|
Type |
Reply to query |
| Reply to Query Letter by KLSE reference ID | ZO-040115-61034 |
| Subject | ARTICLE ENTITLED: "CELCOM PLANS TO SELL STAKE IN TCE" |
“CELCOM (M) Bhd, a unit of Telekom Malaysia Bhd, plans to hive off its stake in Iran’s Telecommunication Co of Esfahan (TCE), a senior company official....... said yesterday.”
We wish to clarify as follows:-
(a) The article has errorneously stated that Celcom (Malaysia) Berhad holds a 49% stake in Iran’s Telecommunication Co of Esfahan (TCE). TCE is in fact one of Celcom’s joint venture partners (via Technology Resources Industries Berhad (“TRI”)) in Mobile Telecommunications Company of Esfahan (J.V. – P.J.S.) (“MTCE”). The shareholding structure of MTCE is TRI – 49%, TCE – 49% and Iran Telecom Industries – 2%.
(b) As part of its internal restructuring, Celcom is reviewing its involvement in international ventures including MTCE and is considering various options, including disposal of its equity interest. However, since no definite plans have been made, Celcom is not able to disclose further details at this point.
“… the mobile phone company may be looking to recoup the US$23 million (US$1 = RM3.80) it has invested to install the GSM system in the Iranian city of Esfahan.”
We wish to clarify as follows:-
As disclosed in Celcom’s announcement dated 4 December 2002, total investment inclusive of advances made by TRI in MTCE is approximately US$10.2 million (approximately RM38.76 million) mainly for equipment and other fixed assets. Any plans made by Celcom with regard to its investments would be in the Company’s best interest.
We refer to the above news article appearing in The Malay Mail, MailMoney
section, page 21, on Thursday, 15 January 2004, a copy of which is enclosed
for your reference.
In particular, we would like to draw your attention to the underlined
sentences, which are reproduced as follows:-
"CELCOM (M) Bhd, a unit of Telekom Malaysia Bhd, plans to hive off its stake in
Iran's Telecommunication Co of Esfahan (TCE), a senior company official ...
said yesterday."
"... the mobile phone company may be looking to recoup the US$23 million (US$1
= RM3.80) it has invested to install the GSM system in the Iranian city of
Esfahan."
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 sentences after due and diligent enquiry with all the directors,
major 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 article,
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 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
Sector Head, Issues & Listing
Group Regulations
LL/ZOOS
c.c. Securities Commission (via fax)
| Company Name | TELEKOM MALAYSIA BERHAD |
| Stock Name | TELEKOM |
| Date Announced | 16 Jan 2004 |
| Category | General Announcement |
| Reference No | TM-040116-59625 |