The Real Estate Expert

REAL ESTATE |
|FINANCE
|A.I |
|DATA SCIENCE|
|URBAN PLANNER|

[The Real Estate Expert @phabiance]

@kahome_steve both have a going concern value .

don't overthink this

[The Real Estate Expert @phabiance]

@BoardLotSultan This is not a fraud case. It's a governance case.
Centum is a textbook example of how long-tenured CEOs, captured Boards, and opaque accounting can create value destruction that looks legal on paper but is economically indefensible.

[The Real Estate Expert @phabiance]

@BoardLotSultan ...NED fees indexed to shareholder returns, not catch-up hikes
Transparent disclosure of "asset reclassifications"

[The Real Estate Expert @phabiance]

@BoardLotSultan 🔍 FORENSIC SIGNAL #1: TAX ENGINEERING
FY2025 deferred tax charge: Ksh 1.32 BILLION • Up from Ksh 304m in FY2024 (+334%) • Attributed to "asset reclassifications" • Land tax rate changed: 5% → 15%
What was reclassified? From what to what? Why?
Undisclosed. Red flag.

[The Real Estate Expert @phabiance]

@BoardLotSultan 🏛️ GOVERNANCE STRUCTURE: WHO WATCHES THE WATCHER?
Board: 11 directors • 6 Independent NEDs • 2 Non-Independent NEDs • 1 Executive Director (Mworia himself) • 1 Alternate Director
CEO sits on the Board that approves his pay. Structural conflict.

[The Real Estate Expert @phabiance]

Why do Kenyan real estate balance sheets systematically fail to represent economic reality, and what institutional reforms would make them truthful? #Kenyarealestate #RealEstateInvesting #Realestate

[The Real Estate Expert @phabiance]

@TangoFox_ don't forget an urban planner.

[The Real Estate Expert @phabiance]

@TangoFox_ how long does it take to draft one with current technology?

data is all over