Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 30 Sep 2022
Category: General Announcement for PLC
Reference Number: GA1-30092022-00064
Type: Announcement
Subject: TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RECURRENT RELATED PARTY TRANSACTIONS
Description: VARIATION BY 10% OR MORE BETWEEN ACTUAL VALUE OF RECURRENT RELATED PARTY TRANSACTIONS (RRPT) AND ESTIMATED AGGREGATED VALUE
Pursuant to Paragraph 10.09(2)(e) of the Main Market Listing Requirements and Practice Note 12 of Bursa Malaysia Securities Berhad, Kobay Technology Bhd. (“Kobay”) wishes to announce that the mandate given by the members of Kobay during its 27th Annual General Meeting (“AGM”) held on 28 December 2021 where the estimated value approved for the RRPT transaction between Avelon Healthcare Sdn. Bhd. and its related company Arise Healthcare Sdn. Bhd. was RM3 million and to-date, the said transaction has exceeded the estimated value by more than 10% as illustrated in the chart below.
This announcement is dated 30 September 2022.