Thursday, January 6, 2011

KWAP sells 4.8m Time dotCom shares

KUALA LUMPUR: Kumpulan Wang Persaraan (KWAP) disposed of 4.81 million shares of TIME DOTCOM BHD [] on Dec 29 and 30 in the open market when the share price rallied following fresh corporate developments including its tie-up with DIGI.COM BHD [] and Astro.

A filing with Bursa Malaysia showed KWAP sold two million Time dotCom shares on Dec 29, 2010 and 2.81 million shares the next day. The share price closed at 75.5 sen amd 77 sen.

The disposals reduced KWAP's shareholding to 7.62% or 192.83 million shares.

In December, Bhd had entered into a wavelength purchase agreement and maintenance and support agreement from Time dotCom's unit TT dotCom Sdn Bhd for RM139 million over 10 years.

TT dotCom Sdn Bhd had entered into principal terms of collaboration with MEASAT Broadcast Network Systems Sdn Bhd (Astro) for the provision of IPTV and Broadband services across the Klang Valley and Penang.

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