Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 18 May 2012
Category: General Announcement
Reference Number: KT-120518-55143
Description: Credit Facilities accepted by a wholly owned subsidiary company
Pursuant to Chapter 9.04 of Listing requirements, the Board of Directors of Kobay Technology Bhd. (“Kobay”) wishes to announce that on 18 May 2012, LD Global Sdn. Bhd. (“the Company”), a wholly owned subsidiary company of Kobay, has accepted a credit facilities of USD Back-to-Back Letter of Credit (“BBLC”) and Foreign Currency Trade Finance (“FCTF”) of USD 10 million offered by OCBC Bank (Malaysia) Berhad (“the said credit facilities”) to facilitate the company’s intention in trading of fertilizer urea N46%. The credit facilities are subject to issuance/acceptance commission of 0.1% per month or minimum of USD100/- for BBLC and 1% per annum financing commission for FCTF. Kobay will provide a corporate guarantee of USD10 million for the said credit facilities. The said credit facilities will not be fully utilized immediately and the actual facilities to be drawn down will depend on the trading volume when the activities commence.
This announcement is dated 18 May 2012.