Extension Of Agreement To Procure High Speed Broadband ("HSBB") Premium Services And Hsbb Add-on Services With Tm Technology Services Sdn. Bhd. ("HSBB PREMIUM SERVICE").

Back Dec 20, 2023
Type Announcement
Subject OTHERS
Description Extension of agreement to procure High Speed Broadband ("HSBB") Premium Services and HSBB Add-On Services with TM Technology Services Sdn. Bhd. ("HSBB Premium Service").
The Board of Directors of Maxis Berhad (“Board”) wishes to announce that Maxis Broadband Sdn. Bhd. (“Maxis”), a wholly-owned subsidiary of Maxis Berhad (“Maxis Berhad”), has on 20 December 2023, signed an Amendment Agreement (which includes an amended and restated HSBB Premium Service Agreement) with TM Technology Services Sdn. Bhd. ("TMT") to extend an existing HSBB Premium Service Agreement (“Agreement”).

The purpose of the Agreement is for Maxis to procure HSBB Premium Service from TMT. This will enable Maxis to reach out to more premise passes for high-speed broadband (“HSBB”) across the country.

The following are salient terms of the Agreement:-

1. Maxis will be TMT’s premium customer for the HSBB Premium Service with enhanced features and functionalities from basic HSBB access services.

2. The term of the Agreement will commence from signing of the Agreement until 30 June 2029 with an option to extend subject to terms and conditions to be negotiated and mutually agreed by the parties.

3. The Agreement contains customary termination provisions including rights to terminate for breach of contract, a party’s insolvency or cessation of its telecommunications business.

4. TMT will provide to Maxis the HSBB Premium Service for which Maxis will make payment based on agreed parameters as stipulated in the Agreement.

The Agreement will not have any effect on the issued share capital of Maxis Berhad and the shareholdings of its substantial shareholders, nor will it have any material effect on the earnings per share, net assets per share or gearing of Maxis Berhad for the financial year ending 31 December 2023.

The arrangements under the Agreement do not require the approval of the shareholders of Maxis Berhad.

Insofar as the Board of Maxis Berhad is able to ascertain, none of the Directors or substantial shareholders of Maxis Berhad and/or persons connected to them have any interest, direct or indirect, in the Agreement.

The Board of Maxis Berhad, having considered all aspects of the Agreement, is of the opinion that the Agreement is in the best interests of the Maxis Berhad group.

This Announcement is dated 20 December 2023.

Announcement Info

Stock Name MAXIS
Date Announced 20 Dec 2023
Category General Announcement for PLC
Reference Number GA1-14122023-00068