All posts by kobaytech

OTHERS (i) Proposed Renewal of Existing Share Buy-Back Authority; and (ii) Proposed Shareholders’ Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature

By | Bursa 2018 | No Comments

Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 18 Oct 2018
Category: General Announcement for PLC
Reference Number: GA1-18102018-00102

Type: Announcement
Subject: OTHERS
Description:
(i) Proposed Renewal of Existing Share Buy-Back Authority; and
(ii) Proposed Shareholders’ Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature

The Board of Kobay Technology Bhd. (“the Company”) wishes to announce that the Company proposes to seek its shareholders’ approval in respect of the following proposals at the forthcoming Twenty-Fourth (24th) Annual General Meeting of the Company to be convened on a date to be announced :

(i) Proposed Renewal of Existing Share Buy-Back Authority; and

(ii) Proposed Shareholders’ Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature

The Circular/Statement to Shareholders setting out the details of the proposals (i) & (ii) above will be issued and dispatched to the shareholders of the Company in due course.

This announcement is dated 18 October 2018.

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

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Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 24 Aug 2018
Category: Financial Results
Reference Number: FRA-23082018-00075

Financial Year End: 30 Jun 2018
Quarter: 4 Qtr
Quarterly report for the financial period ended: 30 Jun 2018
The figures : have not been audited

Attachments :
KOBAY FS - Qtr 4 2018 Result.pdf

Currency: Malaysian Ringgit (MYR)

FRA-23082018-00075

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 Acquisition of a New Subsidiary

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Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 25 Jul 2018
Category: General Announcement for PLC
Reference Number: GA1-25072018-00068

Type: Announcement
Subject: OTHERS
Description: Acquisition of a New Subsidiary

The Board of Directors of Kobay Technology Bhd. (308279-A) (“Kobay”) is pleased to announce that Kobay had on 25 July 2018 acquired a new wholly owned dormant subsidiary company, namely Kobay Resorts Sdn. Bhd. (formerly known as BP Jaya Development Sdn. Bhd.) for a cash consideration of RM2/= only.

The new subsidiary company was incorporated on 30 March 2015. It has not commenced its business since incorporation. Its current paid up capital is RM2/= comprising of 2 ordinary shares at an issue price of RM1 each of which have been fully paid up.

The acquisition of the new subsidiary company will not have any significant financial impact and material effect on the earnings, gearing, share capital and net tangible assets of Kobay group for the financial year ending 30 June 2019.

None of the directors or major shareholders of the Company or persons connected with them, has an interest, direct or indirect, in the said acquisition.

This announcement is dated 25 July 2018.

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

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Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 25 May 2018
Category: Financial Results
Reference Number: FRA-24052018-00074

Financial Year End: 30 Jun 2018
Quarter: 3 Qtr
Quarterly report for the financial period ended: 31 Mar 2018
The figures : have not been audited

Attachments :
KOBAY FS - Qtr 3 2018.pdf

Currency: Malaysian Ringgit (MYR)

FRA-24052018-00074

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 CHANGE OF NAME OF WHOLLY OWNED SUBSIDIARY

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Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 09 Apr 2018
Category: General Announcement for PLC
Reference Number: GA1-09042018-00102

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 Lipo Corporation Sdn. Bhd. (Company No. 491485-V), a wholly owned subsidiary of Kobay, has changed its name to Kobay Industries Sdn. Bhd. with effective from 5 April 2018. The Certificate of Incorporation on Change of Name dated 5 April 2018 issued by the Companies Commission of Malaysia was received by the Company on 9 April 2018.

This announcement is dated 9 April 2018.

OTHERS Banking Facilities accepted by Kobay Group

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Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 28 Mar 2018
Category: General Announcement for PLC
Reference Number: GA1-28032018-00026

Type: Announcement
Subject: OTHERS
Description: Banking Facilities accepted by Kobay Group

Pursuant to Chapter 9.04(e) of the Listing Requirements, the Board of Directors of Kobay Technology Bhd. (“Kobay” or “the Company”) wishes to announce that on 28 March 2018, Kobay and Paradigm Aerospace Sdn. Bhd. (formerly known as Paradigm Aero Technology Sdn. Bhd.)(Company No. 1258406-W) (“PA”), the wholly owned subsidiary company of Lipo Corporation Sdn. Bhd. (Company No.: 491485-V) (“Lipo”), for which Lipo is the wholly owned subsidiary company of Kobay, have accepted the following banking facilities offered by Messrs. Hong Leong Islamic Bank Berhad to facilitate PA’s acquisition of property as per our announcement dated 14 March 2018 with reference number GA1-08032018-00017, upgrading of the said property and Kobay’s working capital purpose.

For further details, kindly refer to the attachment.

This announcement is dated 28 March 2018.

Attachments :
Announcement - Banking Facilities accepted by Kobay PA from HLIBB.pdf

OTHERS Additional Information to Proposed Acquisition of Property by Paradigm Aerospace Sdn. Bhd.

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Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 16 Mar 2018
Category: General Announcement for PLC
Reference Number: GA1-15032018-00101

Type: Announcement
Subject: OTHERS
Description: Additional Information to Proposed Acquisition of Property by Paradigm Aerospace Sdn. Bhd.

Amended Announcements
Please refer to the earlier announcement reference number: GA1-08032018-00017

Further to our announcement with reference number GA1-08032018-00017 dated 14 March 2018 regarding the Proposed Acquisition of Property by Paradigm Aerospace Sdn Bhd, the Board of Kobay Technology Bhd. wishes to provide additional information that the Board has taken into consideration before concluding the purchase price of RM16 million.

