TM UNVEILS 'PERFEXE 10' BUSINESS PLAN
Telecommunications firm’s ‘Perfexe 10’ will involve 10 pillars addressing gaps and challenges to boost performance
TELEKOM Malaysia Bhd (TM) has unveiled an execution plan to help manoeuvre the increasingly challenging market environment. Group chief executive officer Datuk Seri Mohammed Shazalli Ramly said it is accelerating the execution of its strategic goals of “Deliver Convergence” and “Go Digital” via “Perfexe 10”.
“Our business direction and strategy remains unchanged, what has changed is our execution,” said Shazalli at a briefing on the group’s first half results, here, yesterday.
TM’s second-quarter net profit rose 51 per cent year-on-year to RM210 million, on a 2.1 per cent lower revenue of RM2.98 billion, helped by foreign exchange gain on borrowings.
For the first half, net profit eased to RM440.92 billion from RM461.88 million a year ago.
Its revenue rose 0.7 per cent to RM5.94 billion from RM5.9 billion a year ago mainly due to higher revenue from Internet and multimedia and other telecommunications-related services.
Shazalli said “Perfexe 10”, which will kick off in the next half of the 2017 financial year, will involve the “perfect execution” of 10 identified pillars to address gaps and challenges coming in the group’s way and making sure it delivers better performance.
One of the 10 pillars is brand consolidation which will see three brand plays for TM — the unification of UniFi, consolidation of its managed accounts enterprise and SME under one brand called TM One, and its wholesale business TM Global will now focus on delivering more value and cost savings in respect to TM’s global business.
There is a pillar to accelerate the group’s go-to-market for new products and services in the second half.
He said another eight pillars will include key execution leadership appointments, empowerment of digitisation, expediting fibre rollout, liberating WiFi and strengthening mobility, consolidation of TM One organisation, workplace segmentation to increase manpower productivity, rewriting TM customer experience culture and inculcating creativity and innovation towards smarter cost management.
“We are still in our phase of investing for the future, and believe this new execution approach will expedite the realisation of the returns,” he said.
With the Perfexe 10 in place, TM chief financial officer Nor Fadhilah Mohd Ali said the group is expected to be stable and steady throughout the second half of the year.
“We expect this year to be stable and steady for us, especially with the refined execution plans,” she said.
It was announced in May that TM had targeted a 3.5-4.0 per cent growth in revenue and same level of profit growth as in the previous financial year.