Kobay Technology Bhd

OTHERS Banking Facilities accepted by Kobay Group

Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 22 May 2020
Category: General Announcement for PLC
Reference Number: GA1-22052020-00107

Subject: OTHERS
Description: Banking Facilities accepted by Kobay Group

Pursuant to Chapter 9.04(e) of Listing Requirements, the Board of Directors of Kobay Technology Bhd. (“Kobay” or “the Company”) wishes to announce that the Company has accepted the following banking facilities offered by Messrs. CIMB Islamic Bank Berhad:-

Details of Facility/ies Limit (RM) Interest Rate
Cash Line-i (CL-i) 10,000,000-00 BFR-1.0%
Revolving Credit-i (RC-i 1) 10,000,000-00 COF+1.0%
Revolving Credit-i (RC-i 2) 10,000,000-00 COF+1.0%
—————-
TOTAL 30,000,000-00
==========

Purpose of Facility/ies

CL-i/ RC-i 1 : For working capital.

RC-i 2 : For capital expenditure (capex) in relation to the Company’s manufacturing activities.

Security

That the Company do furnish the followings to the Bank as Security/ies:-

a. 3rd Party All Monies Legal Charge over the property owned by Super Tropica Development Sdn Bhd, a wholly subsidiary of Kobay, held under individual title No Hak Milik 47092, 46881, 46882, 28204, 44961, 52732, 52733, 28217, 28218, 28219 & H.S. (D) 18014, Lot 34, 35,36, 249, 251,990, 992, 993, 995, 996 & PT143, District of Timor Laut, State of Pulau Pinang in favour of the Bank.

STATEMENT BY DIRECTORS

The Board of Directors of Kobay is of the opinion that the Facilities is in the best interest of the Company.

DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS

None of the Directors’ or Major Shareholders of the Company or persons connected with them have any interest, direct or indirect in the said facilities.

This announcement is dated 22 May 2020.

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