OTHERS Striking Off of a Subsidiary Company

By September 27, 2013 Bursa 2013

Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 27 Sept 2013
Category: General Announcement
Reference Number: KT-130927-62767

Type: Announcement
Subject: OTHERS
Description: Striking Off of a Subsidiary Company

The Board of Directors of Kobay Technology Bhd. (“Kobay”) wishes to announce that its wholly owned sub-subsidiary, namely Suzhou Univex Metal Tech Co. Ltd. (“Univex” or “the Company”)(Company no.: 320500400041051) has on 26 September 2013 received the approval letter from the Registrar of Foreign Investment in the People’s Republic of China to strike off the Company.

Univex was incorporated in China on 4 July 2011 and intends to involve in manufacturing of metal products and surface treatments with an intention to tap into the market in China.

The Company was operating at a small scale since its incorporation and had been inactive since July 2012. As such, the Board has decided to strike off the Company.

The striking off is not expected to have operational impact and material financial impact on the consolidated net asset per share, earning per share, gearing, share capital and substantial shareholders’ shareholding of the Group for the financial year ending 30 June 2014.

The Board also does not foresee any risk and liability to be assumed by Univex and Kobay arising from the striking off exercise.

The Board, after due consideration of all aspects, is of the opinion that the striking off is in the best interest of Kobay.

None of the directors and/or substantial shareholders of Kobay or any person connected with them have any interest, direct or indirect, in the striking off.

The striking off does not require approval from the shareholders of Kobay, Securities Commission and Foreign Investment Committee and it does not subjected to the approval of the Securities Commission and does not fall under the Securities Commission’s Policies and Guidelines on the Issue/Offer of Securities or any amendments thereof.

This announcement is dated 27 September 2013.

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