Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 22 May 2020
Category: General Announcement for PLC
Reference Number: GA1-22052020-00107
Subject: OTHERS
Description: Banking Facilities accepted by Kobay Group
Pursuant to Chapter 9.04(e) of Listing Requirements, the Board of Directors of Kobay Technology Bhd. (“Kobay” or “the Company”) wishes to announce that the Company has accepted the following banking facilities offered by Messrs. CIMB Islamic Bank Berhad:-
| Details of Facility/ies | Limit (RM) | Interest Rate |
| Cash Line-i (CL-i) | 10,000,000-00 | BFR-1.0% |
| Revolving Credit-i (RC-i 1) | 10,000,000-00 | COF+1.0% |
| Revolving Credit-i (RC-i 2) | 10,000,000-00 | COF+1.0% |
| —————- | ||
| TOTAL | 30,000,000-00 | |
| ========== |
Purpose of Facility/ies
CL-i/ RC-i 1 : For working capital.
RC-i 2 : For capital expenditure (capex) in relation to the Company’s manufacturing activities.
Security
That the Company do furnish the followings to the Bank as Security/ies:-
a. 3rd Party All Monies Legal Charge over the property owned by Super Tropica Development Sdn Bhd, a wholly subsidiary of Kobay, held under individual title No Hak Milik 47092, 46881, 46882, 28204, 44961, 52732, 52733, 28217, 28218, 28219 & H.S. (D) 18014, Lot 34, 35,36, 249, 251,990, 992, 993, 995, 996 & PT143, District of Timor Laut, State of Pulau Pinang in favour of the Bank.
STATEMENT BY DIRECTORS
The Board of Directors of Kobay is of the opinion that the Facilities is in the best interest of the Company.
DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS
None of the Directors’ or Major Shareholders of the Company or persons connected with them have any interest, direct or indirect in the said facilities.
This announcement is dated 22 May 2020.