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Malaysian (KLSE) Telecom Sector Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies26
  • 7D-2.1%
  • 3M-3.5%
  • 1Y1.5%
  • YTD-2.8%

Over the last 7 days, the Telecom industry has dropped 2.1%, driven by Telekom Malaysia Berhad declining 9.2%. Over the last year, the industry has been flat overall. Earnings are forecast to grow by 15% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 02 Mar 2026RM 132.0bRM 55.1bRM 5.4b14.5x24.5x2.4x
Wed, 28 Jan 2026RM 136.6bRM 64.5bRM 5.8b14.1x23.5x2.1x
Fri, 26 Dec 2025RM 136.6bRM 64.4bRM 5.8b14.4x23.6x2.1x
Sun, 23 Nov 2025RM 137.4bRM 64.5bRM 6.5b15.5x21.2x2.1x
Tue, 21 Oct 2025RM 138.2bRM 64.6bRM 6.5b14.2x21.1x2.1x
Thu, 18 Sep 2025RM 137.2bRM 64.7bRM 6.6b14.1x20.9x2.1x
Sat, 16 Aug 2025RM 136.5bRM 64.8bRM 6.6b10x20.6x2.1x
Mon, 14 Jul 2025RM 135.5bRM 64.7bRM 6.6b10x20.5x2.1x
Wed, 11 Jun 2025RM 130.9bRM 64.8bRM 6.6b10.3x19.8x2x
Fri, 09 May 2025RM 135.0bRM 65.4bRM 6.5b11.7x20.8x2.1x
Sun, 06 Apr 2025RM 123.7bRM 65.2bRM 6.4b12.6x19.2x1.9x
Tue, 04 Mar 2025RM 127.6bRM 65.3bRM 6.5b12.8x19.7x2x
Thu, 30 Jan 2025RM 129.3bRM 66.0bRM 6.3b14.3x20.6x2x
Sat, 28 Dec 2024RM 131.7bRM 66.0bRM 6.3b16.8x21x2x
Mon, 25 Nov 2024RM 128.2bRM 66.4bRM 5.3b15.9x24.1x1.9x
Wed, 23 Oct 2024RM 133.3bRM 66.2bRM 5.3b15.8x25.3x2x
Fri, 20 Sep 2024RM 138.4bRM 66.3bRM 5.2b16.4x26.4x2.1x
Sun, 18 Aug 2024RM 133.8bRM 66.0bRM 4.9b22x27.4x2x
Tue, 16 Jul 2024RM 135.6bRM 66.0bRM 4.8b21.6x28.2x2.1x
Thu, 13 Jun 2024RM 139.3bRM 66.1bRM 4.8b20.3x28.9x2.1x
Sat, 11 May 2024RM 140.5bRM 65.2bRM 4.6b22.8x30.3x2.2x
Mon, 08 Apr 2024RM 140.1bRM 65.2bRM 4.6b20x30.2x2.1x
Wed, 06 Mar 2024RM 140.9bRM 65.5bRM 4.7b20.6x30.2x2.2x
Fri, 02 Feb 2024RM 142.5bRM 65.3bRM 213.1m20.3x668.8x2.2x
Sun, 31 Dec 2023RM 136.2bRM 65.3bRM 215.4m23.2x632.1x2.1x
Tue, 28 Nov 2023RM 135.7bRM 64.8b-RM 982,852,318.0023.7x-138.1x2.1x
Thu, 26 Oct 2023RM 137.0bRM 63.2b-RM 1,417,561,318.0020.9x-96.6x2.2x
Sat, 23 Sep 2023RM 141.8bRM 63.3b-RM 1,339,289,318.0020.9x-105.9x2.2x
Mon, 21 Aug 2023RM 140.9bRM 62.4b-RM 855,361,364.0015.8x-164.8x2.3x
Wed, 19 Jul 2023RM 138.6bRM 60.7b-RM 894,575,201.0015.8x-155x2.3x
Fri, 16 Jun 2023RM 141.7bRM 60.8b-RM 810,475,201.0013.4x-174.8x2.3x
Sun, 14 May 2023RM 150.5bRM 58.5b-RM 1,296,713,057.0014x-116.1x2.6x
Tue, 11 Apr 2023RM 146.5bRM 58.5b-RM 1,283,873,420.0015.7x-114.1x2.5x
Thu, 09 Mar 2023RM 145.8bRM 58.5b-RM 1,211,995,420.0015.4x-120.3x2.5x
Price to Earnings Ratio

