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PROVISION OF FINANCIAL ASSISTANCE

By | Bursa 2020 | No Comments

Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 07 Jul 2020
Category: General Announcement for PLC
Reference Number: GA1-06072020-00040

Subject: PROVISION OF FINANCIAL ASSISTANCE
Description: QUARTERLY DISCLOSURE PURSUANT TO PARAGRAPHS 8.23(2)(e) OF THE MAIN MARKET LISTING REQUIREMENTS IN RELATION TO THE FINANCIAL ASSISTANCE PROVIDED BY KOBAY GROUP FOR THE FOURTH QUARTER OF FINANCIAL YEAR ENDED 30 JUNE 2020

Pursuant to Paragraph 8.23(2)(e) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Kobay Technology Bhd (“Kobay”) wishes to announce the aggregate amount of financial assistance provided by its wholly-owned subsidiary, Kewjaya Sdn Bhd (Co. No. 576802-P) (“Kewjaya”), for the fourth quarter of financial year ended 30 June 2020, as set out in the annexure.

The Financial Assistance provided was in the ordinary course of business of Kewjaya as a licensed moneylender.

The Financial Assistance provided does not have any material effect on the earning per share, net assets per share and gearing of Kobay and its subsidiaries.

This announcement is dated July 7, 2020

Attachments :
BMQ4FY2020.pdf

OTHERS KOBAY TECHNOLOGY BHD. (Kobay or the Company) – Proposed Disposal by Kobay of 100% Equity Interest in The 12 Avenues Sdn. Bhd., a wholly-owned subsidiary of Kobay

By | Bursa 2020 | No Comments

Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 03 Jun 2020
Category: General Announcement for PLC
Reference Number: GA1-03062020-00021

Subject: OTHERS
Description: KOBAY TECHNOLOGY BHD. (Kobay or the Company)-Proposed Disposal by Kobay of 100% Equity Interest in The 12 Avenues Sdn. Bhd., a wholly-owned subsidiary of Kobay

The Board of Directors of Kobay wishes to announce that the company proposes to dispose off its 100% equity interest in The 12 Avenues Sdn. Bhd. (Company No. 1027688-A) (The 12 Avenues”) comprising 100,000 ordinary shares for a total cash consideration of RM44,750.00 (“Disposal Consideration”) to Ms. Leong Lai Yong (I/C No. 771212-07-5502) (“the Purchaser”)(Proposed Disposal”).

Upon completion of the Proposed Disposal, The 12 Avenues shall cease to be a wholly-owned subsidiary of Kobay.

1. INFORMATION ON THE 12 AVENUES

The 12 Avenues was incorporated on 12 December 2012 as Skyhouse Sdn. Bhd.. It changed its name to The 12 Avenues Sdn. Bhd. on 05 February 2013. Its current paid up capital is RM100,000 comprising of 100,000 ordinary shares.

The intended principal activities of The 12 Avenues is property development and has entered into Joint Venture Agreement with P.G. Doraisamy A/L Gopal and Sudhakaran A/L Gopalan on 16 May 2013 to explore a project located at Batu Tiga, Selangor. The said project was unable to be realized after several attempts to seek the Authorities’ approval to divert the river of no avail.

The said project has been terminated by the Company on 31 May 2019. Since then, the Company has been dormant with no new project secured.

2. INFORMATION ON PURCHASER

The Purchaser, Ms Leong Lai Yong (I/C No. 771212-07-5502) is a Malaysian Chinese reside in Malaysia.

3. BASIS AND JUSTIFICATION FOR ARRIVING AT THE DISPOSAL CONSIDERATION

The Disposal Consideration of the Proposed Disposal was arrived based on the net tangible assets value of the Company as at 31 May 2020 and will be fully satisfied in cash, The said consideration sum shall be paid within 7 days from the agreed date to take over the entire share capital of The 12 Avenues before executing and completing the documents pertaining to the Proposed Disposal.

4. ORIGINAL COST OF INVESTMENT

The aggregate cost of investment in The 12 Avenues by Kobay is RM82,000. Based on the latest audited financial statements for financial year ended 30 June 2019, the net assets of The 12 Avenues was RM47,074 and net loss was RM2,891.

There will be no material gain or loss arise from the Proposed Disposal for the Company and the Group.

5. PERCENTAGE RATIO

The highest percentage ratio applicable to the proposed disposal pursuant to Paragraph 10.02(g) of the Bursa Malaysia Securities Berhad Main Market Listing Requirements of Bursa Securities is 0.05 %.

