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.
YOU MAY ALSO LIKE
TM expands its unifi service to more areas in Kuching
Residents of three (3) more villages in Kuching namely Kampung Boyan, Kampung Gersik and Kampung Surabaya can now enjoy high speed Internet connectivity with unifi. Telekom Malaysia Berhad (TM), through TM Sarawak, today expanded its unifi service to three (3) more villages in Kuching, Sarawak namely Kampung Boyan, Kampung Gersik and Kampung Surabaya (Kpg BGS). The service expansion has provided an opportunity for new and existing TM customers in the area to experience high-speed Internet connectivity delivered via fibre optic network. To mark the occasion, a special event titled “Juh Tukar Ke unifi @ Tebingan Sungai BGS” was held and launched by YB Datuk Dr. Haji Abdul Rahman Haji Junaidi, Minister in the Chief Minister’s Department (Islamic Affairs & Dewan Bandaraya Kuching Utara (DBKU)) and Assistant Minister of Utility (Water Supply). The launch was witnessed by Adiman Ajem, Director of Malaysian Communications and Multimedia Commission (MCMC) Sarawak and Sudarnoto Osman, Chief Executive Officer, Sarawak Digital Economy Corporation (SDEC). Also present at the event was Jafer Sadig Abdul Lathiff, State General Manager, TM Sarawak. Speaking at the event, YB Datuk Dr. Haji Abdul Rahman said: “We welcome the expansion of unifi to Kampung Boyan, Kampung Gersik and Kampung Surabaya as this signifies TM’s continuous effort to bring high speed broadband connectivity to more areas in Sarawak. This initiative is hoped to boost the growth of local industries such as Kek Lapis Sarawak and Ikan Terubuk Masin, thus promoting digital economy and adoption of a more digital lifestyle amongst the local communities. As Malaysia’s national telecommunications services provider, with its extensive network and expertise, I believe TM is more than capable to facilitate Sarawak’s digital transformation journey.” Meanwhile in his speech, Jafer Sadig said, “As the enabler of Digital Malaysia aspiration, we are excited to deliver our unifi service to Kpg BGS so the residents there can fully utilise the high speed connectivity to cater to their digital lifestyle. We will also continue to upgrade the network infrastructure to fibre optic beyond Kpg BGS in Kuching Division to fulfill the increasing demand for unifi. This has become more essential as the nation adapts to the new normal in which our activities including work, education, business and leisure have been digitalised. We hoped that the availability of unifi service to more areas will enable Sarawak citizens to reap the benefits of digital communications,” he said. “This expansion also reflects TM’s commitment and support towards the Government’s Jalinan Digital Negara (JENDELA) action plan to deliver connectivity to all. TM, as a responsible nation-builder, will continue to serve the nation and establish the ecosystem for a digital society, digital businesses and digital Government through our solid network infrastructure towards enabling Digital Malaysia,” he added. At the event, TM Sarawak also rewarded selected new unifi customers from its consumer segments as an appreciation for their trust and support for the brand. Besides that, a digital marketing workshop was held in collaboration with SDEC which saw the participation of 20 aspiring digital local entrepreneurs. YB Datuk Dr. Haji Abdul Rahman also went for a walkabout around Kpg BGS and engaged with the residents where he reiterated the need for the community members to play their part in safeguarding the newly deployed communication infrastructure for everyone’s benefit. New unifi Plans unifi is now available in better value packages to cater to the dynamic needs of all customers. Among available plan options are: unifi 30Mbps plan at RM89 per month: Offers unlimited data for you to get the best internet experience for your family at home. Comes with 16 free channels on playTV@unifi app downloadable on Apple App Store or Google Play Store. unifi 100Mbps plan at RM129 per month: For customers who need faster speed for their advanced digital lifestyle such as online entertainment, home surveillance, and e-sports among others Comes with unlimited data, free 600 minutes talk time to all mobile and fixed lines nationwide. Options to choose unifi TV’s Aneka Plus, Varnam Plus or Ruby Plus premium entertainment packages to be enjoyed via unifi playTV app for non-stop entertainment on-the-go. unifi Your World Campaign from as low as RM198 per month: Total Convergence Home Broadband package comprising internet, content and mobile with savings of up to RM200 per month for seamless internet experience at home. Comes with unifi TV’s Ultimate Pack bundled with unifi Plus Box and unifi Mobile 4G LTE with unlimited data, voice and SMS. Can be supplemented with unifi’s Mesh Wi-Fi to