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:

KUALA LUMPUR, 28 January 2025 – Following the recent cable theft incident in Johor Bahru involving the group known as “Geng Boy” who were apprehended by the police, TM is fully cooperating with the authorities to facilitate their investigation. As the matter is still ongoing, we are unable to provide additional comments at this time.

Cable theft is a serious offense that endangers lives, disrupts essential services that Malaysians rely on daily, and impacts the community. Protecting our national infrastructure is vital, and we urge the public to remain vigilant and report any suspicious activities immediately by calling 999 or visiting the nearest police station.

TM is committed to ensuring the security and reliability of our nation’s digital infrastructure, and we will continue to collaborate closely with the authorities to prevent such incidents in the future. We thank the Polis Diraja Malaysia (PDRM) for their swift and effective action, as well as members of the public for their vigilance and support in addressing these crimes.

KUALA LUMPUR & MELAKA, 30 DECEMBER 2024 – TM One, TM’s enterprise and government sector solutions arm, has reinforced its commitment to enabling Melaka’s digital and sustainable development through various collaborations with local agencies. Working with Majlis Perbandaran Alor Gajah (MPAG) and Syarikat Air Melaka Berhad (SAMB), TM One is deploying digital solutions to support the state’s economic growth, public services, and aspirations to become a model smart city.

TM One also recently welcomed Datuk Seri Utama Ab Rauf Yusoh, Melaka’s Chief Minister, to the TM Response Centre Melaka, one of three facilities that supports emergency responses across Malaysia. The Centre is staffed by over 150 personnel who manage emergency response calls 24/7, ensuring quality control, technical support, and data management. Handling over a million calls every month, the Centre serves as a critical national infrastructure that connects citizens with emergency responders, reinforcing public safety and security.

Shazurawati Abd Karim, TM One’s Executive Vice President, said “The Chief Minister’s visit to TM’s Response Centre and our strategic partnerships with MPAG and SAMB underscore TM One’s expanded role in Melaka’s digitalisation journey. These essential services contribute to the state’s aspirations to enhance public safety, operational resilience, and sustainable urban growth, and are significant steps toward realising Melaka’s vision of becoming a premier smart city. This is part of TM’s aspirations to become a Digital Powerhouse, leveraging our offerings to help government agencies improve the quality of life for Melaka’s citizens.”

Enhancing Urban Management

In partnership with MPAG, TM One has introduced the Local Urban Observatory (LUO) Smart Solution, a data-driven platform designed to elevate urban monitoring and decision-making in Alor Gajah. This five-year collaboration integrates real-time data analytics, predictive insights, and public service tracking capabilities, enabling MPAG to monitor critical urban metrics, and gain insights on infrastructure management, public services, and environmental sustainability.

Shazurawati commented, “Our LUO Smart Solution with MPAG exemplifies how AI and data analytics can drive sustainable urban planning and operational efficiencies. This collaboration empowers Alor Gajah to enhance its public service responsiveness and create a more liveable environment, aligning with Melaka’s smart city development.”

Transforming Water Management

To modernise Melaka’s water management services, TM One was appointed by SAMB to provide Smart Workforce Solutions. Leveraging the Open Innovation Platform (OIP) and a range of digital tools including Workflow and Job Assignment Software, the solution enables efficient task allocation and tracking for improved metering, restoration, and contractor management. Customised workforce monitoring devices further provide real-time data capture

and reporting from on-site locations, improving operational visibility and safety. Additionally, high-speed mobile connectivity supports communication and coordination, ensuring swift task completion and better service quality.

Shazurawati concluded, “Our partnership with SAMB highlights the transformative power of technology in essential services, improving efficiency through swift, coordinated responses to critical tasks. By digitalising workforce operations, we are enabling SAMB to improve operational resilience and elevate service standards for the people of Melaka.”

KUALA LUMPUR & KUCHING, 26 DECEMBER 2024 – TM One, TM’s enterprise and government sector solutions arm, and Sarawak Digital Economy Corporation Berhad (SDEC) have announced the next phase in their strategic partnership to elevate Sarawak’s digital economy, digital society, and government services through enhanced connectivity.

The parties recently exchanged a master service agreement to expand Sarawak’s digital infrastructure, aimed at enhancing connectivity and accelerating the adoption of advanced technologies and smart services in driving the state’s digital transformation. The collaboration aligns with the Sarawak Digital Economy Strategy and Post-COVID Development Strategy 2030.

This collaboration includes TM One’s Metro-E solution, a flexible, secure, and high-performance bandwidth connectivity scalable to up to 10 Gbps. Its dedicated access for critical applications, proactive security monitoring and nationwide coverage addresses the service levels needed for enterprises and government agencies alike.

