₦airaland Forum

Singapore Becomes China Currency Swap Hub

Singapore Becomes China Currency Swap Hub China and Singapore doubled a currency swap agreement to 300 billion yuan (US$48.3 billion) after the city-state became the third offshore center for the yuan last month. Under the new arrangement, the funds will be available to eligible financial institutions in Singapore and those operating in China for a [...]The post Singapore Becomes China Currency Swap Hub appeared first on Live Trading News....

http://africanfinancialnews.com/+/singapore-becomes-china-currency-swap-hub

Qatar Picks Sarkozy To Lead Wealth Fund

France's ex-President would take a non-executive role to help direct where to invest $650 million.The post Qatar Picks Sarkozy To Lead Wealth Fund appeared first on Gulf Business....

http://africanfinancialnews.com/+/qatar-picks-sarkozy-to-lead-wealthfund

Sovereign wealth funds to hit record $5.6 trln by year end-study

LONDON, March 12 (Reuters) - Sovereign wealth funds (SWFs)

are set to see their assets grow to $5.6 trillion by the end of

2013, a study found, a sum more than double British GDP and

underscoring......

http://africanfinancialnews.com/+/sovereign-wealth-funds-to-hit-record-56-trln-by-year-endstudy

IFC Funds Construction of Vitafoam’s Sierra Leone Factory

VENTURES AFRICA – The out-going Chairman of Nigerian foam manufacturer Vitafoam Nigeria Plc, Samuel Bolarinde, has disclosed the International Finance Corporation (IFC) is financing Vitafoam to construct a new factory in Sierra Leone, which will see it expand operations across West Africa. Though the amount of the finance was not disclosed, Samuel Bolarinde said: “The [...]

http://africanfinancialnews.com/+/ifc-funds-construction-of-vitafoams-sierra-leone-factory

Nigeria: QOS - MTN Targets Seven Million Subscribers With N248.5 Billion Investment

[Leadership]MTN Nigeria is investing $1.583 billion ($1.5 billion) to expand and build an Internet Protocol (IP-based) network as it plans on adding seven million new subscribers thereby taking its mobile subscription haul to 54.4 million by the end of 2013. The money will be invested on expanding its microwave and fibre optic backbone projects and new sites....

http://africanfinancialnews.com/+/nigeria-qos-mtn-targets-seven-million-subscribers-with-n2485-billion-investment

Kenya plans investment index for counties

The Kenya Investment Authority intends to develop an index that would guide investors to opportunities in the 47 counties....

http://africanfinancialnews.com/+/kenya-plans-investment-index-for-counties

Where can i access C&I leasing 940 million 18% corporate bonds prospectus. Thanks in advance

Obafemi Awolowo
Jack Welch
Adeola Odutola

Born 2be Rich: The only thing i can say is "fly wey no dey hear word go follow dead body enter grave"

valacious: @courage 89, dont go near international energy insurance..their last result was a whooping loss.

If you guys look closely, you will realize that their 4.7 billion loss was for fiscal year 2011. Majority of these insurance coys have a lot of write downs due to their activities in the previous stock market crash. I think what they've done was to write off a lot of their bad assets to pave way for new year 2012, 2013 going forward. We haven't seen their result for this year yet, but I expect it to be at par with some of these trade-able insurance coys. I own some units, and i expect their stock price to move northward once they declare result. Lets wait and see

King Solomon I: We dont hate the truth....we know the truth....what's the way forward?

If we know the truth and you have recommendations, how come the people left with implementation are not doing just that. The implementation of ribadu's report is still on hold, INEC restructioning report is still there waiting for full imlementation. So, i will add to your statement...
"We don't hate the truth...we know the truth, we have recommendations, whats the way forward?

What do you guys think about iei?

jideflash: using my layman analysis of quoted companies results and trends, i came up with this portfolio for good marginal growth for short-medium term investment;

nahco
aiico
uba
OANDO PLC
eterna
nascon
courtville
fbn
CUSTODYINS
ccnn
nem
okomu oil

please advise and drop comments

I like okomu, custodyins and aiico.
Okomu- because of its exposure to oil and rubber. They have the best fundamental in their industry.

Aiico and custodyins - nice 3rd quater in comparison to other insurance coys.

Guys, whats happening to wema bank...it looks like its on a bid again. I've been trying to get the stock for the past 1 week now. It looks like the people that drove the stock to 1.88 from 0.92 within 2 weeks are at it again.

Kamsy10: I think they should verify that the guy is Nigerian first before they conclude cos people form other countries might pretend to be Nigerians when crime is involved (making the name Nigeria a synonym for crime). I dont want to believe every crime must be Nigerian.

For all you know, he might not be a NIgerian. I dont think getting Nigerian passport is easy
RIP to the dead. Thats so sad

I agree...this guy looks like he's from kenya

question: Was it at (1 ETI for 14 Oceanic)? Please check for me.

