TM wins high speed broadband project

After several delays, Telekom Malaysia™, the country’s dominant fixed line provider, has finally announced that it has been awarded the government contract to develop Malaysia’s high speed broadband network. The deal will see the Malaysian government invest MYR2.4 billion (USD701 million) over ten years in the project, with TM covering the remaining costs; the total cost of the scheme is expected to reach MYR11.31 billion. The state-controlled operator said it would enter into a formal agreement with the government, expected to be ratified on 16 September; further details of both the project and terms of the agreement are expected to be revealed following the official signing.