Telekom Malaysia tumbles 12% in early trade on news of lower broadband prices by year-end
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Shares of Telekom Malaysia Bhd slumped as much as 12.1% this morning to a low of RM3.19 in anticipation of a drop of at least 25% in broadband prices by year-end.
At the noon break, the stock fell 39 sen or 10.7% to RM3.24 on 39.82 million shares done.
Multimedia and Communications Minister Gobind Singh Deo said yesterday that discussions by relevant parties on the final charges are expected to conclude by August, after which lower priced broadband packages are expected to be offered.
Questions & Answers
Q.Who announced the expected drop in broadband prices?
Who announced the expected drop in broadband prices?
The Multimedia and Communications Minister, Gobind Singh Deo, announced yesterday that lower priced broadband packages are expected to be offered. This follows discussions on final charges, which are anticipated to conclude by August.
Q.When are the lower broadband prices expected to be introduced?
When are the lower broadband prices expected to be introduced?
Lower priced broadband packages are expected to be offered by year-end. Discussions among relevant parties regarding the final charges are forecast to finish by August, paving the way for these new prices.
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