Telekom Malaysia Berhad announces that its wholly owned subsidiary, GITN Sdn Berhad has accepted the Notification Letter of Implementation from the Government of Malaysia to extend the MyGovNet concession for another 10 years.
MyGovNet is the Government integrated telecommunication network that connects more than 10,000 Government premises in Malaysia and Malaysian Embassies overseas. This secured and dedicated Government network integrates with the intranet, internet, Government Campus Network and Public Sector Data Centre.
The project value of MyGovNet is at a cap of RM4,900,808,571.00 inclusive of 6% Sales and Service Tax. TM said further details and information will be announced upon the execution of the agreement between GITN and the GOM.
Whilst MyGovNet will contribute positively to the earnings and net assets of TM Group for the current financial year ending 31 December 2023 and over the concession period, the new concession is lower in value compared to previously with an impact on the earnings of TM Group over the concession period.
