Telekom Malaysia has enough cash to redeem RM2b Sukuk

KUALA LUMPUR: Telekom Malaysia Bhd has enough cash to redeem the RM2bil Sukuk due to mature on Dec 31, 2013.
Its group chief financial officer Datuk Bazlan Osman said on Tuesday the company had enough cash for the redemption, adding there was no need to issue more bonds at the moment.
As at end-2012, TM had RM3.7bil in cash and bank balances.
At
the AGM on Tuesday, TM obtained shareholders' approvals for all the
resolutions including the final dividend of 12.2 sen per share which
will be paid on May 27.
The total dividend payout including
interim dividend, of 22 sen per share or RM787mil exceeded its dividend
obligation of RM700mil.
More than 2,000 shareholders attended the AGM.
TM chairman Datuk Seri Dr Halim Shafie
said TM had surpassed the commitment set out in the public-private
partnership agreement with the government under the high speed broadband
project.
"Our UniFi
service now has close to 552,000 customers on the back of 1.39 million
premises passes covering 102 exchange areas, which translates to around
38% take-up rate, going beyond the global benchmarks of similar
roll-outs," he said.