KUALA LUMPUR: Telekom Malaysia Bhd's (TM) wholly-owned subsidiary, GITN Sdn Bhd has bagged a 10 year concession agreement worth RM4.9 billion from the government of Malaysia to provide secured integrated telecommunication network that connects more than 10,000 government premises in Malaysia and Malaysian embassies overseas.
This secured and dedicated Government network integrates with the intranet, internet, Government Campus Network and Public Sector Data Centre secured integrated telecommunication networks for the government.
The MyGov*Net 2.0 concession for 10 years is effective from January 1, 2023 and expires on December 31, 2032.
On earning and net assets, MyGov*Net 2.0 is set to contribute positively to the earnings and net assets of TM group for the current financial year that ends December 31, 2023.
"The risk factors affecting MyGov*Net 2.0 includes changes in the economic, regulatory and global supply environment, which TM group has taken the necessary steps to mitigate," it added.
Telekom Malaysia's share price closed unchanged at RM5, with 2.9 million shares changing hands.