Telekom Malaysia Berhad (TM) has announced the completion of the Investment Agreement for its partnership with Green Packet Berhad (Green Packet) and SK Telecom Co., Ltd (SK Telecom) for the three parties to share in the ownership and collaborate in the future growth of Packet One Networks (Malaysia) Sdn Bhd (P1).
The agreement sees TM emerges as the new holding company for P1 with a shareholding of 55.3%; and the remaining 44.7% is shared between Green Packet (31.1%) and SK Telecom (13.6%).
The partnership enables P1 to crossover to LTE and offer full mobility while providing TM with an LTE-ready platform to accelerate and more efficiently make wireless broadband products available to its customers.
This includes access to suitable spectrum bands, the ability to draw on advanced technological know how of SK Telecom, an existing customer base to build on, and the strong base of LTE upgradeable WiMAX sites to quickly achieve extensive LTE coverage.
TM sees the provision of mobility solutions to customers as a natural progression in line with industry evolution towards true convergence, not just from a technology or device perspective, but more importantly from a customer experience point of view, in the delivery of end-to-end broadband and data services.
Its investment into P1 and the recent launch of its first 4G broadband offering, TMgo are part of TM’s roadmap towards becoming the No. 1 converged communications service provider.
Since TM is the largest telco in Malaysia, and they do own the rights to the HSBB initiative by the government, we can only see good things coming out from this venture. In fact, news on TMgo has already excited us at SarawakBloggers.net, and we are relishing the prospect to know when it would be rolled out.