14 August 2009
| Type | Reply to query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | NS-090814-34174 |
| Subject | KUALA LUMPUR HIGH COURT (COMMERCIAL DIVISION) CIVIL SUIT NO. D-22-1268-2009 NETWORK GUIDANCE (M) SDN BHD v TELEKOM MALAYSIA BERHAD AND TM NET SDN BHD |
| Contents | Telekom Malaysia Berhad ("TM") refers to its previous announcement dated 12 August 2009 ("Announcement"). TM has on 14 August 2009 received the following queries from Bursa Malaysia in regard to the Announcement - 1) The details of the default or circumstances leading to the filing of the writ of summons and statement of claim. 2) The expected losses, if any arising from the writ of summons and statement of claim. 3) The financial and operational impact of the writ of summons and statement of claim on the group. |
| Query Letter Content | We refer to your Company's announcement dated 12 August 2009 in respect of the above mattter. In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa Securities") with the following additional information for public release:- The details of the default or circumstances leading to the filing of the writ of summons and statement of claim. The expected losses, if any arising from the writ of summons and statement of claim. The financial and operational impact of the writ of summons and statement of claim on the group. Please furnish Bursa Securities with your reply via an announcement within one (1) market day from the date hereof. Yours faithfully TAN YEW ENG Head, Issuers Listing Division Regulation /ZOOS c.c.Head, Market Surveillance Department, Securities Commission (via fax) |
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TM's response to the queries is as follows -
1) Network Guidance (M) Sdn Bhd ("NGSB") alleges in its statement of claim that TM, in breach of a purported joint venture agreement with NGSB, failed to implement (either by itself or through TM Net Sdn Bhd ("TM Net")) a project to integrate NGSB’s services known as “Fine TV” and the broadband connection of TM ("Project"). Further or in the alternative NGSB alleges that -
(b) TM induced NGSB to enter into the purported joint venture agreement by misrepresenting that it had the ability to implement the Project; (c) TM and TM Net wrongfully used and profited from information supplied by NGSB. 2) TM and TM Net are presently collating the relevant information in regard to the claim for purposes of filing the Statement of Defence in Court. TM will make a further announcement on the financial impact of NGSB's claim, if any, in due course. 3) Save for management cost and legal expenses, the writ and statement of claim has no financial and operational impact on the group at the present moment. |
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| Company Name | TELEKOM MALAYSIA BERHAD |
| Stock Name | TM |
| Date Announced | 14 Aug 2009 |
| Category | General Announcement |
| Reference No | TM-090814-25186 |