25 Feb 2025
TM Records Higher Profits in FY2024, Strengthening Future Growth Opportunities
FY2024 Key Highlights (vs FY2023)
- Operating Revenue recorded a positive trajectory, increasing 0.2% to RM11.71 billion
- EBIT strengthened by 11.3% from RM2.09 billion to RM2.33 billion
- PATAMI increased 7.8% from RM1.87 billion to RM2.02 billion
- Fixed broadband subscribers grew 1.5% to 3.179 million
- 2nd Interim Dividend of 12.5 Sen per Share and RM230.3 million Special Dividend
KUALA LUMPUR, 25 February 2025 – Telekom Malaysia Berhad (“TM” or “the Group”) today announced its financial results for the year ended 31 December 2024 (FY2024), reporting a positive revenue trajectory alongside strong Earnings Before Interest and Tax (EBIT) and Profit After Tax and Non-Controlling Interests (PATAMI) performance. These results underscore TM’s resilience in an increasingly dynamic and competitive market.
The Group’s operating revenue recorded a positive trajectory, increasing 0.2% year-on-year (YoY) to RM11.71 billion, while EBIT strengthened by 11.3%, from RM2.09 billion to RM2.33 billion. The EBIT performance exceeded the Group’s market guidance, driven primarily by higher yield products and services, lower operating costs from improved efficiency, and lower depreciation and amortisation costs. Meanwhile, PATAMI increased 7.8% from RM1.87 billion to RM2.02 billion contributed by improved operating profits, lower net finance costs, and utilisation of remaining one-off tax adjustments. The overall encouraging performance is supported by a robust balance sheet and healthy cash reserves, showcasing TM’s strong operational fundamentals and financial position.
TM continued to invest strategically in network infrastructure, international submarine cables and data centres in FY2024. Its total capital expenditure (CAPEX) amounted to RM1.59 billion, representing 13.6% of total revenue – well within its guidance range.
In line with its robust financial performance, the Group has declared a 2nd Interim Dividend of 12.5 Sen per Share and RM230.3 million Special Dividend. The Total Dividend for FY2024, including the Interim Dividend declared in August 2024 stands at 31 sen per share, reaffirming TM’s commitment towards value creation and sustainable returns for shareholders.
Amar Huzaimi Md Deris, TM Group Chief Executive Officer said, “TM’s performance in 2024 reflects our ability to navigate a highly competitive market, both domestically and internationally, while staying true to our core purpose of creating value for all stakeholders. This achievement demonstrates our execution capabilities and commitment to drive operational efficiencies, while advancing Malaysia’s digital agenda.
“For instance, our Unifi UniVerse, Malaysia's best convergence offering, continued to delight customers and drive steady growth in our fixed broadband subscriber base, solidifying our position as the nation’s convergence champion with the only quad-play services. Our success is further bolstered by strategic collaborations with government agencies and enterprises, accelerating digital transformation through solutions such as Smart Services, Sovereign Cloud, and Cybersecurity. In addition, we expanded our core digital infrastructure, including nationwide fibre network, broadband coverage, 5G mobile backhaul, data centres and submarine cables - all critical to foster digital inclusivity. This reinforces TM’s role as the digital catalyst connecting Malaysia to the world and the world to Malaysia.
“In essence, our core businesses remain resilient, sustaining positive revenue trajectory amidst heightened competitive pressure and market dynamics. At the same time, our internal efficiencies remain robust as evident in our strong EBIT and PATAMI, providing a solid foundation and strategic edge to propel TM forward. This has poised us to better capitalise emerging opportunities such as hyperconnected data centres, AI, and GPU-as-a-Service (GPUaaS) which are among the new growth areas for TM. These efforts will not only drive us closer to our aspiration of becoming a Digital Powerhouse by 2030 but also position Malaysia as the digital hub for ASEAN,” Amar concluded.
TM’s 2025 outlook is positive and underpinned by these priorities. The Group’s market guidance reflects confidence in sustained growth and operational excellence, reinforcing long-term value creation.
2025 Market Guidance:
| Revenue Growth | Low single digit increase |
| EBIT | Similar level to 2024 |
| CAPEX / Revenue | Between 14% - 16% |
Lines of Businesses (LOBs) Performance
B2C Strengthens Position as the Market Leader in Converged Services
Our B2C segment (Unifi) reinforced its position as Malaysia’s convergence champion, recording a 1.5% increase in fixed broadband subscribers to 3.179 million in FY2024. This growth reflects Unifi’s strong customer acquisition and retention strategy, driven by its UniVerse campaign. The mobile segment also continued to be fuelled by enhanced postpaid and prepaid offerings, including the 200GB 5G Monthly Data Pass for RM1 for UNI5G Postpaid 39 customers and UNI5G WOW Prepaid plan.
