ckenneths:

Can somebody help me with the accurate no of shares owned by these three insurance companies, LINKAGE, WAPIC and CORNERSTONE?

Ckenneth

What I have is this for the following requested insurance coys:

Linkage Assurance  (4.1bn) (They did an offer which was 31.76% subscribed)
Cornerstone[b] (5.1bn)[/b]
Wapic (4.2bn) extracted from the MD's recent public statement

Can someone pls dissect the AIICO prospectus. It is here attached.

easimoni,

So should one remain on board to be included in the proposed reconstruction in Intercon or take leave before the TS slams?

Your technical Analysis is superb.  Thanks for sharing.  And you and Pumping and others always share.
Regards, as I expect your reply.

Have we abandoned COSTAIN and AIICO?

Do your own homework. Once you take position in a fundementally sound stock, you need not fear when price deep rather you even see as a buy opportunity to accumulate. That is why I will always go for the Roughcut, WanajO model - FUNDAMENTAL, that's it, unless you want to play a fast one which undoubtedly doubly risky!

Gents, i hear there are lot of public holidays coming up soon in this December.  How do you think this will affect the Stock Market in terms of prices?  Do I sound stupid?  Muslims will have theirs on Friday 21st and Monday 24th and the rest you already know.

Will GDR affect Diamond bank in any way - positive or negative?

The cash on hand is not fitting the small size of my pocket, hence these questions as I am intent on placing a buy order. Regards

CKENETH YOU ARE REALLY WELCOME, YOU WERE AND STILL REMAIN A RESPECTED GUY ON THE SMN

Thank God light don come.  Den don put diesel for the generator!  It is not a question of owning generator, it is whether or not you have fuel or diesel to power it!

MAY BE THE MARKET SHUT DOWN IN HONOUR OF ZENITH OFFER. Just kidding. The FG has announced that the nation should expect a massive black-out, maybe it has started and there is no electricity in NSE. Talk of political virus!!!!!!!!!!!!

Nigerian Breweries 9 months result.

Turn Over

2007 77,496,000
2006 61,538,000

PAT
2007  12,033,000
2006   8,951,000

Where do you think the price is headed, going by this result?

Comments are welcome.
Regards

yodiyokun:

For goodness sake,

Is Nigerian market this deep? Every offer is oversubscribed - Everyone is just buying irrespective of the profitability of the company. Its ridiculous.


Anyway Lets see how it goes sha.

I MUST TELL YOU my brother that Nigeria market is very deep.  The POs are being oversubscribed because information about the functions of the NSE is still very scanty to many, many people.  What I mean is this, MANY NIGERIANS think you can only buy shares when there are POs for sale.  I can tell you that no fewer than 20 of my colleagues are still complaining to me how they missed the First bank PO, and when I asked further I realized that many had thought that one can only buy first bank shares only when it is on 'SALE", i.e. PO.  And there are many, many people in that category.  The last one I spoke with was a lawyer, when I told her that you can buy and sell shares even within three months, she exclaimed.  She had only just been buying don't even know that the certificates are important documents.  She said she was told that shares are for long term, say 10 to 15 years!  And after such a long time you can go to the bank and tell them "I have bought your shares, please check your register and they will give you the money back'.  Omaseoooooooooooooooooo

ololufemi:

@ All,

News on yesterday's activities. Sorry its late but was busy


The Stock Market - 291107
Posted Thursday, November 29, 2007


The All–Share Index fell a further 89 basis points by the end of the day’s session.



The Insurance sector appeared the most actively traded in terms of volumes as International Energy Insurance led the list for the third consecutive day with over 126 million units exchanging hands; a rally looked possible at market open but glutting offers led to a 2 kobo loss at the end of proceedings.



NEM Insurance was next on the volumes list with 68.5 million units, as shareholders capitalized on a hold-back on offers; it closed with marginal gains.



Anticipated profit-taking shook Intercontinental Bank during the session as it succumbed to a 4.3% price correction (a likely trend upcoming sessions).



Access Bank seemed to be on a rebound but off-load by a major market player caused it to shed 2.8%. Expectation of a technical suspension lifting of FCMB saw speculators positioning for a possible price appreciation. It closed with 3.1 million outstanding bids.



In the food and beverages sector, a buy mandate on 7up lifted the price 4.9% while sustained interest in Cadbury gave it a 1.4% push. NBC, despite available bids, only attained marginal gains whereas Dangote Sugar’s see-saw trading left it relatively flat.



Market Information provided by: Afrinvest (West Africa) Limited





Second News also



Dealers Perspective 271107
Posted Tuesday, November 27, 2007


The market further declined today by 88bp. Skye bank and Equity assurance closed on bid whilst majority of insurance stocks regained momentum after reaching their resistant levels last week.



The banking sector bounced back to regain it position as the most active sector accounting for 48.71% of the market volume.



