Vol. CXIII No. 67

GAZETTE NOTICE NO. 8802

GAZETTE NOTICE NO. 8803

GAZETTE NOTICE NO. 8804

GAZETTE NOTICE NO. 8805

GAZETTE NOTICE NO. 8806

GAZETTE NOTICE NO. 8807

GAZETTE NOTICE NO. 8808

GAZETTE NOTICE NO. 8809

GAZETTE NOTICE NO. 8810

THE MEDICAL PRACTITIONERS AND DENTISTS AC (Cap. 253)

GAZETTE NOTICE NO. 8811

THE YEAR ENDED 30TH JUNE, 2010 STATEMENT OF NET ASSETS AS AT 30 JUNE 2010 30 JUNE 2010 30 JUNE 2009 Kshs.'000' Kshs.'000' Non-Current Assets Property Plant and Equipment 133,453 157,300 133,453 157,300 22nd July, 2011 THE KENYA GAZETTE 2647 30 JUNE 2010 30 JUNE 2009 Kshs.'000' Kshs.'000' Investments Undeveloped Land 7,180,892 5,927,053 Land and Buildings 20,722,427 21,538,772 Tenant Purchase Scheme 5,428,066 4,178,101 Quoted Equities 36,221,872 30,487,608 Government of Kenya Stocks 408,800 408,800 Unquoted Stocks and Equities 1,380,500 1,380,500 Treasury Bonds 23,596,448 15,665,700 Corporate Bond 1,043,300 126,200 Deposits with Financial Institutions 432,309 461,776 Total Investments 96,414,613 80,174,509 Current Assets Debtors and Prepayments 1,232,914 1,453,558 Taxation recoverable 911,279 911,279 Accrued Income 777,616 738,705 Cash and Bank Balances 1,358,315 458,305 Total Current Assets 4,280,124 3,561,848 Current Liabilities Creditors and Accruals 2,221,540 1,745,772 Total Current Liabilities 2,221,540 1,745,772 Net Current Assets 2,058,584 1,816,076 Total Net Assets 98,606,651 82,147,886 Financed by:- Members‘ Funds 98,606,651 82,147,886 STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED 30 JUNE ,2010 30 JUNE 2010 30 JUNE 2009 Kshs.'000' Kshs.'000' Dealings with members Contributions Receivable 6,789,513 6,317,984 Less: Benefits Payable 2,206,305 2,552,455 Net additions from dealings with members 4,583,208 3,765,529 Return on Investments Investment Income 6,663,768 4,566,502 Change in market value of investments 9,541,447 (10,846,853) Net return on investments 16,205,215 (6,280,352) Gross Revenue 20,788,423 (2,514,822) less: Administrative Expenses 3,428,305 4,897,950 Increase /(decrease) in Net Assets during the period 17,360,118 (7,412,772 CASH FLOW STATEMENT FOR THE YEAR ENDED 3O JUNE, 2010 30 JUNE 2010 30 JUNE 2009 Kshs.'000' Kshs.'000' Cash Flows from Operating Activities Net increase / (decrease) in assets 17,360,118 (7,412,772) Adjustments for; Depreciation 75,128 147,735 Reversal of Accrued Contributions (977,095) (817,168) Reversal of Provision for Hospital Road Plots 0 5,474 Accrued Rent Expenses 118,511 102,067 Increase/(Decrease) in Provisions 0 (1,201,143) Provision for Mugoya Construction Ltd 0 (324,356) Profit on Sale of Property and Equipment 2,612 (21) Market Gain in Securities and properties (9,541,447) 10,846,853 Operating Surplus before Working Capital changes 7,037,827 1,346,670 Working Capital changes Increase in Debtors & Prepayments 220,644 92,493 Decrease/(increase) in Accrued Income (38,911) 18,329 Decrease in Creditors & Accruals 475,768 253,673 Total Cash