Maxis Bhd CEO Gokhan Ogut
KUALA LUMPUR: Maxis Bhd
is back on track to achieve RM10bil service revenue by 2023 with growth strategies in place despite the decline of wholesale revenue from the termination of the network sharing agreement in its first quarter (1Q19) financial results ended March 31, 2019.
Maxis has terminated the network sharing and alliance agreement with U Mobile Sdn Bhd. The termination has been taking place in stages and would be completed by June 2019. The termination of the agreement has caused the drop in net profit in 1Q19 compared to 1Q18, said Maxis chief financial officer Wayne Treeby. The value of the contract is understood to be RM300mil to RM350mil.
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