Return monies from First bank and monies released to insurance companies (hitherto held on escrow account with the Central bank of Nigeria) that scaled through the recapitalization hurdle may be the reason for the bullish trend in the banking and Insurance sector.



Momentum traders may continue to drive the market upwards in the coming days, but our opinion is that most stocks in the market are overpriced.



Index declined on 14,180 trades. Average size of trade was $5,700 with total value of $55 million. Market cap closed at $77.73 billion.



Overall there were 56 gainers, 47 losers and 35 unchanged. Banking sector accounted for 48.71% of the market volume.



International Energy saw the highest volume traded in the market for the day. Skye bank, Equity assurance, Intercontinental bank and Unity bank also closed in the top echelon.



* Net Bid Skye bank, Equity assurance, Ecobank, Japauloil, and Intercontinental bank.

* Net Offer, Fidelity bank, International Energy, Wema bank, Afribank, Zenith bank and * UPL.

* Top Gainers AP, JBERGER, UACN, OKOMUOIL and INTERCONTINENTAL bank.

* Top Losers NESTLE, WAPCO, ASHAKACEM, FIRSTBANK and UBA.

Femi,

Thank you very much for this news. Unfortuntely,with the system I now use, I hardly, if ever receive external mail, and so have lost out on the CSL daily market report. Could you do me a favour please. Could you be so kind to post the daily market reports from especially CSL beginning from TODAY, it shows the stocks on BID and those on OFFER. The information helps me a lot, and it also posts COMPANY RESULTS as they are released at the NSE.

PLEASE CONSIDER THIS A SPECIAL REQUEST.

Before I make another appeal LET ME SPECIALLY WELCOME BACK WINDY WENDY, you are especially honoured and respected. You were missed. You proved true to your goodself with your recommendation of LEVENTIS.

Now to the other Gentle men and Women,

Could we shift a little further away from ourselves?

Now that Wendy is back and WanajO also back from the UK and Roughcut not currently flying or about to catch a flight, and easimoni too back from his Sabbatical, could we make some stock selections? What I mean is that could they help pick some stocks for short term (say 6 - 12months time frame), Medium term (1 - 2years time frame) and others for long term. And they will help, if they add a brief note against each stock as to the factors influencing their decision. And also suggested entry price. CAVEAT though is ever there. As someone said, afterall the money belongs to whoever is using the material for his decision. That will sure help quench the thirst for some questions that may be lurking in the minds of many lurkers here on the forum. We will ever remain grateful.

This is important because, in a matter of hours December is here and the beginning of 1st quarter 2008 is just a few weeks away. I see the Bull going mental come 2008, just my idle prediction though. I personally do not see the market dropping too low than we are experiencing right now.

REGARDS to you all. Let's get the thread FOCUSED, we all stand to benefit.

WHAT is pushing UACN? Price now close to N50.

PUMPING777


THANK YOU VERY, VERY MUCH FOR YOUR SELF-SACRIFICING SPIRIT. The spreadsheet couldn't have come at much better time.

Once again thanks.

Please keep sharing.
Regards

WanajO,  
Welcome.  I know you had it in 1st Class since the dividend came from 1st Bank.  Just kidding.  That was how a friend bought First Aluminium at over N3 thinking it was owned by 1st Bank.  Still kidding.

WanajO,  Please can you tell me about RT Briscoe and Air Services & Logistics, and C & I Leasing.  I would certainly like to grow with those companies in the 3-5 years.  I am really keen on buying something now.  Sometimes it is a crime to keep one's money.  Remember the season!!!

Pumping 777
You are great asset to this forum.  easimoni, Roughcut (prefer Smoothcut though ), Fatherof2, all of you even, lurkers.  Welldone. With the knowledge I have gathered here, I am helping to heal a friends burnt fingers in TRANSCORP!  He had thought Transcorp would rally after technical suspension, it did rally though but SOUTHWARDS even down to the Niger Delta and beyond the creeks.

Oh men, they thought I knew something about RT and Airservice. Nothing for sure apart from their declared shares outstanding. Heard something long ago about ARM into RT, can't remember the gist.

I am only simply impressed with their continuous growth, average of 50m monthly for RT, for me that is fantastic.

Anyways, I am welcoming the little one to the world of nightmares or hallucinations depending on where the pendulums swing. My friend calls it SWEET TROUBLES!

Why did UBA price drop?  Is it that people are not satisfied with the result or the reward?

If it is because of no BONUS, they would have known that UBA has the tradition of giving BONUS every other year, and since they gave last year, they shouldn't have expected BONUS this year.

For me they are on the right path!

Kudos UBA

easimoni, Roughcut, what do you know about R T Briscoe and Air Services & Logistics?
Please tell a fan of yours here

Hey my request!!!!!!!!!!!!!!!!!!!

