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Malaysian (KLSE) Telecom Sector Analysis

UpdatedDec 16, 2025
DataAggregated Company Financials
Companies25
  • 7D1.3%
  • 3M-0.8%
  • 1Y4.6%
  • YTD3.4%

Over the last 7 days, the Telecom industry has risen 1.3%, driven by gains in Maxis Berhad and Celcomdigi Berhad of 3.4% and 2.5%, respectively. Meanwhile, REDtone Digital Berhad actually underperformed within the industry, shrinking 11% in the last week. This takes the industry's 12 month performance to a gain of 4.6%. Earnings are forecast to grow by 16% annually.

Sector Valuation and Performance

Has the Malaysian Telecom Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 16 Dec 2025RM 137.9bRM 64.4bRM 5.8b15.4x23.8x2.1x
Thu, 13 Nov 2025RM 141.4bRM 64.6bRM 6.6b14.3x21.5x2.2x
Sat, 11 Oct 2025RM 135.3bRM 64.6bRM 6.5b14.4x20.7x2.1x
Mon, 08 Sep 2025RM 133.8bRM 64.7bRM 6.6b13.9x20.4x2.1x
Wed, 06 Aug 2025RM 135.7bRM 64.8bRM 6.6b10x20.5x2.1x
Fri, 04 Jul 2025RM 135.5bRM 64.7bRM 6.6b10.3x20.5x2.1x
Sun, 01 Jun 2025RM 128.9bRM 64.8bRM 6.6b10.3x19.5x2x
Tue, 29 Apr 2025RM 131.1bRM 65.2bRM 6.4b13x20.4x2x
Thu, 27 Mar 2025RM 119.8bRM 65.2bRM 6.4b12.1x18.6x1.8x
Sat, 22 Feb 2025RM 125.4bRM 65.9bRM 6.3b13.1x20x1.9x
Mon, 20 Jan 2025RM 129.9bRM 66.0bRM 6.3b15x20.7x2x
Wed, 18 Dec 2024RM 130.8bRM 66.0bRM 6.3b16.5x20.9x2x
Fri, 15 Nov 2024RM 124.8bRM 66.3bRM 5.3b16x23.4x1.9x
Sun, 13 Oct 2024RM 130.9bRM 66.2bRM 5.3b15.3x24.8x2x
Tue, 10 Sep 2024RM 134.4bRM 66.3bRM 5.2b18.8x25.7x2x
Thu, 08 Aug 2024RM 131.3bRM 66.0bRM 4.8b21.2x27.2x2x
Sat, 06 Jul 2024RM 132.5bRM 66.0bRM 4.8b20.3x27.5x2x
Mon, 03 Jun 2024RM 137.4bRM 66.0bRM 4.7b22.8x29.1x2.1x
Wed, 01 May 2024RM 141.6bRM 65.2bRM 4.6b19.9x30.5x2.2x
Fri, 29 Mar 2024RM 138.0bRM 65.2bRM 4.6b20.7x29.7x2.1x
Sun, 25 Feb 2024RM 143.4bRM 65.5bRM 4.7b21.4x30.7x2.2x
Tue, 23 Jan 2024RM 141.9bRM 65.3bRM 215.4m20.9x658.6x2.2x
Thu, 21 Dec 2023RM 137.2bRM 65.3bRM 215.4m21.9x637x2.1x
Sat, 18 Nov 2023RM 138.9bRM 63.3b-RM 1,449,021,318.0021.9x-95.8x2.2x
Mon, 16 Oct 2023RM 139.3bRM 63.2b-RM 1,414,189,318.0022x-98.5x2.2x
Wed, 13 Sep 2023RM 141.6bRM 63.3b-RM 1,339,289,318.0021.7x-105.7x2.2x
Fri, 11 Aug 2023RM 142.1bRM 60.8b-RM 875,361,364.0015.5x-162.3x2.3x
Sun, 09 Jul 2023RM 135.5bRM 60.7b-RM 894,575,201.0015.1x-151.4x2.2x
Tue, 06 Jun 2023RM 145.8bRM 60.8b-RM 810,513,201.0013.8x-179.9x2.4x
Thu, 04 May 2023RM 151.0bRM 58.5b-RM 1,296,027,420.0014.7x-116.5x2.6x
Sat, 01 Apr 2023RM 145.9bRM 58.5b-RM 1,283,873,420.0014.7x-113.6x2.5x
Mon, 27 Feb 2023RM 146.5bRM 58.7b-RM 1,331,467,463.0014x-110x2.5x
Wed, 25 Jan 2023RM 144.3bRM 63.7bRM 4.0b14.3x36.1x2.3x
Fri, 23 Dec 2022RM 135.8bRM 63.7bRM 4.0b18.6x34x2.1x
Price to Earnings Ratio

34x


Total Market Cap: RM 135.8bTotal Earnings: RM 4.0bTotal Revenue: RM 63.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Malaysian Telecom Sector Price to Earnings3Y Average 31.7x202320242025
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 23.8x which is lower than its 3-year average PE of 31.7x.
  • The industry is trading close to its 3-year average PS ratio of 2.1x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have grown 13% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the Malaysian Telecom sector?

