KUALA LUMPUR (May 20): Telekom Malaysia Bhd (KL:TM) said three former employees at its US subsidiary, Telekom Malaysia (USA) Inc, who were charged by the US Department of Justice (DOJ) over an alleged fraud scheme involving about US$20 million (RM79.5 million), had been dismissed in February for breaches of integrity and business ethics.
In a filing with Bursa Malaysia on Wednesday, TM said the employees were terminated on Feb 14 following an internal investigation launched in December 2025 after preliminary findings pointed to suspected misconduct.
The individuals — identified by the DOJ as Mohd Hafiz Lockman, Mohd Yuzaimi Yusof and Khanh Thuong Nguyen — were charged under US law with wire fraud conspiracy, wire fraud and aggravated identity theft.
According to TM, the charges relate to alleged schemes involving fabricated work expenses, false representations and irregular hiring practices.
The telecommunications company said its current assessment showed no material disruption to group operations, including TM USA’s business activities, and no significant impact on the group’s financial position.
TM added that it had implemented immediate mitigation measures, including strengthening internal controls and governance processes to reduce the risk of recurrence.
The group also said it had engaged external legal counsel and forensic specialists, and referred the matter to relevant US authorities. TM added that it would continue to cooperate fully with investigators.
“TM remains committed to maintaining high standards of corporate governance, integrity and compliance, and does not tolerate any form of misconduct,” the group said.
TM shares fell seven sen or 0.9% to close at RM7.43 on Wednesday, valuing the company at about RM28.5 billion. The stock is down 6.3% year to date.