TM posts RM339 mil net profit in 1Q22

by AZREEN HANI/ FILE PIX

Telekom Malaysia Berhad (TM) sees its earnings increased by 4.4 percent to RM339.845 million n the first quarter of 2022 (1q22) from RM325.465 million recorded a year ago.

TM MD and CEO Imri Mokhtar said that the group has recorded steady revenue growth at RM2.89 billion, an increase of 2.9% from this same period last year, despite heightened competition.

““In 2022, we aim to continue growing our operating revenue by strengthening our core business momentum to improve profitability, enabling us to invest for future growth,” he said in an exchange filing after the groups’ 37th AGM today.

We also ramped up our transformation initiatives and delivered profit after tax and non-controlling interests (PATAMI) at RM339.9 million, or 4.4% higher. We will continue to optimise cost and improve productivity in our effort to raise EBIT to more than RM1.8 billion,” Imri explained.

“We are intensifying our efforts in the remaining seven months to deliver the next chapter of our Transformation. We will look at a total CAPEX spend between 14-18 per cent of revenue, with spending primarily focused on network expansion and modernisation together with enhancing customer experience,” he added.

According to the company, unifi will continue to maintain its leadership in fixed broadband and enhance its Fixed-Mobile Convergence (FMC) proposition, enriched with TV and streaming content. 

TM Wholesale will continue to enable industry broadband and 4G network via its fibre infrastructure, with the ongoing 5G rollout further strengthening that role, said TM.

The telecommunication firm has also invested in strengthening its digital services through Credence, a new arm that will focus on expanding the capabilities of enterprises in their digital transformation journey.

Helmed by senior leaders from the technology sector, this new business will serve existing TM customers as an end-to-end Cloud and Services solution partner, offering services from tech infrastructure to business insights, IT landscape migration, SaaS, managed services as well as analytics.

“Our aspiration is to evolve towards becoming a human-centred technology company. The next step is to evolve from delivering converged  connectivity into a human-centred technology company – delivering lifestyle and business solutions for our customers with innovative digital technology and applications.

“In a market where telcos and other digital players now have a play in almost every solution, customer experience will be the true differentiator in attracting and retaining customers,” he said.