KUALA LUMPUR (Sept 8): Telekom Malaysia Bhd signed a five-year agreement with Bank Simpanan Nasional (BSN) to provide wide-area network services to BSN's 413 branches nationwide.
Telekom Malaysia's group chief executive officer Tan Sri Zamzamzairani Mohd Isa said it would offer connectivity, besides information and communication technology (ICT) services to BSN.
"With the end-to-end managed ICT services, BSN will be able to focus more on its core business, improving its efficiencies and overall experience enjoyed by the community it serves.
"We normally don't disclose the value (of the contract), because we don't want our competitor to know," Zamzamzairani said. He was speaking at a press conference during the signing ceremony of the collaboration agreement between Telekom Malaysia and BSN.
Zamzamzairani said the BSN project was 40% completed and Telekom Malaysia expected to finish the project by the first quarter of 2016.
Looking ahead, he said Telekom Malaysia hoped to extend its service agreement with BSN for another five years.
On the RM1.8 billion high speed broadband phase 2 project, Zamzamzairani said Telekom Malaysia's discussion with the government was expected to be completed within the next two months.
He said the discussion "is in the finalisation stage now".
At 12:30pm market break today, Telekom Malaysia shares advanced one sen or 0.16% to settle at RM6.46. for a market value of RM24.28 billion. Telekom Malaysia had fallen 6% this year versus the FBM KLCI's 10% decline.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)