KUALA LUMPUR: Telekom Malaysia DMCC, a wholly-owned subsidiary of Telekom Malaysia Bhd (TM), was registered as a company with limited liability on May 23 with the Establishing Dubai Multi Commodities Centre Authority (DMCCA).
TM on May 29 was also registered as the holder of the entire issued capital of 50 shares of AED1,000 each amounting to AED 50,000 (RM1= AED0.92), resulting in Telekom Malaysia DMCC becoming its wholly-owned subsidiary.
TM in a filing to Bursa Malaysia today said the formation of Telekom Malaysia DMCC is part of it’s global expansion efforts at covering the Middle East markets.
Telekom Malaysia DMCC will also assume the role of TM’s regional sales entity, focusing on the United Arab Emirates, Qatar, Bahrain, Kuwait and Oman.