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8th May, 2002 - The Board of Directors is pleased to announce that Chelwood Trading & Investment Company Limited, one of the substantial sharehoulders of MTC, has today completed the disposal of its entire equity interest of 54.7% in MTC to MEASAT Global Network Systems Sdn. Bhd. for a cash consideration of RM432,536,043 or RM3.905 per share. Immediately following the Chelwood Disposal, MTC has also completed the acquisition of the entire equity interest in Binariang Satellite Systems Sdn. Bhd. from MGNS.
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