Malaysia-based CelcomDigi highlighted it made more than MYR300 million ($62.5 million) in cost savings in 2023, completing 35 per cent of a network integration and modernisation target 14 months after a merger.

The operator forecast low-single-digit growth in service revenue this year.

CEO Idham Nawawi said the company made significant progress integrating many business areas “with minimal disruption to customer experience” in 2023.

“We began 2024 with good growth momentum and are optimistic that we will further unlock synergies and benefits envisioned from the merger.”

By end 2023 it had modernised 5,600 sites and recorded an improvement in download data rates in areas where infrastructure was consolidated of between 20 per cent and 26 per cent.

CelcomDigi estimated integration costs in 2023 at about MYR200 million and predicts network related savings from the merger over the next three years will total about MYR5.5 billion.

Full-year capex was up 6.1 per cent to MRY1.8 billion.

Net profit in Q4 2023 dropped 13.4 per cent year-on-year to MYR439 million, with revenue flat at MRY3.3 billion and the service figure likewise at MYR2.7 billion. 

Post-paid subscribers rose 3.9 per cent to 6.9 million and prepaid 1.3 per cent to 13.5 million: ARPU fell 8.6 per cent to MYR66 and 3.4 per cent to MYR28, respectively.