25 Feb 2025
TM Records Higher Profits in FY2024, Strengthening Future Growth Opportunities
FY2024 Key Highlights (vs FY2023)
- Operating Revenue recorded a positive trajectory, increasing 0.2% to RM11.71 billion
- EBIT strengthened by 11.3% from RM2.09 billion to RM2.33 billion
- PATAMI increased 7.8% from RM1.87 billion to RM2.02 billion
- Fixed broadband subscribers grew 1.5% to 3.179 million
- 2nd Interim Dividend of 12.5 Sen per Share and RM230.3 million Special Dividend
KUALA LUMPUR, 25 February 2025 – Telekom Malaysia Berhad (“TM” or “the Group”) today announced its financial results for the year ended 31 December 2024 (FY2024), reporting a positive revenue trajectory alongside strong Earnings Before Interest and Tax (EBIT) and Profit After Tax and Non-Controlling Interests (PATAMI) performance. These results underscore TM’s resilience in an increasingly dynamic and competitive market.
The Group’s operating revenue recorded a positive trajectory, increasing 0.2% year-on-year (YoY) to RM11.71 billion, while EBIT strengthened by 11.3%, from RM2.09 billion to RM2.33 billion. The EBIT performance exceeded the Group’s market guidance, driven primarily by higher yield products and services, lower operating costs from improved efficiency, and lower depreciation and amortisation costs. Meanwhile, PATAMI increased 7.8% from RM1.87 billion to RM2.02 billion contributed by improved operating profits, lower net finance costs, and utilisation of remaining one-off tax adjustments. The overall encouraging performance is supported by a robust balance sheet and healthy cash reserves, showcasing TM’s strong operational fundamentals and financial position.
TM continued to invest strategically in network infrastructure, international submarine cables and data centres in FY2024. Its total capital expenditure (CAPEX) amounted to RM1.59 billion, representing 13.6% of total revenue – well within its guidance range.
In line with its robust financial performance, the Group has declared a 2nd Interim Dividend of 12.5 Sen per Share and RM230.3 million Special Dividend. The Total Dividend for FY2024, including the Interim Dividend declared in August 2024 stands at 31 sen per share, reaffirming TM’s commitment towards value creation and sustainable returns for shareholders.
Amar Huzaimi Md Deris, TM Group Chief Executive Officer said, “TM’s performance in 2024 reflects our ability to navigate a highly competitive market, both domestically and internationally, while staying true to our core purpose of creating value for all stakeholders. This achievement demonstrates our execution capabilities and commitment to drive operational efficiencies, while advancing Malaysia’s digital agenda.
“For instance, our Unifi UniVerse, Malaysia's best convergence offering, continued to delight customers and drive steady growth in our fixed broadband subscriber base, solidifying our position as the nation’s convergence champion with the only quad-play services. Our success is further bolstered by strategic collaborations with government agencies and enterprises, accelerating digital transformation through solutions such as Smart Services, Sovereign Cloud, and Cybersecurity. In addition, we expanded our core digital infrastructure, including nationwide fibre network, broadband coverage, 5G mobile backhaul, data centres and submarine cables - all critical to foster digital inclusivity. This reinforces TM’s role as the digital catalyst connecting Malaysia to the world and the world to Malaysia.
“In essence, our core businesses remain resilient, sustaining positive revenue trajectory amidst heightened competitive pressure and market dynamics. At the same time, our internal efficiencies remain robust as evident in our strong EBIT and PATAMI, providing a solid foundation and strategic edge to propel TM forward. This has poised us to better capitalise emerging opportunities such as hyperconnected data centres, AI, and GPU-as-a-Service (GPUaaS) which are among the new growth areas for TM. These efforts will not only drive us closer to our aspiration of becoming a Digital Powerhouse by 2030 but also position Malaysia as the digital hub for ASEAN,” Amar concluded.
