Friday 29 Mar 2024
By
main news image

This article first appeared in The Edge Financial Daily on January 17, 2018

KUALA LUMPUR: Telekom Malaysia Bhd (TM) and Tenaga Nasional Bhd (TNB) have signed a memorandum of understanding (MoU) to jointly develop an implementation plan to deliver the government’s Nationwide Fiberisation Plan.

The two government-linked companies said the collaboration will capitalise on the strength of both parties, enabling the most efficient cost structure and accelerating the fibre broadband network reach, in line with the government’s move to drive Malaysia’s digital economy.

“Further, the roll-out under TM and TNB, as two of Malaysia’s leading institutions, ensures the safety and security of the nation’s strategic and critical infrastructure.

“The proposed network will also continue the existing open access participation of industry players to promote private sector competition in retail broadband,” said the two companies in a joint statement yesterday.

The MoU was signed by TM managing director and group executive officer Datuk Seri Mohammed Shazalli Ramly and TNB president and chief executive officer Datuk Seri Azman Mohd.

A definitive agreement will be signed between the parties following the finalisation of the terms.

TM’s share price rose five sen or 0.84% to close at RM6 yesterday, giving it a market capitalisation of RM22.55 billion.

TNB gained six sen or 0.38% to RM15.88 with a market capitalisation of RM89.52 billion.
 

      Print
      Text Size
      Share