“While we cannot stop TM from appealing, the decision made by DNB to terminate the SSA stands.

“TM had asked for an extension, which was granted. However, it was unable to comply within the extended period, so the SSA between the two was terminated,” he said at a press conference here.

Last week, TM received a notice from DNB terminating the SSA signed on Dec 1, 2023, for TM’s stake in DNB.

TM’s request and appeal for another extension was to enable it to obtain shareholders’ approval at an extraordinary general meeting as the SSA was a related-party transaction.

Meanwhile, Gobind said Malaysian seaport operators needed to invest in digital and 5G technologies to remain competitive.

He said the digitalisation of seaports added value to the logistics and supply chain ecosystem.

“One clear example is that more players can move up the value chain with the integration of digital solutions.

“The digitalisation of seaports will lower the entry barriers for Malaysians to trade online and across borders. This will make it easier for business owners and homemakers, who contribute to the family’s household income by participating in e-commerce,” he added.