Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 10 Oct 2016
Category: General Announcement for PLC
Reference Number: GA1-10102016-00078
Type: Announcement
Subject: OTHERS
Description: UPDATED ANNOUNCEMENT ON IMPAIRMENT LOSS IN RELATION TO NON-REPAYMENT OF STAKEHOLDER SUM BY STAKEHOLDER
Further to our announcement dated 27 May 2016 (reference no.: GA1-27052016-00034) and 31 May 2016 (reference no.: GA1-31052016-00127) on the impairment loss in relation to the non-repayment of Stakeholder Sum by Stakeholder, the Board of Directors of Kobay Technology Bhd. (“Kobay” or “the Company”) wishes to announce that on 7 October 2016, the Company had initiated civil suit against Miss Jaswinder Kaur and partner of Messrs. Jaswinder Kaur Gill & Associates, by serving the Writ of Summon and Statement of Claim to them on the Stakeholder sum of RM3.4million inclusive interest of 5% per annum on the Stakeholder sum until the date of full payment. The case is fixed for case management on 3 November 2016.
This announcement is made on 10 October 2016.