i) What is financing engineering and financial innovation? (2 Marks)
ii) Identify any three factors that are responsible for financial innovations (3 Marks)
a) What is corporate restructuring and what are its symptom (8 Marks)
b) XYZ Ltd is retailing outlet quoted on the Nairobi Stock Exchange. The outlet has over 30
branches spread across the country. For the last two years, the company has registered negative
performance in terms of after tax profits and earnings per share. The shareholders of the
company have not received any dividend during the two years covered by the consolidated
A large proportion of current liabilities relate to amounts owned by the company to its
suppliers and bank borrowings initially used to financed an unprecedented expansion
programme which is yet to yield any positive results.
The company is unable to obtain short term credit facilities because its credit rating has
significantly declined owing to poor financial performance reflected in the financial statements
and cash flow problems.
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