NoMoney:


You left out the Other Comprehensive Income of N571m to give a Total Comprehensive Income of N951m.

My problem though is that the profits due to one off items that might not repeat itself in future namely

1)The write back of excess VAT paid in previous years N560m (page 34 of the financials)
2) The revaluation of intanglible Asset N571m which was responsible for the Other Comprehensive Earning

Chams still has a negative retained earnings of N1.9bn so I wonder how they were able to declare 3k dividend for the year.

The company has been in the woods for a couple of years and their latest results does not convince me that they are out of the woods yet

currentprice:


honestly all my oga have said it all negative retain earnings, VAT write back etc need to be considered before taken decision. 5b from share premium was trf to retain earnings thereby reduced from negative 7.6b to 1.9

fairprice look attractive sha based on abracadabra result. my opinion, chams will likely rise first like union diag toward their Q1 result before greedy pple get stuck back to the park

@ yom2

if you call post like dis blacklisted then I wonder what we are doing here.

ukay2:
It seems FPIs are sneaking into NSE

With that GTB transactions I also thought it so or make I ask sey wetin u see.

currentprice:




@ yom2

if you call post like dis blacklisted then I wonder what we are doing here.

oando release one of the best result so far but it also abracadabra results because earnings was attractive due to positive tax.

STOjo:

With that GTB transactions I also thought it so or make I ask sey wetin u see.

Volume

Chibuking81:
Don't take it to heart, am just joking with that word. One love.

Lol. I dont even have the kind of heart I can put such things. Na my crush dey my mind now. Lol.
It could have been GonFreecss1 but not anymore, he's already going on Vac with another person, he doesnt like me.
Though you're not joking but then, wetin coinsain me, I don talk my own I don move na.
One love bitl.

DOLLARTEX:
I have seen the best analyst fail and besides you were not the only one that raised that legitimate red flag,so life goes on.To chibu pls let's move on with this, many opportunities are on ground and many more coming .

Nobody knows it all my bros, its a known fact. You remembered Japaul too, while some feared, some people still made money from it before reality dawns....but are we saying no one should raise red flag where one is sighted?
I bought this same chams but sold it again the day it closed at 21k. I would never blame anyone for it.
Also, this is not about me but about those that took their time to analyze the result and situation. I'm happy you mentioned the red flag too, so you knew you were taking risk there but stood by your decision.
Anyway it is well.

STOjo:
With that GTB transactions I also thought it so or make I ask sey wetin u see.

It was that volume that made me buy uba too, 22M+ sold, too big than to be ignored. The volume sold this week were big on daily basis.

Chibuking81:

Lol, today I will enter all sound fundamental stock, let all drop.

I am not the problem I believed there are members here who serve as village group monitoring my comments in this forums , and I notice that any stock I secretly enter I will make a huge amount of money, but the moment I post any stock I entered in this forum by way of advertising it, they will show up bringing one reason or the other why it must not fly, look at Caverton and Chams, the moment I said I am out of Chams they allowed the stock be, but they are still punishing Caverton, because they still believe that I am still inside.

From today, I will be entering stocks secretly, and making my money without them knowing it.
And will reduce my post, or stay away for sometime, but not out from NSEM.

KARMA is a BITCH!
You got served hot and fresh,
I now expect you go back to your STUDIO and do REMIX of your hit track BONANZA

REVIEW OF FORTE OIL
CHAIRMAN... EMPEROR FEMI THE SON OF OTE DOLLAR($)
INDUSTRY.. Forte Oil PLC is an integrated energy group. The Company operates with downstream petroleum operations, power generation and upstream petroleum services. Forte is engaged in the marketing of petroleum products directed at the automobile, industrial, aviation, and marine markets.

Subsidiaries...

1. Forte Upstream Services (FUS) : [Forte Upstream Services] (FUS) specializes in the supply of Well Production Chemicals and Drilling/Completion Fluids to the Upstream Sector of the Oil and Gas


2. AP Oil & Gas Ghana limited (APOG) : [AP Oil and Gas Ghana Limited] (APOG) commenced operations in July 2008 with a single outlet and a few industrial customers in a bid to build a transnational oil company. Today APOG has grown to viable energy company with its head office within the Accra Business District and a network of retail outletts




3. Ameperion Power Distribution Company Limited : [Amperion Power Distribution Company Limited] (Amperion Power) is the power generation arm of Forte Oil PLC and is the majority owner of the 435MW power plant in Geregu. Amperion is made up of Forte Oil, BSG Power limited and Shangai Municipal Electric Power Company.

