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"id": 240253,
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"type": "speech",
"speaker_name": "Mr. Muiruri",
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"speaker": {
"id": 238,
"legal_name": "Patrick Kariuki Muiruri",
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"content": "Mr. Deputy Speaker, Sir, although I have not received a copy of the written answer, I beg to ask the Minister for Finance the following Question by Private Notice. (a) Is the Minister aware that the Capital Markets Authority (CMA) has authorized Scangroup Limited to sell 60,000,000 shares (IPO) to the public worth Kshs721,050,000? (b) Is he also aware that the company's total movable assets as at 2005 were valued at Kshs38,640,000 while it has no immovable assets? (c) Is he further aware that the company had a bank overdraft of Kshs175,804,027 as at December, 2005? (d) Given that the company's share capital in 2002 was Kshs10,000 which was raised to Kshs150 million in 2005, could the Minister assure the House that the public is not exposed to fraud, taking into account that only Kshs13.8 million of the IPO proceeds will be used for expansion? 2424"
}