KUALA LUMPUR (May 13): Telekom Malaysia Bhd (KL:TM) said on Monday that it had signed deals with the Home Ministry relating to two contracts worth RM120.5 million, at the recent Defence Services Asia (DSA) Exhibition and Conference 2024 and National Security (Natsec) Asia 2024.

In a filing to Bursa Malaysia, TM said the contracts were awarded to its wholly owned unit TM Technology Services Sdn Bhd.

"These contracts are in the ordinary course of TM’s business, and not material to TM Group," added the group in response to an article in the latest edition of The Edge Malaysia weekly.  
 
The first contract, the group said, is a six-month extension worth RM71 million from the initial three-year contract that commenced in 2021. The group said it accepted the letter of award for the extension on March 27 for managed network connectivity services.

Meanwhile, the second contract worth RM49.5 million was accepted by TM on Sept 5 in 2022 to manage ICT services for a period of two years until end-2024.

Home Minister Datuk Seri Saifuddin Nasution Ismail last Wednesday announced that his ministry had inked 14 contracts worth RM2.156 billion with several government agencies and local companies in conjunction with the DSA exhibition and Natsec Asia 2024. Among the agencies are the Royal Malaysian Police (PDRM), the Malaysian Maritime Enforcement Agency and the National Registration Department (JPN). Also mentioned were three companies, namely TM, TM Technology and Labuan Shipyard Engineering Sdn Bhd.

Shares in TM closed unchanged at RM6.17 on Monday, giving the group a market capitalisation of RM23.68 billion. 

https://www.theedgemarkets.com/node/711386