In addition, as the preferred digital partner for over 400,000 MSMEs nationwide, Unifi Business forged strategic collaborations with Maybank Islamic Bhd to deliver Banking-as-a-Service solution powered by 5G, and TNG Digital to accelerate MSMEs’ 5G adoption and eWallet services. Unifi was named Best Fixed Business Service Provider and Best Home Broadband Service Provider at PC.com 2024 Readers’ Choice Awards, and awarded Ookla's Fastest Wi-Fi Provider in Malaysia and Open Signal’s World's No.1 Fastest 5G Download Speed provider. For more information, visit https://unifi.com.my/all-in-one, https://unifi.com.my/tv/ and https://biz.unifi.com.my/
B2B Drives Digital Transformation for Enterprises and Government
Our B2B segment (TM One), the Group’s enterprise and Government sector business solutions arm, recorded a 0.7% increase in revenue YoY, reaching RM2.91 billion with improved contributions from beyond connectivity products and solutions.
Key initiatives include collaboration with the Government to develop and operate the nation’s new emergency response system, the Next Generation Emergency Services 999 (NG999) for more efficient and swifter emergency responses. TM One also launched the first AI-Enabled Global Business Services Centre on the East Coast to enable investment growth in the Eastern Economic Corridor. Recent industry collaborations driving digital transformation include expanding Private 5G rollout with PETRONAS, digitalising PR1MA’s housing projects, upgrading Perodua’s digital infrastructure, enhancing secure SD-WAN connectivity for KPJ hospitals, and strengthening Malaysia’s digital healthcare and wellness services with Siemens Healthineers. TM One was also recognised with multiple industry awards such as PIKOM Award: IT Services Digital Enabler 2024 and Cybersecurity Company of the Year 2024 award by Cyber Security Malaysia.
C2C Strengthens Malaysia’s Position as a Digital Hub for the Region
Our C2C segment (TM Global), TM’s wholesale business arm, sustained a steady revenue of RM3.06 billion, driven by data demand in both domestic and international segments. Domestically, it continued deploying mobile backhaul sites especially to support 5G and increasing high-speed broadband access, reinforcing digital inclusivity nationwide. Internationally, TM Global has significantly grown data services to enable seamless border-to-border and data centre-to-data centre connectivity, while securing substantial long-term capacity requirements from global carriers.
In addition, TM Global is broadening its data centre portfolio, including the development of a new hyperconnected, sustainable AI-ready data centre in Johor in partnership with Singtel’s Nxera, and expansion of the existing Klang Valley Data Centre (KVDC) and Iskandar Puteri Data Centre (IPDC). It also enhanced its core capabilities by introducing sovereign GPU-as-a-Service (GPUaaS) to support Malaysia’s AI aspirations. TM Global was awarded Best Operator in the Emerging Market category by Carrier Community Global Awards 2024 and Telecom Company of the Year – Malaysia and Wholesale Company Initiative of the Year – Malaysia, at AsianTelecom Awards.
YOU MAY ALSO LIKE
FAM - TM Jalin Semula Kerjasama Strategik Sebagai Rakan Rasmi Teknologi
Persatuan Bolasepak Malaysia (FAM) meneruskan jalinan kerjasama dengan Telekom Malaysia Berhad (TM) di mana syarikat telekomunikasi terkemuka negara itu menjadi Rakan Rasmi Teknologi bagi FAM dan pasukan kebangsaan, Harimau Malaya untuk tempoh setahun bermula Jun 2023 ini. Perjanjian itu juga menjadi bukti komitmen tinggi TM terhadap pembangunan sukan bola sepak negara di mana syarikat tersebut telah terlibat secara langsung dalam industri bola sepak tempatan sepanjang dua dekad yang lalu. Menurut Presiden FAM, Datuk Haji Hamidin Haji Mohd Amin, kerjasama yang kembali terjalin bersama TM selepas kali terakhir berkolaborasi pada tahun 2020 membuktikan hubungan baik FAM bersama syarikat telekomunikasi itu sentiasa dipelihara. “Sudah pasti FAM berasa gembira dan berbesar hati dengan jalinan semula kerjasama bersama TM yang tentunya akan membawa manfaat besar kepada perancangan dan pembangunan skuad bola sepak kebangsaan. “Saya optimis bahawa hubungan strategik antara FAM dan TM ini dapat mencapai hasil penajaan yang menggalakkan selain memberi peluang TM membawakan produk mereka untuk dinikmati oleh jutaan peminat bola sepak di negara ini melalui pelbagai program promosi yang akan kita aktifkan dalam masa terdekat. “Mewakili seluruh warga kerja FAM, saya ingin menzahirkan setinggi-tinggi penghargaan kepada TM dan berharap menerusi kerjasama ini, arena bola sepak negara akan bergerak ke arah kecemerlangan,” kata Datuk Haji Hamidin. Majlis menandatangani perjanjian antara FAM dan TM itu telah berlangsung di Wisma FAM, Kelana Jaya petang tadi di mana FAM diwakili oleh Setiausaha