Trending Now
02 March 2023. Thursday
KUALA LUMPUR (March 1): Telekom Malaysia Bhd (TM) has announced the internal reorganisation of its business in Malaysia into a single operating entity named TM Technology Services Sdn Bhd (TM Tech) following the approval of various bodies, including the High Court and the Malaysian Communications and Multimedia Commission.
TM said that effective Wednesday (March 1), it will serve as an investment holding company for TM Tech, along with other wholly owned subsidiaries, covering TM’s international, digital, education, support business and other non-wholly owned subsidiaries.
The group in totality will continue to be governed by the current TM’s board of directors and managed by the same senior management team, said TM in a statement.
It said the reorganisation into TM Tech — which includes Unifi, TM One and TM Global — marks the next phase of TM’s transformation that will reinforce its fixed-mobile convergence (FMC) position, further improve operational efficiencies, and deliver a more seamless customer experience.
Resource-wise, the reorganisation brings together diverse talents, facilitating greater cross-functional collaboration and agility through more streamlined and simplified processes.
“As customer demand, increasing competition and stakeholder expectations reshape the industry, it is timely to consolidate our telco business in Malaysia into a single operating entity that will allow us to serve our diverse customer segments better and quicker, as well as drive operational efficiency,” said TM group chief executive officer Datuk Imri Mokhtar in the statement.
“We have recently notified all of our valued customers on this internal reorganisation via email and digital letters. At this point, for all payment transactions — the beneficiary name will now be ‘TM Technology Services Sdn Bhd’ instead of ‘Telekom Malaysia Bhd’. All other payment details remain the same, such as the bank account and JomPAY code,” he added.
Shares in TM settled seven sen or 1.39% lower at RM4.96, giving the group a market capitalisation of RM18.96 billion.
