Tuesday, September 22, 2020
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Tag: Price water house Coopers (PwC)

Kenyan market with two new brands

Motor dealer DT Dobie has re-launched the Renault brand with two new models after a two-year absence of the French car maker's brands in the market.

CMC shareholder thrown out.

Mr. Peter Muthoka, the largest shareholder in troubled motor firm CMC, and a co-director were on Monday toppled in a fresh boardroom coup engineered by the Capital Markets Authority (CMA).

CMC takes Muthoka to court.

Listed motor dealer CMC has sued former chairman Peter Wambua Muthoka afresh and is seeking compensation for the Sh1.5 billion he allegedly defrauded the company through inflated contracts with logistics service provider Andy Forwarders, which he owns.

Regulator stokes CMC board wars with ouster of directors

The capital markets regulator on Monday stoked the management flames at motor dealer CMC Holdings with a fresh order seeking to send the entire board packing and replace it with a new one. CMA said it would appoint a caretaker board to replace the warring directors – a move that would effectively throw out the key protagonists in the four-month long boardroom battle that began in September.

Audit reveals how inflated tenders cost CMC Sh1.1 bn

Motor dealer CMC Holdings lost more than Sh1.1 billion in inflated charges paid over five years to a transport and logistics firm owned by CMC board member and former chairman Peter Muthoka, a forensic audit by Price water house Coopers (PwC) has found.