TM has incorporated a wholly owned subsidiary in Australia, Telekom Malaysia Australia. The incorporation is part of the company’s plan to expand its operations in Australasia and the Philippines. TM has also made its first issuance under the Islamic medium term note programme of RM 200 million with a tenor of seven years. The proceeds will be used to meet capital expenditure and business operating requirements.
BGSM Management Sendirian Berhad, a unit of Malaysia’s mobile phone operator Maxis Berhad, plans to raise up to RM 10 billion over the next two years via Islamic bonds, or sukuk, to refinance its existing debt and meet working capital requirements. The sukuk under the new programme will range from 1 to 30 years. CIMB Investment Bank Berhad is advising BGSM on the deal.