TM Remains Optimistic Despite Drop In Revenue For 2020

National connectivity and digital infrastructure provider, Telekom Malaysia Bhd (TM) recorded a revenue of RM10.84 billion compared to RM11.43 billion in FY2019.

In the face of market challenges and the Covid-19 outbreak, TM’s performance improvement programmes continued to bear fruit.

With Earnings Before Interest and Tax (EBIT) and Profit After Tax and Non-Controlling Interests (PATAMI) growth recorded from the previous year which rose by 2.3 percent Year-on-Year (YoY) and 60.6 percent YoY, respectively.

“We are pleased to report a resilient overall business performance in 2020 as we navigated through the challenges of the outbreak and macroeconomic environment,” Managing Director and Group Chief Executive Officer (CEO), Imri Mokhtar said.

TM has invested 13.7 percent of revenue (RM1.49 billion)  in optimising and modernising its network as well as sweating the assets.

Of the amount spent, 53 percent was for network access, 22 percent for core network, and the balance 25 percent for support systems.

The spending has ensured TM’s network was able to effectively manage the network traffic that surged over the period of the Movement Control Order (MCO).

TM has declared a Final Interim Dividend of 7.5 sen per share with a total pay-out amounting to RM283.0 million for the financial year of 2020.

Additionally, TM is committed to sustainable growth, with increased emphasis on ESG, building on the strong track record as one of the 75 Bursa companies on the FTSE4Good Bursa Malaysia Index, with the full rating of 4/4.

“These uncertainties have required us to change the way we work, becoming more efficient in execution and being more prudent in managing resources,” Imri concluded.

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