Maxis Berhad through its subsidiary Maxis Broadband Sdn. Bhd. has signed an Amendment Agreement (which includes an amended and restated HSBB Premium Service Agreement) with TM Technology Services Sdn. Bhd. to extend the existing agreement till 2029.
The extension agreement, Maxis said is to enable the telco to reach out to more premise passes for high-speed broadband across the country. Under the agreement, Maxis will be TMT’s premium customer for the HSBB Premium Service with enhanced features and functionalities from basic HSBB access services. The term of the Agreement will commence from signing of the Agreement until 30 June 2029 with an option to extend subject to terms and conditions to be negotiated and mutually agreed by the parties.
The new agreement also contains customary termination provisions including rights to terminate for breach of contract, a party’s insolvency or cessation of its telecommunications business. TMT will provide to Maxis the HSBB Premium Service for which Maxis will make payment based on agreed parameters as stipulated in the Agreement.
“We are pleased to extend and deepen our partnership with TM to further drive broadband adoption for the nation. The partnership in conjunction with our own extensive fibre network and core mobile business allows us to deploy our resources more efficiently and effectively so we are able to place greater focus on customer experience. This is in line with our integrated telco strategy of fulfilling all our customers’ connectivity needs,” said Goh Seow Eng, Chief Executive Officer of Maxis.
Maxis currently provides fibre connectivity to more than 700,000 homes and businesses. The collaboration traces back to 2010 when Maxis became the first telco provider to sign a HSBB access agreement with TM and the partnership has been on-going, culminating in this most recent extension.
The group said the agreement will not have any effect on the issued share capital and the shareholdings of its substantial shareholders, nor will it have any material effect on the earnings per share, net assets per share or gearing for the financial year ending 31 December 2023.