Agung FAM, En Noor Azman Hj Rahman sementara TM telah diwakili oleh Naib Presiden, Jenama dan Pemasaran, En Andrew Pinto. Majlis tersebut telah disaksikan oleh Datuk Haji Hamidin bersama-sama Puan Shanti Jusnita Johari, Ketua Pegawai Pemasaran, TM. Turut hadir adalah kedua-dua Timbalan Presiden FAM, Datuk Wira Mohd Yusoff Mahadi dan Dato’ S. Sivasundaram, barisan ahli Jawatankuasa Eksekutif FAM, serta barisan pengurusan kanan Kumpulan TM. Sementara itu, Puan Shanti turut menzahirkan penghargaan kepada pihak FAM atas kolaborasi ini yang membolehkan TM meneruskan peranannya dalam memajukan sukan bola sepak sebagai sukan nombor satu negara yang mempunyai jutaan peminat tanpa mengira bangsa, umur dan latar belakang. “TM menerajui evolusi teknologi telekomunikasi negara sejak sekian lama ke arah membina Digital Malaysia menerusi teknologi yang memperkasa komuniti, perniagaan dan Kerajaan. Kini, TM telah menjalani transformasi ke arah menjadi sebuah Syarikat Teknologi Berteraskan Insan, ataupun, a Human-Centred Technology Company. Peralihan ini akan turut diterapkan dalam jalinan kerjasama antara TM dan FAM ini, dengan membawakan pengalaman baharu kepada para penyokong pasukan kebangsaan melalui teknologi digital serta perkhidmatan komunikasi dan kandungan,” kata beliau. “Kami amat berbesar hati dapat memberikan sokongan kepada sukan bola sepak kerana ianya mampu menyatukan rakyat Malaysia di bawah satu bendera. Diharapkan kolaborasi ini dapat mencetuskan minat dan sokongan yang lebih jitu daripada para peminat, seterusnya memberi suntikan semangat untuk pasukan bola sepak kebangsaan. Semoga kerjasama antara kedua-dua pihak bakal mengangkat martabat sukan bola sepak kita dan mengharumkan nama Malaysia di peringkat antarabangsa,” akhiri Puan Shanti.
TM R&D’s Customer-focused innovations recognised at the Malaysia Technology Excellence Awards
In-house smart solutions for Fixed Wireless Access connectivity and customer experience platform for frontliners awarded under “Connectivity-Telecommunications” and “AI-IT Services” categories respectively Telekom Research & Development Sdn Bhd (TM R&D), the innovation arm of Telekom Malaysia Berhad (TM), recently bagged two awards at the Malaysia Technology Excellence Awards 2022, organised by the Singapore Business Review. The Malaysia Technology Excellence Awards spotlights exceptional companies who are technology disruptors that boosts Malaysia’s economy. TM’s Fast Internet for All (FIRA) solution was bestowed the award under the “Connectivity-Telecommunications” category, while TM’s Single Platform on Intelligent Customer Experience (SPICE.ai) won the award in the “Artificial Intelligence (AI)-IT Services” category. Commenting on these awards, Dr. Sharlene Thiagarajah, Chief Executive Officer, TM R&D said, “I couldn’t be prouder of my team as these awards reflect their commitment to meet the fast-evolving digital needs of today’s customers and strengthen our position as a research leader in these fields. This recognition also reaffirms our efforts in building smarter digital ecosystems to facilitate the ease with which Malaysians can embrace a more digital lifestyle, while also bringing progress to the nation.” FIRA was introduced as a way to support the government in providing Malaysians with quality access to digital connectivity nationwide. Aimed at offering better internet service to underserved communities, FIRA uses Fixed Wireless Access (FWA) technologies to improve connectivity in rural areas across Malaysia. Since its first deployment in Malacca back in July 2020, the solution has demonstrated promising success in improving download and upload link speeds compared to other broadband services. The solution has since been implemented at a rural school in Selangor and at Pusat Komuniti Desa sites under the Ministry of Rural Development. It has also supported an IR4.0 use case in Terengganu. “FIRA is formulated to address two common issues: coverage and speed. The solution is capable to deliver connectivity up to 50Mbps within 5-8km range, compared to a traditional 4G cell within 1km range. Furthermore, with its quick deployment procedures, FIRA can help mitigate customers’ connectivity concerns in a cost-effective and timely manner,” shared Dr. Sharlene. SPICE.ai, on the other hand, aims to assist frontliners in their daily task of addressing customer service enquiries and requests. Dr Sharlene explained, “SPICE.ai consists of multiple components that cover different parts of an existing customer experience system. By integrating these components, frontliners gain a more holistic view of each customers’ profiles. The solution then implements real-time analytics to improve customer experience, giving frontliners the right information at the right time which allows them to deliver a better experience to customers.” This