Shazurawati Abd Karim, TM One’s Executive Vice President, said, “We are pleased to partner with SDEC in advancing Sarawak’s digital transformation. The Metro-E project will bolster Sarawak’s digital economy, fostering innovation, improving access to digital services and bridging the digital divide across locations. High-speed connectivity at these 81 sites is essential for the adoption of advanced technologies, improving customer experiences and operational efficiency. This collaboration solidifies TM One’s commitment to Sarawak’s sustainable long-term growth and digital aspirations, aligning with the state’s 2030 strategies.”

The five-year project will also deliver high-speed internet connectivity to underserved and rural areas, supporting key sectors such as education, healthcare, and local businesses. This will facilitate cloud computing, telemedicine, online education, and a variety of other digital solutions, furthering Sarawak’s digital progress. The partnership reaffirms TM One and SDEC’s commitment to transform Sarawak, empowering local communities and businesses, as well as enhancing government services through digital technologies.

This collaboration is another milestone in TM’s commitment to enabling Malaysia’s digital transformation and to lead industry growth through digitalisation and sustainability, a pivotal part in TM’s efforts towards becoming a Digital Powerhouse by 2030.

KUALA LUMPUR, 23 DECEMBER 2024 – TM has announced a strategic partnership with Perodua to advance electric vehicle (EV) development, digital innovation, and sustainable growth, aligning with Malaysia’s vision to create a high-value, competitive automotive sector under the New Industrial Master Plan 2030 (NIMP 2030).

Formalised during a signing ceremony between Amar Huzaimi Md. Deris, TM’s Group Chief Executive Officer and Dato’ Sri Zainal Abidin Ahmad, Perodua’s President and Chief Executive Officer, the collaboration covers four strategic areas, namely: Hyperconnected Network, Advancing Digital Technology, Enriching Customer Experience, and Environmental Sustainability.

TM via TM One, its enterprise and government sector solutions arm, aims to upgrade Perodua’s infrastructure, providing fixed and wireless connectivity including SD-WAN solutions for dealer networks, private 5G for automotive applications, and smart manufacturing technologies to improve production. These will enhance Perodua’s operational capabilities, streamline data management, and support its future expansion. TM One will also leverage its Cloud, Cybersecurity, Data Analytics, and AI capabilities to provide initiatives for smart manufacturing, GPU as a Service, EV and autonomous driving technologies.

Additionally, TM and Perodua aim to expand their market reach and brand visibility through co-created products and innovative go to market strategies. This includes customised infotainment systems, smart mapping solutions, and joint marketing using digital tools to reach new customer segments. TM and Perodua are also committed to environmental sustainability, collaborating on clean energy solutions for EV charging infrastructure and waste reduction to align with Malaysia’s environmental goals. Additionally, through workforce training, R&D, and sustainable practices, the partnership will foster a culture of innovation to enable a digitally connected and environmentally responsible future in Malaysia's automotive sector.

Amar Huzaimi Md Deris said, “Our partnership with Perodua reflects our commitment to enabling digital transformation in the automotive industry, improving user experiences and long-term value. By delivering secure, high-speed connectivity and scalable digital solutions, this partnership will support Perodua’s mission for greater innovation and growth, paving the way for a connected, sustainable future in the automotive industry. This marks another milestone in TM’s aspirations to become a Digital Powerhouse, pioneering industry growth through digitalisation and opening new opportunities to propel organisations and our nation forward.”

Dato’ Sri Zainal Abidin stated that this collaboration highlights Perodua’s goal of modernising the automotive industry, enhancing operations and setting the standard for digital connectivity in the industry: “This collaboration covers several aspects that will benefit our customers as well as having spillover effects to the country’s digital and automotive industries. There are vast opportunities for Perodua and TM to revolutionise how we do things and set benchmarks on the quality, efficiency and delivery of our products and services. These opportunities will become clearer as we innovate further and address the issues and needs of our operations.

Typically, the issues we face often offer the way forward – the challenge is how to approach it in a way that results in a fundamental change that takes us forward.”

KUALA LUMPUR, 19 DECEMBER 2024 – TM has signed a Memorandum of Understanding (MoU) with PETRONAS through its digital arm PETRONAS Digital Sdn Bhd (PDSB), and clean energy arm Gentari Sdn Bhd (Gentari), to drive digital transformation and sustainable innovation for industries and the nation.

Under this collaboration, TM and PETRONAS will explore new revenue streams through the expansion of product offerings to enterprise and consumer markets, and drive growth and innovation through data centre, advanced cloud and connectivity for Malaysian businesses. The integration of Information and Communication Technology (ICT) and Internet of Things (IoT)-based solutions is expected to optimise city services, improve operational efficiency, and enhance public services, contributing to a smarter and more sustainable future.

