KUALA LUMPUR: Kobay Technology Bhd’s shares rose over 10% in early trade Wednesday, making it among the top gainers on Bursa Malaysia. The counter added 10.61%, or 42 sen to RM4.38. Year-to-date, the counter has risen some 83%. It is currently trading at a PE ratio of 14.93 times. The company has not made any corporate announcements recently. Its last announcement on Bursa Malaysia was made on March 4 for the dissolution of a subsidiary company. On Feb 26, Kobay announced it had entered into a memorandum of understanding (MoU) with Lim Beng Cheong and Chong Huei Shin in relation to the proposed acquisition of 70% equity interest in five companies. The companies are Galaxis Pharma Sdn Bhd, Galaxis Healthcare Sdn Bhd, Avelon Healthcare Sdn Bhd, Avelon Arise Sdn Bhd and Arise Healthcare Sdn Bhd. These companies are principally involved in the retail sale of pharmaceuticals and all kinds of healthcare products. The MoU allows the parties to negotiate exclusively for a period of at least 120 days and sets out the understanding and intention in respect of the proposed acquisition Kobay said the proposed acquisition was part of the company’s strategic plan to seek an alternative revenue source by expanding its business activities into pharmaceutical and/or healthcare products.
buyappleacc.com is a professional website selling Apple Developer account for more than 3 years, choose us, provide you with the best Apple Developer account. Don't hassle, just step out.