| Type | Announcement |
| Subject | MEMORANDUM OF UNDERSTANDING |
| Description | MEMORANDUM OF UNDERSTANDING BETWEEN TELEKOM MALAYSIA BERHAD (“TM”) AND CELCOM AXIATA BERHAD (“CELCOM”) TO COOPERATE STRATEGICALLY IN PROVIDING COMPLETE FIXED AND MOBILE SOLUTIONS |
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We wish to announce that Telekom Malaysia Berhad (TM) and Celcom Axiata Berhad (Celcom) today entered into a a Memorandum of Understanding (MOU) to record the parties’ initial intent and shall form the basis on which the Parties shall examine the feasibility in providing fixed and mobile solutions with regard to (i) High Speed Broadband (HSBB) Services comprising HSBB (Access), HSBB (Transmission) and internet connectivity Services for Celcom subscribers; (ii) Digital Subscriber Line Access Services for Celcom subscribers; (iii) Fiber Network System via Long Term lease for Celcom network and (iv) Mobile Virtual Network Operator (MVNO) services to TM (“Services”).
Under the terms of the MOU, the parties shall collaborate and work together to determine the viability of the Services in the Parties’ best interests which context shall take into consideration of return on investment from the implementation of the Services. The MOU shall be valid and remain in force for a period of one (1) year until and unless the following event first occur: (i) the definitive agreements with regard to the Services are executed within two (2) months from the date of the MOU; or (ii) such further extended period as may be mutually agreed in writing between the Parties has expired; or (iii) the MOU is earlier terminated as provided therein. Further update including financial effect and interest of directors and/or major shareholders together with other relevant information will be disclosed when the definitive agreements with regard to the Services have been entered into between the parties. This announcement is dated 22 February 2011. |
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| Company Name | TELEKOM MALAYSIA BERHAD |
| Stock Name | TM |
| Date Announced | 22 Feb 2011 |
| Category | General Announcement |
| Reference No | TM-110222-4ACB7 |