Category Archives: Bursa 2019

OTHERS RECOMMENDATION OF 3.0 SEN PER ORDINARY SHARE SINGLE TIER TAX EXEMPT FINAL DIVIDEND

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Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 23 Aug 2019
Category: General Announcement for PLC
Reference Number: GA1-23082019-00046

Type: Announcement
Subject: OTHERS
Description: RECOMMENDATION OF 3.0 SEN PER ORDINARY SHARE SINGLE TIER TAX EXEMPT FINAL DIVIDEND

Pursuant to Paragraph 9.19 of the Main Market Listing Requirements, the Board of Directors’ of Kobay Technology Bhd. (“Kobay”) wishes to announce that a 3.0 sen per ordinary share single tier tax exempt final dividend is recommended for shareholders’ approval in the forthcoming Kobay Annual General Meeting for the financial year ended 30 June 2019.

The notice of book closure and the details will be announced in due course.

This announcement is dated 23 August 2019.

Quarterly rpt on consolidated results for the financial period ended 30 Jun 2019

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Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 23 Aug 2019
Category: Financial Results
Reference Number: FRA-22082019-00031

Financial Year End: 30 Jun 2019
Quarter: 4 Qtr
Quarterly report for the financial period ended: 30 Jun 2019
The figures : have not been audited

Attachments :
KOBAY FS - Qtr4 2019.pdf

Currency: Malaysian Ringgit (MYR)

FRA-22082019-00031

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

PROVISION OF FINANCIAL ASSISTANCE

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Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 13 Aug 2019
Category: General Announcement for PLC
Reference Number: GA1-13082019-00096

Subject: PROVISION OF FINANCIAL ASSISTANCE
Description: QUARTERLY DISCLOSURE PURSUANT TO PARAGRAPHS 3.1 AND 3.3 OF THE PRACTICE NOTE 11 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 2019

Pursuant to Paragraph 3.1 and 3.3 of the Practice Note 11 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 2019, 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 August 13, 2019

Attachments :
BMQ4FY2019.pdf

OTHERS Change of Equity Interest in The 12 Avenues Sdn Bhd

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Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 05 Jul 2019
Category: General Announcement for PLC
Reference Number: GA1-05072019-00049

Type: Announcement
Subject: OTHERS
Description: Change of Equity Interest in The 12 Avenues Sdn Bhd

The Board of Directors of Kobay Technology Bhd (“Kobay”) wishes to announce that on 5 July 2019 , Kobay has increased its equity interest in The 12 Avenue Sdn. Bhd. (“12 Avenues” or “the Company”) from 70% to 100% by acquiring an additional 30% from Mr. Ng Tiat Seng (“The Vendor”) for a cash consideration of RM12,000.00.

1. INFORMATION ON 12 AVENUES

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 RM100,000.00 comprising of 100,000 ordinary shares.

The intended principal activities of 12 Avenues is property development but the Company is currently dormant.

2. SALIENT TERMS OF THE SPA

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

a) Purchase consideration : RM12,000.00;

b) Payment Term : The Purchase consideration of RM12,000.00 shall be fully settled upon execution of the Share Sale Agreement and Shares Transfer Form.

3. RATIONALE AND PROSPECT OF THE PROPOSED ACQUISITION

The Vendor offer to sell and Kobay agrees to acquire his entire equity interest in 12 Avenues. Upon completion of the acquisition, 12 Avenues will become a wholly owned subsidiary of Kobay.

4. BASIS OF ARRIVIG AT THE SELLING PRICE

The consideration of RM12,000.00 is based on the unaudited net tangible assets value of 12 Avenues as at 30 June 2019.

5. 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 2019.

(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 2019.

(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.

6. HIGHEST PERCENTAGE RATIO

The highest percentage ratio applicable to the acquisition pursuant to Paragraph 10.02(g) of the Bursa Malaysia Securities Berhad Main Market Listing Requirements of Bursa Securities is 0.01%.

7. APPROVAL REQUIRED

The acquisition is not subject to the approval of the shareholders of Kobay or any regulatory authorities.

8. COMPLETION DATE

The acquisition is expected to be completed in July 2019.

9. 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 acquisition.

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

The Board of Directors are of the opinion that the acquisition is in the best interest of the Company and it is fair and reasonable and is not detrimental to the Company and its Shareholders.

11. DOCUMENT FOR INSPECTION

The Agreement 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 5 July 2019.

