Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 21 Jun 2016
Category: General Announcement for PLC
Reference Number: GA1-21062016-00022
Type: Announcement
Subject: OTHERS
Description: Completion of property disposal by wholly owned subsidiary, Paradigm Precision Machining Sdn. Bhd.
An announcement has been made on 29 December 2015 (reference number : GA1-29122015-00077) by Kobay Technology Bhd. (“Kobay”), that its wholly owned subsidiary company, Paradigm Precision Machining Sdn. Bhd. (“PPM”), has 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.
The Board of Directors of Kobay Technology Bhd. (“Kobay”) wishes to announce that on 18 June 2016, the aforementioned Property Disposal transaction has been completed.
This announcement is dated 21 June 2016.