The Board of Directors of Kobay Technology Bhd. (“Kobay”) announced that Kobay has incorporated a new 51% owned subsidiary under Companies Act 2016, namely, Gen Plus Technologies Sdn. Bhd.(“Gen Plus”) on 7 January 2021 (“the incorporation”). The initial issued share capital and equity of the Company is MYR 100.00 for which 51% is owned by Kobay. The intended principal business activities of Gen Plus are- to distribute and trade as agent of generator set that using gas to generate electricity; to provide repair and maintenance as well as selling spare parts in relates thereto; and to build, manage and maintenance in bulk or a number of generator set on behalf of any individual or body corporate who invested for an intention to trade or sell the electricity generated by the generator to anybody includes the authority in Malaysia or any other countries. The incorporation will not have any material effect on the earning per share, net assets per shares, gearing and substantial shareholders’ shareholding of the Company and its subsidiaries for the year ended 30 June 2021.