28 February 2011
| Type | Reply to query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | NM-110225-56647 |
| Subject | Kuala Lumpur High Court Civil Suit No.D-22NCC-2197-2010 ACRES & HECTARES SDN BHD v TELEKOM MALAYSIA BERHAD |
| Description | We refer to the query from Bursa Malaysia Securities Berhad dated 25 February 2011 with regard to the expected losses, if any, arising from the Writ of Summons and Statement of Claim dated 26 November 2010. |
| Query Letter Contents | We refer to your announcement dated 24 February 2011 in respect of the above matter. In this connection, kindly furnish the Exchange with the following information for public release:- The expected losses, if any, arising from the writ of summons and statement of claim. Please furnish Bursa Securities with your reply within one (1) market day from the date hereof. Yours faithfully TAN YEW ENG Head, Issuers Listing Division Regulation TYE/NMA c.c:- Head, Market Surveillance Department, Market Supervision Division, Securities Commission (via fax) |
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Further to our announcement dated 24 February 2011, we wish to clarify that at this preliminary stage of the legal suit, Telekom Malaysia Berhad (TM) is not expected to incur any losses.
Based on legal advice, TM is of the view that it has reasonably good grounds to resist Acres & Hectares Sdn Bhd’s claim. However, in the event that the decision of the Court is not in favour of TM, the expected losses to be incurred will be RM29,848,555.84 as quantified in the Statement of Claim or such other amount as may be adjudged by the Court. A further announcement will be made on any material development of the legal suit. This announcement is dated 28 February 2011. |
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| Company Name | TELEKOM MALAYSIA BERHAD |
| Stock Name | TM |
| Date Announced | 28 Feb 2011 |
| Category | General Announcement |
| Reference No | TM-110228-0B7E4 |