Winding-Up Petition Under Section 218 Of The Companies Act 1965 By Inmiss Communication Sdn Bhd ("Inmiss") Against Mobikom Sdn Bhd ("Mobikom")

12 August 2005

Type

Announcement
Subject WINDING-UP PETITION UNDER SECTION 218 OF THE COMPANIES ACT 1965 BY INMISS COMMUNICATION SDN BHD ("INMISS") AGAINST MOBIKOM SDN BHD ("MOBIKOM")

Contents :

We refer to Telekom Malaysia Berhad’s (“TM”) announcement to Bursa Malaysia dated 11 August 2005 and the article published on page 24 of The Star, today under the section on “Nation”, reporting that Inmiss has filed a winding-up petition under Section 218 of the Companies Act 1965 against Mobikom, a wholly owned subsidiary of TM, at the High Court, in respect of RM27.4 million claimed by Inmiss.


Pursuant to Paragraph 9.19(19) of the Listing Requirements of Bursa Malaysia Securities Berhad, TM wishes to announce that we have on 12 August 2005, received confirmation from Mobikom’s solicitors on the filing of the said winding-up petition by Inmiss at the High Court on 11 August 2005.

As stated in TM’s announcement on 11 August 2005, Mobikom has filed an appeal with the Court of Appeal against the High Court’s decision on 10 August 2005 in dismissing Mobikom’s application with costs for an inter parte injunction to restrain Inmiss from presenting the said winding-up petition pending the disposal of Mobikom’s applications to set aside the Arbitration Award dated 31 March 2005 in the High Court.

TM wishes to inform that the said Award against Mobikom has yet to be registered in accordance with the Arbitration Act 1952 by Inmiss’ lawyers for the purpose of enforcement. Meanwhile, Mobikom had filed an application to set aside the said Award on 22 April 2005 and the said application is currently pending in the High Court. Accordingly, the debt alleged to be due to Inmiss under the said Award is disputed and has yet to be determined by the High Court.

Based on legal advice, Mobikom has a reasonably good chance of success in its applications and appeals for the setting aside of the Arbitration Award in the High Court and the appeal against the High Court’s decision as abovementioned in the Court of Appeal respectively.

TM wishes to reiterate that the filing of the winding-up petition by Inmiss against Mobikom and the appeal lodged by Mobikom at the Court of Appeal as abovementioned will not have any material financial and operational impact on TM.

TM will make further announcement of any material development on the above matter from time to time.


Announcement Info

Company Name TELEKOM MALAYSIA BERHAD
Stock Name TELEKOM
Date Announced 12 Aug 2005
Category General Announcement
Reference No TM-050812-A729B