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Thursday, March 2, 2023 – Recent particulars have emerged over the possession of the controversial China Sq. Grocery store that’s positioned at Unicity Mall alongside Thika Tremendous Freeway.
The favored grocery store sells a wide range of items imported from China at comparatively cheaper charges in comparison with native retailers.
The mall has additionally attracted the eye of Commerce and Funding Cupboard Secretary Moses Kuria, who not too long ago threatened to close it down claiming it’s hurting native companies.
With all of the dialog round it, questions have emerged over who owns China Sq..
In keeping with firm registry (CR12) paperwork, Cheng Lie who claims to personal the grocery store has only one p.c possession.
The remaining 99 p.c of the shop is owned by Fujian Festar Holding Restricted, an organization registered in Kenya.
China Sq. is presently underneath investigation, with the most recent twist being that officers from the Anti-Counterfeit Authority (ACA) are wanting right into a case involving items value KES 50 million from the shop which have been alleged of mental property infringement and counterfeit merchandise.
Here’s a doc from the State Legislation Workplace displaying that Lei Cheng owns only one p.c and the remainder by Kenyans.
The Kenyan DAILY POST.
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