (N'm)   728.55   886.10   -157.54   -17.8%
TAXATION (N'm)   72.86   18.98   53.88   283.9%
PAT (N'm)   655.70   867.12   -211.42   -24.4%
* Means Decrease & * Means Increase            
Net Profit Margin   38.37%   60.38%   -22.0%   -36.5%

Can all gurus in the house please educate me on this financial statement. My understanding is this is the result for the past 9months of trading (january till September 07). how come the 2006 Q3 result is the same as the YE06 PAT figure as shown on their website of N867M.
if PAT for the last 9months is 655.70 as release then i think it is safe to assume they can still make N867M PAT for YE07, which would not be loss compared to the previous year but a lack of growth. The NigerianSecurities valuation page has current PAT as N867M but this is actually last yeatr end result.
guys please lets do some number crunching before i jump out of a window here. all comments welcome. am sure am not the only one confused with the results of MBenefit.

@ toybanj, access is expensive at 20. im hoping it will bleed and lose some fat tomorrow

@Allcorrect

@everyone

Sorry,don't have no spreadsheet thingie.Was a different matter entirely that I mailed @kuksie.

Was kinda flattered,though.I've promised miself to step up to this "spreadsheet" level in this our stocks-picking biz !

shigidi:

@ toybanj, access is expensive at 20. im hoping it will bleed and lose some fat tomorrow

Will sell my Nigerian German to you.

Hope you are watching Longman

@Wanaj0
Is it time to start thinking of exiting NigeriaGerman. Bought over 4 months ago. Made a good healthy margin Pls check your SMN in-box for a PM
thanks

@D'Wanajo,

Looking at Dangote sugar for mid-long term. what is ur take on this?

Hi Guys,

A friend of mine just called me now to inform me that he registered with a broker just of recent and  through the broker he applied for CSCS# but the number which the broker sent to him was not alphanumeric but numeric.

I told him that this could be the broker's clearing house number but he said the broker told him that the number was correct.

To everyone in the house, is there any CSCS# that is not alphanumeric?. Please I urgently need answers to this question so as to know what to tell him.

Peace.