Telekom Malaysia (TM) has no plans to refinance a MR2bn (US$674.9m) Islamic bond (sukuk) facility due to mature at the end of December, according to CFO Datuk Bazlan Osman.
Speaking at a press conference after the incumbent telco’s AGM in Kuala Lumpur…
Telekom Malaysia (TM) has no plans to refinance a MR2bn (US$674.9m) Islamic bond (sukuk) facility due to mature at the end of December, according to CFO Datuk Bazlan Osman.
Speaking at a press conference after the incumbent telco’s AGM in Kuala Lumpur yesterday, Osman said the company has enough cash to repay the debt, adding that it does not intend to issue new bonds, local media reported.
In April 2011 TM won approval for two Islamic debt programmes with a combined limit of MR2bn, specifically an Islamic Commercial Papers programme and an Islamic Medium Term Notes programme. Both were arranged by AmInvestment Bank and CIMB and to be used to finance capital expenditure.
In a statement today on the AGM, TM said shareholders have approved a total dividend payment of MR797m (US$268.9m), with the first payment to be made on 27 May.
The company also noted that it has exceeded the rollout commitment set out in its Public-Private Partnership (PPP) agreement with the government for high-speed broadband.
“Our UniFi service now has close to 552,000 customers on the back of 1.39 million premises passed covering 102 exchange areas, which translates to around 38% take-up rate, going beyond global benchmarks of similar service roll-outs,” chairman Dato’ Sri Dr Halim Shafie said.
TM reported revenue growth of 9% to MR9.99bn (US$3.34bn) for FY 2012 and EBITDA growth of 4.7% to MR3.23bn (US$1.09bn).
