TM’s foreign borrowings still manageable

KUALA LUMPUR: The exposure to foreign exchange (forex) losses is manageable and Telekom Malaysia Bhd (TM) would only hedge its foreign currency borrowings only if there is an opportunity.

Group Chief Financial Officer, Datuk Bazlan Osman, said this was because the amount of the unhedged foreign borrowings was relatively small, at 13 per cent.

“The borrowings are related to the long-term bonds which are due in 2025, of which US$200 million are not hedged.

“We will look into any possibility on hedging because there is a cost to it which bank charges,” he said.

Bazlan said this to reporters after the company’s annual general meeting and extraordinary general meeting here yesterday.

Meanwhile, Group Chief Executive Officer, Tan Sri Zamzamzairani Mohd Isa, said Packet One Networks (M) Sdn Bhd (P1), soon to be known as Webe, was finalising its product details, including packages and billings, which was set to be launched in the middle of the year.

TM holds 72.9 per cent stake in P1, and the inclusion of the latter into TM would complete the telecommunications provider’s full service offerings.

On whether TM would revise its product pricing to compete with competitors, Zamzamzairani said, the company currently prioritied putting value ahead of pricing.

“We realise that pricing is an important element to drive the market in this challenging economic environment, but at TM, we want to provide the best value to our customers,” he said. — Bernama