TECHNOLOGY RESOURCES INDUSTRIES BERHAD

TECHNOLOGY RESOURCES INDUSTRIES BERHAD

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Company Overview
The company is engaged in investment holding and provision of management services focusing on telecommunications, property investment and development, provision of recreation and sports facilities, and provision of securities services. It was incorporated in 1966 and has its registered office in Kuala Lumpur, Malaysia. The company’s business operation also specializes in other activities including provision of mobile, fixed and multimedia services; provision of radio trunking; provision of training related services; dealing in marketable securities; renting motorhomes; property investment; and investment holding. Its operations are carried out in Malaysia, Kingdom of Cambodia, the People’s Republic of China, the United Republic of Tanzania, the United Republic of Zanzibar, Hong Kong and the People’s Republic of Bangladesh.
Business Summary
Technology Resources Industries Bhd’s principal activities include investment holding and provision of management services. The Group’s principal activities are: Telecommunications; Property investment and development; The provision of recreation and sports facilities; and Provision of securities services.

* Delisted from KLSE effective from 08.15.2003.
Description and history
Originally identified with the manufacture and sale of ‘Sharp’ brand electrical products in JV with Sharp Japan, Trusmadi Sdn Bhd, and the Roxy Group of Companies, the Company (TRI) made a bold move in 1993 to divest its non-telecommunications related businesses and focus solely on telecommunications related areas.

In line with its vision of becoming a fully integrated communications company, TRI has since undergone further restructuring that has seen the development of seven core business thrusts, namely mobile services, transmission, international gateway, fixed network, value added services/multimedia applications, data group/other services, and international ventures.

The Group?s telecommunications operations are carried out through subsidiary Cellular Communications Network (Malaysia) Sdn Bhd (Celcom), the first private operator involved in cellular telecommunication besides Telekom Malaysia Bhd. Entry into the international telecommunications scene followed via JVs and other arrangements with companies in Cambodia, China, Tanzania, Bangladesh, and Canada.

The Company is currently in the final stage of a debt restructuring exercise in respect of US$375m convertible bonds and RM50m Danaharta loan. A consolidated trust deed agreement has been signed on 23rd November 2000 with the trustee of the bondholders which stipulates revised terms and conditions of the Company?s financial obligation. The trust deed is pending approval from shareholders and the relevant regulatory authorities.

Subsequent to this, the Company has, on 28th June 2001, announced to undertake a proposed restricted issue, rights issue, early redemption option, debt refinancing, and internal restructuring. The early redemption option proposal is with regards to the restructured US$200m bonds due 2004 (now US$ variable rate bonds due 2002), restructured US$175m bonds due 2004 (now US$ variable rate bonds due 2002), and restructured RM50m overdraft and revolving credit facility with Danaharta Urus Sdn Bhd. The proposed debt refinancing is with regards to the debt obligations of Celcom (Malaysia) Sdn Bhd of approximately RM2b.

Pursuant to the proposed internal reorganisation, Celcom would become the new holding company, which would assume the listing status of TRI and emerge as the new listing vehicle of the restructured TRI Group.

‘CELCOM wishes to announce that the KLSE has, on 11 August 2003, notified CELCOM that pursuant to paragraph 11.09 of the Listing Requirements of KLSE, the entire issued and paid-up capital of CELCOM will be removed from the Official List of the Exchange with effect from 9.00 a.m., Friday, 15 August 2003.’

A reorganization scheme involving TECHNOLOGY RESOURCES INDUSTRIES BERHAD and CELCOM (MALAYSIA) BERHAD took place in October 2002. The corporate structure and business of TECHNOLOGY RESOURCES INDUSTRIES BERHAD have been reorganized. Former TECHNOLOGY RESOURCES INDUSTRIES BERHAD stockholders received shares in CELCOM (MALAYSIA) BERHAD. The listing status of TECHNOLOGY RESOURCES INDUSTRIES BERHAD on the Official List of Kuala Lumpur Stock Exchange has been transferred to CELCOM (MALAYSIA) BERHAD. TECHNOLOGY RESOURCES INDUSTRIES BERHAD has been consequently delisted on October 9th, 2002. The financials below are those of TECHNOLOGY RESOURCES INDUSTRIES BERHAD until date of the reorganization. (Source: BvD, January 2004)

Business Line
Engaged in investment holding and provision of management services focusing on telecommunications, property investment and development, provision of recreation and sports facilities, and provision of securities services
Subsidiary
REGO MULTI-TRADES SDN BHD
Advisor
ARTHUR ANDERSEN & CO
IPO date
3/15/1971
US SIC Code
4899
Company Address
23RD FLOOR
TECHNOLOGY RESOURCES TOWER
City province or state postal code
50450, 50450 KUALA LUMPUR
Phone: +60 3 2161 9555
Fax: +60 3 2163 2018
Country address: MALAYSIA
Website url: www.celcom.com.my