Telekom Malaysia to raise capital spending especially in Indonesia

The Jakarta Post

KUALA LUMPUR (AP): Telekom Malaysia plans to raise its capital spending to 8 billion ringgit (US$2.34 billion) this year to expand its network and services abroad particularly in Indonesia, a top official said Tuesday.

Capital spending this year will be 48 percent higher than last year's 5.4 billion ringgit to boost its operations overseas, especially in Indonesia, Telekom Chief Executive Abdul Wahid Omar told reporters.

Some 5 billion ringgit of this year's allocation will go to Telekom's overseas operations in Indonesia, India, Sri Lanka and Pakistan, he said. He didn't give details of the expansion.

Telekom, unlike power firm Tenaga Nasional, has not asked the government to increase the percentage of foreign equity shareholding in the company, Abdul Wahid said.