Overview Financial Information Stock Information News & Events Resources Contact
Back to previous page

Members' Voluntary Winding-up Of TM SPV Sdn Bhd

11 October 2010

Type Announcement
Subject MEMBERS’ VOLUNTARY WINDING-UP OF TM SPV SDN
BHD
Contents Pursuant to Paragraph 9.19 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad ("Main LR"), Telekom Malaysia Berhad (“TM”) wishes to announce that its wholly-owned subsidiary, TM SPV Sdn Bhd ("TM SPV"), has commenced member's voluntary winding-up on 11 October 2010 (the "Winding-up") in accordance with Section 254(1)(b) of the Companies Act, 1965 ("CA 1965").

Pursuant thereto, Encik Mohd Afrizan bin Husain of Aftaas Consulting Sdn Bhd, 2, Jalan Rampai Niaga 2, Rampai Business Park, 53300 Kuala Lumpur was appointed as the Liquidator.
1) Information on TM SPV
    • TM SPV is a wholly-owned subsidiary of TM incorporated in Malaysia on 7 June 1993. Its authorised capital is RM100,100 comprising 100,000 ordinary shares of RM1.00 each and 1,000 Redeemable Preference Shares of RM0.10 each. Its present issued and paid capital is RM102 comprising 102 Ordinary Shares of RM1.00 each.

      TM SPV was activated as a special purpose vehicle to facilitate the privatisation of VADS Berhad via a selective capital reduction and repayment exercise pursuant to Section 64 of CA 1965 ("SCRR").

2) Rationale for the Winding-up
    • The Winding-up exercise of TM SPV is part of the rationalisation and continuing streamlining exercise of TM Group. Following the completion of the SCRR exercise, TM SPV has served its purpose as TM's special purpose vehicle and has since early 2010 ceased its operation.

3) Financial Effects of the Winding-up
    • The Winding-up will not have any material effect on the consolidated earnings and net assets of TM for the financial year ending 31 December 2010.

4) Directors' and Substantial Shareholders' Interest
    • None of the Directors and Substantial Shareholders of TM or persons connected with them has any interest, direct or indirect, in the Winding-up of TM SPV.

This announcement is dated 11 October 2010.

Announcement Info

Company Name TELEKOM MALAYSIA BERHAD
Stock Name TM
Date Announced 11 Oct 2010
Category General Announcement
Reference No TM-101007-37613