30 May 2024

TM Announces a Positive Start in 1Q 2024, Sustaining its Continuous Growth Trajectory

TM Announces a Positive Start in 1Q 2024,  Sustaining its Continuous Growth Trajectory Article Header
TM

Q 2024 Key Highlights (vs 1Q 2023)

  • Operating revenue grew 1.8% to RM2.84 billion
  • EBIT increased 37.5% from RM473.3 million to RM650.9 million
  • PATAMI increased 28.7% from RM330.1 million to RM424.8 million

KUALA LUMPUR, 30 May 2024 – Telekom Malaysia Berhad (“TM” or “the Group”), today announced a positive start to the fiscal year, with a strong financial performance for the first quarter ended 31 March 2024 (1Q 2024).

The Group saw its revenue increase by 1.8% to RM2.84 billion, driven by solid performance from TM Global and growth in Unifi’s subscriber base. Correspondingly, Earnings Before Interest and Tax (EBIT) grew 37.5% to RM650.9 million in the quarter under review on the back of lower total Operational Cost.

TM’s Profit after Tax and Non-Controlling Interests (PATAMI) increased by 28.7% to RM424.8 million, demonstrating its sustained profitability.

Meanwhile, the Group’s Capital Expenditure (CAPEX) stood at RM204.0 million, or 7.2% of its revenue. These investments were aimed at expanding the Group’s network infrastructure nationwide and regional submarine cable systems.

Amar Huzaimi Md Deris, TM’s Group Chief Executive Officer said, “Entering 2024, the operating environment remains challenging due to increased competition and evolving market dynamics. Nevertheless, the Group has shown a positive growth trajectory in the first quarter of 2024. This is evidenced by increased revenue, improved profitability, and steady growth in our fixed broadband subscribers, reaffirming our strong position in the market. 

“To sustain our positive momentum, we will continue enhancing our retail convergence offerings and value-added solutions in delivering improved customer experience. At the same time, we maintain a strong focus on modernising our data and network infrastructure, as well as enhancing our business-related offerings to meet current and future digital needs.

“Moving forward, as part of our transformative journey towards becoming a Digital Powerhouse by 2030, our priorities over the next few years include growing our core businesses, enhancing beyond connectivity by embedding Artificial Intelligence (AI) and capturing new business growth to meet future demands. In addition, we will continue to optimise costs and enhance profitability to ensure better returns for our shareholders,” Amar concluded.
 
The Group maintains a positive outlook for the current year, staying aligned with the previously provided 2024 guidance.


Lines of Businesses (LOBs) Performance
Unifi maintains leadership in converged services
Unifi maintained consistent year-on-year (YoY) growth with a 1.8% increase in fixed broadband subscribers, reaching a total of 3.135 million. This is driven by convergence marketing strategies, aggressive sales and customer retention programmes. It recently launched UniVerse, the best convergence plan to date for broadband, mobile, entertainment, and digital lifestyle solutions, designed to enhance connectivity, content and Home Hub needs of today’s customers. For more information about Unifi UniVerse, visit www.unifi.com.my. 

During the quarter, Unifi Business, the leading digital solutions partner of over 400,000 Micro, Small and Medium Enterprises (MSMEs) nationwide, partnered with Maybank Islamic Berhad to launch ‘Go Niaga’, a mobile banking bundle to help businesses manage finances and improve income with digital payment options. It also launched e-Pharmacy Solution, a mobile app enabling e-prescriptions via teleconsultation to provide digital inclusion and accessible healthcare for prescribed medications and wellness especially to the underserved communities.

Looking ahead, Unifi will continue to solidify its role as a leader in convergence to deliver unmatched converged digital services.

TM One drives innovative solutions for enterprise and Government
TM One, the enterprise and government sector business solutions arm of TM continues to adapt to market dynamics while seeking new opportunities for growth. During the quarter under review, it recorded a revenue of RM673.0 million.

In February, TM One launched the Innovation Lab and Enterprise 5G Lab to accelerate the realisation of emerging digital services and solutions. These labs bring together the latest technologies, digital leaders, inspiring ideas and collaborative spaces to create tailored solutions for its customers and partners. These facilities were set to further develop key areas like Enterprise 5G and innovative AI-powered industry solutions to help organisations thrive in the digital era. 

Moving forward, TM One will continue to strengthen its core connectivity offerings while driving innovation in digital services, expanding partnerships, and developing solutions that empower its customers.

