25 Feb 2025
TM Records Higher Profits in FY2024, Strengthening Future Growth Opportunities
FY2024 Key Highlights (vs FY2023)
- Operating Revenue recorded a positive trajectory, increasing 0.2% to RM11.71 billion
- EBIT strengthened by 11.3% from RM2.09 billion to RM2.33 billion
- PATAMI increased 7.8% from RM1.87 billion to RM2.02 billion
- Fixed broadband subscribers grew 1.5% to 3.179 million
- 2nd Interim Dividend of 12.5 Sen per Share and RM230.3 million Special Dividend
KUALA LUMPUR, 25 February 2025 – Telekom Malaysia Berhad (“TM” or “the Group”) today announced its financial results for the year ended 31 December 2024 (FY2024), reporting a positive revenue trajectory alongside strong Earnings Before Interest and Tax (EBIT) and Profit After Tax and Non-Controlling Interests (PATAMI) performance. These results underscore TM’s resilience in an increasingly dynamic and competitive market.
The Group’s operating revenue recorded a positive trajectory, increasing 0.2% year-on-year (YoY) to RM11.71 billion, while EBIT strengthened by 11.3%, from RM2.09 billion to RM2.33 billion. The EBIT performance exceeded the Group’s market guidance, driven primarily by higher yield products and services, lower operating costs from improved efficiency, and lower depreciation and amortisation costs. Meanwhile, PATAMI increased 7.8% from RM1.87 billion to RM2.02 billion contributed by improved operating profits, lower net finance costs, and utilisation of remaining one-off tax adjustments. The overall encouraging performance is supported by a robust balance sheet and healthy cash reserves, showcasing TM’s strong operational fundamentals and financial position.
TM continued to invest strategically in network infrastructure, international submarine cables and data centres in FY2024. Its total capital expenditure (CAPEX) amounted to RM1.59 billion, representing 13.6% of total revenue – well within its guidance range.
In line with its robust financial performance, the Group has declared a 2nd Interim Dividend of 12.5 Sen per Share and RM230.3 million Special Dividend. The Total Dividend for FY2024, including the Interim Dividend declared in August 2024 stands at 31 sen per share, reaffirming TM’s commitment towards value creation and sustainable returns for shareholders.
Amar Huzaimi Md Deris, TM Group Chief Executive Officer said, “TM’s performance in 2024 reflects our ability to navigate a highly competitive market, both domestically and internationally, while staying true to our core purpose of creating value for all stakeholders. This achievement demonstrates our execution capabilities and commitment to drive operational efficiencies, while advancing Malaysia’s digital agenda.
“For instance, our Unifi UniVerse, Malaysia's best convergence offering, continued to delight customers and drive steady growth in our fixed broadband subscriber base, solidifying our position as the nation’s convergence champion with the only quad-play services. Our success is further bolstered by strategic collaborations with government agencies and enterprises, accelerating digital transformation through solutions such as Smart Services, Sovereign Cloud, and Cybersecurity. In addition, we expanded our core digital infrastructure, including nationwide fibre network, broadband coverage, 5G mobile backhaul, data centres and submarine cables - all critical to foster digital inclusivity. This reinforces TM’s role as the digital catalyst connecting Malaysia to the world and the world to Malaysia.
“In essence, our core businesses remain resilient, sustaining positive revenue trajectory amidst heightened competitive pressure and market dynamics. At the same time, our internal efficiencies remain robust as evident in our strong EBIT and PATAMI, providing a solid foundation and strategic edge to propel TM forward. This has poised us to better capitalise emerging opportunities such as hyperconnected data centres, AI, and GPU-as-a-Service (GPUaaS) which are among the new growth areas for TM. These efforts will not only drive us closer to our aspiration of becoming a Digital Powerhouse by 2030 but also position Malaysia as the digital hub for ASEAN,” Amar concluded.
TM’s 2025 outlook is positive and underpinned by these priorities. The Group’s market guidance reflects confidence in sustained growth and operational excellence, reinforcing long-term value creation.
2025 Market Guidance:
| Revenue Growth | Low single digit increase |
| EBIT | Similar level to 2024 |
| CAPEX / Revenue | Between 14% - 16% |
Lines of Businesses (LOBs) Performance
B2C Strengthens Position as the Market Leader in Converged Services
Our B2C segment (Unifi) reinforced its position as Malaysia’s convergence champion, recording a 1.5% increase in fixed broadband subscribers to 3.179 million in FY2024. This growth reflects Unifi’s strong customer acquisition and retention strategy, driven by its UniVerse campaign. The mobile segment also continued to be fuelled by enhanced postpaid and prepaid offerings, including the 200GB 5G Monthly Data Pass for RM1 for UNI5G Postpaid 39 customers and UNI5G WOW Prepaid plan.
