Telekom Malaysia Berhad (TM) today made the following key announcements:
- Dato’ Sri Abdul Wahid Omar, the current Group Chief Executive Officer (CEO) of TM has tendered his resignation to take up the appointment as CEO Designate of Maybank with effect from 2 June 2008 prior to his formal appointment as President and CEO on 1 July 2008. Dato’ Sri Abdul Wahid will remain as the Group CEO of TM until completion of the Demerger which is expected by the end of the second quarter of 2008; and
- The appointment of Dato’ Azman Mokhtar as the Chairman and Dato’ Jamaludin Ibrahim as the Group CEO Designate of TM International Berhad (TMI) with effect from 3 March 2008.
TMI is TM’s investment arm overseeing TM’s international investment and operations. Post TM’s Demerger exercise, the enlarged TMI including domestic mobile operations under Celcom (Malaysia) Berhad will be a listed pure-play regional mobile operator with 39.8 million subscribers across Asia and revenue of RM10 billion based on FY 2007 results. Commenting on the appointments, TM Chairman Tan Sri Dato’ Ir Md. Radzi Mansor said, “I am delighted to hand over the chairmanship of TMI to Dato’ Azman. Dato’ Azman is no stranger to the Group having been a Director of TM since June 2004. As the current Managing Director of Khazanah Nasional Berhad, Dato’ Azman will be able to provide strategic guidance from multi-dimensional perspectives to the Board and management of TMI. I am confident that TMI will benefit from Dato’ Azman’s vast experience and insights into the Group’s operations”. Commenting further on Dato’ Jamaludin’s appointment, Tan Sri Dato’ Ir. Md. Radzi added, “I believe Dato’ Jamaludin is the right man to take the driver seat at TMI. Dato’ Jamaludin is the ideal candidate to take the Company forward in its next phase of development. He brings to TMI extensive experience in the telco, specifically mobile operations, and IT industry both in Malaysia and internationally. His skills and experience will make a huge impact, and his track record will prove essential as we groom TMI to be the leading mobile operator in South / Southeast Asia.” Congratulating Dato’ Sri Abdul Wahid on his new appointment as the President / CEO of Maybank, Tan Sri Dato’ Ir. Md. Radzi said, “I would also like to take this opportunity to thank Dato’ Sri Abdul Wahid for his immense contribution to the TM Group. Dato’ Sri Abdul Wahid has been instrumental in implementing various initiatives crucial to TM’s transformation and growth since he came on board in July 2004. It is during his tenure that the Performance Improvement Program (PIP) was launched to intensify efforts to rejuvenate the domestic fixed line business. TM also made the strategic decision to focus its international expansion and strengthen its presence in emerging markets closer to home. Today, TMI has a strong presence in the fast growing South / Southeast Asia market with a unique portfolio of assets across 10 markets in Asia, 8 of which involve mobile operations. With operations in countries with a large population base and relatively low overall mobile penetration rate, TMI is well positioned to capture future growth opportunities in the region.“ This is an exciting time for TM Group as it proceeds with the Demerger exercise which will give birth to 2 vibrant entities, TM and TMI. Now with these appointments, both companies will be in very capable hands with Dato’ Zamzamzairani Mohd. Isa leading TM (the FixedCo) and Dato’ Jamaludin leading TMI (the RegionCo). As announced earlier, Dato’ Yusof Annuar Yaacob will take on the post of Executive Director / Group Chief Financial Officer of the enlarged TMI post Demerger. TMI is targeted to be listed on the Main Board of Bursa Securities in 2Q 2008. With independent access to the capital market, TMI will have greater freedom to pursue its own investment strategies. Comments by the Incoming Chairman, Dato’ Azman Mokhtar "I look forward to chair the Board of TMI, to build upon its already significant presence as a regional telecommunications force. The time is right, the opportunities are plentiful, and after our successful regionalization over the last few years and the demerger exercise, there is now a great opportunity to create significant and lasting shareholder value on a new template to build GLCs who have every chance to become regional champions. I would also like to place on record my thanks to the board members of TM for the trust in this appointment, in particular to the Chairman Tan Sri Radzi Mansor. Kudos and welcome respectively to the outgoing TM Group CEO Dato' Sri Abdul Wahid Omar and TMI Group CEO designate, Dato' Jamaluddin Ibrahim; the company is blessed to be able to work with two outstanding individuals and leaders and in such a seamless and orderly succession." Comments by the Incoming CEO, Dato’ Jamaludin Ibrahim “I am honoured to take on this role. With an existing presence in 10 countries and strong growth prospects, it would be an exciting journey for me and the company. Also, it's more than a job to me; it’s giving back to the country and an opportunity to do my 'national service', given the national agenda to make TMI the leading regional company, in terms of size and best practice. I look forward to drive and grow TMI in its next stage of growth and join the already strong team at the company.” About TMI TMI is TM’s investment arm overseeing TM’s international investment and operations. TMI is an emerging leader in Asian communication with operations and financial interests in nine Asian countries, namely Sri Lanka, Bangladesh, Pakistan, India, Iran, Indonesia, Singapore, Cambodia and Thailand.
