  Recent measurement of time dependent asymmetries in $B \to \phi K$ are
indicative of a new source of CP violation. We examine squark mixing in SUSY as
this new source, and using QCD improved factorization method to describe $B \to
\phi K $ decay, find the allowed range of parameter space for $\rho$ and $\psi
$, the magnitude and phase of the down type LR(RL) squark mixing parameter
$\delta^{bs}_{LR(RL)}$. We then study $B \to \phi K^{*}$ and calculate the
expected CP asymmetries in the same range of parameter space. We find that this
asymmetry is in the range 15% to $20% $ for acceptable value of $B \to phi
K^{*}$ branching ratio. We also predict the helicity dependent CP asymmetries
in the same parameter space.