Kindly refer to the attachment for details.

This announcement is dated 16 March 2018.

Attachments :
Kobay Additional Information on Proposed Acquisition by PA.pdf

OTHERS Proposed Acquisition of Property by Paradigm Aerospace Sdn. Bhd.

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Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 14 Mar 2018
Category: General Announcement for PLC
Reference Number: GA1-08032018-00017

Type: Announcement
Subject: OTHERS
Description: Proposed Acquisition of Property by Paradigm Aerospace Sdn. Bhd.

Further to the general announcement made on 6 December 2017 with reference number GA1-06122017-00078, the Board of Directors of Kobay Technology Bhd. (“Kobay”or “the Company”) wishes to announce that Paradigm Aerospace Sdn. Bhd. (formerly known as Paradigm Aero Technology Sdn. Bhd.)(Company No.: 1258406-W), the wholly owned subsidiary company of Lipo Corporation Sdn. Bhd. (Company No.: 491485-V) (“Lipo”), for which Lipo is the wholly owned subsidiary company of Kobay, had on 14 March 2018 entered into a Sale & Purchase Agreement to purchase all that piece of leasehold property identified as PT1529, Mukim 01, Seberang Perai Tengah, Penang held under H.S.(D) 33005, together with three manufacturing buildings and a 2-storey office erected thereon from Messrs. Bright Entity Sdn. Bhd. (Company No.: 797701-U) for a purchase price of RM16,000,000.

Kindly refer to the attachment for further details.

This announcement is dated 14 March 2018.

Attachments :
Proposed Acquisition of Property by PA.pdf

Notice of Sale or Cancellation of Treasury Shares Pursuant to Section 127 of CA 2016

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Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 14 Mar 2018
Category: Notice of Sale or Cancellation of Treasury Shares Pursuant to Section 127 of CA 2016
Reference Number: SB3-06032018-00001

Date of shares sold from 06 Mar 2018 to 06 Mar 2018
Currency Malaysian Ringgit (MYR)
Number of treasury shares sold (units) 55,000
The minimum price at which the treasury shares were sold ($$) 1.410
The maximum price at which the treasury shares were sold ($$) 1.430
Total consideration received for the treasury shares sold ($$) 77,449.78
The name of the Stock Exchange through which the treasury shares were sold Bursa Malaysia Securities Berhad
Total number of shares still in treasury (units) 0
Number of treasury shares cancelled (units)
Total issued capital as diminished 0
Date lodged with registrar of companies 14 Mar 2018
Lodged by Chan Mun Shee

MATERIAL LITIGATION KUALA LUMPUR HIGH COURT CIVIL SUIT BETWEEN NGLTECH SDN. BHD. AND BEND WELD ENGINEERING SDN. BHD.

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Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 13 Mar 2018
Category: General Announcement for PLC
Reference Number: GA1-13032018-00058

Type: Announcement
Subject: MATERIAL LITIGATION
Description: KUALA LUMPUR HIGH COURT CIVIL SUIT
BETWEEN NGLTECH SDN. BHD. AND BEND WELD ENGINEERING SDN. BHD.

Pursuant to the material litigation, bearing High Court Suit No. : WA-22C-73-07/2017 (“Suit 73”) and WA-22C-75-07/2017 (“Suit 75”), between NGLTech Sdn. Bhd. (“NGL”) and Bend Weld Engineering Sdn. Bhd. (Company No. 203565-P) (“BWE”), a wholly owned subsidiary company of Lipo Corporation Sdn. Bhd. (Company No.: 491485-V) (“Lipo”), for which Lipo is the wholly owned subsidiary company of Kobay Technology Bhd. (Company No. : 308279-A) (“Kobay” or the “Company”), and with reference to the announcements made earlier,

Date of Announcement Made Reference No. of the Announcement Made
11 July 2017 GA1-11072017-00039
13 July 2017 GA1-13072017-00038
14 July 2017 GA1-14072017-00085
25 July 2017 GA1-25072017-00125
11 September 2017 GA1-11092017-00083
26 October 2017 GA1-26102017-00016

the Board of Directors of Kobay wishes to announce that on 12 March 2018, both NGL and BWE has agreed and entered into a consent judgment for both Suits 73 and 75 with the following terms :-
1.as full and final settlement, NGL agrees to pay BWE a sum of RM200,000-00 by 25 June 2018;
2.both NGL and BWE, agree to withdraw both Suits 73 and 75 and respective counterclaim with no order as to costs, no interests and no liberty to file afresh; and
3.in the event of default of payment by NGL as per item (1) above, the full sum of RM1,389,624-85 and RM83,377-49 as Goods and Services Tax shall be immediately due and payable to BWE.

The financial impact of the consent judgement on the Group

The consent judgement with settlement sum of RM200,000-00 shall reduce the Group’s profit after tax and net assets for financial year ending 30 June 2018 by approximately RM0.9 million (net off tax impact, which is equivalent to earning and net assets per share of 0.9 sen) accordingly but the consent judgement has effectively extinguished NGL’s claim of RM2,868,712-96 against BWE.

The Directors are of the opinion that the consent judgement is in the best interest of the Company and the Group, and is not detrimental to the Company and its shareholders.

This announcement is dated 13 March 2018.

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