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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS Sale of properties by LD Global Sdn Bhd (wholly-owned subsidiary of Kobay Technology Bhd) to Related Parties

By | Bursa 2019, Uncategorized | No Comments

Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 08 May 2019
Category: General Announcement for PLC
Reference Number: GA1-08052019-00052

Type: Announcement
Subject: TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS
Description: Sale of properties by LD Global Sdn Bhd (wholly-owned subsidiary of Kobay Technology Bhd) to Related Parties

1. INTRODUCTION

The Board of Directors of Kobay Technology Bhd. (“Kobay” or “the Company”) wishes to announce that its wholly-owned subsidiary, LD Global Sdn Bhd (“LD Global”) had entered into a Sale and Purchase Agreement (SPA) in respect of the related party transactions (referred to as “ the Transactions”), the details of which are as set out below :-

wholly-owned subsidiary company Purchaser/(s)(hereinreferred to as “Related Parties”) Nature of relationship Description of the transaction/(s) Selling price (RM)
LD Global Ms Dennycia Koay Zee Wei Ms Dennycia Koay Zee Wei, the daughter of Dato’ Seri Koay Hean Eng, the CEO of Kobay and shareholder of Kobay by virtual of his 2.43% direct interest in Kobay and 25.75% deemed interest via Kobay Holdings Sdn. Bhd., the major shareholder of Kobay. Sale of 1 unit Serviced Apartment (Type SS1), Lavanya Residences, Langkawi, held under PT334, HS(M) 802, Bandar Padang Mat Sirat, Pantai Tengah, Pulau Langkawi, Kedah. 682,000
LD Global Mr. Koay Zee Ee Mr. Koay Zee Ee, the son of Dato’ Seri Koay Hean Eng, the CEO of Kobay and shareholder of Kobay by virtual of his 2.43% direct interest in Kobay and 25.75% deemed interest via Kobay Holdings Sdn. Bhd., the major shareholder of Kobay. Sale of 1 unit Serviced Apartment (Type SS1), Lavanya Residences, Langkawi, held under PT334, HS(M) 802, Bandar Padang Mat Sirat, Pantai Tengah, Pulau Langkawi, Kedah. 686,000
Total 1,368,000

2. INFORMATION ON LD GLOBAL

LD Global, the wholly owned subsidiary of Kobay, was incorporated in Malaysia on 3 July 2000 with its paid-up capital of RM19,900,000-00 (Ringgit Malaysia : Nineteen Million and Nine Hundred Thousand Only).

The principle activity of LD Global is property development.

3. SALIENT TERMS OF THE SPA

The consideration for the Transactions shall be paid in the following manner :-

a) A payment equivalent to 10% of the Selling Price had been paid upon execution of the SPA;

b) The balance 90% shall be paid according to the stage of works completed.

LD Global agreed to sell and the Related Parties agreed to purchase the abovementioned properties with vacant possession free from encumbrances and subject to the terms and conditions therein stipulated in the SPA which are standard and applicable to all purchasers.

4. RATIONALE AND PROSPECT OF THE PROPOSED ACQUISITION

The Transaction as described above are incurred in the ordinary course of business of LD Global. There is no liability to be assumed arising from the Transactions.

5. BASIS OF ARRIVIG AT THE SELLING PRICE

The Transactions are based on the standard terms and pricing applicable to general public and is not more favourable than those generally offered to all other purchasers of LD Global. The Transactions are entered into at an arm’s length basis and not to the detriment of the minority shareholders of Kobay.

6. FINANCIAL EFFECT OF THE TRANSACTIONS

(a) On earnings and earnings per share

The SPA is not expected to have any material effects on the earnings of Kobay Group for the financial year ending 30 June 2019.

(b) On net assets and gearing

The SPA does not have any effect on net assets and gearing of Kobay Group for the financial year ending 30 June 2019.

(c) On share capital and substantial shareholders’ shareholdings

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

7. HIGHEST PERCENTAGE RATIO

The highest percentage ratio applicable to the Transactions pursuant to Paragraph 10.02(g) of the Bursa Malaysia Securities Berhad Main Market Listing Requirements of Bursa Securities is 0.9%.

