TM sets sights on even stronger growth this year

CEO Amar Huzaimi said TM is set to lead Malaysia into becoming a digital nation.

KUALA LUMPUR: Telekom Malaysia Bhd (TM) will continue its strong growth trajectory this year as it announced its aspiration to become a digital powerhouse by 2030 (PWR 2030).

Group chief executive officer Amar Huzaimi Md Deris said PWR 2030 will focus on three main areas, pioneering, winning and revitalising, as the telco accelerates this year.

He said the telco aims to continue to pioneer and lead industry growth and will look at digitalisation, sustainability as well as available opportunities and technologies.

“To win, we must maintain and protect our leadership and infrastructure to deliver unparalleled growth.

“The revitalisation element will be all about nurturing the people and talent within our ecosystem to continue building them up,” he said to reporters during the company’s financial year 2023 (FY23) results announcement yesterday.

Amar Huzaimi said, based on these goals, TM is set to lead Malaysia into becoming a digital nation while also positioning the country as a digital hub for the region.

He added that 2023 marked the completion of the group’s initial three-year transformation phase.

TM registered higher revenue of RM12.26bil for its the financial year ended Dec 31, 2023 (FY23) compared to RM12.11bil in FY22 on the back of a stronger performance from its Unifi and TM Global services.

Its net profit was also higher at RM1.87bil compared with RM1.14bil a year ago.

The Unifi fixed broadband subscriptions saw a 3.1% increase to 3.13 million, recording RM5.66bil in revenue, driven by strategic convergence campaigns and aggressive customer retention efforts.

He said moving forward, Unifi will further look to cement its role as a leader in convergence to deliver converged digital services.

Additionally, TM Global’s revenue grew on the back of heightened demand for domestic and international data services, recording solid 8.7% growth in revenue to RM3.1bil.

The company declared a final dividend of 15.5 sen per share, bringing total dividend payout to 25 sen per share for FY23.