Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 07 Jan 2015
Category: General Announcement for PLC
Reference Number: KT-150107-61727
Type: Announcement
Subject: OTHERS
Description: Disposal of entire equity interest in Lipo Precision Industry (Suzhou) Co. Ltd. by wholly owned subsidiary, Lipo Corporation Sdn. Bhd.
The Board of Directors of Kobay Technology Bhd. (“Kobay”) wishes to announce that on 6 January 2015, Lipo Corporation Sdn. Bhd. (“Lipo”), a wholly owned subsidiary of Kobay, has entered into a Share Sale Agreement (“SSA”) to dispose of its entire equity interest in Lipo Precision Industry (Suzhou) Co. Ltd. (“LPI”) to Messrs. Microform Technologies Pte Ltd. (“Microform”) for a cash consideration of approximately RMB9.8million (approximately RM5.5million).
This Announcement is made on 7 January 2015.
Attachments :
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