Telekom Malaysia Bhd (TM) has secured a five-year contract worth RM41 million from Commerce International Merchant Bankers Bhd (CIMB) and Bumiputra-Commerce Bank Bhd (BCB) to provide the banking group with a managed network solution- Internet Protocol Virtual Network (IPVPN). CIMB and BCB will utilise the network solution called TM IPVPN Premier to further improve its operational efficiency at the group's head office and branches nationwide. TM IPVPN Premier is an Internet protocol-based network infrastructure that is able to prioritise traffic according to the application’s importance using advanced multi-protocol label switching (MPLS) technology. “The current contact we signed with TM first and foremost is on our domestic operations for our 289 branches (by year-end),” CIMB group chief executive Datuk Nazir Razak told reporters after the signing ceremony with TM in Kuala Lumpur on May 11.
“The next step is to incorporate our international branches on the technology and a step after that is to incorporate the entire Southern Bank Bhd network,” he added.
TM’s subsidiary VADS Bhd has been tasked to provide technical expertise including network solutions, project management and proactive network monitoring for this contract. Nazir said the deal was for the first stage but the group was looking to extend this agreement with TM subject to pricing. “We also have an agreement with TM to make sure services are up 99.8% of the time and this new technology is looking between five and 10 years ahead in anticipation of consumer demand at that time,” he said. Nazir said the technology would only emerge when the new CIMB Bank branches were launched in the second half of this year. TM CEO Datuk Abdul Wahid Omar said the IPVPN service contribution to TM’s revenue was still low. However expects, over time, the proportion of revenue from this service will increase.-theedgedaily
TM Group CEO Datuk Abdul Wahid Omar (left) exchanging documents with CIMB group chief executive Datuk Nazir Razak; witnessed by Second Finance Minister Tan Sri Nor Mohamed Yakcop
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