Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 25 Jul 2018
Category: General Announcement for PLC
Reference Number: GA1-25072018-00068
Description: Acquisition of a New Subsidiary
The Board of Directors of Kobay Technology Bhd. (308279-A) (“Kobay”) is pleased to announce that Kobay had on 25 July 2018 acquired a new wholly owned dormant subsidiary company, namely Kobay Resorts Sdn. Bhd. (formerly known as BP Jaya Development Sdn. Bhd.) for a cash consideration of RM2/= only.
The new subsidiary company was incorporated on 30 March 2015. It has not commenced its business since incorporation. Its current paid up capital is RM2/= comprising of 2 ordinary shares at an issue price of RM1 each of which have been fully paid up.
The acquisition of the new subsidiary company will not have any significant financial impact and material effect on the earnings, gearing, share capital and net tangible assets of Kobay group for the financial year ending 30 June 2019.
None of the directors or major shareholders of the Company or persons connected with them, has an interest, direct or indirect, in the said acquisition.
This announcement is dated 25 July 2018.