MY Market1.27%
Telecom1.30%
Media3.58%
Interactive Media and Services2.26%
Wireless Telecom1.57%
Telecom Services and Carriers0.61%
Entertainment0%0
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 8.7x.
    • Analysts are expecting annual earnings growth of 23.1%, which is higher than its past year's earnings decline of 26.5% per year.
  • Investors are most pessimistic about the Interactive Media and Services industry, which is trading below its 3-year average of 8.7x.
Forecasted Growth
  • Analysts are most optimistic on the Wireless Telecom industry, expecting annual earnings growth of 23% over the next 5 years.
  • This is better than its past earnings decline of 27% per year.
  • In contrast, the Media industry is expected to see its earnings decline by 35% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
MAXIS Maxis BerhadRM 3.923.4%
+RM 1.0b		9.8%PE20.4x
CDB Celcomdigi BerhadRM 3.312.5%
+RM 938.5m		-8.1%PE29.4x
TM Telekom Malaysia BerhadRM 7.972.2%
+RM 652.4m		20.0%PE13.8x
FOODIE Foodie Media BerhadRM 0.4322.5%
+RM 71.0m		n/aPE41.3x
ASTRO Astro Malaysia Holdings BerhadRM 0.1110.0%
+RM 52.3m		-50.0%PE11.6x

Latest News

PUC
RM 0.02
PUC Berhad
7D
33.3%
1Y
-50.0%
REACHTEN
RM 0.49
Reach Ten Holdings Berhad
7D
6.5%
1Y
n/a
CDB
RM 3.31
Celcomdigi Berhad
7D
2.5%
1Y
-8.1%

Celcomdigi Berhad's (KLSE:CDB) Share Price Matching Investor Opinion

Dec 12
Celcomdigi Berhad's (KLSE:CDB) Share Price Matching Investor Opinion
MAXIS
RM 3.92
Maxis Berhad
7D
3.4%
1Y
9.8%

Subdued Growth No Barrier To Maxis Berhad's (KLSE:MAXIS) Price

Dec 12
Subdued Growth No Barrier To Maxis Berhad's (KLSE:MAXIS) Price
KUCINGKO
RM 0.09
Kucingko Berhad
7D
-5.3%
1Y
-70.5%

A Look At The Intrinsic Value Of Kucingko Berhad (KLSE:KUCINGKO)

Dec 11
A Look At The Intrinsic Value Of Kucingko Berhad (KLSE:KUCINGKO)
ASTRO
RM 0.11
Astro Malaysia Holdings Berhad
7D
10.0%
1Y
-50.0%
TM
RM 7.97
Telekom Malaysia Berhad
7D
2.2%
1Y
20.0%

TM: AI Partnership And Stable Margins Will Shape Customer Experience By 2030

Analysts have modestly raised their price target on Telekom Malaysia Berhad to MYR 7.83 from MYR 7.78. This reflects slightly improved expectations for long term profit margins and earnings multiples, despite an unchanged risk profile.
STAR
RM 0.34
Star Media Group Berhad
7D
-1.4%
1Y
-13.8%
XOX
RM 0.24
XOX Berhad
7D
-2.0%
1Y
-11.1%
REDTONE
RM 0.39
REDtone Digital Berhad
7D
-11.5%
1Y
-57.2%

There May Be Some Bright Spots In REDtone Digital Berhad's (KLSE:REDTONE) Earnings

Nov 28
There May Be Some Bright Spots In REDtone Digital Berhad's (KLSE:REDTONE) Earnings
FOODIE
RM 0.43
Foodie Media Berhad
7D
22.5%
1Y
n/a
INNITY
RM 0.24
Innity Corporation Berhad
7D
-2.0%
1Y
-29.4%
SJC
RM 0.46
Seni Jaya Corporation Berhad
7D
7.1%
1Y
65.5%
OCK
RM 0.39
OCK Group Berhad
7D
-1.3%
1Y
-17.0%