Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 16 Nov 2023
Category: General Announcement for PLC
Reference Number: GA1-16112023-00035
Type: Announcement
Subject: MATERIAL LITIGATION
Description: AIAC Arbitration between Salutica Allied Solutions Sdn Bhd (Claimant) and Paradigm Metal Industries Sdn Bhd (Respondent)
Unless otherwise defined, the definitions used in this announcement shall have the same meanings as previously defined in the earlier announcement made on 16 August 2023, 13 September 2023 and 20 October 2023 in relation to the same.
The Board of Directors of Kobay Technology Bhd wishes to announce that via a letter dated 8 November 2023 from Asian Arbitration Centre in Kuala Lumpur (“AIAC”), AIAC registered an arbitration proceeding between Salutica Allied Solutions Sdn Bhd (“Claimant”) and Paradigm Metal Industries Sdn Bhd (“Respondent”) which will be carried out under the AIAC Rules 2023.
Kobay will make the necessary announcement on further development of this matter in due course.
This announcement is dated 16 November 2023.