03 May 2002
| Type | Reply to query |
| Reply to Query Letter by KLSE reference ID | ZO-020502-56247 |
| Subject | (I) ARTICLE IN BUSINESS TIMES ENTITLED :"Telekom likely to seek seat on TRI board" (II) ARTICLE IN THE SUN ENTITLED :"Telekom may make general offer for TRI" |
"...Telekom has secured the minimum 20 per cent stake to sit on the TRI Board..."
We are pleased to announce that further to our announcement on 29 April 2002, Telekom has up to 2 May 2002, vide its subsidiary, Telekom Enterprise Sdn Bhd ("TESB") acquired, via market transactions 209,122,000 ordinary shares of RM1.00 each in Technology Resources Industries Berhad ("TRI") for a total consideration of RM568.158 million. As such, the total shareholding of Telekom and TESB in TRI is 26.12% as at 2 May 2002.
Telekom may consider approaching TRI at an appropriate time to discuss the appointment of representatives on the Board of Directors of TRI to safeguard Telekom's interest as a substantial shareholder of TRI.
With respect to the quote in The Sun on Wednesday, 1 May 2002, "Telekom Malaysia is weighing plans to either buy additional stakes or make a general offer to raise its holding in cellular rival Technology Resources Industries (TRI)..,", we wish to note that at this juncture, there is no obligation on Telekom to carry out a general offer on the remaining shares in TRI which are not owned by Telekom and its subsidiaries. However, Telekom may consider exploring with TRI the feasibility of merging both cellular businesses or co-operating in some other manner.
We refer to the above news articles appearing in Business Times, page 1, on
Thursday, 2 May 2002 and The Sun, Sun Biz Section, page 17, on Wednesday, 1 May
2002, 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:-
Business Times
"... Telekom has secured the minimum 20 per cent stake to sit on the TRI board
..."
The Sun
"Telekom Malaysia is weighing plans to either buy additional stakes or make a
general offer to raise its holding in cellular rival Technology Resources
Industries (TRI) ..."
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.
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/WSW/ZOOS
c.c. Securities Commission (via fax)
| Company Name | TELEKOM MALAYSIA BERHAD |
| Stock Name | TELEKOM |
| Date Announced | 3 May 2002 |
| Category | General Announcement |
| Reference No | TM-020503-60918 |