Telekom Malaysia supports affordable broadband prices, details to be announced in Q3

KUALA LUMPUR: Telekom Malaysia Bhd (TM) has reiterated its support of the government's aspiration regarding affordable broadband services at higher speed for the nation to increase its competitiveness.

"TM has had several engagements in an ongoing dialogue with the Ministry of Communications & Multimedia Malaysia and the Malaysian Communications & Multimedia Commission (MCMC). Further details on the initiatives will be announced by TM within the next quarter," TM said in a statement.

On Wednesday, Communications and Multimedia Minister Gobind Singh Deo said fixed broadband prices in Malaysia are expected to drop by at least 25% by year end.

This follows the implementation of the Mandatory Standard on Access Pricing (MSAP) that was enforced beginning June 8.

He said the relevant parties are now in discussions on setting the wholesale price and processes, which are expected to be rolled out in July or August, during which cheaper broadband packages will be offered to consumers.

At midday break, TM shares rebounded 9 sen or 2.9% to RM3.23 on 16.36 million shares done.