TM Says Committed To Supporting Malaysia's 5G Ecosystem Despite Termination Of Equity Deal With DNB

KUALA LUMPUR, Aug 26 (Bernama) — Telekom Malaysia Bhd plans to leverage its extensive fibre coverage nationwide to continue supporting the country’s fifth generation (5G) ecosystem despite the termination of a share sale agreement (SSA) by Digital Nasional Bhd (DNB) for a stake in DNB.

TM had requested and appealed for an extension of the “conditions precedent longstop date” for TM to obtain its shareholders’ approval for a stake in DNB at an extraordinary general meeting due to the SSA being a related party transaction.

Responding to the matter, TM group chief executive officer Amar Huzaimi Md Deris emphasised that it is still keen to play a major role in developing the 5G ecosystem in Malaysia.

“So, even though our appeal and our request have not been approved by DNB, there are many ways and roles (that we can play) to do that (support the 5G ecosystem).

“For example, we are the largest fibre operator in Malaysia. So I'm sure there will be a key role for us to support the 5G ecosystem, whether being in the first network or also the second network...as a contractor (or) the owner of the fibre network,” he told reporters at TM’s first half 2024 financial results media briefing today.

However, he declined to disclose details regarding the shareholders' approval.

On the impact of the SSA termination on TM’s 5G services, Amar Huzaimi reiterated that it does not affect TM’s current 5G offerings to customers as its 5G wholesale service subscription from DNB remains in place. 

“The group is committed to providing high quality converged digital offerings across various segments of its customers,” he said.

On TM's participation in Malaysia’s second 5G network, Amar Huzaimi said the telco has submitted a proposal for the “applicant information package” (AIP) and is waiting for the outcome of the process.  “The tender is still ongoing,” he added.

-- BERNAMA