Contents :
INTRODUCTION
We wish to inform the Exchange that Telekom Malaysia Berhad ("TM") has incorporated TM (USA) Inc. as its wholly-owned subsidiary in the United States of America ("USA") under the State of Delaware General Corporation Law on 26 May 2000.
DETAILS OF TM (USA) INC.
TM (USA) Inc. is a private company limited by shares with an issued and paid-up capital of USD5,000.00 comprising of 5,000 shares of common stock with a par value of USD1.00 per share.
PURPOSE OF INCORPORATION
TM (USA) Inc. was incorporated to allow TM to provide international facilities based on/or resale common carrier services in the USA. It will be used to develop bilateral relations with all carriers and also serve as a gateway for business development activities. By positioning a gateway in USA, TM hope to leverage on a more speedy proximity to USA related market trends and information.
FINANCIAL IMPACT
The said incorporation is not expected to have any immediate or material impact on the consolidated earnings of TM for the current financial year ending 31 December 2000 and the consolidated net tangible assets per share of TM.
DIRECTORS AND SUBSTANTIAL SHAREHOLDERS' INTEREST
In so far as the Directors of TM are aware, none of the Directors nor the substantial shareholders of TM has any interest, whether direct or indirect, in the abovesaid transaction.