KUALA LUMPUR: Telekom Malaysia Bhd
(TM) reported a net loss of RM701mil for the fourth quarter ended Dec 31, 2005, versus a RM824mil net profit in the previous corresponding period, after making a huge payout of RM880mil to settle a legal dispute with DeTeAsia Holdings GmbH.
Group chief executive officer Datuk Abdul Wahid Omar said the payout was necessary so that TM would be under no threat of winding up and could move on a “clean slate and grow the business.’’ TM cellular unit Celcom (M) Bhd made the payment.
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