Contents :
INTRODUCTION
We wish to inform the Exchange that Telekom Malaysia Berhad (“TM”) has acquired a wholly owned subsidiary in Singapore in the name of Telekom Malaysia (S) Pte Ltd under the Singapore Companies Act, Cap. 50.
DETAILS OF TELEKOM MALAYSIA (S) PTE LTD
Telekom Malaysia (S) Pte Ltd is a company limited by shares with an authorised capital of S$100,000 divided into 100,000 ordinary shares of S$1.00 each. Its issued and paid-up capital is S$2.00 divided into 2 ordinary shares of S$1.00 each.
PURPOSE OF INCORPORATION
Telekom Malaysia (S) Pte Ltd was incorporated and acquired by TM to pursue further international business opportunities and provide international facilities on resale of common carrier services in Singapore. It will be used to develop bilateral relations with all carriers and also serve as TM’s gateway to the Singaporean market for business development activities.
FINANCIAL IMPACT
The said acquisition is not expected to have any immediate or material impact on the consolidated earnings of TM for the financial year ended 31 December 2002 and the consolidated net tangible assets per share of TM.
However, it is expected to enhance the operational synergies and future earnings of the Group.
DIRECTORS AND SUBSTANTIAL SHAREHOLDERS’ INTEREST
In so far as the Directors of TM are aware, none of the Directors or the substantial shareholders of TM has any interest, whether direct or indirect, in the above transaction.