-120.3x


Total Market Cap: RM 145.8bTotal Earnings: -RM 1,211,995,420.00Total Revenue: RM 58.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Malaysian Telecom Sector Price to Earnings3Y Average 31.7x202420252026
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 24.5x which is lower than its 3-year average PE of 31.7x.
  • The 3-year average PS ratio of 2.1x is lower than the industry's current PS ratio of 2.4x.
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 2.0% 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-1.67%
Telecom-2.08%
Entertainment0%0
Wireless Telecom-0.49%
Interactive Media and Services-1.19%
Telecom Services and Carriers-5.19%
Media-6.32%
Industry PE
  • Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 20.5x.
    • Analysts are expecting annual earnings decline of 13.0%, which is lower than the prior year's growth of 13.2% per year.
  • Investors are most pessimistic about the Interactive Media and Services industry, which is trading below its 3-year average of 8.5x.
Forecasted Growth
  • Analysts are most optimistic on the Wireless Telecom industry, expecting annual earnings growth of 19% over the next 5 years.
  • This is better than its past earnings decline of 19% per year.
  • In contrast, the Media industry is expected to see its earnings decline by 13% 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
TIMECOM TIME dotCom BerhadRM 6.170.8%
+RM 92.4m		19.3%PE26.6x
STAR Star Media Group BerhadRM 0.343.1%
+RM 7.2m		-14.1%PS1.2x
SASBADI Sasbadi Holdings BerhadRM 0.176.5%
+RM 4.3m		-2.9%PE6.4x
WATTA Watta Holding BerhadRM 0.371.4%
+RM 422.4k		-2.6%PS6.9x

Latest News

PUC
RM 0.015
PUC Berhad
7D
-25.0%
1Y
-62.5%
MAXIS
RM 3.85
Maxis Berhad
7D
-2.5%
1Y
11.6%
TIMECOM
RM 6.17
TIME dotCom Berhad
7D
0.8%
1Y
19.3%
TM
RM 7.47
Telekom Malaysia Berhad
7D
-9.2%
1Y
10.3%
AXIATA
RM 2.27
Axiata Group Berhad
7D
-1.3%
1Y
13.5%
STAR
RM 0.34
Star Media Group Berhad
7D
3.1%
1Y
-14.1%
SASBADI
RM 0.17
Sasbadi Holdings Berhad
7D
6.5%
1Y
-2.9%
CDB
RM 3.16
Celcomdigi Berhad
7D
-3.4%
1Y
-13.4%

CDB: Long Dated Spectrum And New CEO Will Support Future Upside

Analysts have trimmed their price target for Celcomdigi Berhad to MYR4.93 from MYR5.12 as they factor in updated assumptions for revenue growth, profit margins, and a slightly lower future P/E multiple. What's in the News Company issues earnings guidance for fiscal 2026, indicating expectations for low single digit EBIT growth for the year (Corporate guidance).
ASTRO
RM 0.075
Astro Malaysia Holdings Berhad
7D
-11.8%
1Y
-63.4%
REDTONE
RM 0.33
REDtone Digital Berhad
7D
-7.1%
1Y
-44.0%
FOODIE
RM 0.39
Foodie Media Berhad
7D
-10.3%
1Y
n/a
WATTA
RM 0.37
Watta Holding Berhad
7D
1.4%
1Y
-2.6%