TM slips into the red, first quarterly loss in 10 years

Bazlan (left) and Imri right. Filepic KAMARUL ARIFFIN/The Star

PETALING JAYA: After wading through competitive pressures in recent months, Telekom Malaysia Bhd (TM) slipped into its first quarterly loss in 10 years due to huge impairments on its wireless and fixed network assets.

The national telecommunications giant took more than RM1bil in impairments, which resulted in a net loss of RM175.6mil for the third quarter ended Sept 30. This compared with a net profit of RM211.9mil that the group registered in the corresponding period last year.