The MoU was exchanged between Megawati Norhashim, Vice President, Enterprise Business, TM One; Ts. Shaharuddin Hamid Mustapha, Chief Executive Officer (CEO), PDSB; and Shah Yang Razalli, Deputy CEO & Chief Green Mobility Officer, Gentari; The exchange was witnessed by Shazurawati Abd Karim, Executive Vice President for TM One on behalf of TM; Ir. Mohd Yusri Mohamed Yusof, Senior Vice President, Project Delivery & Technology; and Izwan Ismail, Vice President of Group Technology & Commercialisation on behalf of PETRONAS and Gentari.

Shazurawati said, “We are pleased to partner with PETRONAS to drive digital and sustainable innovations that will empower growth, industry advancements, and Malaysia's technological capabilities. TM’s established nationwide infrastructure and diverse solutions, aligning with PETRONAS’ goals for energy transformation. By harnessing the power of 5G, cloud, AI, and IoT, we are laying the groundwork for a more efficient and resilient future. This reflects our shared vision for a digitally advanced and sustainable Malaysia, a pivotal commitment in TM’s efforts to become a Digital Powerhouse by 2030.”

Ir. Yusri noted, “Today marks a significant milestone in PETRONAS’ and TM’s collaboration, now further strengthened and poised for an even greater impact with Gentari on board. This MoU will foster the creation of valuable applications that harness the power of technology including clean technologies, which can serve as benchmarks for large-scale implementation across various industries. Anchored by PETRONAS’ commitment towards purposeful value creation and positive social impact, we are excited for the transformations ahead. Together, we aim to push the envelope of establishing a thriving digital ecosystem that is also environmentally sustainable."

The partnership between Gentari and TM further explores the integration of clean energy solutions through solar and EV charging in TM facilities.

Shah shared, “We are pleased to support this collaboration, which emphasises the role of clean energy in fostering Malaysia’s progress in digitalisation and sustainability. By integrating renewable energy and green mobility solutions into TM’s operations, we aim to contribute a sustainable pathway towards the nation’s energy transition. This collaboration underscores our shared effort to create a more sustainable digital ecosystem and supports Malaysia’s aspirations of achieving net zero emissions by 2050.”

TM, PETRONAS and Gentari will continue to set new standards in the industry by harnessing cutting-edge technologies and sustainable practices to create new milestones in Malaysia’s digital transformation.

KUALA LUMPUR, 17 December 2024 – TM confirms a recent cable theft incident involving our contractors and employees in Tanjung Bungah, Penang. We are fully cooperating with the authorities to facilitate their investigation. As the matter is still ongoing, we are unable to comment further at this time.

TM holds zero tolerance for any misconduct and will not hesitate to take firm and appropriate action based on the investigation findings, in line with our commitment to upholding the highest standards of integrity and accountability throughout the organisation.

Cable theft is a serious offense that endangers lives, disrupts essential services that Malaysians rely on daily, and impacts the community. We urge the public to remain vigilant and report any suspicious activities immediately by calling 999 or visiting the nearest police station.

TM is committed to ensuring the security and reliability of our nation’s digital infrastructure, and we will continue to collaborate closely with the authorities to prevent such incidents in the future. We thank Polis Diraja Malaysia (PDRM) for their commitment and swift action with respect to cable theft incidents.

KUALA LUMPUR, 16 December 2024 – TM announced at least RM4 million allocation, including cash assistance, to support immediate flood relief efforts for affected customers, communities, and employees nationwide. This is in support of the Sumbangan Ihsan MADANI initiative, aimed at ensuring timely support for those in need.

TM installed complimentary Wi-Fi services at various flood relief centres (PPS) to ensure uninterrupted communication for flood victims and PPS’ administration. At the same time, TM’s network restoration team is working tirelessly to restore services for customers impacted by the recent monsoon flood especially in the East Coast region. This involves efforts to immediately divert key network elements for infrastructure that have been destroyed by the flood to minimise service downtime for the Government, enterprises and consumers.

TM understands the challenges faced by the flood victims. Therefore, to ease their hardship, TM is committed to provide additional supports for the affected Unifi Home customers which include:

•                     Free replacement of damaged Customer Premise Equipment (CPE) and network components,

•                     A one (1) month subscription rebate for affected customers, and

•                     An extension of credit terms to 60 days without service suspension.