OTHERS APPLICATION TO STRIKE OFF A WHOLLY-OWNED SUBSIDIARY COMPANY PURSUANT TO SECTION 344 OF THE SINGAPORE COMPANIES ACT, CHAPTER 50

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Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 04 Jul 2019
Category: General Announcement for PLC
Reference Number: GA1-04072019-00041

Type: Announcement
Subject: OTHERS
Description: APPLICATION TO STRIKE OFF A WHOLLY-OWNED SUBSIDIARY COMPANY PURSUANT TO SECTION 344 OF THE SINGAPORE COMPANIES ACT, CHAPTER 50

The Board of Directors of Kobay Technology Bhd. (“Kobay”) wishes to announce that its wholly-owned subsidiary, Kobay SCM (S) Pte Ltd (Company no.: 200912806D) [“Kobay SCM”] has on 4 July 2019 submitted an application to the Accounting and Corporate Regulatory Authority (“ACRA”) to strike off its name off the Register pursuant to Section 344 of the Singapore Companies Act, Chapter 50. The said application is subject to ACRA’s approval.

Kobay SCM was incorporated in Singapore on 15 July 2009 with its issued and paid up share capital of SGD10,000/=. Kobay SCM is a wholly owned subsidiary of Kobay Industries Sdn Bhd, which in turn, a wholly owned subsidiary of Kobay.

Kobay SCM is an investment holding company and has been inactive since 2016. As such, the Board has decided to strike off the Company. Kobay SCM has fully distributed all its capital and reserve to its holding company prior to the striking off application.

The striking off is not expected to have operational impact and material financial impact on the consolidated net asset per share, earning per share, gearing, share capital and substantial shareholders’ shareholding of the Group for the financial year ending 30 June 2019.

The Board also does not foresee any risk and liability to be assumed by Kobay SCM and Kobay arising from the striking off exercise.

The Board, after due consideration of all aspects, is of the opinion that the striking off is in the best interest of Kobay.

None of the directors and/or substantial shareholders of Kobay or any person connected with them have any interest, direct or indirect, in the striking off.

The striking off does not require approval from the shareholders of Kobay, Securities Commission and any other authorities except approval of ACRA.

This announcement is dated 4 July 2019.

OTHERS Joint Venture Agreement entered into by 70% owned subsidiary company

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Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 31 May 2019
Category: General Announcement for PLC
Reference Number: GA1-31052019-00089

Type: Announcement
Subject: OTHERS
Description: Joint Venture Agreement entered into by 70% owned subsidiary company

With reference to the announcement dated 16 May 2013 of reference number : KT-130516-57893, the Board of Directors of Kobay Technology Bhd. (“Kobay” or ‘the Company”) wishes to announce that on 30 May 2019, The 12 Avenues Sdn. Bhd. (Company No.: 1027688-A)(“T12A”), the 70% owned subsidiary company of Kobay Technology Bhd. (“Kobay” or “the Company”) has received a consent letter from Mr. P. Doraisamy A/L Gopal (NRIC No.: 05136631) and Mr. Sudhakaran A/L Gopalan (NRIC No.: 7873309)(hereinafter jointly referred to as “the Proprietors”), being the landowner of the Joint Venture Agreement (“JVA”) entered between T12A and the Proprietors on 16 May 2013, to terminate the proposed development of all that piece of land held under Geran Mukim Lot 244, Tempat Sungai Renggam, Mukim Damansara, Daerah Petaling, Negeri Selangor Darul Ehsan measuring approximately 0.5435 hectares equivalent to 58,501.893 square feet (“the Development Land”).

The termination is due to T12A unable to obtain approval from relevant authorities to divert the river flow within the Development Land for which the Proprietors have acknowledged and thereby both parties amicably come into mutual agreement that the proposed JVA onto the Development Land is not possible. Hence, both parties have agreed to terminate the JVA as of 30 May 2019.

Upon the termination of the JVA, both parties shall be fully discharged all duties, covenant and liabilities pertaining to the JVA and shall not have any claim, whatsoever, against each other.

This announcement is dated 31 May 2019.

Quarterly rpt on consolidated results for the financial period ended 31 Mar 2019

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Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 17 May 2019
Category: Financial Results
Reference Number: FRA-14052019-00012

Financial Year End: 30 Jun 2019
Quarter: 3 Qtr
Quarterly report for the financial period ended: 31 Mar 2019
The figures : have not been audited

Attachments :
KOBAY FS - Qtr3 2019.pdf

Currency: Malaysian Ringgit (MYR)

FRA-14052019-00012

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

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

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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

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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)

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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

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