MIP WEEKLY CONSTRUCTION INDUSTRY REPORT NO.17
Period: November 23 to 29, 2015
Crown paints to launch a Shs 400m Kisumu Plant in January
27/11/2015: Business Daily, page 12
- Crown paints will open a Ksh 400m plant in Kisumu in January to cut costs and capture a larger share of the growing real estate market in the western region.
- The company is seeking to increase its output as wells reduce costs of transporting paint from its Nairobi plant.
- The new plant will be fully automated with a capacity of Ksh 1.3 million litres per month
Stanlib Reit fails to hit target as T-bills locks in investors
27/11/2015: Business Daily, page 19
- The stanlib Fahari I –REIT managed to raise Ksh 3.6 Billion which was under one –third of the targeted shs12.5 billion.
- Stanlib termed the offer as a success since it exceeded the minimum Ksh 2.6 billion target.
- Analysts attributed the under subscription of the Stanlib Fahari I-Reit to competition from other instruments and the market’s poor grasp of the concept.
Investors keep off short Term T- bills as yields dip
27/11/2015: Business Daily, page 20
- Fixed income investors largely stayed away from the six month and one year treasury bills as yields came further down earlier in the week.
- The 182 day paper, the yield stood at 10.092 % having slipped off 0.111%. The subscription was only Ksh 474m against the Ksh 6B offered by the CBK.
- The 364 day paper, the yield stood at 11.934 % having slipped off 0.152%. The subscription was only Ksh 1.158B against the Ksh 6B offered by the CBK.
Sameer Group to construct Stadium in Nandi County
23/11/2015: Daily Nation, page 8
- Sameer Africa Group announced the construction of a stadium in Nandi Hills.
- The Construction of the 26,000 seater stadium at a cost of Ksh 60 Million is expected to start in January next year and all the logistics and plans for the construction have been put in place.