In addition, as the preferred digital partner for over 400,000 MSMEs nationwide, Unifi Business forged strategic collaborations with Maybank Islamic Bhd to deliver Banking-as-a-Service solution powered by 5G, and TNG Digital to accelerate MSMEs’ 5G adoption and eWallet services. Unifi was named Best Fixed Business Service Provider and Best Home Broadband Service Provider at PC.com 2024 Readers’ Choice Awards, and awarded Ookla's Fastest Wi-Fi Provider in Malaysia and Open Signal’s World's No.1 Fastest 5G Download Speed provider. For more information, visit https://unifi.com.my/all-in-one, https://unifi.com.my/tv/ and https://biz.unifi.com.my/
B2B Drives Digital Transformation for Enterprises and Government
Our B2B segment (TM One), the Group’s enterprise and Government sector business solutions arm, recorded a 0.7% increase in revenue YoY, reaching RM2.91 billion with improved contributions from beyond connectivity products and solutions.
Key initiatives include collaboration with the Government to develop and operate the nation’s new emergency response system, the Next Generation Emergency Services 999 (NG999) for more efficient and swifter emergency responses. TM One also launched the first AI-Enabled Global Business Services Centre on the East Coast to enable investment growth in the Eastern Economic Corridor. Recent industry collaborations driving digital transformation include expanding Private 5G rollout with PETRONAS, digitalising PR1MA’s housing projects, upgrading Perodua’s digital infrastructure, enhancing secure SD-WAN connectivity for KPJ hospitals, and strengthening Malaysia’s digital healthcare and wellness services with Siemens Healthineers. TM One was also recognised with multiple industry awards such as PIKOM Award: IT Services Digital Enabler 2024 and Cybersecurity Company of the Year 2024 award by Cyber Security Malaysia.
C2C Strengthens Malaysia’s Position as a Digital Hub for the Region
Our C2C segment (TM Global), TM’s wholesale business arm, sustained a steady revenue of RM3.06 billion, driven by data demand in both domestic and international segments. Domestically, it continued deploying mobile backhaul sites especially to support 5G and increasing high-speed broadband access, reinforcing digital inclusivity nationwide. Internationally, TM Global has significantly grown data services to enable seamless border-to-border and data centre-to-data centre connectivity, while securing substantial long-term capacity requirements from global carriers.
In addition, TM Global is broadening its data centre portfolio, including the development of a new hyperconnected, sustainable AI-ready data centre in Johor in partnership with Singtel’s Nxera, and expansion of the existing Klang Valley Data Centre (KVDC) and Iskandar Puteri Data Centre (IPDC). It also enhanced its core capabilities by introducing sovereign GPU-as-a-Service (GPUaaS) to support Malaysia’s AI aspirations. TM Global was awarded Best Operator in the Emerging Market category by Carrier Community Global Awards 2024 and Telecom Company of the Year – Malaysia and Wholesale Company Initiative of the Year – Malaysia, at AsianTelecom Awards.
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UNIFI MOBILE OFFERS 200GB 5G DATA FOR RM1 A MONTH
KUALA LUMPUR, 1 AUGUST 2024 – Unifi Mobile is excited to announce an incredible new offer for its UNI5G Postpaid 39 subscribers: a limited-time promotion of 200GB 5G Monthly Data Pass for just RM1. This fantastic add-on gives users an extra 200GB of high-speed 5G data every month, enhancing their mobile experience significantly. With this new add-on, UNI5G Postpaid 39 customers can enjoy an additional 200GB of 5G data every month, on top of their existing 30GB 5G & 4G data and unlimited calls. This means more freedom to stream, browse, and stay connected without interruption, catering perfectly to the needs of today's digital-savvy users. Both new and existing Unifi Mobile customers can subscribe to this offer via the Unifi Mobile app, which will auto-renew each month to ensure continuous data access. Jasmine Lee, Unifi’s Chief Commercial Officer, Consumer, said, "We're thrilled to introduce the 200GB 5G Monthly Data Pass to enhance our customers' mobile experience at an unbeatable value. Recognising the rising living costs, this plan is designed to meet the needs of first-time postpaid users and young professionals who depend heavily on mobile connectivity for home, work, and play, allowing them to fully utilise 5G capabilities in their daily lives.” This amazing offer enables customers to stream content seamlessly, download large files quickly, and stay connected with friends and family while enjoying worry-free, substantial data allowance. For just RM1 per month, this 200GB 5G Monthly Data Pass offers incredible value, allowing users to maximise their mobile data usage without a hefty price tag. Jasmine added, “Adding to our value proposition for customers, we are launching Sembang Seringgit sessions on our social media platforms. These sessions will feature key opinion leaders discussing work-life balance and budgeting tips. Additionally, our on-ground Seringgit Challenge will see the Unifi Mobile truck visiting various communities, offering fun activities and special prizes.” “This new offer is part of our commitment to provide innovative solutions at great value, meeting our customers' evolving digital needs, and ensuring wider 5G access for more Malaysians. It also supports our goal of becoming a Digital Powerhouse by 2030, enabling a more digital Malaysia,” Jasmine concluded. For more information, visit https://unifi.com.my/mobile/postpaid
