Dump expensive legacy broadband plans, iMoney tells Malaysians

A recent study by iMoney suggests that there is a general lack of awareness among Malaysians about the latest broadband rates, resulting in many missing out on the best broadband packages. — AFP pic
A recent study by iMoney suggests that there is a general lack of awareness among Malaysians about the latest broadband rates, resulting in many missing out on the best broadband packages. — AFP pic

KUALA LUMPUR, June 26 — Financial comparison portal iMoney encouraged Malaysians to seek out the best broadband deals after a government policy reduced broadband prices by 30 per cent and quickened speed by tenfold.

It reminded the public to constantly review their broadband plans as a recent survey revealed that more than a quarter of respondents could still be using outdated ‘legacy’ plans that need upgrading by broadband providers.

“Currently, a 100Mbps broadband package costs between RM99 and RM129 per month in Klang Valley while a 30Mbps costs RM89 per month. Yet, the survey revealed that 17 per cent of respondents are paying approximately RM200 per month for only 30Mbps, which is about 125 per cent more in cost,” the study stated.

“All major fibre broadband providers in Malaysia no longer charge more than RM100 for a 30Mbps plan, which means these respondents are likely still on their legacy plans, and have not been upgraded by their providers,” the survey stated.

The survey pointed out that despite being increasingly satisfied with the speed and stability of their broadband packages, 67 per cent of respondents felt that broadband rates can be even more affordable. Also, 82 per cent of the respondents shared that they would switch their current package for one that offers more value for money.

According to iMoney, these results possibly indicate that there is a general lack of awareness among Malaysians of the latest broadband rates, resulting in many missing out on the best broadband packages when they fail to review and compare their broadband contracts to the newest market rates.

“Through our iMoney 2019 Broadband Survey, we can clearly see that MCMC’s (Malaysian Communications and Multimedia Commission) efforts of implementing and enforcing the MSAP (Mandatory Standard on Access Pricing) have been beneficial for consumers,” iMoney group chief executive officer Mitul Lakhani said in a statement.

“The proactive steps taken by key players in the broadband industry have resulted in 66 per cent of Malaysians surveyed being increasingly satisfied with the speed and stability of their broadband connection.

“However, there is still more to do to ensure all Malaysians can benefit from MCMC’s efforts. The next step is for all Malaysians to assess their broadband needs and take advantage of broadband packages currently available, to ensure they are getting better value for their money,” Mitul added.

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