TM, TNB ink pact on nationwide fiberisation plan

PETALING JAYA: Telekom Malaysia Bhd (TM) and Tenaga Nasional Bhd (TNB) have entered into a memorandum of understanding (MoU) to jointly develop an implementation plan to deliver on the government’s nationwide fiberisation plan (NFP).

A definitive agreement will be signed between the parties upon finalisation of the commercial terms.

TM and TNB said in a joint statement that the collaboration will capitalise on the combined strength of both government-linked companies (GLCs) in terms of reach, infrastructure and expertise.

“In particular, the synergies will enable the most efficient cost structure, and further accelerate the fibre broadband network reach. This is in line with the government’s aspirations to drive Malaysia’s digital economy, as envisioned under both the NFP as well as the High Speed Broadband (HSBB) projects.”

The companies added that the roll-out under TM and TNB, as two of Malaysia’s leading institutions, ensures the safety and security of the nation’s strategic and critical infrastructure.

“The proposed network will also continue the existing open access participation of industry players to promote private sector competition in retail broadband.”

The MoU was signed by TM managing director and CEO Datuk Seri Mohammed Shazalli Ramly and TNB president and CEO Datuk Seri Ir. Azman Mohd. At today’s market close, TM’s share price rose 5 sen or 0.84% to RM6, while TNB gained 6 sen or 0.4% to RM15.88.