Fitch affirms Telekom Malaysia at 'A' but Outlook negative

Fitch expects the expansion of TM's fibre business to continue on the back of low fibre penetration and rational competition. 

Rapid migration by consumers onto higher-speed broadband plans and the rising adoption of triple play services (which comprise voice, broadband and internet protocol TV services) should continue to drive an increase in average revenue per user (ARPU) from its fibre business.