Telekom Malaysia growth fuelled by internet gains

Telekom Malaysia has posted revenues of MYR8.8 billion (USD2.9 billion) for 2010, up from MYR8.6 billion twelve months previously. The company said much of the growth was due to increasing demand for internet and data services: sales from its internet unit were up 5.9% year-on-year to MYR1.7 billion. Net income soared 88% to MYR1.2 billion, partly boosted by the sale of stakes in a number of affiliated companies. In its outlook for 2011 the company said it was targeting revenue growth of 2.5%, and an EBITDA margin of 32%, down slightly from 33.1% recorded in 2010 and 34% posted in 2009. CAPEX in 2011 is expected to reach MYR3 billion as the company continues the rollout of ‘HSBB’, its high speed broadband network.