KUALA LUMPUR, Aug 23 — National telecommunications company Telekom Malaysia Bhd (TM) has received a termination notice from Digital Nasional Bhd (DNB) today for the share subscription agreement (SSA) signed on Dec 1, 2023.
This is following the non-acceptance of its request and appeal for an extension of the conditions precedent longstop date for it to obtain shareholders’ approval at an extraordinary general meeting (EGM) due to the SSA being a related party transaction.
TM said it requires additional time beyond August 21, 2024, to address matters related to the EGM.
“This turn of event does not affect TM’s current 5G offerings to the customers as its 5G wholesale service subscription from DNB remains in place.
“The group is committed to providing high-quality converged digital offerings across various segments of its customers,” it said in a statement to Bursa Malaysia today.
As the leading fibre infrastructure provider in Malaysia, TM will continue to play a key role in supporting the nation’s 5G ecosystem and transition to the 5G dual network, ensuring the nation benefits from the latest advancements in connectivity and digital services.
— Bernama
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