KUALA LUMPUR (May 10): Telekom Malaysia Bhd (TM) and US-based Hurricane Electric signed a strategic partnership agreement to offer high-speed Internet in emerging Asian markets.

In a joint statement today, TM, which owns several Asia-Pacific submarine cable systems, said it was well-positioned to help Hurricane Electric grow its business in Asia.

"As a leading provider of fiber network throughout the region, TM is particularly well-positioned to enable the growth of HE's (Hurricane Electric) footprint in Asia, now and in the coming years.

"The terms of the agreement call for TM to leverage its ownership in multiple Asia-Pacific submarine cable systems linking the major regional hubs to new and growing markets in Asia. TM participates in key regional cable projects, including MCT, BBG, SMW5, and others," TM said.

At 5pm, TM shares fell two sen or 0.3% to close at RM6.58 for a market value of RM24.73 billion. The stock saw some five million shares traded.