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Telekom Malaysia Registers Higher FY23 Profits, Sustaining Resilient Performance

KUALA LUMPUR: Telekom Malaysia Bhd (TM) posted a higher revenue of RM12.26 billion for the financial year ended December 31, 2023 (FY23) from RM12.1 billion posted in FY22, propelled by the strong performance of Unifi and TM Global.

TM group chief executive officer Amar Huzaimi Md Deris (left) and group chief financial officer Razidan Ghazalli (right).

Specifically, Unifi’s fixed broadband subscriptions experienced a 3.1 per cent growth, reaching 3.13 million, while TM Global’s revenue grew from heightened demand for domestic and international data services.

The group’s earnings before interest and tax (EBIT) remained flat at RM2.09 billion in FY23 due to higher operational costs.

Meanwhile, the group’s net profit rose 63.6 per cent from RM1.14 billion to RM1.87 billion due to a lower net finance cost and tax impact.

Capital expenditure (CAPEX) in FY23 stood at RM1.9 billion, or 15.9 per cent of its revenue.

These investments aimed to expand the group’s network infrastructure nationwide and regional submarine cable system.

TM declared a 2nd interim dividend and final dividend totalling 15.5 sen per share, amounting to approximately RM594.9 million, demonstrating its commitment to delivering shareholder value.

TM group chief executive officer Amar Huzaimi Md Deris said TM has sustained its performance amidst challenging regulatory landscapes, heightened competition, and evolving market dynamics.

“Our convergence solutions, paired with attractive packages, have continued to appeal to our customers, reinforcing our position as the only fixed-mobile convergence with quad-play in Malaysia.

“The ongoing expansion of our nationwide fibre coverage and enhancing our data and network infrastructure have also contributed to our growth.

“We remain committed to promoting digital inclusivity and wider digital adoption while addressing the evolving needs of our domestic and international customers,” said Amar in a statement.

He said 2023 marked the completion of TM’s initial three-year transformation phase, during which the group further solidified its position in the local and global telecommunication landscape.

“Advancing into the next level of our transformation journey, we are now focused on evolving into a Digital Powerhouse by 2030, while positioning Malaysia as a digital hub for the region.

“Our commitment aligns with the nation’s aspiration of becoming a fully integrated digital society, ensuring that we continue to play a key role in the era of digital innovation,” Amar said.

Unifi maintains its leadership in converged offerings of fixed broadband, mobile services, digital content and solutions for consumers and micro, small and medium enterprises (MSMEs), recording RM5.66 billion in revenue.

Unifi’s fixed broadband segment grew 3.1 per cent to 3.13 million subscribers, driven by strategic convergence campaigns and aggressive customer retention efforts.

As a preferred partner to more than 400,000 MSMEs nationwide, Unifi Business continues accelerating digital adoption by providing tailor-made solutions, offering them the tools and support needed to thrive in the digital economy.

Looking ahead, Unifi will further cement its role as a leader in convergence to deliver unmatched converged digital services.

TM One continues to navigate the market complexities while exploring new growth opportunities.

Despite decreased revenue to RM3.14 billion in FY23, its fourth quarter (Q4) FY23 results showed an increase in revenue of 17.3 per cent compared to the third quarter (Q3) FY23, driven by a surge in solution-based customer projects.

Moving forward, TM One is poised to remain at the forefront of supporting and enabling the digital infrastructure for government entities and enterprises.

With a focus on innovation and strategic partnerships, TM One is set to play a significant role in Malaysia’s digital transformation journey.

TM Global posted a solid financial performance in FY23, with revenue rising 8.7 per cent to RM3.10 billion, primarily from an increase in international data revenue, driven by managed wavelength services for hyperscalers, alongside an uptick in domestic data services.

In the domestic landscape, TM Global continues to expand 5G backhaul sites and high-speed broadband (HSBB) access coverage in accelerating digital inclusivity nationwide.

Globally, it recorded a year-on-year 30Tbps bandwidth growth and delivered a mega requirement of more than 35Tbps long-term leased connectivity for US-based hyperscaler.

TM Global will continue to broaden its digital infrastructure solutions and forge strategic alliances with global carriers to position Malaysia as a digital hub for the region, facilitating seamless digital connectivity and services across borders.

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