ARTICLE ENTITLED : "TIME Eng narrows partner search to 2 European telcos"
TIME ENGINEERING BERHAD |
Type | Reply to query |
Reply to Query Letter by KLSE reference ID | CY-000912-65637 |
Subject | ARTICLE ENTITLED : "TIME Eng narrows partner search to 2 European telcos" |
Contents :
We refer to the announcement dated 13 September 2000 in respect of the above news article appearing in The Business Times, pages 1and 24 on Tuesday 12 September 2000.
The Company wishes to reiterate that the discussions being held with the several technology parties are still at the preliminary stage. The Company would like to respect the wish of certain technology parties to remain anonymous at this stage of the discussions.
The Company will make an appropriate announcement when an agreement has been reached with the technology partner.
Query Letter Contents :
We refer to the above news article appearing in the Business Times, pages 1
and 24, on Tuesday, 12 September 2000, a copy of which is enclosed for your
reference.
In particular, we would like to draw your attention to the underlined sentences
which are reproduced as follows:-
"Time Engineering Bhd is believed to have narrowed down its search for a
strategic partner for Time DotCom Bhd to two European telecommunication
companies."
"... the two telcos in the running are Deutsche Telekom AG of Germany and
France Telecom SA."
"It is believed talks with the foreign telcos currently centre on technical
cooperation and questions of equity participation would only be discussed at a
later stage."
"... there might in fact be opportunities for cooperation between Time Dotcom
and Celcom to offer third generation (3G) cellular telephony services."
In accordance with the Exchange's Corporate Disclosure Policy, you are
requested to furnish the Exchange with an announcement for public release
confirming or denying the above reported article and in particular the
underlined sentences after due and diligent enquiry with all the directors,
substantial shareholders and all such other persons reasonably familiar with
the matters about which the disclosure is to be made in this respect. In the
event you deny the above sentences or any other part of the above reported
article, you are required to set forth facts sufficient to clarify any
misleading aspects of the same. In the event you confirm the above sentences or
any other part of the above reported article, you are required to set forth
facts sufficient to support the same.
Please furnish the Exchange with your reply within one (1) market day from the
date hereof.
Yours faithfully
LISA LAM
Senior Manager,
Listing Operations
LL/ST/CY
c.c. Securities Commission (via fax)
Announcement Info
Company Name | TIME ENGINEERING BERHAD |
Stock Name | TIME |
Date Announced | 18 Sept 2000 |
Category | General Announcement |
Reference No | TE-000918-30032 |