₦airaland Forum

Manonamission:
Only the parent company (Etisalat) converted to equity. Other investors are not forthcoming. Mubadala wants out. Nigerian investors group probably don't have money for bailout. Banks are not interested in the equity option, hence the reason for the take over. They want their money back.

After writing my opinion above, I contacted someone to help confirm their profitability and shockingly they've declared a loss for the last three years 2015, 2014, 2013 consecutively. Increasing losses. This is quite shocking because the same person confirmed that other telecoms providers have been profitable over the same period (which is why I assumed that they were also profitable) Besides they are a connectivity service provider to where I work and their services have been pretty reliable compared to their contemporaries hence my assumption...

So your statement about Mubadala wanting out must be right. Hmmmm...shocking...

ExLaidback:
http://www.premiumtimesng.com/news/headlines/234571-breaking-n541-billion-debt-access-bank-others-take-over-etisalat-nigeria.html

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This is a big win for the lenders in this case and so reasonably good for their mid to long term stock price. I'm speaking as an outsider.

This is simply because, Etisalat didn't run into a blind spot because of bad profitability or operations per se. It found itself in this bind primarily because it was unlucky to have taken a dollar denominated loan shortly before the dollar was devalued. Right? So the company by and large is profitable - especially now that they no longer have to pay interest on the loan since it has been converted to equity.

So in the interim the lenders have a source of cash flow while they scout around for new buyers (note that they are not likely to hold onto Etisalat since they don't necessarily have the expertise to manage it). They're also likely to sell it at a profit. (since as i said above, I believe that Etisalat is still a profitable company).

The point I'm making in essence is this would have been an entirely different story IF Etisalat's indebtedness was due only to poor management and not unfortunate circumstances.

So the major losers in this deal are the previous owners who've lost hold of the company.

However my take as outlined above only holds if the new owners allow the current management to manage the business without undue interference and so on, unfortunately this is Naija...So I might be wrong


Update: Apparently Etisalat has been declaring losses over the last few years. Shocking. Bad management?

http://www.premiumtimesng.com/news/headlines/234571-breaking-n541-billion-debt-access-bank-others-take-over-etisalat-nigeria.html



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holm:
The bolded invalidates criminality but confirms that all platforms are challenged, in various or different ways. Morgan, Meristem, T.., In.... etc.

I have a very good response that invalidates your statement and shows its weak premise, but I didn't come online to argue or win arguments. I came to trade. Cheers bro.

taiwobaloo2002:
Very reasonable critique of MorganCapital, i spoke with an insider and he informed me that the problem is from their host, i can't confirm that but if that's true i do not expect them to come out and say that.

My brother 0.25% is not a "yeye" low charges. They are a brave stockbroking firm but they need to get thier acts together. It could be dangerous for them.

My brother I agree with your statement. 1.55% is not yeye Lol. - especially for JIJOis t like me. But trust me with better customer service and a highly responsive real time platform, you'll get used to slightly higher charges with time and even forget it exists.

gambei:
Have you not been in a bank where the most irate customer gets attended to just because of his behaviour? Again this is Nigeria. Rants have their effects. Nobody likes controversy. And again my man is just alleging, it's not like he swore with a bible

No leave them. Those of us that are complaining don't have anything better to do in a very bullish market like this where every minute counts, so we prefer to just sit and concoct accusations against another entity. Anyway all that is irrelevant now, to each his own. I'm not here to win arguments online but to trade and learn.

Look at now trading has started and those of us in Morgan are spectators while others make money yet their excuse for being down is very flimsy. More so they are not picking calls else I can easily withdraw some cash, credit another of my brokers and get into some trades.

Saying we should not complain on this thread when it is about issues relating to a broker is a very funny statement to make.

Those of you defending Morgan Capital it is clear you've never really traded with them OR at least you're not doing so significantly right now.

The only reason why I'm still with them is their highly responsive platform - not even their yeye low charges. I left them briefly last year (during their suspension) and joined Meristem who by the way have way better customer service, but I had to go back due to the un-responsive and seemingly delayed nature of Meritrade.

No amount of accusation is too much for them because their sins are too many. I'm an IT person, so let me assure you that their excuse of technical glitch is hogwash. Only a very un-serious, and I mean very very un-serious private financial enterprise will suffer a technical glitch lasting days - especially at a time like this - escept of course they know something we don't. Even Nairaland I'm sure we can easily count how many times in a year it goes down.

If it's not their mails bouncing back, it's them not updating the account statements on time or making posting errors on account statements or refusing to pick calls, or refusing to effect cash withdrawals in a timely manner etc etc.

No one has been able to point me in the direction of another broker with a platform as responsive, interactive and real time as itrade. That's the only reason I'm still with them.

Anyway if by start of trade today they are not up, I'm withdrawing the cash I have there this morning and transferring it to another broker, I ain't missing this bull, rain or shine.

Please is it my system or is Morgan iTrade down?

If by any means they are down, e no go funny o

kolaish:
call 08097016905 (OLUCHI), or 0812417960 (LANRE).

Thanks I've spoken with them.

chunkuli:
try 013429613

Thanks, I have already tried that one too

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Tritri:
There are similar platform but all this NIGERIA BROKERS all have there Issues ...

Na wa o.