Bloomberg key statistics.
Price 27.40NGN
P/E Ratio18.81
Bloomberg (BEst) P/E Ratio91.3333
Shares Outstanding1.3B
Price to Book Ratio. 2.0815
Price to Sales Ratio. 0.2655
1 Year Return. - minus---34.61%
30 Day Avg Volume175,354
EPS. 1.46
Last Dividend Reported. 3.45
Earnings Announcement for Period Ending Q1/2019:04/12/2019
ANNUAL INCOME 2018
REVENUE... N135bil NGN

NET INCOME.... N8Bil NGN
PROFIT MARGIN.... 6.19%


BALANCE SHEET 2018

Total assets... N142 b
Total Liability.... N 78 billion
Debts to assets 13.23%


Cash Flows
Operating. Minus- 8bilNGN
Investing Minus..-1bilNGN
Financing... Minus- 15bilNGN

To buy or not ?
To sell or hold?

31st Dec 2014...The stock closed atN227NGN with volume of 311,186
31st Dec 2015... Closed at N330 with volume of 152,168


30thst Dec 2016 closed at N84. 83, volume traded 315,629

22nd Dec 2017..N43.48. Volume. 34,099
2018 till date (52 weeks range). 16.70-52.55


CLUE.... Nigeria Lubricant markets was forcasted by an Indian marketing and research firm to reach N403 billion NGN. This research was released in Oct 2018.


https://www.bloomberg.com/press-releases/2018-10-29/nigeria-lubricants-market-is-expected-to-grow-at-a-healthy-cagr-and-is-expected-to-reach-over-ngn-405-billion-ken-research
Forte Oil has a fair percentage in the Lubricants market



Why did EMPEROR FEMI otedola decides to divest from Forte Oil to Energy and electricity generation if the business is still viable?
What is the fate of shareholders after femi otedola acquired Amperion power distribution?


https://www.forbes.com/sites/mfonobongnsehe/2019/02/08/nigerian-energy-tycoon-femi-otedola-receives-approval-to-begin-talks-to-acquire-power-assets/#783d9d002bef



https://www.reuters.com/article/us-nigeria-forte-oil-restructuring/forte-oil-to-sell-some-nigerian-assets-pull-out-of-ghana-idUSKBN1I32DC




If there is no corporate corruption, and Forte Oil disposed geregu power plants, the value of Forte oil might reach N65 after final disposition of the deal, but this is Nigeria where corporate assets are usually hyperinflated, and liabilities under reported
Otherwise, this stock is worthy of boarding the train at kilometer N27 substation N30.
Verdict..... High risk volatile investment..... For the strong heart.

I do not think that we should take some of these I TOLD YOU STATEMENTS beyond what it should be and mean. We are here to help one another take informed decisions in the NSE. That a particular stock is bad today does not mean that it can not be good tomorrow vice versa. That there are some flies that follow the dead body to the grave does not mean that some that are wise do a retreat before the body gets to the GRAVE. Please read this if you just got into Chams https://chamsplc.com/chams-private-placement-oversubscribed/ It will be nice to know what you are getting into. The last trades (in units) of the company for the last 7 months are as follows: Oct 2018 - 0.1m, Nov 2018- 0.002m, Dec 2018 0.0288m, Jan 2019 - 0.0001m, Feb 2019 - 20.0005m, March 2019 -40.897639m, April 2019 - 56.013534m. Note that we have just had 5 days trading in April 2019.

Then ask yourself what is the value of the trades so far N23m plus. So if you really want to play here, how much are you willing to stick your neck out for.

rebekah2011:
I do not think that we should take some of these I TOLD YOU STATEMENTS beyond what it should be and mean. We are here to help one another take informed decisions in the NSE. That a particular stock is bad today does not mean that it can not be good tomorrow vice versa. That there are some flies that follow the dead body to the grave does not mean that some that are wise do a retreat before the body gets to the GRAVE. Please read this if you just got into Chams https://chamsplc.com/chams-private-placement-oversubscribed/ It will be nice to know what you are getting into. The last trades (in units) of the company for the last 7 months are as follows: Oct 2018 - 0.1m, Nov 2018- 0.002m, Dec 2018 0.0288m, Jan 2019 - 0.0001m, Feb 2019 - 20.0005m, March 2019 -40.897639m, April 2019 - 56.013534m. Note that we have just had 5 days trading in April 2019.

