Malaysia's broadband had been keeping up with the demand from customers. — AFP picCYBERJAYA, Feb 13 — Mobile cellular penetration in Malaysia has reached 131.8 per cent while smartphone penetration stood at 70 per cent in the third quarter of last year (3Q17).
Malaysian Communications and Multimedia Commission (MCMC) Chairman Tan Sri Dr Halim Shafie said Malaysia’s broadband had been keeping up with the demand from customers, with broadband penetration currently at 84.5 per cent, as stated in the “3Q 2017 Communications & Multimedia: Facts & Figure” report.
“MCMC has been working tirelessly towards achieving broadband ubiquity and high-level smart phone penetration,” he said prior to a press conference on the Malaysia FinTech Expo 2018 here today.
The text of his speech was read by MCMC Network Security, New Media Monitoring, Compliance and Advocacy Sector Chief Officer Dr Fadhlullah Suhaimi Abdul Malek.
Halim said e-payment would be one of the key factors in ensuring the success of Malaysia’s vision for the digital economy, adding that the outlook for e-payments was very encouraging.
Bank Negara Malaysia (BNM) had said recently that the volume of individual Internet banking transactions had grown more than three-fold, from 141.3 million transactions in 2011 to 435.4 million in 2016.
“This positive growth can be attributed to pricing and market incentive framework implemented by BNM, as well as the continuous awareness programme by the central bank and the banking industry to enhance confidence in the use of internet banking,” he said.
Halim added that banking fraud losses sustained by individuals in Malaysia remained very low at 0.0004 per cent of total transaction volume and 0.0017 per cent of total transaction value in 2016.
“This shows that confidence in e-payments is currently on the rise and more citizens found it to be a safe, secure and convenient way to transact,” Halim said.