Through its social impact foundation, Yayasan TM (YTM) mobilised medical aid, food and other necessities with the support of its social impact partners. As Co-Secretariat and a member of the GLC/GLIC Disaster Response Network (GDRN) coalition, YTM assisted over 18,400 individuals via various initiatives including the MOF-GDRN Bantu Fund, to assist affected communities.

Amar Huzaimi Md Deris, Group Chief Executive Officer of TM, emphasised the company’s dedication during this time of need. “We stand in solidarity with our customers, communities, and employees during these challenging times. Beyond restoring connectivity, our focus is on providing meaningful assistance to those affected, ensuring they can rebuild their lives with greater resilience.

“We deeply appreciate the patience and understanding of our customers as we work to restore our networks, despite challenges due to power outages and damaged equipment in certain locations. Rest assured, our dedicated teams are fully committed to resolve these as swiftly as possible. To bolster our efforts, we have deployed the 56 Rejimen Semboyan Pakar Telekom Askar Wataniah, a team of TM volunteers, to provide on-ground assistance, deliver emergency services, and expedite restoration works.

“TM is grateful to serve alongside the Ministry of Communications, Malaysian Communications and Multimedia Commission (MCMC), National Disaster Management Agency (NADMA), Malaysia Civil Defence Force (APM) and GDRN members in supporting collective efforts to assist communities in need. We extend our heartfelt thanks to these agencies and social impact partners for their dedication and collaboration in ensuring timely and effective support.

“Through these partnerships, we supported more than 28,000 individuals via various disaster relief and preparedness programmes, ensuring faster distribution of aid across the country. We remain steadfast in our efforts to restore connectivity and essential telecommunications services and aiding recovery for those affected by the floods," concluded Amar.

Earlier last week, Amar visited flood-affected areas in Kelantan and Terengganu, including the Central Disaster Operations Control Centre (PKOB) in Kota Bharu. During his visit, he handed over additional care packages to be stored at the control centre. These care packages will be mobilised to affected areas and distributed to the flood victims as needed.

In support of its employees, TM launched an internal crowdfunding initiative to help provide affected Warga TM with essential home amenities, ensuring they could resume their daily lives as quickly as possible. This initiative aligns with TM's "Ini Cara Kita" culture statement, embodying the spirit of caring and togetherness. Additionally, TM extended financial aid to 131 Warga TM whose homes were damaged by the floods. Early flood aid and damage claims have already been disbursed, with further assistance underway.

The company urges everyone to prioritise safety during this challenging season and remains committed to restoring essential services and aiding long-term recovery.

KUALA LUMPUR, 16 December 2024 – TM via its enterprise and government sector digital solutions arm TM One, has announced a strategic partnership with PR1MA Corporation Malaysia (PR1MA) to drive high-speed internet infrastructure, digital services, and Internet of Things (IoT)-based solutions within PR1MA’s housing projects.

Over the next three years, TM One plans to establish a centralised monitoring system for PR1MA’s project tracking and workflows, improving operations and resource management, and enabling data-driven decision-making. Additionally, TM One’s IoT-based solutions for energy and environmental monitoring will help PR1MA lower operational costs and adopt sustainable best practices.

Shazurawati Abd Karim, Executive Vice President of TM One, stated, “We are pleased to collaborate with PR1MA to strengthen digital infrastructure and smart home services across their residential projects. This partnership supports the creation of connected and eco-friendly living spaces, aligning with PR1MA’s community-centric vision and Malaysia’s Smart City aspirations. By fostering future-ready ecosystems and sustainable urbanisation, we will jointly integrate digital innovation into affordable, high-quality housing. This initiative not only empowers digital communities and lifestyles; it represents another milestone in TM’s journey as a Digital Powerhouse to drive industry growth and new opportunities for organisations and the nation.”

Datuk Seri Haji Mohd Nazri bin Md. Shariff, Group Chief Executive Officer and Member of Corporation, PR1MA Corporation Malaysia, shared, “We are excited to work with TM in our mission to deliver high-quality, affordable homes to Malaysians. PR1MA remains dedicated to building modern, comfortable homes that elevate the standard of living for our residents. Our collaboration with TM will bring high-speed internet access to PR1MA communities, making it easier for residents to work, learn, and enjoy entertainment from the comfort of their homes. This partnership will also allow us to enhance our property management services through advanced digital technology.

“Through this partnership, PR1MA aims to integrate smart solutions from planning to construction, ensuring efficient project management. It will also enable our subsidiaries, PR1MA Communications Sdn Bhd and PR1MA Facilities Management Sdn Bhd, to provide sustainable connectivity and advanced technologies that enhance convenience, security, and quality of life for residents. These efforts will transform PR1MA’s developments into fully connected, smart communities,” Datuk Seri Haji Mohd Nazri concluded.