Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 7 Nov 2012
Category: General Announcement
Reference Number: KT-121107-60638
Description: Cancellation of credit facilities granted to wholly owned subsidiary
Further to our announcement dated 18 May 2012, the Board of Directors of Kobay Technology Bhd. (“Kobay”) wishes to announce that its wholly owned subsidiary company, LD Global Sdn. Bhd. (“LD” or “the Company’) has not commenced the intended trading of fertilizer urea N46%, henceforth the credit facilities of USD 10 million accepted by the Company from Messrs. OCBC Bank (Malaysia) Berhad (“OCBC”) has been cancelled vide OCBC’s letter dated 2 November 2012 of which was received on 7 November 2012.
This announcement is dated 7 November 2012.