22 January 2001
| Type | Reply to query |
| Reply to Query Letter by KLSE reference ID | ZO-010119-53710 |
| Subject | ARTICLE ENTITLED :"Telekom restructures group into 5 distinct divisions The move allows Telekom to define its core businesses into new entities and allow each of them to draw on their resources" |
"Its South African subsidiary, Telkom South Africa, is the most profitable of all overseas venture and is slated for listing in the third quarter of this year."
We wish to inform the Exchange that the above sentence is not an official statement made by the Company.
We wish to clarify that Telkom South Africa ("Telkom SA") is not a subsidiary of Telekom Malaysia Berhad ("TM"). The shareholding structure of Telkom SA is as follows :-
Shareholder % shareholding
Government of South Africa - 70%
Thintana Communications LLC (Thintana) - 30%
TM holds 40% equity interest in Thintana through its wholly owned subsidiary, Telekom Malaysia-Africa Sdn Bhd whilst the remaining 60% equity of Thintana is held by SBC Communications Inc. TM's effective equity interest in Telkom SA is 12%.
The Board of Directors of Telkom SA together with the Government of South Africa through the Minister of Public Enterprises, the Minister of Communications and the Minister of Finance, have announced their commitment to ensure that the IPO of Telkom SA will proceed within this year.
TM will inform the Exchange accordingly on the actual timing of IPO of Telkom SA upon confirmation by the company.
We refer to the above news article appearing in Business Times, pages 1 and 17
, on Friday, 19 January 2001, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentence
which is reproduced as follows:-
"Its South African subsidiary, Telkom South Africa, is the most profitable of
all overseas venture and is slated for listing in the third quarter of this
year."
In accordance with the Exchange's Corporate Disclosure Policy, you are
requested to furnish the Exchange with an announcement for public release
confirming or denying the above reported article and in particular the
underlined sentence after due and diligent enquiry with all the directors,
substantial shareholders and all such other persons reasonably familiar with
the matters about which the disclosure is to be made in this respect. In the
event you deny the above sentence or any other part of the above reported
article, you are required to set forth facts sufficient to clarify any
misleading aspects of the same. In the event you confirm the above sentence or
any other part of the above reported article, you are required to set forth
facts sufficient to support the same.
Please furnish the Exchange with your reply within one (1) market day from the
date hereof.
Yours faithfully
LISA LAM
Senior Manager, Listing Operations
LL/YYT/ZOOS
c.c. Securities Commission (via fax)
| Company Name | TELEKOM MALAYSIA BERHAD |
| Stock Name | TELEKOM |
| Date Announced | 22 Jan 2001 |
| Category | General Announcement |
| Reference No | TM-010122-250E9 |