The termination is due to the fact that T12A is unable to obtain permission from the competent authorities to divert the river flow within the developing country for which the owners have acknowledged, and therefore both parties agree that the proposed CSA is not possible for the developing country. Therefore, both parties agreed to terminate the CSA on May 30, 2019. Referring to the communication of 16 May 2013 to the reference number: KT-130516-57893, the Board of Directors of Kobay Technology Bhd wishes. (“Kobay” or “the Company”) indicate that The 12 Avenues Sdn. Bhd. (Company No.: 1027688-A) (“T12A”), the 70% subsidiary of Kobay Technology Bhd. (“Kobay” or “the Company”) gave its approval on May 30, 2019 to Mr. P. Doraisamy A/L Gopal (NRIC No. 05136631) and Mr.
Sudhakaran A/L Gopalan (NRIC No. 7873309) (hereinafter jointly referred to as the “Owners”), is the landowner of the Joint Venture Agreement (“JVA”) entered into on May 16, 2013 between T12A and the Owners; to halt the planned development of the entire land under Geran Mukim Lot 244, Tempat Sungai Renggam, Mukim Damansara, Daerah Petaling, Negeri Selangor Darul Ehsan, with an area of approximately 0.5435 hectares, or 58,501,893 square feet (“the developing country”). At the end of the CSA, both parties are fully exempt from all obligations, agreements and commitments of the CSA and have no claim against each other. Company name: KOBAY TECHNOLOGY BERHAD Stock Name: KOBAY Date of listing: 31. May 2019 Category: General announcement for PLC Reference: GA1-31052019-00089 Type: Announcement Subject: OTHER Description: Joint venture agreement concluded by a 70% subsidiary. . . .