TMI has a track record of adding value to its investments, and an approach which focuses on developing the skills and capabilities of its local management teams and working in partnership with these local teams to achieve strong market positions and profitability.
TM’s overseas investments have always contributed significantly to the Group’s overall PATAMI. For the financial year ended December 2007, TM’s overseas investment contributed 27.7% or RM4.9 billion to the Group revenue. As part of TM’s Demerger exercise, all mobile and overseas operations including domestic mobile operations, Celcom (Malaysia) Berhad, will be grouped under TMI, making it a pure-play regional mobile operator with 39.8 million subscribers as at end of 2007. Upon completion of the Demerger exercise, the enlarged TMI could potentially enjoy the top ten position by market capitalization on Bursa Securities.
About Dato’ Azman Mokhtar
Dato' Azman bin Hj. Mokhtar was appointed as Managing Director of Khazanah Nasional in 1 June, 2004.
Between 1994 and 1998, he was a Director and Head of Research for Union Bank of Switzerland in Malaysia. Between 1998 and 2002, he was Director and Head of Research at Salomon Smith Barney in Malaysia. From 2002 until May 2004, he was the Managing Director of BinaFikir Sdn. Bhd.
Dato' Azman Mokhtar graduated with distinction in M. Phil in Development Studies from Darwin College, Cambridge University, United Kingdom as a Chevening scholar. He is a Fellow of the Association of Chartered Certified Accountants, United Kingdom and is a Chartered Financial Analyst charter holder. He also holds a graduate diploma in Islamic Studies from the International Islamic University, Kuala Lumpur.
About Dato’ Jamaludin Ibrahim
Dato’ Jamaludin has served as a director of the Maxis board since April 2002. He joined Maxis in 1997 and was appointed Chief Executive Officer in 1998. In December 2006, Dato’ Jamaludin was redesignated as Group CEO of Maxis. With effect from August 1, 2007, he stepped down as Group CEO but continues to serve on the Maxis board.
Dato' Jamaludin graduated in 1978 from California State University, USA, with a Bachelor of Science in Business Administration and a minor in Mathematics. He obtained his Masters of Business Administration from Portland State University, Oregon, in 1980, specializing in Quantitative Methods.
Prior to Maxis, Dato' Jamaludin, was the Managing Director and CEO of Digital Equipment (M) Sdn Bhd from 1993 to 1997. Before that, he spent 12 years in IBM Malaysia. He started his career in 1981 as a lecturer.
In Malaysia, Dato' Jamaludin is Chairman of the Advisory Board of the National Science Centre. He also sits on the boards of Universiti Tun Hussein Onn Malaysia and Universiti Tun Abdul Razak Sdn Bhd. He had previously served as board member of the Bridge Mobile Alliance, World GSM Association, Malaysia Venture Capital Management Berhad, a Government-owned venture capital firm, and HeiTech Padu Berhad, a public-listed IT service company.