TM’s 2025 outlook is positive and underpinned by these priorities. The Group’s market guidance reflects confidence in sustained growth and operational excellence, reinforcing long-term value creation.
2025 Market Guidance:
| Revenue Growth | Low single digit increase |
| EBIT | Similar level to 2024 |
| CAPEX / Revenue | Between 14% - 16% |
Lines of Businesses (LOBs) Performance
B2C Strengthens Position as the Market Leader in Converged Services
Our B2C segment (Unifi) reinforced its position as Malaysia’s convergence champion, recording a 1.5% increase in fixed broadband subscribers to 3.179 million in FY2024. This growth reflects Unifi’s strong customer acquisition and retention strategy, driven by its UniVerse campaign. The mobile segment also continued to be fuelled by enhanced postpaid and prepaid offerings, including the 200GB 5G Monthly Data Pass for RM1 for UNI5G Postpaid 39 customers and UNI5G WOW Prepaid plan.
In addition, as the preferred digital partner for over 400,000 MSMEs nationwide, Unifi Business forged strategic collaborations with Maybank Islamic Bhd to deliver Banking-as-a-Service solution powered by 5G, and TNG Digital to accelerate MSMEs’ 5G adoption and eWallet services. Unifi was named Best Fixed Business Service Provider and Best Home Broadband Service Provider at PC.com 2024 Readers’ Choice Awards, and awarded Ookla's Fastest Wi-Fi Provider in Malaysia and Open Signal’s World's No.1 Fastest 5G Download Speed provider. For more information, visit https://unifi.com.my/all-in-one, https://unifi.com.my/tv/ and https://biz.unifi.com.my/
B2B Drives Digital Transformation for Enterprises and Government
Our B2B segment (TM One), the Group’s enterprise and Government sector business solutions arm, recorded a 0.7% increase in revenue YoY, reaching RM2.91 billion with improved contributions from beyond connectivity products and solutions.
Key initiatives include collaboration with the Government to develop and operate the nation’s new emergency response system, the Next Generation Emergency Services 999 (NG999) for more efficient and swifter emergency responses. TM One also launched the first AI-Enabled Global Business Services Centre on the East Coast to enable investment growth in the Eastern Economic Corridor. Recent industry collaborations driving digital transformation include expanding Private 5G rollout with PETRONAS, digitalising PR1MA’s housing projects, upgrading Perodua’s digital infrastructure, enhancing secure SD-WAN connectivity for KPJ hospitals, and strengthening Malaysia’s digital healthcare and wellness services with Siemens Healthineers. TM One was also recognised with multiple industry awards such as PIKOM Award: IT Services Digital Enabler 2024 and Cybersecurity Company of the Year 2024 award by Cyber Security Malaysia.
C2C Strengthens Malaysia’s Position as a Digital Hub for the Region
Our C2C segment (TM Global), TM’s wholesale business arm, sustained a steady revenue of RM3.06 billion, driven by data demand in both domestic and international segments. Domestically, it continued deploying mobile backhaul sites especially to support 5G and increasing high-speed broadband access, reinforcing digital inclusivity nationwide. Internationally, TM Global has significantly grown data services to enable seamless border-to-border and data centre-to-data centre connectivity, while securing substantial long-term capacity requirements from global carriers.
In addition, TM Global is broadening its data centre portfolio, including the development of a new hyperconnected, sustainable AI-ready data centre in Johor in partnership with Singtel’s Nxera, and expansion of the existing Klang Valley Data Centre (KVDC) and Iskandar Puteri Data Centre (IPDC). It also enhanced its core capabilities by introducing sovereign GPU-as-a-Service (GPUaaS) to support Malaysia’s AI aspirations. TM Global was awarded Best Operator in the Emerging Market category by Carrier Community Global Awards 2024 and Telecom Company of the Year – Malaysia and Wholesale Company Initiative of the Year – Malaysia, at AsianTelecom Awards.
