Investors

Axiata Group Berhad (“Axiata”) refers to its announcement dated 20 December 2017 in respect of the application for leave to appeal to the Federal Court filed by TSDTR against the dismissal of their appeal in the Court of Appeal on 29 November 2017 (“Leave Application”).

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 defence 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, on 19 April 2018, the Federal Court dismissed the Leave Application with costs of RM20,000.00 to be paid by TSDTR to Rego.

Consequently, there will be no further update on this matter since TSDTR has exhausted all avenues of appeal and the same is now concluded.