Narrative Update • Jun 29
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Malaysian (KLSE) Telecom Sector Analysis
UpdatedJul 22, 2026
DataAggregated Company Financials
Companies26
- 7D-1.7%
- 3M-0.4%
- 1Y-7.8%
- YTD-8.6%
Over the last 7 days, the Telecom industry has dropped 1.7%, driven by a pullback from Axiata Group Berhad of 4.8%. However, the industry is down 7.8% over the past year. Earnings are forecast to grow by 12% annually.
Sector Valuation and Performance
Has the Malaysian Telecom Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 23 Jul 2026 | RM 124.2b | RM 55.1b | RM 5.6b | 14.6x | 22.1x | 2.3x |
| Sat, 20 Jun 2026 | RM 121.0b | RM 55.1b | RM 5.6b | 14.5x | 21.6x | 2.2x |
| Mon, 18 May 2026 | RM 130.9b | RM 55.2b | RM 5.5b | 16.8x | 23.8x | 2.4x |
| Wed, 15 Apr 2026 | RM 122.9b | RM 55.1b | RM 5.4b | 14.7x | 22.7x | 2.2x |
| Fri, 13 Mar 2026 | RM 131.0b | RM 55.1b | RM 5.4b | 15.3x | 24.2x | 2.4x |
| Sun, 08 Feb 2026 | RM 134.0b | RM 64.5b | RM 5.8b | 13.7x | 23.1x | 2.1x |
| Tue, 06 Jan 2026 | RM 135.9b | RM 64.4b | RM 5.8b | 14.8x | 23.4x | 2.1x |
| Thu, 04 Dec 2025 | RM 135.2b | RM 64.5b | RM 5.8b | 15.9x | 23.2x | 2.1x |
| Sat, 01 Nov 2025 | RM 135.6b | RM 64.5b | RM 6.5b | 14.6x | 20.8x | 2.1x |
| Mon, 29 Sep 2025 | RM 135.7b | RM 64.6b | RM 6.5b | 14.2x | 20.8x | 2.1x |
| Wed, 27 Aug 2025 | RM 135.2b | RM 64.8b | RM 6.7b | 12.7x | 20.3x | 2.1x |
| Fri, 25 Jul 2025 | RM 134.7b | RM 64.7b | RM 6.6b | 10.4x | 20.4x | 2.1x |
| Sun, 22 Jun 2025 | RM 131.1b | RM 64.7b | RM 6.6b | 10x | 19.8x | 2x |
| Tue, 20 May 2025 | RM 133.7b | RM 65.4b | RM 6.5b | 11.5x | 20.5x | 2x |
| Thu, 17 Apr 2025 | RM 123.6b | RM 65.2b | RM 6.4b | 12.7x | 19.2x | 1.9x |
| Sat, 15 Mar 2025 | RM 120.9b | RM 65.3b | RM 6.5b | 12.3x | 18.7x | 1.9x |
| Mon, 10 Feb 2025 | RM 131.0b | RM 66.0b | RM 6.3b | 14.4x | 20.9x | 2x |
| Wed, 08 Jan 2025 | RM 131.1b | RM 66.0b | RM 6.3b | 16.4x | 20.9x | 2x |
| Fri, 06 Dec 2024 | RM 131.2b | RM 66.0b | RM 6.2b | 17.4x | 21.2x | 2x |
| Sun, 03 Nov 2024 | RM 127.6b | RM 66.2b | RM 5.3b | 17.1x | 24.2x | 1.9x |
| Tue, 01 Oct 2024 | RM 136.8b | RM 66.3b | RM 5.2b | 16x | 26.1x | 2.1x |
| Thu, 29 Aug 2024 | RM 136.7b | RM 66.2b | RM 4.9b | 16x | 27.7x | 2.1x |
| Sat, 27 Jul 2024 | RM 134.1b | RM 66.0b | RM 4.8b | 22.7x | 27.9x | 2x |
| Mon, 24 Jun 2024 | RM 134.1b | RM 66.1b | RM 4.8b | 19.4x | 27.9x | 2x |
| Wed, 22 May 2024 | RM 143.6b | RM 65.3b | RM 4.7b | 24x | 30.7x | 2.2x |
| Fri, 19 Apr 2024 | RM 136.6b | RM 65.2b | RM 4.6b | 20.7x | 29.4x | 2.1x |
| Sun, 17 Mar 2024 | RM 145.0b | RM 65.5b | RM 4.7b | 21.4x | 31.1x | 2.2x |
| Tue, 13 Feb 2024 | RM 142.2b | RM 65.3b | RM 214.2m | 20.3x | 663.7x | 2.2x |
| Thu, 11 Jan 2024 | RM 139.8b | RM 65.3b | RM 215.4m | 24.6x | 649.2x | 2.1x |
| Sat, 09 Dec 2023 | RM 133.2b | RM 65.3b | RM 257.9m | 20.9x | 516.4x | 2x |
| Mon, 06 Nov 2023 | RM 137.8b | RM 63.2b | -RM 1,416,786,318.00 | 22.4x | -97.3x | 2.2x |
| Wed, 04 Oct 2023 | RM 139.2b | RM 63.2b | -RM 1,414,189,318.00 | 20.8x | -98.5x | 2.2x |
| Fri, 01 Sep 2023 | RM 139.6b | RM 63.3b | -RM 1,334,047,318.00 | 15.2x | -104.7x | 2.2x |
| Sun, 30 Jul 2023 | RM 142.4b | RM 60.7b | -RM 891,992,201.00 | 15.8x | -159.6x | 2.3x |
Price to Earnings Ratio
-159.6x
Current Industry PE
- Investors are pessimistic on the Malaysian Communication Services industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 22.1x which is lower than its 3-year average PE of 52.3x.
- The industry is trading close to its 3-year average PS ratio of 2.1x.
Past Earnings Growth
- Total earnings for the Communication Services industry have gone up over the last three years and the industry is now profitable.
- Revenues have declined 3.2% per year.
- This means that less sales are being generated overall, but since the cost of doing business is lower, profits have been increasing.
Industry Trends
Which industries have driven the changes within the Malaysian Telecom sector?
| MY Market | 0.28% | |
| Telecom | -1.71% | |
| Media | 1.44% | |
| Entertainment | 0% | 0 |
| Telecom Services and Carriers | -0.22% | |
| Interactive Media and Services | -0.78% | |
| Wireless Telecom | -2.52% | |
Industry PE
- Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 21.5x.
- Analysts are expecting annual earnings decline of 8.2%, which is less than its past year's earnings decline of 17.9%.
- Investors are most pessimistic about the Interactive Media and Services industry, which is trading close to its 3-year average of 8.1x.
Forecasted Growth
- Analysts are most optimistic on the Wireless Telecom industry, expecting annual earnings growth of 14% over the next 5 years.
- This is better than its past earnings decline of 20% per year.
- In contrast, the Media industry is expected to see its earnings decline by 8.2% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| MAXIS Maxis Berhad | RM 3.59 | 1.7% +RM 470.1m | 1.4% | PE17.5x | |
| TM Telekom Malaysia Berhad | RM 7.65 | 0.1% +RM 38.4m | 13.5% | PE18x | |
| FOODIE Foodie Media Berhad | RM 0.35 | 12.7% +RM 35.5m | n/a | PE33.7x | |
| MEDIA Media Prima Berhad | RM 0.29 | 5.4% +RM 16.6m | -18.1% | PE12.1x | |
| OCK OCK Group Berhad | RM 0.38 | 2.7% +RM 10.3m | -11.6% | PE14.6x |