Interesting, what is the auditor saying? http://www.businessdailyafrica....1/-/jsxi46z/-/index.html

This is more than a storm. Where is the Authority?? http://www.nation.co.ke/busines...4/-/jm0t1ez/-/index.html

The trouble, according to those who attended the meeting, started when the Portland board chairman Mr Mark ole Karbolo opened the meeting by directing that the board will only take three questions from the shareholders, triggering agitation. Industrialisation PS Dr Wilson Songa and NSSF representative Gideon Chengo then moved to question why the company was paying dividend when the firm’s cash position was Sh450 million in the negative. “The stocks of the firm have been overstated by Sh2.1 billion, and the Sh3.4 billion in debts owed by the company is close to Sh3.6 billion in current asset which makes the firm literally insolvent,” noted Dr Songa. In the annual report circulated to shareholders, the cement producer reported Sh1.77 billion as after tax profits for the period to June 2013. However, Mr Songa maintained that the firm is “in the red” to the tune of Sh500 million, with actual operating profits being Sh340 million and the rest, almost Sh1.2 billion, being “mere adjustments in the books”.

KPLC [conned folks with a Rights Issue which claimed ERC would give them a Rate Hike. Wapi?] KenGen: See KPLC KQ: Well, sort of a mixed bag NBK: In-fighting between GoK & NSSF