The assets of Kenya’s oldest and one of the largest truck and bus body builders, Labh Singh Harnam Singh Limited (LSHS), have been put up for sale in a bid to recover a Sh1.1billion debt to KCB Group, just six months after the firm was placed under administration.
The joint administrators of LSHS, Ponangipalli Venkata Ramana Rao and Swaroop Rao Ponangipalli, have invited bids for the firm’s assets, including a 5.011-acre parcel of land in Nairobi’s Syokimau area, which hosts the firm’s godowns, a factory with plant and machinery for use in fabrication and repair of bus and truck bodies, and office blocks.
