KUALA LUMPUR, May 10 — Telekom Malaysia Bhd (TM) has issued a termination notice to Digital Nasional Bhd (DNB), effective immediately, pursuant to the terms of the share subscription agreement (SSA) to subscribe to a 20 per cent equity stake in DNB.
This was following the longstop date to fulfil all conditions precedents (CPs) under the SSA has lapsed, it said in a filing with Bursa Malaysia today.
TM said the termination of the SSA is not expected to have any significant effect on earnings, net assets and gearing of TM Group for the financial year ending December 31, 2023.
“TM customers will continue to enjoy 5G services and solutions as the 5G wholesale access agreement with DNB remains intact,” it said.
Meanwhile, in a separate statement, TM said it looks forward to the next process and discussion with the government and the industry on 5G participation across Phase One (towards 80 per cent service coverage by DNB) and Phase Two (shift to two networks) as announced on May 3.
“TM is committed to continuing playing an active role in the 5G implementation, leveraging its nationwide fibre infrastructure, extensive digital platforms (data centre, edge nodes) and rollout experience,
“We are committed to shaping a Digital Malaysia through technology that empowers communities, businesses and government,” it added.
— Bernama
