Telekom to announce details of cheaper broadband in next quarter

The company expects 70% of its Streamyx customers to enjoy Unifi fibre broadband services by end-2020.

KUALA LUMPUR: Telekom Malaysia will announce details about its initiatives on  affordable broadband services at higher speed within the next quarter.

The telcommunications company said on Friday it had met the Ministry of Communications & Multimedia Malaysia and the Malaysian Communications & Multimedia Commission (MCMC).

The dialogue with the departments, it said, was to reiterate its support of the government’s aspiration regarding affordable broadband services at higher speed for the nation to increase its competitiveness.

On Wednesday, the new Federal Government announced that broadband prices would be slashed by 25% by year end.

However, the proposal battered Telekom's share price on Thursday, sending it down  49 sen to RM3.14 and wiped out 3.28 points from the FBM KLCI.