Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 25 Oct 2023
Category: General Announcement for PLC
Reference Number: GA1-25102023-00056
Type: Announcement
Subject: MATERIAL LITIGATION
Description: ARBITRATION PROCEEDINGS COMMENCED BY KHOR KHYE HING CONSTRUCTIONS SDN. BHD. AGAINST LD GLOBAL SDN. BHD.
The Board of Directors of Kobay Technology Bhd. (“Kobay”) wishes to announce that Khor Khye Hing Construction Sdn. Bhd. [(Registration No. 199701009564 (425060-T)] (“KKH” or “the Claimant”) has filed Statement of Case in the Arbitration (“the Arbitration”) against LD Global Sdn. Bhd. (Registration No.200001016150 (518757-T)] (“LD Global” or “the Respondent”), a wholly-owned subsidiary of Kobay for the dispute between KKH and LD Global emanated from Letter of Award dated 7 July 2017 and PAM Contract 2006 (“the contract”) for the construction of Lavanya Langkawi Serviced Villa Project (“the Project”).
Kindly refer to the attachment for further details.
This announcement is dated 25 October 2023.
Please refer attachment below.
Attachments :
Bursa Announcement_Arbitration LD vs KKH.pdf