2023 marks the completion of TM's three-year initial transformation phase, during which they further strengthen their position in the local and global telecommunications landscape. - Photo of Telekom Malaysia
February 24, 2024
KUALA LUMPUR: Telekom Malaysia Berhad (TM) recorded a net profit after tax of RM1.87 billion in the 2023 financial year, a 63.6 percent jump from RM1.14 billion in the previous year.
The communications group's revenue recorded an increase to RM12.26 billion last year compared to RM12.1 the previous year, driven by the strong performance of Unifi and TM Global in an environment of lower net finance costs and tax effects.
Unifi broadband subscriptions recorded a growth of 3.1 percent to 3.13 million, while TM Global's revenue increased due to high demand for domestic and international data services.
Capital Expenditure (CAPEX) was RM1.9 billion or 15.9 percent of the total revenue, which was specifically invested to expand the nationwide network infrastructure as well as the regional submarine cable system.
At the same time, TM also announced a second interim dividend and a final dividend of 15.5 sen per unit amounting to approximately RM594.9 million, showing its commitment in providing value to shareholders.
According to TM Group Chief Executive Officer, Amar Huzaimi Md Deris, TM has maintained its performance despite facing a challenging regulatory landscape, fierce competition, and evolving market dynamics.
"Our attractive convergence solutions and packages continue to captivate customers while strengthening TM's position as the only Mobile-Fixed Convergence with quad-play in Malaysia.
"The continuous expansion of optical coverage throughout the country as well as the improvement of data and network infrastructure, also contributed to the growth.
"We remain committed to promoting greater digital inclusion and adoption, in addition to addressing the needs of both domestic and international customers."
He also informed that the year 2023 marks the completion of three years of the initial transformation phase of TM, where they further strengthen their position in the local and global telecommunications landscape.
He said, now they are focusing on becoming a digital superpower by 2023 in addition to positioning Malaysia as a regional digital hub, in line with the country's aspirations to become a fully integrated digital community and ensure that the main role can continue to be played in the era of digital innovation.
