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

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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 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.

Read: TM says Annexe 1, 2 reserve price between RM273.4m and RM312m