11 September 2002
| Type | Reply to query |
| Reply to Query Letter by KLSE reference ID | ZO-020911-50590 |
| Subject | ARTICLE ENTITLED : "Indon, Telekom officials in talks on Indosat sale" |
“TELEKOM Malaysia Bhd’s executives are meeting with Indonesian officials to discuss the possibility of buying a stake in PT Indonesian Satellite Corp (Indosat), a Telekom executive says in Kuala Lumpur.”
We wish to inform the Exchange that Telekom Malaysia’s current international strategy is to review and consolidate its investments overseas. Any new investments overseas will have to be prudently and carefully considered and we will also have to see how they fit into our overall Group strategy.
Our main consideration would be the funding necessary for such investments. We are currently concentrating on the proposed TRI merger and the impact of that funding would be our main consideration for any new investments. We are very mindful of our capacity to take debt and we want to ensure that our credit rating will not be adversely affected by future investments.
We refer to the above news article appearing in New Straits Times, Business
Times section, page B3, on Wednesday, 11 September 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:-
"TELEKOM Malaysia Bhd's executives are meeting with Indonesian officials to
discuss the possibility of buying a stake in PT Indonesian Satellite Corp
(Indosat), a Telekom executive says in Kuala Lumpur."
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.
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/WSW/ZOOS
c.c. Securities Commission (via fax)
| Company Name | TELEKOM MALAYSIA BERHAD |
| Stock Name | TELEKOM |
| Date Announced | 11 Sept 2002 |
| Category | General Announcement |
| Reference No | TM-020911-66537 |