Kimeng: 7 mar Malaysia Sales Briefing

DiGi - gets approval for transfer of TDC's 3G spectrum
TM International - on track for listing in 2Q 2008
Idaman Unggul – gets offer for timber unit from Datestone Group


DiGi - gets approval for transfer of TDC's 3G spectrum


DiGi.Com Bhd (DiGi) has received Malaysian Communications and Multimedia
Commission (MCMC) approval for the proposed transfer of Time dotCom Bhd's
(TDC) 3G spectrum to DiGi. The approval was subject to payment by TDC's
wholly owned subsidiary, TT dotCom Sdn Bhd, for the penalty imposed due to
non-compliance of its detailed business plan. It was also subject to MCMC's
acceptance of DiGi's RM50m irrevocable bank guarantee for the balance
duration of the spectrum assignment period. Meanwhile, DiGi said it had
received an extension of time to June 30 from the Energy, Water
and Communications Ministry to comply with the equity conditions of
its licences. The extension also applied to the deadline for Telenor Asia
Pte Ltd to reduce its equity interest in DiGi to 49%.

TM International - on track for listing in 2Q 2008

Telekom Malaysia's (TM) international mobile operations spin-off, TM
International (TMI), is on track for a listing via a simple "introduction
circular". TMI is slated to be listed in 2Q 2008 following the completion
of TM's de-merger exercise by mid-April. Post de-merger, TMI would meet
Bursa Malaysia listing requirements such as a 25% public shareholding
spread, and so could be listed without the issuance of new shares. TM group
CEO Datuk Seri Abdul Wahid Omar, however, did not rule out the possibility
of an initial public offering (IPO) being made in conjunction with the
introduction exercise. He said having obtained shareholder approval for TMI
to issue up to 10% of its share capital yesterday, an IPO would involve
this proportion of shares. The shares could be issued to the public or
a strategic partner.


Idaman Unggul – gets offer for timber unit from Datestone Group
Idaman Unggul Bhd has received an indicative offer of US$108m (RM342m)
from The Datestone Group, LLC for its timber unit, Lambang Pertama Sdn
Bhd. Lambang Pertama is the immediate holding company of Idris Hydraulic
(M) Bhd, which is involved in forest management under a sustainable
forest management licence agreement. The indicative offer was subject to
further negotiation upon agreement on the terms and conditions of the
proposed disposal, due diligence and the approval of the boards of directors of
both parties. The Datestone Group is a syariah-compliant financial
advisory company based in Florida, USA.