TM and TT dotCom to Install SKR1M Subsea Cable
- Business & Finance
Telekom Malaysia (TM) has signed a Memorandum of Understanding (MOU) with TT dotCom (TTdC), a wholly-owned subsidiary of Time dotCom Berhad (TIME) for the development and construction of a new submarine cable system, called the “Sistem Kabel Rakyat 1 Malaysia (SKR1M)”.
TM was awarded a contract, via an open tender process, by the Malaysian Communications and Multimedia Commission (MCMC) to develop and construct SKR1M cable system. The project will be established through a Public-Private Partnership (PPP) arrangement between MCMC and TM.
According to TM, the company will team up with TIME to jointly deploy the SKR1M cable system with the establishment of the SKR1M Consortium.
“Upon the signing of the MoU and the formation of SKR1M Consortium, the parties shall proceed with the tender exercise to determine the preferred technology partner to supply, deliver and implement SKR1M,” TM said in an announcement to Bursa Malaysia.
During the MOU period, the parties will also develop the principles for the Construction and Maintenance Agreement (“C&MA”). This C&MA is to establish the rules which shall govern the implementation and management of SKR1M.
The term of duration of the MOU is three months or it will expire upon execution of the C&MA, whichever is earlier.