flows from Operating Activities 7,695,327 1,711,164 Investing Activities Redemption / (Acquisition) of Stocks (1,312,930) 443,444 THE KENYA GAZETTE 22nd July, 2011 2648 30 JUNE 2010 30 JUNE 2009 Kshs.'000' Kshs.'000' Redemption / (Acquisition) of Treasury Bonds (5,857,196) (3,351,642) Redemption / (Acquisition) of Corporate Bond (917,100) (76,200) Increase / (Decrease) in Placement of Deposits with Financial Institutions 29,467 526,985 Development of Land & Buildings (1,064,895) (892,065) Proceeds from sale of Land & Buildings 400,000 429,473 Receipts from Tenant Purchase Scheme 1,875,734 739,800 Purchase of Property, Plant and Equipment 54,213 49,446 Proceeds from sale of Property, Plant and Equipment (2,612) 21 Total Cash flow from Investing activities (6,795,318) (2,130,741) Net Increase in Cash and Cash Equivalents 900,010 (419,576) add; Cash and Cash Equivalent as at the beginning 458,305 877,882 Net Cash and Cash Equivalents as at the end 1,358,315 458,305 UNDEVELOPED LAND AS AT 3O JUNE 2010 30 JUNE 2010 30 JUNE 2009 Kshs.'000' Kshs.'000' Ngong Road Plot 220,000 200,000 Tassia Estate 20,448 17,114 Nyali Plot 9,832 98,322 Mtwapa Plot 400,000 320,000 Athi River Plot 595,446 595,446 Outering Road Plot 122,350 122,350 Mavoko Plots 2,984,845 1,777,000 Upper Hill Plot 77,000 70,000 Langata Plot 0 400,000 Bamburi Plot 228,800 208,000 Bishops Road Plot 302,500 275,000 Muthaiga Plot 495,000 450,000 Forest Edge Langata 110,000 100,000 Machakos Plots 82,500 75,000 Kileleshwa Plot 45,473 42,346 Karen Plot 307,971 307,971 Kenyatta Avenue Plot 1,861,332 1,551,110 7,863,497 6,609,658 Provision for Losses on Suspended Projects (682,605) (682,605) TOTAL VALUE OF UNDEVELOPED LAND 7,180,892 5,927,053 LAND AND BUILDINGS AS AT 3O JUNE 2010 30 JUNE 2010 30 JUNE 2009 Kshs.'000' Kshs.'000' Social Security House - Nairobi 5,390,000 4,900,000 Social Security House -Mombasa 550,000 500,000 Bruce House - Nairobi 1,485,000 1,350,000 Hazian Trade Centre -Nairobi 2,365,000 2,150,000 Hazina Estate 1,091,173 1,091,173 Social Security House Annex - Nairobi 960,789 602,748 Hazina Towers 858,000 780,000 View park Towers 1,320,000 1,200,000 Hazina Plaza ,Mombasa 440,000 400,000 Nyayo Estate Embakasi 8,882,582 11,301,428 Ojijo Road - Nairobi 385,000 350,000 Mountain View Development 488,447 488,444 Kitisuru Development 690,590 689,132 State House Road 605,000 550,000 Milimani Flats 275,000 250,000 Kapsoya Estate 6,185 6,185 25,792,766 26,609,111 Less Provision for Losses on Suspended Projects (5,070,339) (5,070,339) TOTAL VALUE OF LAND AND BUILDINGS 20,722,427 21,538,772 QUOTED SECURITIES AS AT 3O JUNE 2010 30 JUNE 2010 30 JUNE 2009 Kshs.'000' Kshs.'000' Kenya Power Lighting Co. Ltd. 6,413,801 Ordinary Kshs.20 Shares 3,550 Cum. Preference Shares 750 Cum. Preference Shares 1,282,793 936,447 East African Breweries Limited 22nd July, 2011 THE KENYA GAZETTE 2649 30 JUNE 2010 30 JUNE 2009 Kshs.'000' Kshs.'000' 41,518,458 Kshs.10 Ordinary Shares 