Telekom Malaysia which had on 7 October 2022 announced in respect of the SSA to subscribe to a 20% equity stake in DNB has today stated that it had terminated the said agreement.
This comes with the latest decision by the Malaysian government on the change of in the country’s 5G rollout model that will now include a second entity apart from Digital Nasional Berhad come 2024.
In a filing to Bursa, TM said since the longstop date to fulfill all CPs under the SSA has lapsed the group consequently, under the terms of the SSA, had today (10 May) issued a termination notice to DNB to be effective immediately.
It added the termination of the SSA is not expected to have any significant effect on the earnings, net assets, and gearing of TM Group for the financial year ending 31 December 2023. However, customers need not worry as they will continue to enjoy 5G services and solutions, as the 5G Wholesale Access Agreement with DNB remains intact.
TM said it looks forward to the next process and discussion with the Government and the industry on 5G participation across Phase 1 (towards 80% service coverage by DNB) and Phase 2 (shift to two networks), as announced by the Government on 3 May 2023. The group said it is committed to continue playing an active role in the 5G implementation, leveraging its nationwide fibre infrastructure, extensive digital platforms (data centre, edge nodes), and rollout experience.
In the meantime, TM customers of Unifi Mobile and TM One will continue to enjoy 5G services and solutions, as the 5G wholesale Access Agreement remains in place.
