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On 25 May 2007, Telekom Malaysia Berhad ("TM" or “the Company”) announced its proposed Islamic Sale and Leaseback transaction ("Proposed Transaction") involving the issuance of up to RM1,100 million Islamic Asset-Backed Sukuk Ijarah ("ABS Sukuk Ijarah") by a special purpose vehicle, Menara ABS Berhad (“MAB”).
TM is pleased to announce that the Securities Commission (“SC”) has, vide its letter dated 27 July 2007, given its approval for the Proposed Transaction, subject to inter alia, the following conditions imposed on its Principal Adviser/Lead Arranger, Citibank Berhad and/or MAB:
- To obtain SC's prior approval should there be any changes to the terms and conditions of the ABS Sukuk Ijarah;
- To notify the SC before any variation to or replacement of the identified assets for the ABS Sukuk Ijarah;
- To obtain all necessary approvals from all relevant parties in relation to the ABS Sukuk Ijarah; and
- To disclose in writing to potential investors that each ABS Sukuk Ijarah issue will carry different risks and all potential investors are strongly encouraged to evaluate each ABS Sukuk Ijarah issue on its own merit.
This announcement is dated 30 July 2007.