Investors

Axiata strives to raise our shareholder value by striking a balance between
short-term profitability and long-term growth.

Planned Sale By PT Excelcomindo Pratama Tbk Of Its Telecommunications Towers And Certain Related Assets

Back 13 Feb 2009
General Announcement
Reference No TI-090213-D1884

Submitting Merchant Bank
:
 N/A 
Company Name
:
 TM INTERNATIONAL BERHAD 
Stock Name
:
 TMI
Date Announced
:
 13/02/2009


Type
:
 Announcement
Subject
:
PLANNED SALE BY PT EXCELCOMINDO PRATAMA TBK OF ITS TELECOMMUNICATIONS TOWERS AND CERTAIN RELATED ASSETS

Contents
:
We refer to our announcements on 20 August 2008, 27 August 2008 and 4 September 2008 respectively.

TM International Berhad ("TMI") wishes to inform that its subsidiary, PT Excelcomindo Pratama Tbk ("XL") has deferred its plan on the proposed disposal of its telecommunication towers and certain related assets ("Proposed Sale of Towers").

The deferment is due to offers received from tenders on the Proposed Sale of Towers did not meet XL's internal target. Prospective bidders have found it difficult to secure capital to finance the purchase of the towers in light of the current financial crisis. Notwithstanding the same, TMI wishes to reiterate that it has always been XL's intention to undertake the Proposed Sale of Towers to provide capital to support XL's expansion program to increase its subscribers.

In view of the deferment of the Proposed Sale of Towers and to support its expansion program, XL is considering to raise capital via a rights issue which may be implemented in Q209.

This announcement is dated 13 February 2009.

Announcement Details :