TM TO PAY 2006 FINAL DIVIDEND OF RM744 MILLION ON 16 JUNE 2007
Telekom Malaysia Berhad (TM) today held its 22nd Annual General Meeting (AGM) for the first time at its headquarters, Menara TM. More than 500 shareholders and guests attended the AGM to vote for the seven resolutions that were presented.
Upon conclusion of the AGM, TM also held an Extraordinary General Meeting (EGM) to seek shareholders’ approval on another six resolutions.
The shareholders voted in favour of all the resolutions both at the AGM and EGM.
22nd ANNUAL GENERAL MEETING
“The shareholders unanimously approved a final gross dividend of 30 sen per share less 27% tax. This together with the tax-exempt interim dividend of 16 sen per share paid in September 2006, brings the total dividend pay out for financial year 2006 to RM1.135 billion, representing 55% of the Group’s Profit After Tax and Minority Interest. This is in line with TM’s dividend policy, which seeks to optimise value to shareholders through dividend growth,” said Tan Sri Dato’ Ir. Md. Radzi Mansor at a press conference held after the two meetings.
EXTRAORDINARY GENERAL MEETING (EGM)
At the EGM held today after the AGM, shareholders also approved resolutions related to Recurrent Related Party Transactions of a revenue or Trading Nature (RRPT), general amendments to the Articles of Association and conversion of existing Stapled Securities into Islamic Financing. The current Stapled Securities of RM3 billion were structured in 2003 based on conventional financing principles.
“We are of the opinion that converting to Islamic Financing will enable our Company's shares to qualify as a globally Shariah-compliant stock based on the Dow Jones Islamic Index Shariah requirements. This will benefit the company by potentially widening TM's investor base especially from the Middle East. In addition, TM will also be assisting to promote the use of Islamic-based financing and contribute towards ongoing efforts to develop Malaysia as an Islamic Financial Centre” said Dato’ Abdul Wahid Omar, Group Chief Executive Officer of TM.
The shareholders also voted in favour of the general amendments to the TM’s Articles of Association to ensure that the articles are in compliance with the amended listing requirements of Bursa Securities and with other regulatory provisions.
About TM
Telekom Malaysia Berhad (TM), a leading regional information and communications group, offers a comprehensive range of communication services and solutions in fixed-line, mobile, data and broadband. As one of the largest listed companies on Bursa Malaysia with an operating revenue of more than RM16 billion, TM is driven to deliver value to its stakeholders in a highly competitive environment.
The Group places emphasis on continuing customer service quality enhancements and innovations. Currently, with investments and operations in 13 countries around Asia and globally, TM is focused on sustainable growth in both the local and international markets.
On the Corporate Social Responsibility (CSR) front, the Group has always been a major corporate contributor towards responsible activities in the belief that these practices are a fundamental tenet of good corporate governance. The Group promotes 3 major platforms i.e. education, sports development and community/nation-building. Under education, TM has spent some RM800 million to develop Multimedia University with more than 20,000 students. TM has also provided scholarships to over 10,000 graduates pursuing academic programmes locally and overseas. On the sports front, TM is actively contributing towards the upliftment of football at all levels while under the community/nation-building platform, the Group contributes towards causes that bring value to the community and nation at large.
For further information on TM, visit www.tm.com.my
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