TM, TNB say no-go for nationwide fiberisation plan

PETALING JAYA: Telekom Malaysia Bhd (TM) and Tenaga Nasional Bhd (TNB) have mutually agreed not to proceed with their proposal to undertake the government’s nationwide fiberisation plan (NFP).
Earlier this year, TM and TNB entered into a memorandum of understanding (MoU) to establish a joint proposal on NFP, in which a definitive agreement was supposed to be signed upon finalisation of the commercial terms.
The collaboration was in line with the government’s aspirations to drive Malaysia’s digital economy, as envisioned under both the NFP as well as the High Speed Broadband projects.
“Discontinuation of the MoU does not preclude TNB and TM from considering other collaborations should there be future business opportunities that are beneficial to both parties,” TNB said in a Bursa Malaysia filing.
At today’s market close, TM’s share price rose 4 sen or 1.05% to RM3.85, while TNB slipped 4 sen or 0.27% to RM14.78.