Jul 29 2009, 09:51 PM
QUOTE
Celcom rejects Compugates' request over extension
KUALA LUMPUR: COMPUGATES HOLDINGS BHD [] failed in its bid to convince Celcom Sdn Bhd to extend the distributorship agreements for the latter's products which had been terminated with effect from July 29.
Compugates said on July 29 its unit Compugates Sdn Bhd rexceived a reply letter from Celcom, rejecting the request for Celcom to re-consider its decision to terminate the agreements. Celcom had on July 14 given it 14 days written notice to terminate the agreement but Compugates decided to appeal for an extension.
However, Compugates had on July 15, written to Celcom to re-consider the decision to terminate the agreement.
Based on Compugates' audited consolidated financial statements as at Dec 31, 2008, the group recorded revenue of RM686.97 million of which Celcom contributed RM305.51 million (44.47%) with a net loss after taxation of RM335,000,” it said.
Doesnt looks good.. Celcom pull out the water supply to compugates..KUALA LUMPUR: COMPUGATES HOLDINGS BHD [] failed in its bid to convince Celcom Sdn Bhd to extend the distributorship agreements for the latter's products which had been terminated with effect from July 29.
Compugates said on July 29 its unit Compugates Sdn Bhd rexceived a reply letter from Celcom, rejecting the request for Celcom to re-consider its decision to terminate the agreements. Celcom had on July 14 given it 14 days written notice to terminate the agreement but Compugates decided to appeal for an extension.
However, Compugates had on July 15, written to Celcom to re-consider the decision to terminate the agreement.
Based on Compugates' audited consolidated financial statements as at Dec 31, 2008, the group recorded revenue of RM686.97 million of which Celcom contributed RM305.51 million (44.47%) with a net loss after taxation of RM335,000,” it said.
By the way.. the agreement expired or contract terminated prematurely? If prematurely, why compugates didnt get compensation?
Lets see how things goes tomorrow.. Big guys always like bad news..
This post has been edited by Brotherjoe: Jul 29 2009, 09:54 PM
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