Then ask yourself what is the value of the trades so far N23m plus. So if you really want to play here, how much are you willing to stick your neck out for.

what this company needs is government patronage like Caverton, the rest will be history, there is no service they want to give that one hustler in computer village is not already providing to the masses.....If they supported Buharis election then common Road safety or Immigration contract is enough to fire them to the net level

They already had those businesses. BVN, NATIONAL IDENTITY CARD PROJECT, etc. The question to ask is how did this benefit the common shareholders.
The government patronage of Caverton's is not that pronounced. Shell and some other Oil and Gas coys have been the pillar of their success. When you do business with the Government, be sure to have huge receivables and plenty of cash to do sorting.

maishai:
what this company needs is government patronage like Caverton, the rest will be history, there is no service they want to give that one hustler in computer village is not already providing to the masses.....If they supported Buharis election then common Road safety or Immigration contract is enough to fire them to the net level

rebekah2011:
T[b]hey already had those businesses. BVN, NATIONAL IDENTITY CARD PROJECT, etc. The question to ask is how did this benefit the common shareholders.[/b]
The government patronage of Caverton's is not that pronounced. Shell and some other Oil and Gas coys have been the pillar of their success. When you do business with the Government, be sure to have huge receivables and plenty of cash to do sorting.

Rebekah2011 are you are a man or woman? if you are the later, i will like to make you my bae... You are a smart human being...

Chibuking81:




@ Yom2, thanks for the information you posted when you first sighted Chams PLC. ( please when next you see such information do send such to my email, I will send message to your message box, please do reply)

Those in the Chams plc bus enjoy, time to get and keep information to oneself, I found out that any good information posted here were always death on arrival. Instead of receiving stone, and insult/ blame, it will be good to say bye for now. Even mcy throw stone
In NSE, never say never . After today I will go on ghost mode. People mistakes information here for something else, some think that they are revenging, but revenging for what?

When your inner mind tells you to buy a stock which seems to present a jackpot opportunity, just buy and plug your ears to the noise while you prepare your emotions to accept the outcome in case it goes bad.

rebekah2011:
I do not think that we should take some of these I TOLD YOU STATEMENTS beyond what it should be and mean. We are here to help one another take informed decisions in the NSE. That a particular stock is bad today does not mean that it can not be good tomorrow vice versa. That there are some flies that follow the dead body to the grave does not mean that some that are wise do a retreat before the body gets to the GRAVE. Please read this if you just got into Chams https://chamsplc.com/chams-private-placement-oversubscribed/ It will be nice to know what you are getting into. The last trades (in units) of the company for the last 7 months are as follows: Oct 2018 - 0.1m, Nov 2018- 0.002m, Dec 2018 0.0288m, Jan 2019 - 0.0001m, Feb 2019 - 20.0005m, March 2019 -40.897639m, April 2019 - 56.013534m. Note that we have just had 5 days trading in April 2019.

Then ask yourself what is the value of the trades so far N23m plus. So if you really want to play here, how much are you willing to stick your neck out for.

A lot of red flag on this CHams stock....A stock that has been dead for years and suddenly some people (investors in the company) are looking for escape route by pumping it using dividend declared as bait....

It reminds me of when GSK divested its ribena arm of business and declared special dividend. This shot up the price to high level and crashed after the qualification date. Though one cannot compare gsk directly with moribund chams, but similarity in terms of P&'D is being played out here. My advice is that whoever wants to dine with the NSE devil must use a long spoon- don't wait till the qualification date before you run coz if you do it might be too late to run because its going back to its usual junction of 0.20...

DD: hold no tasere units in my portfolio.

Fitch Expects Access Bank to Repay Diamond Bank's $200m Eurobond Next Month
https://businesspost.ng/2019/04/05/fitch-expects-access-bank-to-repay-diamond-banks-200m-eurobond-next-month/

I'm yet to see access bank (diamond bank) in my morgan platform. Has anyone in morgan seen their?.

edwardaigb:
I'm yet to see access bank (diamond bank) in my morgan platform. Has anyone in morgan seen their?.

