Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 6 Dec 2013
Category: General Announcement
Reference Number: KT-131206-34549
Description: Proposed Disposal of Property by wholly owned subsidiary
The Board of Directors of Kobay Technology Bhd. (“Kobay” or “the Company”) wishes to announce that its wholly owned subsidiary company, Bend Weld Engineering Sdn. Bhd. (“BWE” or “the Vendor”), had on 6 December 2013, entered into a Sale and Purchase Agreement (“SPA”) with Messrs. Amazing Vestrax Sdn. Bhd. (688963-U) (“the Purchaser”), to dispose of its all that piece of leasehold industrial land and a single storey factory building erected thereon bearing assessment address Plot 38, Hilir Sungai Kluang 2, Phase IV, Bayan Lepas Non-FTZ, 11900 Pulau Pinang (“the Property”) for total cash consideration of RM7.7 million (hereinafter referred to as “the Proposed Disposal”).
Announcement-Disposal of factory by BWE (6Dec2013).doc