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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TM Congratulates National Sepak Takraw Team on Outstanding Performance at ASTAF Sepaktakraw Asian Cup 2025
KUALA LUMPUR, 19 May 2025 – Telekom Malaysia Berhad (“TM” or “the Group”), the Official Partner of the National Sepak Takraw Team, congratulates the team for their outstanding performance at the ASTAF Sepaktakraw Asian Cup 2025, held at the Titiwangsa Indoor Stadium, Kuala Lumpur. TM is proud to have supported the national team as they secured two out of four championship titles — in the Regu and Quadrant events. The tournament provided a meaningful platform in showcasing the talents of local athletes and the spirit of traditional Malaysian sports. Amar Huzaimi Md Deris, TM Group Chief Executive Officer said, “We are proud of our national team for their strong performance throughout the tournament — not only for their talent, but for the grit and unity they displayed, which are qualities we deeply value at TM. Their achievements in the Asian Cup tournament have strengthened our commitment to continue supporting the development of Malaysian sports as an integral part of our nation-building journey.” Dato’ Mohd Sumali Reduan, President of Persatuan Sepaktakraw Malaysia (PSM), added, “This tournament has been a meaningful step forward for Malaysian sepak takraw. Securing two championship titles on home ground is a testament to the hard work, discipline, and passion of our national athletes. On behalf of the national team and the sepak takraw community, we extend our heartfelt thanks to TM for their support and shared belief in our mission to nurture homegrown talent and elevating the traditional sports to the global arena.” TM extends its sincere appreciation to all fans and Malaysians for their unwavering support, which has been a powerful source of strength for the national team and the continued growth of sepak takraw. By aligning with a sport that symbolises agility, teamwork, and national pride, TM continues its legacy of uplifting Malaysian sports while fostering a spirit of unity and excellence. This collaboration not only strengthens TM’s role as a nation-builder but also reaffirms its commitment to touching lives and empowering communities through meaningful initiatives beyond technology.
TM announces appointment of new chairman; records highest appreciation to predecessor
Telekom Malaysia Berhad (TM) today announced the departure of Tan Sri Dato' Seri Mohd Bakke Salleh as Chairman of TM Board with effect on 31 July 2021 and the appointment of its new Chairman, Dato' Mohammed Azlan Hashim effective 1 August 2021. On behalf of TM Group, the Board of Directors, expressed their highest appreciation to Tan Sri Dato' Seri Mohd Bakke Salleh for his leadership and contribution to the TM Group during his tenure. "The entire Board, management and Warga TM would like to record our heartfelt gratitude to Tan Sri Dato' Seri Mohd Bakke, an exemplary role model in upholding governance and integrity and a highly respected corporate figure; who has brought his vast insights in industry and commercial to benefit the TM Group. Together with the Board, Group Chief Executive Officer (GCEO) and management, we have charted the next phase of growth for the company under the New TM Transformation 2021-2023, anchored on 40+ Value Programmes. This has already seen a strong start with quarterly growth across all lines of business and improved operations. Under his stewardship, TM has also continued to serve and support the nation throughout the Movement Control Order (MCO) period, ensuring Malaysians stay safe and connected at home and remain productive; whilst extending humanitarian aid to those in need during these challenging times." Tan Sri Dato' Seri Mohd Bakke was appointed as Chairman of TM Board in May 2020. Commenting on the new Chairman's appointment, the Board said, "We are happy to welcome Dato' Mohammed Azlan Hashim as the new Chairman of TM Board. He is a highly respected corporate figure with extensive experience in investment and financial services; most notably as a Board member of Khazanah Nasional Berhad (Khazanah) and the Employees' Provident Fund (EPF). He brings a wealth of industry and commercial insights, which will broaden and enrich the Board's overall expertise. We look forward to Dato' Azlan's guidance, counsel and leadership as the Company continues on its transformation journey and next phase of growth and value creation. As the enabler of Digital Malaysia, TM is committed to playing our part to support all our customer segments across homes, businesses, industry as well as the public sector with connectivity, digital infrastructure and solutions towards economic recovery." "We would like to wish Tan Sri Dato' Seri Mohd Bakke all the best in his future undertakings. On that note, we would also like to welcome Dato' Mohammed Azlan as the new Chairman of TM," concluded the Board. PROFILE OF DATO' MOHAMMED AZLAN HASHIM Dato' Mohammed Azlan Hashim is presently a Board member of Khazanah since 1 April 2020. He is also a Board member and the Investment Panel Chairman of the EPF. He is also currently the Chairman of several public listed entities including D&O Green Technologies Berhad, Marine & General Berhad and IHH Healthcare Berhad. He has extensive working experience in the corporate sectors including financial services and investments. Among others, he served as Chief Executive of Bumiputra Merchant Bankers Berhad, Managing Director of Amanah Capital Malaysia Berhad and Executive Chairman of Bursa Malaysia Berhad. He holds a Bachelor of Economics from Monash University, Melbourne and is a qualified Chartered Accountant. He is a Fellow Member of the Institute of Chartered Accountants, Australia, Institute of Chartered Secretaries and Administrators, and Member of the Malaysian Institute of Accountants.