I'm getting really really sick and tired of Morgan Customer Service. How can your email system fail every other day, meanwhile you only answer phone calls when you feel like.

I just wish another broker will come up with a similar platform even if with slightly higher charges.

As per Fidelity, I'm expecting the rally to continue even on Thursday as that's the last day before closure of register. Also even if it appreciates 10% daily up to N1.21 on Thursday, the dividend yield is still good at about 11.6% and still better than most dividend paying socks right now including FCMB. Also since it was somewhat undervalued at less than N1, it may recover and maintain a price above N1 even after div and mark down - another reason for it to rally up to Thursday.

The real koko will be with it's Q1 results. Just my thoughts.

Disc: I sold some of my FCMB to get in here.


Kindly note this is not a buy or sell recommendation.

Look at fIdelity doing what was expected of FCMB. SMH. It is well


Anyway it's all part of the beauty of NSE

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duni04:
Bears you mean.

Sorry I meant bears.

The way I see it, only a good 1st QTR result can provide some respite from the attack.

FCMB dividend declared is a disappointment. I trust NSE bulls to finish that stock. SMH

fxuser:
CBN drops invisible rate further
naira will continue to rally this week

This is what I was discussing with a friend over the weekend, why still peg it at N350, when so far it has shown signs of dropping further if the trend continues. Where did they even get the N350 figure from as the true value?

afo7219:
I'm so sure u will believe u have said somtin reasonable.I don't have to join issues wit u.##smh

You can move very far away. While at it, please tell your ilk who don't have anything useful to contribute to the forum to stop antagonizing those who make an effort.

BullBearMkt:
BullBearMkt provides you with strategy which can be easily verified & tested if it works. I rest my case.

Frankly except it's a joke, only a silly person will equate you with that moniker. It's why I say most people here don't know what they are doing, both old and new. And even when reasonable info comes they still cant tell the difference.

$$$

Diamond bank sabi fly sha even with their yeye fundamentals. When it wants to move, it moves.



$$$

DeRuggedProf:
Once you see GTB under N20, do not look for me on that day here, I will be very very busy doing the needful and my face will be covered with GTB's ORANGE BLOOD....

Murderer

kentoto:
you forgot the interim dividend already paid,.

Una done chop forget sef,

k

Princkez:
20k interim was paid last year

ok i thought you were referring only to this

Meanwhile this GTB result has renewed my confidence in FCMB. Just like GTB they made huge loan loss provision in their 3rd qtr. So impairment charges in 4th qtr cant be higher than that of 3rd qtr. With an audited EPS of 87k in 3rd qtr, expect an EPS of at least 90k for FY2016. Even if they pay out only 20%, that's still a div of about 18k, and if they pay out 15%, that's a div of about ~14k.


Abeg if the price like make e crash make I buy more.

This is not a buy recommendation o, my investment outlook is different from yours so pls do your own DD. In fact I wont post anything about FCMB again (I really don't like over-hyping any stock, cos if a stock is good, it will prove itself in due time).

kentoto:
People,

whats up with UBA, its showing no direction for now, any hint on when results could be out? i expect a 50k dividend as the least. That is a 14% yield which will be the highest for now,

All other subsidiaries in the group except Transcorp have paid something, i expect UBA to drop their own too.

k

50k dividend from UBA at the current price is a roughly 10% yield

ExLaidback:
The same hope I had by this time last year when i was still a complete JJC, on the same FBNH, but ended up selling to cut some mega losses after my eye clear. Lost several other much better opportunities like UCAP onto waiting for FBNH to perform magic. Some guys where cautioning me with tangible reasons I no hear. Anyway make we dey see, no one knows it all

After all some stocks enjoy sentiments from NSE much more than others, so maybe all the market is waiting for is just to see considerable improvement in the result, with or without dividend in order to rally the SP - just like Nestle.

DeRuggedProf:
HOPE is one of the very worst TOOLS for making an investment decision....

The same hope I had by this time last year when i was still a complete JJC, on the same FBNH, but ended up selling to cut some mega losses after my eye clear. Lost several other much better opportunities like UCAP onto waiting for FBNH to perform magic. Some guys where cautioning me with tangible reasons I no hear. Anyway make we dey see, no one knows it all

OBAGADAFFI:
This FCMB delay looks suspicious.

It is actually, but no cause for alarm yet.

locodemy:
Dont worry,very soon we go begin dey do inyanga like turkey(torotoro)
Fcmb doing us proud.

Amen o!

Frankly if FCMB result exceeds 15th of this month or is still delayed after GTB and UBA (i.e. the last two banks likely to release good enough results) releases theirs THEN would I downgrade them on my portfolio and prepare for the worst. Until then, it's well...




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Tritri:
This una supporting data or analysis na wa ooh..Make person no talk him mind again..No forget na Social word . ..na so dis Angelo take online matter dey abuse him UNCLE.

Bros no be set rule o, just as Monkey Hunting is frowned upon here, so should unnecessary bad mouthing of a stock na. Abi how you see am. Or no be you dey complain of loosing money? it's due to kalu kalu and guess work and panic and propaganda being peddled by trusted people...thats what I'm against

If person no sure of wetin e dey talk, maybe it's just a hunch, say so instead of forming insider or wall street analyst without an iota of data or history