KUALA LUMPUR (Dec 20): Maxis Bhd has signed an amendment agreement with Telekom Malaysia Bhd (TM) to extend the high-speed broadband (HSBB) premium service agreement until June 30, 2029.

Maxis via its broadband arm, Maxis Broadband Sdn Bhd, inked the agreement with TM's wholly-owned unit TM Technology Services Sdn Bhd (TMT), allowing Maxis Broadband to procure the premium service from TMT, enabling the telco to reach out to more premise passes for HSBB across the country.

In a filing on Wednesday, TM said the agreement is a modification of the existing agreement dated Feb 8, 2019, which will see an improvement in similar services currently provided to Maxis Broadband.

The amendment agreement will see Maxis Broadband becoming TMT’s premium customer for the HSBB premium service with enhanced features and functionalities from basic HSBB access services.

TMT will provide the HSBB premium service to Maxis Broadband, which the telco will pay for based on agreed parameters as stipulated in the agreement.

The agreement will commence from the signing of the amendment agreement until June 30, 2029, with an option to extend by both parties.

Maxis Broadband and TMT initially signed the agreement back in 2010 for up to ten years. Under the 10-year agreement, Maxis Broadband has been provided access to TM's HSBB infrastructure, covering last-mile access to homes.

Meanwhile, TM said that the amendment agreement demonstrates its shared commitment to ensuring seamless, stable and always-on connectivity for Malaysians and remains essential in line with the government’s Malaysia digital economy blueprint.

At noon close on Wednesday, shares in Maxis were up four sen or 1.04% to RM3.90, valuing the group at RM30.55 billion, while TM's shares were six sen or 1.10% higher at RM5.50, with a market capitalisation of RM21.10 billion.

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