KUALA LUMPUR, Dec 11 (Reuters) - Shares in dominant phone firm Telekom Malaysia (TLMM.KL) opened 4.5 percent higher at 11.70 ringgit ($3.53) on Tuesday, after the company declared a special dividend of 65 Malaysian cents.
The payment, which would be worth more than the entire year’s anticipated regular payout, is part of the company’s plans to split into fixed-line and mobile units early next year.
Telekom wants to unlock value from its rapidly growing mobile business, which spans operations from Southeast Asia to the sub-continent.
The stock was suspended on Monday for the dividend announcement.
Reporting by Liau Y-Sing