23 August 2002
| Type | Reply to query |
| Reply to Query Letter by KLSE reference ID | ZO-020814-36707 |
| Subject | ARTICLE ENTITLED : "TMNET expects 30 pc surge in revenue to RM400m" |
"Local Internet service provider TMNet Sdn. Bhd. , expects its revenue this year to surge by at least 30 per cent to RM400 million."
Further to our said reply and the Exchange's verbal request made yesterday, we furnish herewith the main basis and assumptions to support the said projection :-
1) Historically, the business of TM Net Sdn. Bhd. ("TM Net") has grown no less than 40% per year. TM Net has experienced a growth of 44% in revenue in 2001 when the market growth was 38%.
2) Research by Ovum on the Internet market (in which TM Net operates) is expected to grow by 37% in 2002.
3) The first half year performance revenue of TM Net was in the region of RM30 million per month, and on the basis of historical trend, where typically the second half-year revenue is greater than in the first half-year.
We also wish to clarify that being a mere revenue forecast , the bases and assumption are not audited or reviewed by the external auditors.
We refer to the above news article appearing in New Straits Times, Business
Times section, page B5, on Wednesday, 14 August 2002, 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:-
"LOCAL Internet service provider TMNet Sdn Bhd expects its revenue this year to
surge by at least 30 per cent to RM400 million ..."
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,
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 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, including the relevant basis and assumptions in
arriving at the above forecast. In this respect, you are also required to
confirm whether the accounting bases, calculations and assumptions have been
reviewed by the external auditors.
Please furnish the Exchange with your reply within one (1) market day from the
date hereof.
Yours faithfully
KOAY LEAN LEE
Manager, Listing Operations
KLL/WSW/ZOOS
c.c. Securities Commission (via fax)
| Company Name | TELEKOM MALAYSIA BERHAD |
| Stock Name | TELEKOM |
| Date Announced | 23 Aug 2002 |
| Category | General Announcement |
| Reference No | TM-020823-52698 |