| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | KUALA LUMPUR HIGH COURT CIVIL SUIT NO. D-22NCC-2197-2010 ACRES & HECTARES SDN BHD v TELEKOM MALAYSIA BERHAD |
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Telekom Malaysia Berhad (“TM”) wishes to announce that our appointed solicitors has today been served with a Writ of Summons and Statement of Claim dated 26 November 2010 from the solicitors for Acres & Hectares Sdn Bhd (“AHSB”).
Based on the Statement of Claim, AHSB is seeking from TM the following reliefs:
In the said Statement of Claim, AHSB claims that TM is indebted to AHSB in the sum of RM2,984,854.57 being alleged fees for consultancy works rendered to TM in relation to the management and development of TM’s landed properties at different locations in Malaysia (“the Project”). In addition, AHSB also claims damages in the sum of RM26,863,701.27 for alleged losses suffered by AHSB due to TM’s failure to proceed with the Project. Based on legal advice, TM will vigorously defend the legal suit and take all steps to protect its legal interests. Save for management cost and legal expenses, the legal suit has no material financial and operational impact on TM at present. Based on TM’s record, AHSB has instituted a similar legal suit at the Kuala Lumpur High Court under Civil Suit No. S2- 22-452-2005 against TM on 22 April 2005 and the said legal suit was dismissed by the High Court on 16 September 2009 with cost. A further announcement will be made on any material development of the legal suit. This announcement is dated 24 February 2011. |
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| Company Name | TELEKOM MALAYSIA BERHAD |
| Stock Name | TM |
| Date Announced | 24 Feb 2011 |
| Category | General Announcement |
| Reference No | TM-110224-C1E76 |