I bought the then Oceanic IPO shares just before the 2008/2009 crash. Wonder why my CSCS a/c has not been credited.

I think it was 1 ETI shares for 10 oceanic. Did you log in your oceanic shares into the system after the IPO?
Check with your broker to find out why your account hasn't been credited.

question: Stock gurus, does anyone knows if former oceanic shares have been converted and credited in shareholders CSCS a/c as Ecobank shares(1 is to 14)?

Yes, they did. I have mine credited already.

It depends...are you investing in real estate to profit from cash flow, risk mitigation and price appreciation? If so, the returns can be greater than stock market. If you're only thinking price appreciation, then i will invest in the stock market.

These people built these plants at exhorbitant prices, gave us operating manuals written in their language, operated these plant for years, ...now they're buying these plants for peanuts. I wonder when we're going tolearn as a country.

pro01: GEJ for 2015? Non-negotiable. That's my opinion.

Why should people vote for GEJ?

chaktty: investors are at the safer side with ftn cocoa than c and i leasing. I can say categorically that c and i leasing tend to deceive investors as my analysis reveal that the money flow in this stock is from the company. They are buying their shares either directly or indirectly. This does not mean the stock will not fly but you should be alert. Any way, they cant withdraw their money and investors are falling in. Human psychology being played on investors.

What kind of analysis are you doing to conclude that ftn cocoa is safer than ci leasing? Technical or fundamental analysis? Assuming you are basing your analysis on fundamental, what parameters are you using? Can you share.
Based on my analysis, i believe ci leasing is stronger than ftn cocoa. Look at their respective 3rd quater results.

mercylicious: My people,
Ftn cocoa and C&I leasing just jumped to 56k today.
I have placed my order for C&I leasing (though i placed late, my acnt officer delayed).
I researched the company and their result is not impressive. They have a lot of debts,also their profit dwindled in their 3rd quater. Does anyone know the news that is pushing the price?
@all that have joined, what target price is feasible?

As i have stated before, even though they have a lot of debt, their 2 billion naira in short term asset should be able to cover that. Also, when you look at their total asset minus total liabilty, you're still left with about over 2 billion net. This is about 4x their market cap. Based on that, i think the stock is still very cheap.

My reservation is that, what have they been doing with their profit in the past couple of years? Their income statement said they're profitable. No bonus, no dividend, nothing. Also, their debt is still a source of concern (not a big concern) because we dont know the structure of their debt. Sometimes, when you have high interest rate, short tenor and other issues...2 billion will not save you.

Also, the negative wc can be attributed to the nature of their business. Considering they lease majority of their working/ leasing assets.

sellydion: Well the company is bedevil by debts:
1.Negative working capital
2.Negative cash flow
3.No bonus
4.No Dividend

The stock price may still move, in the hands of market makers. It is not my kind of stock. Others may have something else to say.

You're right; the negative cf, negative wc, no bonus and dividend turn people away from the company. But, the more you look at others issues at this current price, the more it makes you want to have a rethink. For example, the company is currently holding about 2.7 billion in cash and bank balances while the market cap is merely 433 million. Also, the company's net asset is 2.1 billion. When you compare that with market cap, it clearly shows the company is worth more.

What do you guys think about CI Leasing. 3rd quarter EPS and PE ratio is around 0.2 and 2.54. Im wondering why the company is still trading @ N 0.50?

jamace: Where is First Bank PLC? I don't see it on daily stock prices anymore.

They are now called FBNH

ihedioramma: I DONT UNDERSTAND. I HAVE THE SHARE FOR SIX MONTHS BEFOR 31DEC 2012.WILL DAY GIVE ME OTHER COMPANY SHARE OR WHAT? DID DAY BUY ANY COMPANY SHARES ?AS ACCESS BANK BUY ONE BANKS SHARES AND SHAREHOLDERS?

If you've held your shares 6 month before dec 31st, then you should be eligible for those other company's shares.

No, they did not buy other company's shares.
UBA Plc operates other businesses that has no relation with banking, their core business. Based on the new CBN rule, all the banks have to divest their non-core businesses. They can either sell down their controlling interests in these companies, or spin off individual company so that it can function as a separate entity. UBA has adopted to spin off these companies, and these newly spun off companies will be listed on NSE later on.

The case of Access and Intercontinental Bank was a merger, where two companies merge together and act as one. UBA case is the reverse, where one company breaks into 4 different companies and act as a separate units.

Hope this helps.

