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Special Liquidation For Tripoly Communication Technology Corporation Ltd Pursuant To Chapter 3 Of Procedures For Liquidation Of Foreign-Funded Enterprise Of The People's Republic Of China

21 February 2008

Type Announcement
Subject SPECIAL LIQUIDATION FOR TRIPOLY COMMUNICATION TECHNOLOGY CORPORATION LTD PURSUANT TO CHAPTER 3 OF PROCEDURES FOR LIQUIDATION OF FOREIGN-FUNDED ENTERPRISE OF THE PEOPLE’S REPUBLIC OF CHINA
Contents
Telekom Malaysia Berhad (“TM”) wishes to announce that its wholly owned subsidiary, Technology Resources Industries Berhad (“TRI”) held via Celcom (Malaysia) Berhad, had today received a confirmation from its solicitors that a Special Liquidation (“Special Liquidation”) had commenced on 20 February 2008 in respect of its subsidiary, Tripoly Communication Technology Corporation Ltd (Company No. Gongshangqihejingzi 6567) (“Tripoly”) pursuant to Chapter 3 of Procedures For Liquidation of Foreign-Funded Enterprise of the People’s Republic of China.
    Information on Tripoly

    Tripoly was incorporated in the People’s Republic of China on 5 November 1993. Currently it has an authorised capital of USD1,000,000 and a paid up capital of USD1,000,000. TRI holds 80% of the total equity of Tripoly whilst Beijing Yuan Tong Electronic System United Company (“Beijing Yuan Tong”), holds the remaining 20%. Tripoly’s principal activity was to manufacture and sell telephone auto answering machines, calculator’s software and hardware, communication engineering programme and technical support inquiry services. Tripoly’s business licence was revoked by the authorities in 2006.

    Rationale for the Special Liquidation

    The application for the Special Liquidation was made by TRI on the ground that Tripoly could not operate normally and the nominee directors of Beijing Yuan Tong could not be located. Tripoly has been treated in the books of TRI as an investment instead of a subsidiary since 2002, due to loss of control and significant influence.

    Financial Effects of the Special Liquidation

    The Special Liquidation will not have any material effect on the consolidated earnings of TM Group for the year ending 31 December 2008.

    Directors’ and Substantial Shareholders’ Interest

    None of the Directors and Substantial Shareholders of TM or persons connected with them has any interest, direct or indirect, in the Special Liquidation.

Announcement Info

Company Name TELEKOM MALAYSIA BERHAD
Stock Name TM
Date Announced 21 Feb 2008
Category General Announcement
Reference No TM-080221-EE690