In January 2020, the media reported a court petition by the State Bank of Mauritius (SBM) to liquidate the East African Cables over a $2.85 million (Ksh285 million) debt. However, the two parties have reached an agreement , recently, on the restructuring of the $2.85 million (Ksh285 million) debt that is due and payable on […]
CEO Kenyatta National Hospital (KNH) Evans Kamuria (left) receiving a key to the mobile clinic from Transcentury CEO Nganga Njiru at KNH grounds, the clinic will be used for Covid-19 Mass Testing in Nairobi. May 26, 2020. [Jonah Onyango, Standard] Business TransCentury, East African Cables and Crown Paints are the listed firms that have sought […]
EA Cables has been struggling to pay creditors, including banks. FILE PHOTO | NMG SBM Bank (Kenya) Limited has withdrawn a petition to liquidate East African Cables #ticker:CABL after the two reached a debt settlement and restructure agreement. SBM Bank in January this year filed a petition to liquidate the loss making company after it […]
The East African Cables manufacturing plant in Nairobi. The company has been making losses for the past four years. FILE PHOTO | NMG The agreement involves a restructure of the outstanding facilities by the bank under a new long term facility. EA Cables is grappling with a huge debt portfolio amounting to Ksh3.55 billion ($35.5 […]
East African Cables plant in Nairobi. FILE PHOTO | NMG East African Cables #ticker:CABL has reached a loan restructure agreement with SBM Bank Kenya, a move that has seen the lender retreat from its move to liquidate the Nairobi Securities Exchange-listed firm over a Sh285 million debt. The cables manufacturer says the maturity date of […]
East African Cables plant in Nairobi. FILE PHOTO | NMG East African Cables #ticker:CABL has reached a loan restructure agreement with SBM Bank Kenya, a move that has seen the lender retreat from its move to liquidate the Nairobi Securities Exchange-listed firm over a Sh285 million debt. The cables manufacturer says the maturity date of […]
•Delays occasioned by on-going discussions with lenders to complete the remaining portion of debt restructure transaction. •Social distancing measures and restricted working hours due to Covid-19 Pandemic have also affected audit timelines, the firm says. East African Cables products./ East African Cables will delay in the publishing of its audited financial results for the year […]
•SBM Bank Kenya had filed a petition to liquidate the loss-making cable manufacturer after it defaulted on a Sh285 million loan. •The withdrawal of the petition is a significant step towards the company’s turnaround plan, management now says. East African Cables products./ East African Cables (PLC) has received a major reprieve after SBM Bank (Kenya) […]
The East African Cables manufacturing plant in Nairobi. The company has been making losses for the past four years. FILE PHOTO | NMG The agreement involves a restructure of the outstanding facilities by the bank under a new long term facility. EA Cables is grappling with a huge debt portfolio amounting to Ksh3.55 billion ($35.5 […]
The East African Cables manufacturing plant in Nairobi. The company has been making losses for the past four years. FILE PHOTO | NMG The agreement involves a restructure of the outstanding facilities by the bank under a new long term facility. EA Cables is grappling with a huge debt portfolio amounting to Ksh3.55 billion ($35.5 […]
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