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Statement on discontinuation of new registration for unifi LITE and Business Broadband
As we embrace the digital lifestyle, we can expect an increase in consumer demand for faster connectivity. To satisfy this need, Telekom Malaysia Berhad (TM) through unifi continues to drive digital connectivity through the accelerated expansion of fibre network nationwide. This is also in support of the Jalinan Digital Negara (JENDELA) action plan to deliver enhanced connectivity experience to all Malaysians. Towards this end, as well as in answering the Malaysian Communications and Multimedia Commission (MCMC)'s call for the provision of high-speed broadband services, unifi has discontinued new registrations for its copper-based broadband services, namely unifi Lite (Streamyx) and Business Broadband. We wish to inform that all our existing unifi Lite and Business Broadband customers will be migrated to the fibre-based unifi service in phases, expected to be completed by 2025. We will reach out to these customers via emails, letters, calls and SMSes, to ensure a seamless migration experience. Until then, all existing unifi Lite and Business Broadband customers will still enjoy their broadband service as is, with no disruption. Should these customers be interested to upgrade their subscription to any of the fibre-based unifi packages that provide more value for their money before the migration exercise, they can reach out to us via 100, Live Chat at unifi.com.my, the myunifi app, or just visit any nearest TMpoint.
TM wins again at Malaysia Technology Excellence Awards 2021 for its innovation, patrol
This is the fourth award received by TM at Malaysia Technology Excellence Awards in three years running Telekom Malaysia Berhad (TM) through its innovation arm, TM Research & Development (TM R&D) wins the AI – Telecommunications Award at the recent Malaysia Technology Excellence Awards 2021, presented by Singapore Business Review. The award was conferred in recognition of the Company's achievement in developing PATROL as a proof of function for research particularly on automatic detection of construction using vehicle dashcam and generate proactive alerts using artificial intelligence (AI) and machine learning algorithms. This is the fourth award received by TM R&D from the Malaysia Technology Excellence Awards in its three years of running. The awards ceremony lauds exceptional companies that have successfully pioneered IT products, solutions and innovative technology projects in their respective industries to boost Malaysia's fast-growing economy. Commenting on the accomplishment, Dr. Sharlene Thiagarajah, Chief Executive Officer, TM R&D said, "This is indeed a proud moment for us. Winning the award is a huge boost for our effort in showcasing how AI can be applied to solve real-life problems. It is also a huge encouragement for us to further strengthen our position as the leader in the research, development and innovation field. This award goes out to the team for delivering such outstanding work. We hope it will give them the drive to explore more innovations for TM to serve a more digital society, digital business, digital industry and digital Government, towards accelerating Digital Malaysia." Project PATROL was developed to provide early warning alerts on areas where TM infrastructure has a high risk of being destroyed due to civil and construction works by a third party. Ideally, before the civil or construction works were to begin, TM and other utility companies are to be consulted to ensure proper precautionary measures are taken to avoid telecommunication cable or other utility infrastructure cuts such as water or sewerage. The cable cuts will lead to loss of broadband and other telecommunication services which will cause major inconveniences to consumer lifestyle and businesses, as well as operation nightmare for any telcos. To fill in those gaps, PATROL was developed powered by digital and AI capabilities. PATROL leverages AI, object detection capabilities and the Internet of Things (IoT) to detect a construction area using a dashcam. The system then automatically checks if the unregistered civil and construction activity is in close proximity to underground or overhead cable infrastructure. Several parameters are used to assess risk before an alert is sent to the Network Operations Centre for investigation. "PATROL provides real-time alerts on civil and construction activities that pose a high risk to the security and safety of TM's cable infrastructure. This information allows telco providers to act fast in preventing possible threats to their assets. With PATROL, we foresee a huge opportunity for operational cost avoidance due to cable cut cases," she further added. Established in 2001, TM R&D is the innovation arm for TM Group focusing on creating smarter ecosystems to make business and life easier for a better Malaysia. TM R&D's solutions are clustered around four (4) pillars namely Intelligent Platforms, Data Brokerage, Connectivity/Tools and IR4.0/Digital Solutions. Growing from strength to strength since 2016, TM R&D has won multiple global awards and generated more than 2,800 Intellectual Property Rights (IPRs) and 1,400 digital assets to date. TM R&D's innovations are all developed in-house and cut across multiple verticals such as Utilities, Retail, Agriculture, Healthcare and Education with safety and productivity as the top priority. As TM R&D continues to expand beyond connectivity and into smarter digital ecosystems, its role in TM has become more prominent and exciting. For more information about TM R&D and its innovations, visit www.tmrnd.com.my or email your inquiry to business@tmrnd.com.my or follow them on LinkedIn (TM Research & Development) for more news and updates.
