TM reports lower Q2 profit, expects challenges to persist


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KUALA LUMPUR: Rising competition in the fixed broadband market and the mandatory lowering of prices are hurting Telekom Malaysia Bhd’s (TM) earnings.

The telecommunication company’s (telco) operating profit fell 3.7% to RM248.7mil in the second quarter ended June 30, it said in a filing with Bursa Malaysia on Wednesday. Revenue slipped 1.5% to RM2.98bil due to decrease in voice and data services which was affected by the provision recognised for reduction in revenue in view of regulatory mandated access pricing.

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