Investors

Axiata Group Berhad (“Axiata”) refers to the announcement dated 4 July 2016 in respect of the Notice of Appeal dated 1 July 2016 filed by TSDTR with the Court of Appeal (“the Appeal”) against the Judgment of the High Court dated 20 June 2016 in favour of Rego (now known as Celcom Trading Sdn Bhd).

The litigation is in relation to Rego’s claim against TSDTR for amounts due to Rego pursuant to an investment agreement with Aras Capital and an indemnity letter given by TSDTR and defense and counterclaim by TSDTR seeking to avoid and rescind the indemnity letter and damages for conspiracy of RM100.0 million against Rego, Technology Resources Industries Berhad (now known as Celcom Resources Berhad) and their Directors (“Counterclaim”). The High Court have allowed Rego’s claim of RM264,525,889.77 with interest of 5% per annum from 13 May 2013 until full settlement and dismiss TSDTR's Counterclaim with costs of RM100,000 after full trial of the above matter (“Judgment”).    

Axiata wishes to announce that the Court of Appeal had today dismissed the Appeal with costs of RM15,000.00 to be paid by TSDTR to Rego.

TSDTR has one (1) month from today to file an application for leave to appeal to the Federal Court against the above decision.

Axiata will make further announcements from time to time in respect of any material developments in this matter.

This announcement is dated 29 November 2017.