TM receives national recognitions for its continous efforts in Energy Management
The Company walked away with four (4) recognitions at the recent National Energy Awards 2020, organised by the Ministry of Energy and Natural Resources (KeTSA). Telekom Malaysia Berhad (TM) was recently bestowed with multiple recognitions for its continuous commitment and best practices in energy management at the National Energy Awards 2020, organised by the Ministry of Energy and Natural Resources (KeTSA). The accolades received by TM were: Rank Category Sub-category Building Winner Category I: Energy Efficiency Energy Management (Small Building) TM Node, Skudai, Johor Bahru Runner-up Category I: Energy Efficiency Energy Management (Large Building) Menara TM, Kuala Lumpur Special Awards Institute of Higher Education Multimedia University, Melaka Special Awards Energy Performance Contracting (EPC) TM Node, Bandar Tun Razak Commenting on the achievements, Badrul Hisham Ahmad, Vice President, Support Business, TM said: "We are humbled and honoured to receive these awards and would like to thank KeTSA for recognising our continued commitment to Energy Efficiency (EE) initiatives, which is part of our overall sustainability agenda. Such initiatives not only provide cost optimisation and increased efficiency, but also contribute towards environment conservation. We understand that while we are advancing towards an increasingly digital economy and lifestyle, ensuring the sustainability of our environment is equally important for future generations. In addition to economic development, TM's role in empowering a Digital Malaysia is also driven by our potential to play our part to combat climate change. Although the ICT sector contributes 2% of global carbon emissions, increasing connectivity offsets the emissions. By providing digital solutions, we enable other sectors of the economy to grow while reducing energy use, travel and greenhouse gas (GHG) emissions. Therefore, the transition towards a digital economy helps achieve global carbon-reduction targets." "As we work to increase connectivity and digital, the necessary network and infrastructure expansion brings upon risks of environmental harm. As a responsible business, TM is implementing strict policies and innovative solutions that reduce the carbon emissions resulting from its operations and infrastructure development. A key way to reducing TM's carbon emissions is by lowering our overall energy consumption. As such, our facilities are supported by Energy Saving Initiatives (ESI), which describes how we can improve energy-efficiency at network and non-network buildings. We also adopt sustainable practices for emissions management that adhere to regulatory standards. We conduct regular monitoring of the air, noise and water of areas surrounding our operations. We strive to consistently comply with the environmental monitoring limits stipulated by the Department of Environment (DoE) thus ensuring that our business does not harm nearby environment and communities. We have been continuously improving on our emissions and consumption policies, objectives, targets and strategies. Additionally, we monitor and measure activities that contribute to our carbon footprint, including energy use and waste production, resulting in a 7.5% reduction in overall GHG emissions for 2019. We also recorded a 7.4% reduction in energy consumption," Badrul elaborated. The annual National Energy Awards (NEA) highlights the development of ideas and best practices in driving the country's sustainable energy sector. The award recognises the efforts of the public and private sectors in energy innovation that manifests positive impact to the nation and all Malaysians. It acknowledges the adopters of energy efficiency technology and renewable energy in driving towards Malaysia's sustainable development aspirations. It is also the Government's strategic move to promote innovation in local technology, research and development (R&D) as well as to create awareness on a broad level across the different facets of society, in line with the country's aspiration to spur energy sector as the new area for economic growth. Previously in 2019, the National Energy Awards also honoured TM for the first time as the winner for Category I: Energy Efficiency under sub-category of Energy Management (Small & Medium Building). The award recognised energy saving initiatives at Menara TM, Melaka which include upgrading of conventional lighting to LED, chillers optimisation, reuse of ablution water for watering plant and installation of motion sensor lighting, among others. For more info on TM's efforts towards sustainability, visit www.tm.com.my/sustainability.
