TM set to sign government deal on 14 August

4 Aug 2008

Malaysian news source The Star claims that the delayed deal between Telekom Malaysia™ and the Malaysian government relating to the national high speed broadband project will be completed on 14 August. The initial signing of the agreement was postponed due to financial reviews by the government. The report suggests that the government will now invest MYR2.4 billion (USD735 million) in the scheme, lower than the original MYR5.4 billion figure it had announced in September 2007. The reduction comes as the government is understood to have decided to scale down its involvement this year, only investing in work in Zone 1, which covers major cities and towns. TM will set aside a total of MYR15.2 billion for the full project, and the operator expects to start rollout six months after the contract is signed.

Malaysia, Telekom Malaysia