UBA shares was suspended to effectively restructure the organization and to spin off some of the subsidiaries that does not align with UBA's core business. Those subsidiaries are;
1. Africa Prudential Registra Plc,
2. Afriland Properties Plc
3. UBA Capital Plc

As they come back to business now, you will still retain your 10,000 units of UBA Plc.
Also, if you've purchased your shares before December 31st 2012, you will own part of those spin off companies as well. Your new shares will be in the order below;

1. UBA Plc = 10,000 units
2. Africa Prudential Registra Plc = 303 units
3. Afriland Properties Plc = 303 Units
4. UBA Capital Plc = 1212 Units

This is based on UBA ratio of 33:1:1:4

why are you guys taking this news serious? This info is a wash. It looks like everybody that criticize GEJ nowadays get bombarded with propaganda news just to shut them up. Nigeria i hail

stockbull: Access bank was able to make 80 percent gains since acquired(merger) compared to fcmb with a lose of -17.69 percent. in earning report of the two banks, it shows that access bank profit outweigh that of fcmb even with my internally analyzed spectrum and with PAT( profit after tax) of the last year quarter earning report of access bank that stood at 156 PERCENT while FCMB WAS JUST 33 PERCENT.
let me sound this, that a stock is appreciating is not enough to determine that the stock is good. if we are to look at it from fundamental or stock value perspective. what we see every day on the exchange is just paper record and not really the company performance. the stock increase because you and i make it to increase. if FCMB should make that 30 percent price appreciation, why is it not reflecting in the report compared to access
NOTE
access bank was moving on sideways during the last period of last year and with her top trade, i discovered much people are buying the stocks and now that access is about to sell public offer with a price that is almost 50 percent above the current price. dont you know that stock exchange floor price is always higher that public offer price even though analysst are saying the stock is overvalued to have wanting to sell public offer @ 14.00 but what i will say is that it's better to be overvalued than to be undervalued in this regard and if investors are not happy, why are they trying to position themselves

i will still watch ACCESS vey well especially when people begin to take up the public offer but i would advise you to buy now and not when every body begin to realise this.THERE IS A SAYING IN STOCK INVESTING THAT( EARLY BIRD CATCH THE MOST WORMS AND SOMETIMES THEY FALL TO HUNTER TRAP BECAUSE THE DAY IS NOT YET UNFOLDED)
FCMB is also not bad to invest in with signal the price movement chart is conveying but as i've said earlier, it is better we invest in value stocks at this early stage of the year because i believe analysts all over Nigeria would be looking at VALUE. IN PROFIT FROM PRICES THEORY OS STOCK MARKET, YOU DANCE WITH THE TONE AND YOU ARE NOT A FOOL PUTTING YOUR HEADS WHERE PEOPLE ARE PUTTING THEIRS

I agree with your analysis. Access Bank is a better stock to hold in comparison to FCMB. To buttress your point, below are additional reasons why I think the stock will fair better in the short term and long term.

1. Based on the Acquisition of Intercontinental Bank, the stock is now a tier one bank (Asset, Liability, Perceived risk). It should be trading at the same level as its tier one counterparts such GTB, Zenith, FBNH and UBA. The PE ratio of access bank based on 3rd quarter result is 6.53, while that of GTB, Zenith, FBNH and UBA are 11.74, 10.22,8.63 and 3.95. While every tier one bank's individual perceived risks differs, and might be responsible for the difference in PE ratio. However, I believe the difference should be minimal. There has to be a correction where Access and UBA corrects upward to rank closer to their tier 1 counterparts. While FCMB is not a tier 1 bank and its PE ratio is 9.17.

2. More increase in EPS based on synergy to be recognized from Intercontinental acquisition. Leveraging economy of scale and scope on a broader level has been the primary reason why Access Bank was able to churn out impressive results last quarter. I envisage this cost cutting, revenue growth trend to continue which will continue to drive the share price upward.

3. Another personal parameter that i used is the EPS/Price. It tells me what percentage of my money can come back to me as dividend, an indication of what the company can afford to pay as a percentage of my investment. This is just my own interpretation, people can interpret this parameter differently. When i look at the figures; Access = 15.32%, First Bank = 8.06%, FCMB = 6.96%, GTB = 8.52, Zenith = 9.79%. Because i'm a dividend guy, i'll stick with a company that can afford to pay me over 10% assuming there will be no dilution of any sorts.

In these exercises, i'm only comparing apples to apples, tier 1 to tier 1, and not Access Bank to Diamond bank, because they both have different fundamentals.

glogirl: Thanks TopAnalyst for the reponse. I actually purchased a huge number of UBA shares last quarter. I made the decision based on their impressive 9 month third quarter result. With the current restructing, what do you think will be the impact on the stock price? What would you do?

Hold onto your Units, the restructuring should angur well for UBA shareholders. Just look at First Bank restructuring. The share price has increased at least about 10-15% after their reorganization. I think we can expect the share price to follow the same pattern as FBNH.

Pastor Tunde Bakare

Any politician (in respective of his/her political, regional, religious background) that speaks against corruption, injustice,... and have the courage to back it up with the right action earns my respect any day.

Buhari - President

Fashola - Vice President