Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 18 Oct 2013
Category: General Announcement
Reference Number: KT-131018-60386
Type: Announcement
Subject: OTHERS
Description: Credit Facilities accepted by Kobay
Pursuant to Chapter 9.04 of Listing requirements, the Board of Directors of Kobay Technology Bhd. (“Kobay” or “the Company”) wishes to announce that on 18 October 2013, Kobay has accepted credit facilities of RM 10 million offered by Messrs. Public Bank Berhad (“the said credit facilities”) to facilitate additional working capital requirement of the Group.
The said credit facilities will be secured with a unit of double storey detached factory building which is free from encumbrances erected on Lot 12461, Mukim 12, Daerah Barat Daya, Penang registered under the name of Paradigm Precision Components Sdn. Bhd. (Company No.: 217167-U) (“PPC”), a wholly owned subsidiary company of Kobay and a corporate guarantee by PPC.
This announcement is dated 18 October 2013.