TMI planning fund raising this quarter

Reuters is reporting that Malaysian mobile group TM International (TMI) is planning to issue right shares this quarter in a bid to raise funds to repay debts. The company currently owes approximately MYR2 billion (USD559.5 million) to Telekom Malaysia, which is due for payment by April this year. State investment company Khazanah, which owns a 44.51% stake in TMI, is expected to participate in the book building exercise.