TM: Non-core property asset sale to create long-term value for shareholders

KUALA LUMPUR (Feb 28): Telekom Malaysia Bhd (TM) said today the sale of non-core property assets, such as land and buildings, is consistent with the group's strategy to create long-term value shareholders by strengthening the balance sheet and focusing the company's portfolio on its core business that will drive growth.

*TM to sell two annexe towers for between RM273.4m and RM312m

TM said this in an emailed response to queries by theedgemarkets.com on the proposed sale of TM's Annexe 1 and Annexe 2 buildings at its headquarters here.

"TM has always and will continue to explore options to unlock value for the TM Group, including the sale of non-core property assets such as land and buildings.

"We are unable to comment further on this as the tender process is still ongoing," TM said.

Yesterday, theedgemarkets.com, quoting a TM official, reported that the reserve price range for the properties is between RM273.4 million and RM312 million. — theedgemarkets.com

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