TM targets 6% revenue growth in FY13

Telekom Malaysia’s (TM’s) chief financial officer Datuk Bazlan Osman has said that his company aims to maintain the same level of performance in 2013 as it did in the previous year, with the telco forecasting a 6% increase in revenues. Further, The Malaysian Reserve also notes that the fixed line incumbent will use up to 24% of its MYR10 billion (USD3.23 billion) turnover from FY 2012 as capital expenditures in the current financial year. ‘TM’s CAPEX is measured based on efficiency whereby in 2012 it was at 25% or MYR2.5 billion. Our revenue was almost MYR10 billion and we expect it to increase by 6% this year,’ Bazlan was cited as saying. The executive also confirmed that TM will use its cash balance of MYR3.7 billion to redeem the company’s bond issue which is due to mature on 31 December 2013.