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Kuala Lumpur High Court (Commercial Division) Originating Summons no. D5-24-22-2008 Mohd Shuaib Ishak Vs Celcom (malaysia) Berhad Kuala Lumpur High Court (Commercial Division) Civil Suit No. D3-22-1242-2008 Statutory Derivative Action

Back 01 Aug 2008
General Announcement
Reference No TI-080801-69181

Submitting Merchant Bank
:
 N/A 
Company Name
:
 TM INTERNATIONAL BERHAD 
Stock Name
:
 TMI
Date Announced
:
 01/08/2008


Type
:
 Announcement
Subject
:
KUALA LUMPUR HIGH COURT (COMMERCIAL DIVISION)
ORIGINATING SUMMONS NO. D5-24-22-2008
MOHD SHUAIB ISHAK vs CELCOM (MALAYSIA) BERHAD

KUALA LUMPUR HIGH COURT (COMMERCIAL DIVISION)
CIVIL SUIT NO. D3-22-1242-2008
STATUTORY DERIVATIVE ACTION

Contents
:
TM International Berhad ("TMI") refers to its previous announcements dated 9 July 2008 (in respect of item no. 1 above) and 29 July 2008 (in respect of item no. 2 above) concerning its wholly-owned subsidiary Celcom (Malaysia) Berhad ("Celcom").

Announcement Details :

In reference to the announcement dated 9 July 2008, the Court granted Mohd Shuaib Ishak leave to file a derivative action in Celcom's name under Section 181A (1) of the Companies Act 1965 ("Derivative Action") i.e. prayer 1 of the Originating Summons (item no. 1 above) but did not make any consequential orders in relation to the conduct of the Derivative Action as sought in prayer 2 of the Originating Summons. Celcom had on the same day filed an appeal to the Court of Appeal, where no date has been fixed yet. Celcom also subsequently filed an application for stay of all proceedings pending the outcome of the appeal.

The Court has today directed that all proceedings in the Originating Summons (item no. 1 above) and all proceedings in the Derivative Action (item no. 2 above) be temporarily stayed until 19 September 2008, a date on which the Court will decide whether to grant a stay of all the proceedings in the Originating Summons and in the Derivative Action pending the appeal.


This announcement is dated 1 August 2008.