Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 29 Dec 2015
Category: General Announcement for PLC
Reference Number: GA1-29122015-00077
Description: PROPERTY DISPOSAL BY WHOLLY OWNED SUBSIDIARY
The Board of Directors of Kobay Technology Bhd. (“Kobay or “the Company”) wishes to announce that Paradigm Precision Machining Sdn. Bhd. (201691-T) (“PPM”), a wholly owned subsidiary, had on 29.12.2015, entered into a Sale and Purchase Agreement (“SPA”) with Messrs. TopFur Dressing Industries Sdn. Bhd. (1146870-K) (“the Purchaser”), to dispose of its leasehold industrial land and a single storey factory building erected thereon bearing postal address Plot 19, Jalan Industri 1, Zon Perdagangan Bebas, Jelapang 2, 30100 Ipoh, Perak (“the Property”) for total cash consideration of RM7.0 million (hereinafter referred to as “the Proposed Disposal”).
The detail of the announcement is attached.
This announcement is dated 29 December 2015.