unifi business campaigns for local small & medium enterprises with #BelanjaDiSME
In conjunction with World SME Day, TM’s retail convergence solutions arm calls for Malaysians to support growth of local SMEs & nation’s economic rebound Recognising the immense contribution of local Small and Medium Enterprises (SMEs) to the country's socioeconomic growth, unifi Business is marking SME Day 2022, which falls on 27 June, with a month-long campaign to help these local players get back on their feet post pandemic, while rallying all Malaysians to support their business growth. Using the hashtag #BelanjaDiSME, unifi Business alongside several renowned partners have lined up multiple activities such as a Social Media Challenge, the SMEs to SMEs talk shows, and a nationwide entrepreneurs roadshow to celebrate the significant role played by local SMEs in creating employment, promoting innovation and creativity, as well as contributing to the country's economic prosperity. #BelanjaDiSME (which means Spend with SME) was chosen to encourage Malaysians to buy products and services offered by local SMEs, boosting the profitability of these enterprises and contributing to their rebound, post pandemic. This campaign started off with a Social Media Challenge, where Malaysians are invited to upload a picture of any local SME of their choice on their personal social media space with a creative caption, tagged with the #BelanjaDiSME hashtag. Participants with the most creative picture and caption will be in the running to win attractive prizes such as a 3-day and 2-night stay at local holiday destinations, smart devices, shopping vouchers and many more. The challenge is now open right up until the end of June, and everyone can participate! Meanwhile, entrepreneurs seeking inspiration and ideas to grow their business can catch SMEs to SMEs talk show featuring stories of local SMEs on their digital transformation journey. This talk show can be watched live on unifi Business Facebook page as well as on Astro Awani. Tune in and listen to these successful entrepreneurs: Anna Teo - Hernan Corporation (largest and leading exporter of Malaysian durians) – 25 June on ASTRO AWANI at 10.30pm Joanne Goh - Jazzy Group (international film producer) – 27 June on Astro Awani at 9.00am Nadira Yusoff - Kiddocare (online babysitting platform) – 27 June on Sembang Bisnes unifi Business Facebook page at 3.00pm. 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The pandemic has undoubtedly impacted SMEs, forcing them to evolve into a more digital literate organisation in order to survive and thrive. unifi Business, as the preferred digital partner of SMEs, provides just the digital solutions they need to make this happen, which include: unifi eCommerce Hub: Designed to connect and maximise growth opportunities seamlessly, this solution offers a single and integrated platform, with an easy-to-use interface. Entrepreneurs can sync their offline and online sales channels, manage product inventories, orders, monitor sales and revenue, as well as manage social media enquiries. They can even build interactive websites with live chat and built-in online payment features. unifi Cloud Storage: To help businesses manage the often-tedious task of storing valuable information, this solution brings flexible, safe and scalable data storage. It also provides access for multiple users and secured encryption for better business productivity. Hosted locally at TM's Green Data Centre certified facilities, unifi Cloud Storage provides a secure home for important files and information so businesses can focus on growing and being profitable. unifi Business Club (uBC): All unifi Business customers will enjoy member benefits of the uBC, which include access to relevant and current content at its portal (https://ubc.unifi.com.my). Here, they can find insightful and inspiring content such as webinars, talk shows, live chats, events, business tips and articles to help them navigate the business world. uBC members will also enjoy access to financial assistance, productivity boosters, digital marketing platforms, tools and community engagement programmes that are tailored to a variety of business needs. For more info on unifi Business SME Day 2022 happenings, visit https://ubc.unifi.com.my/. Let's support and celebrate these local SMEs, together.
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