8. APPROVAL REQUIRED

The Transactions are being incurred in the ordinary course of business which are not subject to the approval of the shareholders of Kobay or any regulatory authorities.

9. COMPLETION DATE

The Transactions are expected to be completed within the timeframe as stated in the SPA.

10. TOTAL AMOUNT TRANSACTED BY THE RELATED PARTIES

Save and except for the Transactions as described herein, there is no other transaction entered into between the Related Parties within Kobay for the preceding 12 months.

11. DIRECTORS AND SUBSTANTIAL SHAREHOLDERS INTERESTS

Saved as disclosed above, none of the other Directors and/or major shareholders of Kobay and/or persons connected with them have any interest, direct or indirect in the Transaction.

12. STATEMENT BY THE BOARD OF DIRECTORS AND THE AUDIT COMMITTEE

The Board of Directors (which Dato’ Seri Koay Hean Eng, Mr. Koay Cheng Lye and Mr. Koay Ah Bah @ Koay Cheng Hock were abstained from voting as person connected to the Related Parties) are of the opinion that the Transactions are in the best interest of the Company and it is fair and reasonable and is not detrimental to the Company and its Shareholders.

In addition to that, the Audit Committee, having considered all aspects of the Transactions, including the rationale, is of the opinion that they are :-

a) in the best interest of Kobay and its Group;

b) fair, reasonable and normal commercial terms; and

c) not detrimental to the interest of the Company’s minority shareholders.

13. DOCUMENT FOR INSPECTION

Copy of SPA will be made available for inspection at the registered office of the Company at 3rd Floor, Wisma Kobay, No. 42-B Jalan Rangoon, 10400 Georgetown, Penang during normal working hours for a period of three (3) months from the date of this announcement.

This announcement is dated 8 May 2019.

OTHERS CHANGE OF NAME OF WHOLLY OWNED SUBSIDIARY

By | Bursa 2019 | No Comments

Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 22 Apr 2019
Category: General Announcement for PLC
Reference Number: GA1-22042019-00078

Type: Announcement
Subject: OTHERS
Description: CHANGE OF NAME OF WHOLLY OWNED SUBSIDIARY

The Board of Directors of Kobay Technology Bhd. (“Kobay”) wishes to announce that Kobay Sawin Sdn. Bhd. (Company No. 581589-D), a wholly owned subsidiary of Kobay, has changed its name to Kobay SB Sdn. Bhd. with effective from 16 April 2019. The Certificate of Incorporation on Change of Name dated 16 April 2018 issued by the Companies Commission of Malaysia was received by the Company on 22 April 2019. .

This announcement is dated 22 April 2019

Changes in Sub. S-hldr’s Int (Section 138 of CA 2016)

By | Bursa 2019 | No Comments

Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 03 Apr 2019
Category: Change in the Interest of Substantial Shareholder Pursuant to Section 138 of CA 2016
Reference Number: CS2-02042019-00021

Particulars of substantial Securities Holder
Name: PREMIERGROW CAPITAL SDN. BHD.
Address: No. 1-2-1 (1 Sky), Tingkat Mahsuri 2, Bayan Lepas, 11900 Pulau Pinang Malaysia.
NRIC/Passport No/Company No.: 525691-H
Nationality/Country of incorporation: Malaysia
Descriptions (Class): Ordinary shares

Details of changes

No Date of change No of securities Type of Transaction Nature of Interest
1 28 Mar 2019 700,000 Acquired Direct Interest
Name of registered holder PREMIERGROW CAPITAL SDN BHD
Address of registered holder 1-2-1 (I-SKY), Tingkat Mahsuri 2, Bayan Lepas, 11900 Penang
Description of “Others” Type of Transaction

Circumstances by reason of which change has occurred: Acquired via married deal
Nature of interest: Direct Interest
Direct (units): 7,939,000
Direct (%): 7.77
Indirect/deemed interest (units):
Indirect/deemed interest (%):
Total no of securities after change: 7,939,000
Date of notice: 02 Apr 2019
Date notice received by Listed Issuer: 02 Apr 2019

Remarks :
The announcement is dated April 3, 2019

Quarterly rpt on consolidated results for the financial period ended 31 Dec 2018

By | Bursa 2019 | No Comments

Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 15 Feb 2019
Category: Financial Results
Reference Number: FRA-13022019-00009

Financial Year End: 30 Jun 2019
Quarter: 2 Qtr
Quarterly report for the financial period ended: 31 Dec 2018
The figures : have not been audited

Attachments :
KOBAY FS - Qtr2 2019.pdf

Currency: Malaysian Ringgit (MYR)

FRA-13022019-00009

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 PROPOSED ACQUISITION OF PROPERTY BY PARADIGM AEROSPACE SDN. BHD.

