KUALA LUMPUR, Feb 24 – Telekom Malaysia Bhd (TM) is now focused on evolving into a digital powerhouse by 2030 while positioning Malaysia as a digital hub for the region, said group chief executive officer Amar Huzaimi Md Deris.
Towards achieving its digital powerhouse aspiration (PWR 2030), the group is focusing on three strategic anchors, namely Pioneer, Win, and Revitalise.
“Pioneer” means TM aims to lead industry growth through digitalisation and sustainability. For “Win”, it plans to maintain its leadership and infrastructure, delivering unparalleled connectivity through initiatives such as 5G and key government projects.
“2024 will also see us embarking on a platform ecosystem to enable multiple solutions with our partners, leveraging on our TM Cloud Platform and powered by, among others, artificial intelligence technology,” he told a media briefing on Friday.
On its market guidance for 2024, TM is projecting a low single-digit revenue growth this year against a 1.1 per cent growth in 2023.
Earnings before interest and tax (EBIT) is expected to be RM2.1 billion-RM2.2 billion in 2024 compared with RM2.1 billion last year; and capital expenditure (capex) is forecast to be between 14 and 18 per cent of total revenue from 15.9 per cent previously.
In a filing with Bursa Malaysia today, TM disclosed that its net profit surged 63.6 per cent to RM1.87 billion for the financial year ended Dec 31, 2023 (FY2023) from RM1.14 billion in FY2022 due to lower net finance cost and tax impact.
Revenue rose to RM12.26 billion in FY2023 from RM12.12 billion previously, propelled by the strong performance of Unifi and TM Global.
The group said Unifi’s fixed broadband subscriptions experienced a 3.1 per cent growth, reaching 3.13 million, while TM Global’s revenue grew from heightened demand for domestic and international data services.
The group’s capex in FY2023 stood at RM1.9 billion or 15.9 per cent of its revenue, which was primarily aimed at expanding the TM’s network infrastructure nationwide and regional submarine cable system.
TM also declared a second interim dividend and final dividend totalling 15.5 sen per share, amounting to a total payout RM594.9 million.
