| Type | Reply to query |
| Reply to Query Letter by KLSE reference ID | ZO-020708-63993 |
| Subject | ARTICLE ENTITLED : "Time for reconciliation" |
"Some industry observers are still unsure whether Telekom should be compelled to make an immediate GO. The contention is that by gaining four seats of TRI's board, Telekom may have breached the spirit of the Malaysian Code on Takeovers and Mergers, if not the letter of Practice Note 2.4.
Telekom says its legal advisers are of the opinion that neither has been breached."
As stated in its announcement of 7 June 2002, Telekom Malaysia Berhad’s (“TM”) legal counsel has opined that TM is not obliged to undertake a mandatory offer for the remaining voting shares of Technology Resources Industries Berhad ("TRI") under the Malaysian Code on Takeovers and Mergers as a result of the change in the composition of the Board of TRI.
We refer to the above news article appearing in The Edge, page 6 , on Monday, 8
July 2002, 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:-
"Some industry observers are still unsure whether Telekom should be compelled
to make an immediate GO. The contention is that by gaining four seats on TRI's
board, Telekom may have breached the spirit of the Malaysian Code on Takeovers
and Mergers, if not the letter of Practice Note 2.4.
"Telekom says its legal advisers are of the opinion that neither has been
breached."
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
Senior Manager, Listing Operations
LL/ASL/ZOOS
c.c. Securities Commission (via fax)
| Company Name | TELEKOM MALAYSIA BERHAD |
| Stock Name | TELEKOM |
| Date Announced | 9 Jul 2002 |
| Category | General Announcement |
| Reference No | TM-020709-54280 |