6. RATIONALE AND PROSPECT OF THE PROPOSED DISPOSAL

The Proposed Disposal is part of Kobay’s operational and organizational restructuring to streamline and re-align entities within Kobay and its group of companies in order to create a leaner and efficient corporate structure.

7. FINANCIAL EFFECT OF THE TRANSACTIONS

(a) On earnings and earnings per share

The change of equity interest is not expected to have any material effects on the earnings of Kobay Group for the financial year ending 30 June 2020.

(b) On net assets and gearing

The change of equity interest does not have any effect on net assets and gearing of Kobay Group for the financial year ending 30 June 2020.

(c) On share capital and substantial shareholders’ shareholdings

The change of equity interest does not have any effect on the paid up capital and substantial shareholders’ shareholdings of Kobay.

8. RISK FACTORS

There is no risk and liability to be assumed by Kobay arising from the Proposed Disposal.

9. APPROVAL REQUIRED

The Proposed Disposal does not require approval from the shareholders of Kobay or any regulatory authorities.

10. COMPLETION DATE

Completion of the Disposal shall take place within One (1) month after the Section 105 Form and/or such other instruments to effect the transfer of the shares under the Proposal Disposal being duly stamped and executed.

11. DIRECTORS AND SUBSTANTIAL SHAREHOLDERS INTERESTS

None of the directors and/or substantial shareholder of Kobay or any person connected with them have any interest, direct or indirect, in the Proposed Disposal.

12. STATEMENT BY THE BOARD OF DIRECTORS

The Board, after due consideration of all aspects of the Proposed Disposal, is of the opinion that the sale consideration is reasonable and the Proposed Disposal is in the best interest of Kobay, fair and reasonable to the Company and is not to the detriment of the Company and its shareholders.

This announcement is dated 3 June 2020.

Quarterly rpt on consolidated results for the financial period ended 31 Mar 2020

By | Bursa 2020 | No Comments

Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 28 May 2020
Category: Financial Results
Reference Number: FRA-27052020-00017

Financial Year End: 30 Jun 2020
Quarter: 3 Qtr
Quarterly report for the financial period ended: 31 Mar 2020
The figures : have not been audited

Attachments :
KOBAY FS - Qtr Report 3 2020.pdf

Currency: Malaysian Ringgit (MYR)

FRA-27052020-00017

Definition of Subunit:
In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:
currency

OTHERS Banking Facilities accepted by Kobay Group

By | Bursa 2020 | No Comments

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.

Changes in Sub. S-hldr’s Int (Section 138 of CA 2016) – KOBAY HOLDINGS SDN. BHD.

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Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 23 Apr 2020
Category: Change in the Interest of Substantial Shareholder Pursuant to Section 138 of CA 2016
Reference Number: CS2-23042020-00046

Particulars of substantial Securities Holder

Name: KOBAY HOLDINGS SDN. BHD.
Address: Lot 1.02, 1st Floor Acctax Corporate Centre, No. 2 Jalan Bawasah, Georgetown 10050 Pulau Pinang Malaysia.
Company No.: 280918-D
Nationality/Country of incorporation: Malaysia
Descriptions (Class): Ordinary shares

Details of changes
CS2-23042020-00046

Circumstances by reason of which change has occurred: Transferred
Nature of interest: Direct Interest
Direct (units): 33,432,980
Direct (%): 32.747
Indirect/deemed interest (units): 0
Indirect/deemed interest (%): 0
Total no of securities after change: 33,432,980
Date of notice: 23 Apr 2020
Date notice received by Listed Issuer: 23 Apr 2020

Notice of Person Ceasing (Section 139 of CA 2016) – DATO SERI KOAY HEAN ENG

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Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 23 Apr 2020
Category: Notice of Person Ceasing To Be Substantial Shareholder Pursuant to Section 139 of CA 2016
Reference Number: CS3-23042020-00003

Particulars of substantial Securities Holder

Name: DATO SERI KOAY HEAN ENG
Nationality/Country of incorporation: Malaysia
Descriptions (Class): Ordinary shares
Name & address of registered holder: 12 Jalan D.S. Ramanathan,Pulau Tikus,10350 Georgetown,Pulau Pinang.
No of securities disposed: 5,361,353
Circumstances by reason of which a person ceases to be a substantial shareholder: Transferred
Nature of interest: Direct Interest
Date of notice: 23 Apr 2020
Date notice received by Listed Issuer: 23 Apr 2020

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