analytics system has been deployed nationwide for nearly two years and becomes the primary touchpoint for more than 5,000 TM frontliners in most customer interactions across multiple channels. The performance of SPICE.ai has proven to be reliable and seamless even when integrated with more than 20 existing, standalone systems and was still able to relay the processed information through one single platform, on top of providing analytics and advisory. Established in 2001, TM R&D is the innovation arm of TM Group focusing on creating smarter ecosystems to make business and life easier for a better Malaysia. TM R&D’s solutions are clustered around four pillars namely Intelligent Platforms, Data Brokerage, Connectivity/Tools and IR4.0/Digital Solutions. Growing from strength to strength, TM R&D has won multiple global awards and generated more than 2,800 Intellectual Property Rights (IPRs) and 1,400 digital assets to date. TM R&D’s innovations are developed in-house and cut across multiple industries such as Utilities, Retail, Agriculture, Healthcare and Education, with safety and productivity as its top priority.
TM ONE REINFORCES COMMITMENT TO ENABLING MELAKA'S DIGITAL TRANSFORMATION ASPIRATIONS
KUALA LUMPUR & MELAKA, 30 DECEMBER 2024 – TM One, TM’s enterprise and government sector solutions arm, has reinforced its commitment to enabling Melaka’s digital and sustainable development through various collaborations with local agencies. Working with Majlis Perbandaran Alor Gajah (MPAG) and Syarikat Air Melaka Berhad (SAMB), TM One is deploying digital solutions to support the state’s economic growth, public services, and aspirations to become a model smart city. TM One also recently welcomed Datuk Seri Utama Ab Rauf Yusoh, Melaka’s Chief Minister, to the TM Response Centre Melaka, one of three facilities that supports emergency responses across Malaysia. The Centre is staffed by over 150 personnel who manage emergency response calls 24/7, ensuring quality control, technical support, and data management. Handling over a million calls every month, the Centre serves as a critical national infrastructure that connects citizens with emergency responders, reinforcing public safety and security. Shazurawati Abd Karim, TM One’s Executive Vice President, said “The Chief Minister’s visit to TM’s Response Centre and our strategic partnerships with MPAG and SAMB underscore TM One’s expanded role in Melaka’s digitalisation journey. These essential services contribute to the state’s aspirations to enhance public safety, operational resilience, and sustainable urban growth, and are significant steps toward realising Melaka’s vision of becoming a premier smart city. This is part of TM’s aspirations to become a Digital Powerhouse, leveraging our offerings to help government agencies improve the quality of life for Melaka’s citizens.” Enhancing Urban Management In partnership with MPAG, TM One has introduced the Local Urban Observatory (LUO) Smart Solution, a data-driven platform designed to elevate urban monitoring and decision-making in Alor Gajah. This five-year collaboration integrates real-time data analytics, predictive insights, and public service tracking capabilities, enabling MPAG to monitor critical urban metrics, and gain insights on infrastructure management, public services, and environmental sustainability. Shazurawati commented, “Our LUO Smart Solution with MPAG exemplifies how AI and data analytics can drive sustainable urban planning and operational efficiencies. This collaboration empowers Alor Gajah to enhance its public service responsiveness and create a more liveable environment, aligning with Melaka’s smart city development.” Transforming Water Management To modernise Melaka’s water management services, TM One was appointed by SAMB to provide Smart Workforce Solutions. Leveraging the Open Innovation Platform (OIP) and a range of digital tools including Workflow and Job Assignment Software, the solution enables efficient task allocation and tracking for improved metering, restoration, and contractor management. Customised workforce monitoring devices further provide real-time data capture and reporting from on-site locations, improving operational visibility and safety. Additionally, high-speed mobile connectivity supports communication and coordination, ensuring swift task completion and better service quality. Shazurawati concluded, “Our partnership with SAMB highlights the transformative power of technology in essential services, improving efficiency through swift, coordinated responses to critical tasks. By digitalising workforce operations, we are enabling SAMB to improve operational resilience and elevate service standards for the people of Melaka.”
NEWSLETTER
Just drop your details and stay updated with the world of Telekom Malaysia. We promise – no spam!