Telekom Malaysia CEO Mohammed Shazalli Ramly to Resign

A woman uses a Telekom Malaysia Bhd. public pay phone in Kuala Lumpur, Malaysia, on Saturday, Dec. 8, 2007. Telekom Malaysia Bhd., Southeast Asia's second-largest phone company, plans to keep control of its wireless business after selling part of the unit, dimming the appeal for potential suitors such as Orascom Telecom Holding SAE. Photographer: GOH SENG CHONG

Mohammed Shazalli Ramly has resigned as group chief executive officer of state-linked Telekom Malaysia Bhd., according to people with knowledge of the matter.

The Kuala Lumpur-based carrier could announce Shazalli’s resignation as soon as the next few days, the people said, asking not to be identified because the information is private. Shazalli, who was previously Axiata Group Bhd.’s regional CEO for its Southeast Asia operations, joined Telekom Malaysia last year.

Shares of Telekom Malaysia have fallen about 43 percent over the past 12 months, giving it a market value of $3.5 billion. The carrier reported last month that its first-quarter net income fell 32 percent to 157.2 million ringgit ($39.6 million).

Malaysian sovereign wealth fund Khazanah Nasional Bhd. owns about 26 percent of the company, according to data compiled by Bloomberg.

A representative for Telekom Malaysia didn’t immediately respond to a request for comment. Shazalli didn’t immediately answer several calls and text messages to his mobile phone seeking comment.

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