May 19 (LBO) – Dialog Telekom, a unit of Telekom Malaysia, Friday kicked off a 150 million dollars expansion drive to grow its mobile and broadband business in Sri Lanka. For the three months to March 31, Dialog’s net profits soared 39 percent to 2.39 billion rupees, while revenues jumped 55 percent to 5.95 billion rupees on expanding international business and booming subscriber growth. Sri Lanka’s biggest mobile operator said the two-year investment plan will also cover expansion into wireless local loop, fixed telephony and international gateway infrastructures, Dialog said following the signing ceremony with the island’s Board of Investments.
“A significant potion of this investment would towards the deployment of fibre optic backbone, broadband and fixed telephony infrastructure sectors through Dialog Telekom are fully owned subsidiary Dialog Broadband Networks (Pvt) Ltd.”
“Telekom Malaysia sees Sri Lanka as a key growth centre in the Asian region and considers the country to be one of our best success stories outside Malaysia,” Dialog’s Chairman Tan Sri Dato’ Ir Muhammad Radzi bin Haji Manso said.
Friday’s announcement raises Dialog’s total investment