Same here

I am the former oooo. Na my little daughter get that name. She is smarter than me sha.
[quote author=Coolcash1 post=77293864]

rebekah2011:
I am the former oooo. Na my little daughter get that name. She is smarter than me sha.

Oh, i see!....

#noHomo....

DOLLARTEX:
chams chai,76 million bids no single offer.chai!

Hope you didn't bail yet sha. Any expectation above 26k on this stock is risky. So if you ask me, I'd say exit at least half at that price early on Monday. Don't wait till market closed as it may close flat or lower.

Meanwhile that 76m bid is just about 13,000 units of NESTLE. so not really something huge

laydap:


Dear House .. We should watch out for FO as something very positive may be on the way. With the proposed sale of the Upstream, Foreign and Power Businesses, these have been presented on the 2018 FYE Balance Sheet as ASSET CLASSIED FOR SALE at N91.7Billion and there is a N31.6Billion as the corresponding LIABILITIES DIRECTLY ASSOCIATED WITH ASSETS CLASSIFED AS HELD FOR SALE. When the Sales are concluded, these give a NET of N60Billion which will surely go higher as the Balance sheet valuation is book value and market/sale value should exceed book value. The balance of this NET of N60Billion when the portion for Non-Controlling Interests are taken out leaves a very huge balance that will be attributable to Owners of the Company. Considering Femi is selling down his stakes in FO, then this NET attributable to Owners of the Company should be paid as SPECIAL DIVIDEND from sale of Assets. So we should be looking at a very major special dividend very very soon from FO which could be the highest dividend yield NSE will see in a long long while. If these sale has been concluded within Q1, then the special dividend could be announced with the Q1 result... N7/N10 or even a higher sum as Special dividend?

I will appreciate comments from my big Ogas in the house..

Buying in anticipation of this dividend is still trading on hope.

The way you've analysed it now, what if I convince my brother to sell his house, and even get an extra 50m facility from the bank to put on this stock. so that we buy at #25, and collect #10 dividend.

I think there may be other plans they'll have for those proceeds.


-pay special dividends
-deleverage
-acquire new assets

awesomeJ:


Buying in anticipation of this dividend is still trading on hope.

The way you've analysed it now, what if I convince my brother to sell his house, and even get an extra 50m facility from the bank to put on this stock. so that we buy at #25, and collect #10 dividend.

I think there may be other plans they'll have for those proceeds.


-pay special dividends
-deleverage
-acquire new assets

your brother should not try such ooo many may not still know much about FO in my own opinion. It goes beyond surface paper analysis

Mcy56:

Lol. I dont even have the kind of heart I can put such things. Na my crush dey my mind now. Lol.
It could have been GonFreecss1 but not anymore, he's already going on Vac with another person, he doesnt like me.
Though you're not joking but then, wetin coinsain me, I don talk my own I don move na.
One love bitl.

Don't do this to us baby, I am no more on Vac...

Let us go to our own Vac.

rebekah2011:
I am the former oooo. Na my little daughter get that name. She is smarter than me sha.

Nice, for her to inspire you to use her name.

awesomeJ:

Hope you didn't bail yet sha. Any expectation above 26k on this stock is risky. So if you ask me, I'd say exit at least half at that price early on Monday. Don't wait till market closed as it may close flat or lower.

Meanwhile that 76m bid is just about 13,000 units of NESTLE. so not really something huge

thanks awesome,my stake here is not substantial to give me headache,I will move out when the story changes!

in other news court nullifies the takeover of etisalat by teology .way forward on etisalat debt.

GonFreecss1:
Don't do this to us baby, I am no more on Vac... Let us go to our own Vac.

Chai! My bros you're making me afraid now oooo
Thanks for making my week. Respect Sir!

aremso:



your brother should not try such ooo many may not still know much about FO in my own opinion. It goes beyond surface paper analysis

That's what I'm saying now. If he buys and FO decides they're ploughing the sales proceeds to acquiring some assets or deleverage. No dividend. Market hears that and sends the stock price sub 20, Wouldn't that be high blood pressure?

edwardaigb:
I'm yet to see access bank (diamond bank) in my morgan platform. Has anyone in morgan seen their?.

U can only see it when u request for ur cscs statement from Morgan