The Internet has been a part of our lives for just over five decades, but it has seen so much evolution in its development that it is astonishing to see where we are now with the digital world. People are constantly on the internet nowadays doing numerous things. From online shopping, online reading, bank transactions and many more. It is an endless world of possibilities when it comes to the internet. Although back then, people tended to be more cautious with using the internet, the internet now
has lots of security measures that can prevent any unwanted risks. This is the reason people are more trusting of the internet now and to further make the internet more convenient and efficient, there has been a development of high-speed internet around the world, including Malaysia. It is said to be the future of the internet as people would be able to experience the pleasure the internet brings within a faster speed. Malaysia too has been a part of this development and is currently making positive progress towards achieving its goals.
Some of the goals set were to make the internet more accessible to everyone with a higher number of competitions and better quality services. This could expand the benefits of the digital economy so that the country’s economic growth can come from many other platforms. In an analysis by the World Bank, Malaysia have experienced quite a lag in internet speed the past few years which resulted in an increase of demand for faster internet by majority of consumers. One of the causes of this lag is due to the low competition in the broadband market where one company holds the majority, 90%, of market share as of the end of 2017. It is somewhat unexpected considering that Malaysia holds the most concentrated fixed broadband market in Asia Pacific for a country that has more than 10 million for its population. When there is no competition, there will be a limit in the number of alternative internet service providers that offer other networks or services out of the competition.
Before this, the internet was not very much accessible to the people because of its price but in the development of high-speed internet, one of the issues addressed was the issue of price. Then the country’s telecommunications regulator introduced the Mandatory Standard on Access Pricing (MSAP) and fortunately with the MSAP available, it allows internet service providers to offer broadband subscription plans with faster internet speed at a lower price than normal. It helped in providing the people with a higher quality service with a lower price. Now in 2020, it has become the norm for basic plans to have at least 30 Mbps internet speed with average price lower than previous ones before the reform. Not only that, the average price for plans that provide the speeds in excess of 1 Gbps, which is the developing speed target for high-income economies) decreases by about 40%. The price drop is a pattern for all plan types offered by the now increasing number of alternate internet service providers across Malaysia. Thus, now high-speed internet is much more accessible for the people and Malaysia is starting to close the gap with other leading countries when it comes to the internet speed. From Malaysia’s experience, it shows that policy reforms can make a big impact on the market outcomes. Through implementation of rules, Malaysia has boosted the competition which has a positive effect on the amount of subscriptions and the affordability. This shows the potential gains one can achieve from organized development.
So, if you are still stuck with your old internet that moves like a snail, what more are you waiting for?
Go get your well-deserved high-speed internet now at Time Fibre Malaysia.
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