TM ONE REINFORCES COMMITMENT TO ENABLING MELAKA'S DIGITAL TRANSFORMATION ASPIRATIONS
KUALA LUMPUR & MELAKA, 30 DECEMBER 2024 – TM One, TM’s enterprise and government sector solutions arm, has reinforced its commitment to enabling Melaka’s digital and sustainable development through various collaborations with local agencies. Working with Majlis Perbandaran Alor Gajah (MPAG) and Syarikat Air Melaka Berhad (SAMB), TM One is deploying digital solutions to support the state’s economic growth, public services, and aspirations to become a model smart city. TM One also recently welcomed Datuk Seri Utama Ab Rauf Yusoh, Melaka’s Chief Minister, to the TM Response Centre Melaka, one of three facilities that supports emergency responses across Malaysia. The Centre is staffed by over 150 personnel who manage emergency response calls 24/7, ensuring quality control, technical support, and data management. Handling over a million calls every month, the Centre serves as a critical national infrastructure that connects citizens with emergency responders, reinforcing public safety and security. Shazurawati Abd Karim, TM One’s Executive Vice President, said “The Chief Minister’s visit to TM’s Response Centre and our strategic partnerships with MPAG and SAMB underscore TM One’s expanded role in Melaka’s digitalisation journey. These essential services contribute to the state’s aspirations to enhance public safety, operational resilience, and sustainable urban growth, and are significant steps toward realising Melaka’s vision of becoming a premier smart city. This is part of TM’s aspirations to become a Digital Powerhouse, leveraging our offerings to help government agencies improve the quality of life for Melaka’s citizens.” Enhancing Urban Management In partnership with MPAG, TM One has introduced the Local Urban Observatory (LUO) Smart Solution, a data-driven platform designed to elevate urban monitoring and decision-making in Alor Gajah. This five-year collaboration integrates real-time data analytics, predictive insights, and public service tracking capabilities, enabling MPAG to monitor critical urban metrics, and gain insights on infrastructure management, public services, and environmental sustainability. Shazurawati commented, “Our LUO Smart Solution with MPAG exemplifies how AI and data analytics can drive sustainable urban planning and operational efficiencies. This collaboration empowers Alor Gajah to enhance its public service responsiveness and create a more liveable environment, aligning with Melaka’s smart city development.” Transforming Water Management To modernise Melaka’s water management services, TM One was appointed by SAMB to provide Smart Workforce Solutions. Leveraging the Open Innovation Platform (OIP) and a range of digital tools including Workflow and Job Assignment Software, the solution enables efficient task allocation and tracking for improved metering, restoration, and contractor management. Customised workforce monitoring devices further provide real-time data capture and reporting from on-site locations, improving operational visibility and safety. Additionally, high-speed mobile connectivity supports communication and coordination, ensuring swift task completion and better service quality. Shazurawati concluded, “Our partnership with SAMB highlights the transformative power of technology in essential services, improving efficiency through swift, coordinated responses to critical tasks. By digitalising workforce operations, we are enabling SAMB to improve operational resilience and elevate service standards for the people of Melaka.”
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