TM reports its full year financial and despite the challenging circumstances, the group managed to record profit albeit the lowest since for sometime now. On the back of RM11.82 billion in revenue, the group posted a meager RM64.6 million in profits before tax, that’s just 0.5% of revenue.
Attributing to persistent headwinds in the industry and operating landscape for the lower than expected returns, even though TM saw an increase in internet adoption it was however offset by lower data, voice and other services. This will not sway from the company’s strategy, over the next 3 years, it will focus on three strategic pillars – Converged Services, Simplification & Digitalisation, Lean & Lower Cost, with its integrated network infrastructure together with its digital platforms.
Imri Mokhtar, Acting Group CEO TM “2018 was undoubtedly one of the most challenging times TM has ever faced. We worked tirelessly to address the competitive landscape and industry dynamics, without losing focus on our strategies and organisational mission. We took a big hit but this has only strengthened our resolve to make good on what we need to deliver to all our stakeholders”
During this period, sustained customer satisfaction with Customer Satisfaction Measure scored more than 73, which is above global telco average of 66. On broadband performance, the penetration now stands at 53% of TM Households with 2.23 million broadband customer base comprising 1.3 million unifi and 936k Streamyx customers. Total of 911,000 unifi customers upgraded to 10 times existing speed, 239,000 Streamyx customers upgraded to unifi and 181,000 Streamyx customers upgraded to 2 times existing speeds.
Things are still WIP in TM, while the year 2018 has been a challenging year for the industry, TM expects the environment to remain challenging that could impact the business operations. However, the group is steadfast inn focusing on its long term plans of convergence offering. Sweating its biggest asset in the arsenal, the wireless agenda with Unifi Mobile can be the much needed missing puzzle and repacking the fibre broadband for homes offerings can be the other.