Tell me what you know about

R T Briscoe

Air Services and Logistics.

For now ignore today's prices and pay me some attention!!!!!

My dear people please let us shift a bit na.  

Please does anyone have more than the ordinary info about
1) R T Briscoe
2) Air Services and Logistcs?

Kindly keep us all updated.  I am beginning to like them, I no tell you lie!

What I simply mean is that apart from figures, what are the other fundamentals of these two stocks?  I have tried endlessly on my own to find same but no success.
Waiting

wanaj0:

Samstone, I am not a stockbroker. I am a Mechanical Engineer and I practice Engineering. Worked briefly as an external auditor with Price Waterhouse before. So just learning the ropes about the capital market.

Yodiyokun, cooking books is a matter of 'legal' treatment of some balance sheet items. Banks will still have to comply with prudential guidelines. That's why there use to be a lot of 'movements' during the financial end year to cover up lapses during the year.

When Firstbank wrote off N10bn in a single year from the botched IIL deal, some others will juts provide for a part of it saying that the loan is not 'BAD'. So FBN took a hit of N10bn in a single year thus reducing their profit by N10bn for that year. Others may just provide for 10% or 20%. I won't call that 'cooking' of books. I will say it has to do with different philosophies.

Next is the issue of insider related credits. That's the one I hate most. That's my main problm with Zenith. When you grant loans to some people at concessionary rate. It gets worse when the loan now goes bad! That was the problem with most o the banks that died in the '90s. Directors living fat on depositors funds.

The CBN now have online access to the Bank's DATABASE. Good step in the right direction, but once there is collusion, nothing anyone can do! Best systems gets compromised once there is collusion.

First Bank and UBN will always be sitting on cash partly because of the amount in their dormant accounts!!!!! They just feed fat on those accounts.

With competition, any unsound bank will go under easily!!!!! So no shaking!!!!!

SPECIAL APPEAL

I am a long termer and that is where I see I belong. From my readings, WanajO, and indeed the loud and silent gurus, have an invaluable knowledge of any company they is interested in. So Wanajo can you please tell us more about R T Briscoe, May & Baker and Air Services & Logistics. I am currently looking at those companies for investment, trusting that with their stability, one may not need to be checking BP all the time. Seriously what other things do those three companies do apart from the regular stuff such as Toyota products (RTBriscoe), Pharmaceutical accessories(M&B) and Food for passangers on board etc. I find them really attractice, and won't mind their current prices to go into them.

Waiting to read your detailed response, and indeed any response for willing members is highly welcome.
Thanking the house for the education in this mercurial career!
Regards

Company results:

Wema 2.9bn - 1.7bn First Quarter June 30th
First Bank 15.04bn - 10.23bn Half Year Result
IBTC 4.51bn - 3.27bn


ARE YOU STILL IN A HURRY TO SELL YOUR WEMA?

Zenith coming offer:

Rights N36.90
Offer N38.90

RoughCut:

Talking about Zenith noticed they did 74M shares yesterday and i'm talking net bid here. Looks like it might push the 50-mark very soon. I got the stock for N16 and for some strange reasons i still can't explain i didnt sell when it went to N68. So hopefully it should crack 50 very soon then i can cash in and re-enter again when it dips. Long-term stock to HOLD by the way even if you take profit go back in again when things have subsided a bit

WanajO,

I always like that your style. When you are convinced you do not hide your feelings. You speak very passionately about Flour Mills and you are right. Now how far in the next 6months to 1year do you think Flour Mills can go. Remember AP, a few analysts told me some months ago that AP is a N90 - N100 stock, they have been vindicated now, you can see it is N106.90 from N60+ just a few weeks ago. Do you see Flour Mills following this same trend? Their business diversification tells me much of how they do not want to take a NO for an answer in their aggressiveness and resilience!

RoughCut:

UBA has never been my cup of tea and i'm not about to change that habit now!

Roughcut,
How you dey? Please, this seems a little diversion. I see that you have this strong faith in C & I Leasing and so do I. What more can you say about their potentials? Can you see it as a N12 or more Naira stock in the next 1 to 2 years. Their profitability is in multiples these days. I would particularly like to read you on this stock. Regards.

I have some 500,000 units of UNTL shares to offload. Any buyer? Just kidding Anyways AP don reach 101 today ooo. What is going on there?

Wanajo,
Your price take on your choice insurance stocks is a great one. Serves as a guide for many, whether trading or investing. Thanks. But for those who have lumped so many units at a higher price, take heart. It is the turn of the Insurance sector to surprise us this time, not the other way round. You saw what LAW UNION has done? Many great things are in the offing.

Hello all,
Please i need a good stockbroking firm recommended for me. I want to start investing in shares(especially trading on the floor). I reside in PH and want to start with Between N50K - N100k.

Thanks.

[/quote]  Will time tell?


