For Immediate Release
May 20, 1997
NTT and TM agree to establish joint venture company to promote intelligent building system business in Malaysia
Nippon Telegraph and Telephone Corporation (NTT) and Telekom Malaysia Berhad (TM) announced today that NTT and TM have agreed to establish a joint venture company in Malaysia to promote intelligent building system business in Malaysia. Signing was done by Mr.Junichiro Miyazu (President of NTT) and Datuk Mohamad Said Bin Mohamed Ali (Chief Executive of TM).
1. Outline of the Joint Venture Company
Paid-up capital will be eleven million Ringgit Malaysia. NTT will own a 30% share and TM 70%.
2. Business Objectives
The company's objective is to provide mostly advanced intelligent building system services to the market which is expected to expand sharply. It will be the first focus on the market in Malaysia.
The company is to be established by the end of June 1997.
Attachment
NTT's profile
| 1. Officail Name: | Nippon Telegraph and telephone Corporation |
| 2. Established: | April 1, 1985 |
| 3. Capital: | 795,600 million Japanese Yen (as of March 1996) |
| 4. No. of Employees: | 185,500 (as of March 1996) |
| 5. Head office: | Tokyo, Japan |
TM's profile
| 1. Official Name: | Telekom Malaysia Berhad |
| 2. Established: | January 1, 1987 |
| 3. Capital: | 199 million Ringgit Malaysia (as of March 1996) |
| 4. No. of Employees: | 28,400 (as of march 1996) |
| 5. Head office: | Kuala Lumpur Malaysia |
Joint Venture Company's profile
| 1. Established: | The end of June 1997 |
| 2. Capital: | Eleven million Ringgit Malaysia |
