04-07-2008: TM hopes to sign HSBB agreement by this month (Updated) Racheal Lee Mei Nyee Email us your feedback at fd@bizedge.com
KUALA LUMPUR: Telekom Malaysia (TM) hopes to sign an agreement with the government for the high speed broadband (HSBB) project by this month, TM chief executive Datuk Zamzamzairani Isa said yesterday.
"We hope to sign the agreement by this month. It was supposed to be signed at the end of last month," he said but didn't explain why the signing of the agreement had been delayed.
TM was awarded with the HSBB project on September last year. The infrastructure, with speed of between 10 Mbps and 1 Gbps, will offer competitive rates to encourage more broadband usage.
The RM15.2-billion project will be developed in three phases over the next 10 years based on a public-private partnership (PPP) with the government. The government will invest about one-third of the amount or RM4.8 billion, including the cost for last-mile fibre, core network and international connectivity, while TM will fork out the remaining RM10.4 billion.
Meanwhile, Zamzamzairani also said TM was looking for opportunities to dispose of the company's non-core businesses. "We are still looking for the opportunities to sell our non-core businesses. The practice is just a normal course of business," he added.
TM's former chief executive Datuk Sri Abdul Wahid Omar, who is now helming Malayan Banking Bhd, had said the monetisation of non-core assets was an important strategy to achieve operating and capital efficiency.
Early this year, TM completed the sale and purchase of Menara TM, Menara Celcom, TM Cyberjaya Complex and Wisma TM with Menara ABS Bhd for a total purchase consideration of RM1 billion.
http://www.theedgedaily.com/cms/content.jsp?id=com.tms.cms.article.Article_eb8c405e-cb73c03a-c8c7d600-bd8974cd
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