For me, it is easier to recommend a girl as a wife than to recommend a stock broker.  Are they really different in their service delivery?  What seems different to me is the KIND OF ACCOUNT OFFICER attached to you or you chose on your own based on personal understanding.  WHEN WILL THEY IMPROVE?[quote author=ceceters link=topic=31554.msg1591605#msg1591605 date=1192622716]

Thought GTB half year result is due? Should we expect it this month? Is Bank PHB pursuing GTB? What with their first quarter results of N3.5b, N3.5b? Many things are happening

Gentlemen: WanajO, easimoni, and Co

All that you guys have said about BONUS are very, very correct.

Why, though, I said AIICO is generous is because even when they were gradually returning to profitability, in their last year rewards, they also gave 1 for 6 bonus. So in good and bad times, they give what majority of Nigerian investors prefer - BONUS.

So as their performances continue to improve, their shareholders who have been loyal to them stand to benefit.

But the wahala with BONUS is well seen in the case of Nigerian Breweries. In discussing here sometimes it is good to know what tone to employ, because, SPECULATORS (traders) and LONG TERM investors can speak in disparaging languages sometimes, you will agree. GOOD NIGHT GUYS

easimoni,
Where is it that 'bonus' don't mean anything? Is it in NYSE, LSE or NSE? To bring our discussion to reality, in NSE bonus mean EVERYTHING. Otherwise, how come it drives the prices in most cases beyond the roof? If Dangote Sugar was giving quarterly BONUS where do you think the price will be by now? True, bonus may mean nothing, but in NSE it is not seen that way. I think market psychology is also a factor to consider when trading in stocks!

hI WanajO,
With all due respect, if AIICO was giving BONUSES when they were not doing well profitably, it confirms my statement that they are GENEROUS. Unless you are saying the word GENEROUS has suddenly changed in meaning. If they were doing well and were giving bonus that would be a different thing. Here they were not doing well, according to you, and yet they were giving their shareholders bonuses. Are you saying if they return to profitability, they will withdraw those bonuses? I don't think so, hence I MAINTAIN that AIICO is GENEROUS. Regards

My Peace,
If not for the hyperactivity at the Primary Market and the non release of the insurance funds in the Escrow account with CBN, Crusader should be trading in the region of 7-8 naira by this time.  So at the current price of between 4 - 5 Naira, it is ok by me.  Indeed my average pile up price so far has been N4.52.  And yet NO SHAKING.  

It is rewarding to believe in what one is doing.  My philosophy of life is BE GENUINELY CONVINCED IN WHAT YOU ARE DOING AND THEN THE RESULTS COULD BE EITHER WAY.  In that case I could proudly tell myself "You have acted rationally afterall".

I bought some 100,000 of LASACO at N3.75.  STILL NO SHAKING.  I heard someone shouting that he/she bought LASACO at more than N3?  Why?  You need to do your home work before buying into any company.  You buy the COMPANY not the units.  What is the company going forward?  That for me is the most important question.  A company may not have been doing well in the past etc, but having now rebranded and with accompanying results, what is the company going forward?  Some of the insurance companies are seating up now, soon it will become unavoidable for them to aligned their practices to global best practices as it now happening in the banking sector.  GTB is now on the London Stock Exchange, after passing through very stringent rules.  Last year it was not there,  GOOD TO BE POSITIVE AND REALISTIC.

to Add Others are:

Custodian & Allied (six months result = N435m)
NEM (six months result = N213m)
LAW UNION (six months result = N274m)
NIGER INSURANCE (Six months result = N354m)

Others I am not very interested for now

My Peace,
Sorry, my last statement in my earlier post concerns ONLY CORNERSTONE, not Mutual Benefit, Crusader or others. Cornerstone is a great insurance company relatively speaking, but their profitability has not been impressive like its peers. For instance here is their performances so far:
MUTUAL BENEFIT (six months result = N448m)
CRUSADER (six months result = N593m)
WAPIC (Though no result yet, but they are expanding even beyond the Nigerian shores)
AIICO (recently merged with two others, and promises to do fine, and they are generous with bonus and dividend)
Cornerstone (six months result = N276m)
Staco (six months result = N301m)
Standard Alliance (six months result = N301m)
Sovereign Trust (six months result = N222m)
LASACO (Six months result = N560m)


This is what I have personally gathered from my findings about them. Although they all do not have the same figure as their shares outstanding, but you can even see that Staco, a new comer to the market did better than Cornerstone in their 6 months result. Methinks their profit results matters in one's analysis.

I can only say what I have in my portfolio. And these are the ones I have personally done my home work on, and they are:

[list]
[li]Crusader
Mutual Benefit Assurance
AIICO
Custodian & Allied
Wapic
Cornerstone [/li]
[li][/li]
[/list] (Long term in view, because before the foreign investor into it, though large, but was not profitable)