17 May 2001
| Type | Reply to query |
| Reply to Query Letter by KLSE reference ID | ZO-010516-53685 |
| Subject | 1. ARTICLE IN THE STAR ENTITLED : "Telekom expects cellular profit to hit RM100 mil" 2. ARTICLE IN THE SUN ENTITLED : "Telekom to spend RM900m on mobile unit Initial planned allocation is tripled in bid to capture bigger share in competitive market" |
The Star
"TELEKOM Malaysia Bhd expects its cellular operations to turn around and post a RM100mil profit next year as it aggressively expands its network and subscriber base."
"Telekom expects its cellular division to post a loss of RM100mil this financial year..."
The Sun
"He said the group has forecast a revenue of RM100 million for Telekom Cellular for the next financial year ending Dec 31, 2002."
We wish to confirm that Telekom Malaysia Berhad has set targets for its cellular company, Telekom Cellular Sdn Bhd to reduce its loss in the region of RM100 Million to RM200 Million this financial year ending 31 December 2001 and to break-even or record a profit of up to RM100 Million for next financial year ending 31 December 2002.
Based on current trend for demand on cellular services and improved network infrastructure and services, it is anticipated that the revenue will increase significantly to achieve the abovementioned targets.
We further wish to clarify that The Sun's statement was incorrect.
We refer to the above news articles appearing in The Star, Business Section,
page 1 and The Sun, Sun Biz Section, page 1, both on Wednesday, 16 May 2001, a
copy each is enclosed for your reference.
In particular, we would like to draw your attention to the underlined
sentences, which are reproduced as follows:-
The Star
"TELEKOM Malaysia Bhd expects its cellular operations to turn around and post a
RM100mil profit next year as it aggressively expands its network and subscriber
base."
"Telekom expects its cellular division to post a loss of RM100mil this
financial year ..."
The Sun
"He said the group has forecast a revenue of RM100 million for Telekom Cellular
for the next financial year ending Dec 31, 2002."
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 articles and in particular the
underlined sentences 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 sentences or any other part of the above reported
articles, you are required to set forth facts sufficient to clarify any
misleading aspects of the same. In the event you confirm the above sentences or
any other part of the above reported articles, you are required to set forth
facts sufficient to support the same, including the relevant basis and
assumptions in arriving at the above forecast.
Please furnish the Exchange with your reply within one (1) market day from the
date hereof.
Yours faithfully
KUALA LUMPUR STOCK EXCHANGE
LISA LAM
Senior Manager, Listing Operations
LL/ASL/ZOOS
c.c. Securities Commission (via fax)
| Company Name | TELEKOM MALAYSIA BERHAD |
| Stock Name | TELEKOM |
| Date Announced | 17 May 2001 |
| Category | General Announcement |
| Reference No | TM-010517-5F68B |