Abstract: The telecommunication sector in Malaysia has grown significantly over the last few decades. Regulatory reforms and market liberalization have contributed to greater competition and structural reforms in this dynamic industry. As such, it is of no surprise that the incumbent national telecommunication company, Telekom Malaysia (TM) also underwent massive changes that included changes in ownership and business portfolios. In terms of its economic and business performance, this paper found efficiency gains and superior cost management in the case of the national telecommunication company’s post-privatization years. In addition, the company also recorded higher labour productivity and improved service quality.