News

Reduction Of Shareholding In Subsidiary: N-Wave Telecoms (Malaysia) Sdn. Bhd.

TeleChoice International Limited ("TeleChoice") wishes to advise that its wholly-owned subsidiary, NexWave Telecoms Pte. Ltd. ("NWTEL") has reduced its shareholding in N-Wave Telecoms (Malaysia) Sdn. Bhd. ("NWM").

On 18 Aug 2006, NWTEL transferred 150,000 NWM shares, representing 30% of NWM's issued and paid-up share capital, to a Malaysian party, for a total consideration of RM150,001.

Prior to the transaction, NWM was a wholly-owned subsidiary of NWTEL, with a total issued and paid-ip share capital of RM500,002, comprising 500,002 NWM shares. After the transaction, NWTEL holds 350,001 NWM shares, representing 70% of NWM's issued and paid-up share capital.

The transaction is not material in the context of TeleChoice's overall operations.