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KL High Court Suit No. D8-22-36-2001-Excape.Net Communications (1996) Inc [Formerly Known As Orion Technologies (Canada) Inc.] Vs Telekom Multi-Media Sdn Bhd

15 October 2002

Type Announcement
Subject KL HIGH COURT SUIT NO. D8-22-36-2001 – EXCAPE.NET COMMUNICATIONS (1996) INC [Formerly known as Orion Technologies (Canada) Inc.] VS TELEKOM MULTI-MEDIA SDN BHD

Contents :

Telekom Malaysia Berhad ("TM") wishes to announce that the Plaintiff, Excape.net Communications (1996) Inc., has sought an out of court settlement from Telekom Multi-Media Sdn Bhd (“TMMSB”), a wholly owned subsidiary of TM in respect of their claim filed on 9 January 2001 against TMMSB for damages of RM105.7 Million for loss of profits and Canadian dollar 0.9 Million for expenses incurred.


Following a series of negotiation, the Plaintiff accepted RM1.2 Million as full and final settlement ("Settlement Sum") of its claim against TMMSB vide KL High Court Suit No. D8-22-36-2001.

The Settlement Sum had been remitted to the Plaintiff's solicitor, Messrs Tay & Partner's bank account on 30th September 2002. Upon payment of the above Settlement Sum, the Plaintiff and TM have filed and served on each other the Notices of Discontinuance of the claim and counter-claim dated 7 and 8 October respectively. The above matter is now discontinued with no liberty to file afresh and each party shall bear its own legal costs.

Announcement Info

Company Name TELEKOM MALAYSIA BERHAD
Stock Name TELEKOM
Date Announced 15 Oct 2002
Category General Announcement
Reference No TM-021015-52028