Unifi TV kickstarts 2023 offerings with addition of popular beIN SPORTS 2, Moonbug Kids and one premium channels
Unifi, a leader in converged home, mobile and lifestyle services via its digital content arm, Unifi TV, today announced three new premium channels via partnerships with leading content providers – beIN Asia Pacific; Moonbug Entertainment, a subsidiary of Candle Media; and Korea’s KC Global Media. Starting February 2023, viewers will be able to enjoy these popular channels via their Unifi TV subscriptions: beIN SPORTS 2 – featuring top-tier European football, international tennis competitions and most recently, full Formula 1 coverage; Moonbug Kids – designed for families with pre-school children; and ONE – for fans of the latest Korean drama and entertainment. Two of the three new channels, Moonbug Kids and ONE will also be available for free preview throughout the whole of February for both existing and new Unifi TV subscribers. This brings Unifi TV’s channel offerings to a whopping 71 premium channels, along with 17 app partners including Disney+ Hotstar, Viu, WeTV and Lionsgate Play – the largest selection of streaming apps over a single platform. Ho Hock Doong, Head of Content, Unifi TV said, “We are excited to partner beIN Asia Pacific, Moonbug Entertainment, and KC Global Media in bringing their popular channels to Unifi TV and to provide more quality offerings to our local audiences. “At the end of 2022, Digital Market Insights projected that Malaysia’s Home Entertainment revenue was expected to reach an annual growth rate (CAGR 2022-2027) of 8.36%, with a projected market volume of US$48.57 million and 1.1 million active users by 2027. “With these prospects in mind, we are strengthening our partnerships with leading global content providers to offer an inclusive selection of digital entertainment solutions – bringing Unifi’s ‘all-in-one’ value proposition to all audiences,” he added. beIN SPORTS 2 will join the line-up of three existing beIN SPORTS channels as well as the beIN SPORTS CONNECT app already available on Unifi TV, offering the widest live sports coverage from beIN SPORTS in Malaysia. In addition to the Formula 1 broadcast rights which will be extended to Unifi TV viewers, the channel will also include the Australian Open, ATP and the upcoming Roland-Garros. Mike Kerr, Managing Director, beIN Asia Pacific, said, “As we continue to expand and strengthen our sports offering, we are excited to enter into the next phase of partnership with Unifi TV. Now with Formula 1, fans can immerse themselves in more live coverage than ever before on beIN SPORTS. We look forward to working alongside Unifi TV to grow our audiences in Malaysia.” Putting families in the forefront, Moonbug Kids on Unifi TV will feature all of Moonbug’s IPs including CoComelon, Blippi, Gecko’s Garage, Morphle, Arpo, Little Baby Bum and recent acquisitions Little Angel and Oddbods – offering wholesome and quality entertainment for preschool and early-years viewers. Unifi TV is also the first digital content platform in Malaysia to offer selected Moonbug Kids programmes on demand that are localised in Bahasa Melayu and Mandarin – bringing these edutainment programmes to more of Malaysia’s multi-lingual audiences. “We are extremely excited to launch our Moonbug Kids channel on Unifi TV via their on-air and online platforms. We have had a strong start to 2023 in maintaining our strategy of rolling out our content and channels across APAC and EMEA and are now very much looking forward to sharing our beloved characters and stories with families across Malaysia,” said Nicolas Eglau, Managing Director EMEA & APAC, Moonbug Entertainment. Leading K-entertainment channel, ONE, on the other hand, will bring the best of Korean entertainment to Malaysia. The channel will feature drama series Kokdu: Season of Deity within 24 hours of release in Korea and a line-up of romantic specials in February such as Weightlifting Fairy Kim Bok Joo and Backstreet Rookie. Fans of travel variety shows will also be treated to Dopojarak: Story of Homme the K-Wanderer, featuring personalities from K-pop, K-drama, fashion and sports. George Chien, Co-Founder, President, and CEO of KC Global Media shared, “We are excited to enhance our partnership with Unifi TV to bring the best entertainment from around the world to every household and mobile device in Malaysia! With the addition of ONE channel on Unifi TV, fans can look forward to an endless stream of freshly curated programming direct from South Korea’s biggest broadcasters and studios.” “These channels are quality additions to our platform and will strengthen our lifestyle offerings as part of Unifi’s Converged solutions for broadband, mobile and digital content. Our aim is to provide seamless customer experiences via extensive and affordable services that meet today’s digital demands, including online entertainment both at home and on-the-go,” Ho shared. “As we kick off 2023, we aim to continue expanding our digital content, providing more customisable, value-for-money selections together with Unifi’s other converged solutions to bring something for everyone,” he concluded.
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