China Square: Details from Company Registry Show Lei Cheng Only Owns 1% of Shopping Store

February 28, 2023 News

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China Square: Details from Company Registry Show Lei Cheng Only Owns 1% of Shopping Store

China Square: Details from Company Registry Show Lei Cheng Only Owns 1% of Shopping Store Tuesday, February 28, 2023 at 5:43 PM by Racheal Nyaguthie Fresh details have emerged showing that Thika-Road based shopping store China Square which has been in the eye of a storm, is owned by a Kenyan-registered company.

The store, which attracted numerous customers since its inception a month ago due to lower prices of goods, sparked controversy after local traders decried unfair competition. Interestingly, it is now emerging that Lei Cheng, who was previously touted as the owner of the business, only owns a 1% share of the store, NTV reports.

Information from company registry shows that 99% of the store is owned by Fujian Festar Holding Limited, a Kenyan-registered company owned by two directors.

The two directors of Chinese descent, Lian Feng and Chen Xiuhua, own 60% and 40% of Fujian. Fujian was registered in Kenya on July 25, 2022 while China Square was registered on August 19, 2022.