boost customers’ Wi-Fi experience at home by eliminating Wi-Fi dead spot for only RM15 per month. Exclusive for the 500Mbps and 800Mbps packages, unifi is giving out a FREE Deco M9 Plus Mesh Wi-Fi. unifi Mobile 99 Unlimited postpaid plan for only RM59 per month: Exclusive offer for unifi Home Broadband customers (Normal Price: RM99 per month): Offers unlimited data, calls and SMS, with no contract. Comes with 10GB LTE hotspot pass every month. Customers may keep their number and switch to unifi Mobile with zero upfront payment. unifi Mobile #BEBAS prepaid with options of RM10, RM13, RM15 or RM35: Comes with more data to stream, game, shop and browse. Customers can opt to buy add-ons if they need more data to enjoy their favourite apps and make more calls to chat all day. To find out more on unifi’s latest offerings, please visit https://unifi.com.my/
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 supports affected small businesses and communities through “Inisiatif Tolong Menolong”
Reaching out to more than 140 SME businesses and 14,000 families nationwide as part of the ongoing Malaysia Prihatin movement. Telekom Malaysia Berhad (TM) stays committed to its efforts in lending support and aid to affected Small and Medium Enterprise (SME) businesses and communities during this challenging period of COVID-19 pandemic. In view of the immense impact of this unprecedented period, Yayasan TM (YTM), TM's social impact-based foundation and also its Corporate Responsibility arm, embarked on a food bank programme called "Inisiatif Tolong Menolong", as part of the ongoing "Malaysia Prihatin" movement. The two (2) months programme is aimed at supporting local SME businesses such as grocery stores, sundry shops and restaurants as well as community groups in need including B40 families and the homeless, who are affected by the pandemic and enforcement of Movement Control Order (MCO). For this initiative, YTM works with TM's state offices nationwide to identify the local SMEs and provide the beneficiaries with basic necessities to alleviate their burden during this challenging time. Izlyn Ramli, Director of YTM shared: "We understand that the MCO is necessary to keep Malaysians safe during this pandemic, but it brought its own challenges to our livelihood. This is where YTM and TM Group continue to lend our helping hand wherever possible, embracing the spirit of "Malaysia Prihatin" and #kitajagakita. Apart from other ongoing initiatives to help the nation bounce back, we have embarked on this nationwide "Inisiatif Tolong Menolong" that adopts a two-pronged approach – providing basic necessities to those in need by purchasing the items from the local SME businesses in the vicinity. This will help the beneficiaries while at the same time assisting in the survival of the affected local SMEs. We hope this humble assistance can make life and business easier for them, and they have a chance to rebuild their lives together." "We are also very grateful for the great support and cooperation from the TM state offices and our various stakeholders on the ground who have worked tirelessly to make this initiative a success," Izlyn concluded. The initiative, kicked off on 20 August 2021 nationwide, is set to benefit more than 140 SME businesses, which were selected as collection points for the identified 14,000 families to get their basic food supplies in their respective areas. This programme is also part of the collective humanitarian efforts of the GLC/GLIC Disaster Response Network (GDRN), for which YTM is co-chair together with Khazanah Nasional Berhad's Yayasan Hasanah, under Ministry of Finance (MOF)-GDRN PERMAI Relief Fund 2021; a matching grant announced under Initiative 6 of Pakej Bantuan Perlindungan Ekonomi & Rakyat Malaysia (PERMAI) to provide immediate relief to those adversely impacted by the COVID-19 pandemic and natural disaster. Earlier this year, TM had disbursed RM1.5 million of the TM's MOF-GDRN PERMAI Relief Fund 2021 via 17 NGOs nationwide and benefited more than 10,000 families from various backgrounds. Also under this fund, working together with Persatuan OKU Sentral and GDRN partners, TM has recently contributed a month's supply of food for front-liners and volunteers working at a Drive-Through Vaccine Center (PPV) specifically for the special needs community, including their guardians and senior citizens in Johor Bahru. To date, the TM Group including YTM has extended close to RM20 million through various initiatives to ease the lives of affected communities, and in continuous support of Malaysia's nation-building and community welfare agenda in these challenging times. YTM joins all Malaysians in prayer for the safety and health of the nation, together may we return stronger.
NEWSLETTER
Just drop your details and stay updated with the world of Telekom Malaysia. We promise – no spam!