By | Bursa 2019 | No Comments

Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 07 Jan 2019
Category: General Announcement for PLC
Reference Number: GA1-07012019-00054

Type: Announcement
Subject: OTHERS
Description: PROPOSED ACQUISITION OF PROPERTY BY PARADIGM AEROSPACE SDN. BHD.

Further to our announcement dated 6 December 2017 (Reference No. : GA1-06122017-00078), 14 March 2018 (Reference No. : GA1-08032018-00017) and 16 March 2018 (Reference No.: GA1-15032018-00101), we, the Board of Directors of Kobay Technology Bhd. (“Kobay” or “the Company”) wishes to announce that the agreement for the purchase and sale of all that piece of land and hereditaments held under H.S. (D) 33005, PT 1529, Mukim 01, Daerah Seberang Perai Tengah, Pulau Pinang from Messrs. Bright Entity Sdn. Bhd. (Company No.: 797701-U) by Paradigm Aerospace Sdn Bhd (Company No.: 1258406-W), a wholly owned subsidiary of Kobay Industries Sdn. Bhd. (Company No.: 491485-V), has been completed on 28 December 2018, as notified by our solicitors vide letter dated 4 January 2019.

This announcement is dated 7 January 2019.

OTHERS Incorporation of a New Company

By | Bursa 2018 | No Comments

Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 21 Dec 2018
Category: General Announcement for PLC
Reference Number: GA1-21122018-00119

Type: Announcement
Subject: OTHERS
Description: Incorporation of a New Company

The Board of Directors of Kobay Technology Bhd. (308279-A) (“Kobay”) is pleased to announce that Kobay has on 21 December 2018 incorporated a new 50% owned dormant company namely Kobay UA Sdn. Bhd. (Company No. 1308454-A ) (“the Incorporation”).

The initial issued share capital and equity of the Company is RM2.00 for which 50% is owned by Kobay.

This announcement is dated 21 December 2018.

Quarterly rpt on consolidated results for the financial period ended 30 Sep 2018

By | Bursa 2018 | No Comments

Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 22 Nov 2018
Category: Financial Results
Reference Number: FRA-21112018-00037

Financial Year End: 30 Jun 2019
Quarter: 1 Qtr
Quarterly report for the financial period ended: 30 Sep 2018
The figures : have not been audited

Attachments :
KOBAY FS - Qtr1 2019.pdf

Currency: Malaysian Ringgit (MYR)

FRA-21112018-00037a

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

GENERAL MEETINGS: Outcome of Meeting

By | Bursa 2018 | No Comments

Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 22 Nov 2018
Category: General Meeting
Reference Number: GMA-21112018-00002

Type of Meeting Annual General Meeting
Indicator Outcome of Meeting
Date of Meeting 22 Nov 2018
Time 02:30 PM
Venue 4th Floor, Wisma Kobay,
No. 42-B Jalan Rangoon,
10400 Georgetown,
Penang
Outcome of Meeting The Company wishes to announce that all the resolutions as set out in the Notice of 24th Annual General Meeting (“AGM”) dated 30 October 2018, had been approved by way of poll at the AGM of the Company held today, 22 November 2018.

The Audited Financial Statements for the financial year ended 30 June 2018 together with the reports of the Directors and Auditors thereon, were properly laid and received by the members present at the 24th AGM.

The voting in respect of the resolutions was carried out by way of poll and the results were validated by Messrs Value Creator Consultancy, the Independent Scrutineer appointed by the Company. Details of the said results are set out in the attachment.

This announcement is dated 22 November 2018.

Voting Results

GMA-21112018-00002b

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