1. Introduction
Pursuant to Paragraph 9.19 of the Main Market Listing Requirements ("Main LR") of Bursa Malaysia Securities Berhad ("Bursa Securities"), Telekom Malaysia Berhad (“TM”) wishes to announce that its subsidiary held via Tekad Mercu Berhad namely, Mediatel (Malaysia) Sdn Bhd (“Mediatel”), has commenced Member’s Voluntary Winding Up on 25 November 2011 in accordance with Section 254(1)(b) of the Companies Act, 1965 ("the Winding-up").
Pursuant thereto, Encik Abu Bakar Rajudin of Abu Bakar Rajudin (Insolvency Services) Sdn Bhd, Suite D, Resorts Business Suites, 18-2, Jalan Kampung Attap, 50460 Kuala Lumpur was appointed as the Liquidator.
2. Information on Mediatel
Mediatel was incorporated on 6 June 1995 principally as an investment holding company. Its authorised capital is RM4,100,000.00 comprising 100,000 ordinary shares of RM1.00 each and 80,000,000 redeemable preference shares (RPS) of RM0.05 each, out of which 1,000 ordinary shares of RM1.00 each was fully paid-up to Tekad Mercu Berhad, a wholly owned subsidiary of TM.
Mediatel was established to facilitate TM’s structured financing exercise in 1997 of which 80,000,000 RPS was issued to TM. On 17 August 2005, the RPS was fully redeemed by Mediatel and thus the company has served its purpose and remained dormant thereforth.
3. Rationale for the Winding-up
The Winding-up exercise of Mediatel is part of the rationalisation and continuing streamlining exercise of TM Group. Following the redemption of the RPS, Mediatel has served its purpose as TM's special purpose vehicle.
4. Financial Effects of the Winding-up
The Winding-up of Mediatel will not have any material effect on the consolidated earnings and net assets of TM Group for the financial year ending 31 December 2011.
5. 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 Winding-up of Mediatel.
6. Directors' Opinion on the Winding-up The Directors of TM are of the opinion that the Winding-up is in the best interest of TM. This announcement is dated 25 November 2011.
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