TM Global positions Malaysia as a digital hub for the region
TM Global saw a 12.1% YoY increase in revenue to RM742.8 million in 1Q 2024, fuelled by demand for domestic and international data. It has remained as Malaysia’s preferred network infrastructure provider, catalysing the digital industry, fostering 5G ecosystem and expanding High-speed broadband (HSBB) Access in the country. Globally, it provisioned significant managed wavelength capacity for hyperscalers, connecting key regional data centres. It also recorded substantial growth in Content Delivery Network (CDN) traffic to cater to the demand from digital players, enabling Malaysia as a digital hub for the region.

TM Global recently received recognition in two categories: Telecom Company of the Year – Malaysia, and the Wholesale Company Initiative of the Year – Malaysia, at the Asian Telecom Awards held in Singapore. This is the second consecutive year TM Global has received these accolades, maintaining its leadership as a shaper of the telecommunications landscape in Malaysia and across ASEAN.

TM Global will continue to broaden its digital infrastructure solutions while forging strategic alliances with global carriers to facilitate seamless digital connectivity and services across borders.

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05 Nov 2020
TM R&D Continues its award winning streak at the World Communication Awards 2020

The Company’s internally-developed smarter digital solutions for IoT of Water and energy management received global recognitions for innovation. ​​​​​Telekom Research & Development Sdn Bhd (TM R&D), the innovation arm of Telekom Malaysia Berhad (TM), recently bagged two (2) awards at the prestigious World Communication Awards 2020 organised virtually in London, United Kingdom. ​ The awards, the fourth and fifth received by TM R&D this year, were conferred to TM R&D for its innovative solutions namely Smart Water Integrated Management System (SWIMS) under the IoT Innovation Award category while Enterprise Energy Management System (EENT) received the recognition under the Data Innovation Award category. Commenting on the milestone achievement, Dr. Sharlene Thiagarajah, Chief Executive Officer, TM R&D said, "This is indeed a proud moment for us at TM R&D. For our internally-developed smart solutions to be recognised at the World Communication Awards, it is indeed a huge encouragement for us to further strengthen our position as the leader in research, development and innovation field. This double win is a remarkable feat and my heartiest congratulations to everyone in the TM R&D team who has put tremendous efforts in providing the best for our customers and partners." "In addition, we will continue to innovate with purpose and introduce smarter digital solutions that will enhance and transform lives and businesses while simultaneously supporting TM's aspirations and unique role as the enabler of Digital Malaysia.," she added. In the global telecommunications industry, the World Communication Awards are the most revered mark of achievement. For over 22 years, the awards have recognised innovation excellence in global telecoms companies and attract hundreds of submissions annually. SWIMS is an Internet of Water (IoW) solution, essentially doing for water what Internet of Things (IoT) does for various other industries and verticals such as electric utilities, transportation, smart cities and factory automation. It enables in-depth, new insights into the operations and the right tools to act on those insights. "SWIMS offers end-to-end smart water management that improves non-revenue water management. It optimises the repair and replacement of ageing water infrastructure as well as improves responses to weather events such as water level and quality. The solution has now been commercially-deployed, bringing real innovation to the public," shared Dr. Sharlene. Another recognition received by TM R&D at the World Communication Awards was for EENT. It is a universal internet of energy management solution developed as an agnostic platform to cater for all types of IoT devices, system designs, geographical demand, multi-tenancy or budgeting, with its backend connected to an in-house IoT hosting platform. "EENT offers a seamless end-to-end smart energy monitoring system that improves energy management, optimises energy use as well as improves response to energy saving plan. It adopts big data architectures and analytics technologies, turning the data challenge into an opportunity and ultimately driving revenue, profit or cost reduction," she revealed. Established in 2001, TM R&D is the centre of innovation for TM Group focusing on innovations that enriches humanity and bring progress to nations. Growing from strength to strength since 2016, TM R&D has won 19 globally recognised awards and generated more than 2,800 Intellectual Property Rights (IPRs) and 1,400 digital assets to-date. TM R&D's innovations all developed in-house cut across multiple verticals such as Utilities, Retail, Agriculture, Healthcare and Education with safety and productivity as the top priority. As TM R&D continues to expand beyond connectivity and into smarter digital ecosystems, its role in TM has become more prominent and exciting. For more information about TM R&D and its products and services, they can be contacted at business@tmrnd.com.my or log on to www.tmrnd.com.my or follow them on LinkedIn (TM Research & Development) for more news and updates.

30 Sep 2021
YTM launches “Young Filmmaker 2021” for young, creative filmmakers with total cash prizes of RM25,000 to be won!

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