Telekom Malaysia Bhd's subsidiary, GITN Sdn Bhd, has been awarded a 10-year, RM4.9 billion concession by the Malaysian government.
The agreement entails the provision of a secure integrated telecommunication network that connects over 10,000 government premises within Malaysia and overseas Malaysian embassies. The MyGov*Net 2.0 concession will contribute positively to TM group's earnings and net assets for the current financial year.
TM has taken measures to mitigate risk factors such as changes in the economic and regulatory environment. Telekom Malaysia's share price closed unchanged at RM5, with 2.9 million shares traded.