KUALA LUMPUR, Feb 15 — Telekom Malaysia Bhd (TM) share price rose in early trade today after its subsidiary, Webe Digital Sdn Bhd, accepted an offer for a new spectrum assignment.
At 10.50 am, TM gained six sen to RM5.35 with a total of 336,500 shares changing hands.
On Monday, the company announced that Webe had accepted the Malaysian Communications and Multimedia Commission’s offer for a 20 megahertz (MHz) spectrum block in the 2,575 MHz to 2,595 MHz frequency band.
The assignment is effective from July 1, 2022, and entails a total applicable fee of RM37 million over a period of five years, including an upfront fee of RM7.06 million and the annual fee of RM5.98 million to be paid by Dec 15 each year.
MIDF Research said the increase in capacity would allow TM to provide seamless fixed and wireless access, and content to its retail and enterprise customers at home, office or on the move, aligning its mission to embark into a dynamic digital space.
“Coupled with TM’s strong and extensive fibre infrastructure, the spectrum will enable future expansion of telecommunication services to customers for an end-to-end converged experience,” it said.
The research house has maintained its “buy” call for TM with an unchanged target price of RM6.91.