7,514,841 6,452,769 B.A.T (K) Limited 5,700,136 Kshs.10 Ordinary Shares 1,225,529 2,184,423 Access Kenya Ltd 2,400,000 Kshs.1 Ordinary Shares 48,600 0 KenGen Company Ltd. 26,332,722 Kshs.5 Ordinary Shares 453,638 252,315 Bamburi Portland Cement Co. Ltd 53,382,743 Kshs.5 Ordinary Shares 10,676,549 7,885,498 E.A. Portland Cement Co. Ltd. 24,300,000 Kshs.5 Ordinary Shares 2,794,500 1,701,000 Kenya Commercial Bank Limited 161,047,389 Kshs.10 Ordinary Shares 2,995,481 3,259,066 Housing Finance Co. of Kenya Ltd. 15,716,448 Kshs.5 Ordinary Shares 330,045 265,608 Sameer Africa Ltd. 5,677,550 Kshs.5 Ordinary Shares 50,246 29,523 National Bank Of Kenya Ltd. 96,105,519 Kshs.5 Ordinary Shares 3,796,168 3,820,194 Barclays Bank Of Kenya Ltd. 45,027,667 Kshs.5 Ordinary Shares 2,207,733 1,867,125 Standard Bank Of Kenya Ltd. 5,785,952 Kshs.5 Ordinary Shares 852,556 553,009 Nation Media Group, Kenya Ltd. 7,667,712 Kshs.5 Ordinary Shares 870,553 895,426 Athi River Mining Company 870,000 Kshs.5 Ordinary Shares 121,800 83,520 Kenya Re. 20,089,638 Kshs.5 Ordinary Shares 243,085 261,165 Safaricom Limited 130,647,400 Kshs.5 Ordinary Shares 757,755 40,519 TOTAL VALUE OF QUOTED SECURITIES 36,221,872 30,487,608 VALUATION REPORT 30 JUNE 2010 30 JUNE 2009 Market Book Valuation Value Kshs.'000' Kshs.'000' Undeveloped Land Ngong Road Plot 220,000 131,227 Tassia Estate 20,448 20,448 Nyali Plot 9,832 9,832 Mtwapa Plot 400,000 466,050 Athi River Plot 595,446 595,446 Outering Road Plot 122,350 122,350 Mavoko Plots 2,984,845 729,142 THE KENYA GAZETTE 22nd July, 2011 2650 30 JUNE 2010 30 JUNE 2009 Market Book Valuation Value Kshs.'000' Kshs.'000' Upper Hill Plot 77,000 42,385 Bamburi Plot 228,800 188,373 Bishops Road Plot 302,500 228,441 Muthaiga Plot 495,000 296,550 TOTAL 5,456,221 2,830,244 Land and Buildings Social Security House – Nairobi 5,390,000 4,547,597 Social Security House –Mombasa 550,000 184,883 Bruce House – Nairobi 1,485,000 689,440 Hazian Trade Centre –Nairobi 2,365,000 458,854 Hazina Estate 1,091,173 1,091,173 Social Security House Annex – Nairobi 960,789 960,789 Hazina Towers 858,000 591,491 View park Towers 1,320,000 918,785 Hazina Plaza ,Mombasa 440,000 458,854 Nyayo Estate Embakasi 8,882,582 8,882,582 Ojijo Road – Nairobi 385,000 181,165 Mountain View Development 488,447 488,447 Kitisuru Development 690,590 690,590 TOTAL 24,906,581 20,144,650 The valuation of Fund properties was carried out by Gimco Limited, Registered Valuers. KEY HIGHLIGHTS Growth in Net Assets Net Assets grew from KShs.82.15 billion in 2009 to KShs.98.61 billion in 2010, thereby registering an increase of 20.0%. Increase in Contributions Contributions receivable rose from KShs.6.32 billion in 2009 to KShs.6.79 billion in 2010, an increase of 5.10%. Growth in Investment Income Investment income increased from KShs.4.57 billion in 2009 to KShs.6.66 billion in 2010, an improvement of 45.93% Interest on Members’ Funds In terms of section 19 (2) of the NSSF Act