Contents :
INTRODUCTION
We wish to inform the Exchange that Telekom Malaysia Berhad ("TM") has acquired a wholly owned subsidiary in United Kingdom in the name of Telekom Malaysia (UK) Limited under the (UK) Companies Act, 1985 on 21 December 2000.
DETAILS OF TELEKOM MALAYSIA (UK) LIMITED
Telekom Malaysia (UK) Limited ("TM (UK)") is a company limited by shares with an authorised capital of £1,000.00 divided into 1,000 ordinary shares of £1.00 each. Its issued and paid up capital is £1.00.
PURPOSE OF INCORPORATION
TM (UK) was incorporated for TM to pursue further international business opportunities and provide international facilities on resale common carrier services in the United Kingdom. It will be used to develop bilateral relations with all carriers and also serve as TM's gateway to the European market for business development activities.
FINANCIAL IMPACT
The said acquisition is not expected to have any immediate or material impact on the consolidated earnings of TM for the financial year ended 31 December 2000 and the consolidated net tangible assets per share of TM.
However, it is expected to enhance the operational synergies and future earnings of the Group.
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 above said transaction.