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Malaysian (KLSE) Telecom Sector Analysis

UpdatedMar 05, 2026
DataAggregated Company Financials
Companies26
  • 7D-1.9%
  • 3M-4.1%
  • 1Y4.2%
  • YTD-2.9%

Over the last 7 days, the Telecom industry has dropped 1.9%, driven by declines in Celcomdigi Berhad and Telekom Malaysia Berhad of 2.5% and 3.1%, respectively. In the past year, the industry has gained 4.2%. As for the next few years, earnings are expected to grow by 15% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 05 Mar 2026RM 132.0bRM 55.1bRM 5.4b14.1x24.4x2.4x
Sat, 31 Jan 2026RM 134.3bRM 64.5bRM 5.8b14x23.1x2.1x
Mon, 29 Dec 2025RM 136.4bRM 64.4bRM 5.8b14.3x23.5x2.1x
Wed, 26 Nov 2025RM 136.8bRM 64.6bRM 6.7b14.2x20.4x2.1x
Fri, 24 Oct 2025RM 137.0bRM 64.6bRM 6.5b14.6x21x2.1x
Sun, 21 Sep 2025RM 138.5bRM 64.7bRM 6.6b14.5x21.1x2.1x
Tue, 19 Aug 2025RM 137.2bRM 64.8bRM 6.6b10.1x20.7x2.1x
Thu, 17 Jul 2025RM 134.9bRM 64.7bRM 6.6b10x20.4x2.1x
Sat, 14 Jun 2025RM 130.6bRM 64.8bRM 6.6b10x19.7x2x
Mon, 12 May 2025RM 135.6bRM 65.4bRM 6.5b11.4x20.9x2.1x
Wed, 09 Apr 2025RM 120.1bRM 65.2bRM 6.4b12.2x18.7x1.8x
Fri, 07 Mar 2025RM 126.0bRM 65.3bRM 6.5b12.3x19.5x1.9x
Sun, 02 Feb 2025RM 129.7bRM 66.0bRM 6.3b14.4x20.7x2x
Tue, 31 Dec 2024RM 132.7bRM 66.0bRM 6.3b16.9x21.2x2x
Thu, 28 Nov 2024RM 129.0bRM 66.2bRM 5.2b17.5x24.6x1.9x
Sat, 26 Oct 2024RM 129.3bRM 66.2bRM 5.3b15.9x24.5x2x
Mon, 23 Sep 2024RM 135.9bRM 66.3bRM 5.2b16.2x26x2.1x
Wed, 21 Aug 2024RM 132.2bRM 66.0bRM 4.9b21.2x27.1x2x
Fri, 19 Jul 2024RM 137.8bRM 66.0bRM 4.8b20.7x28.6x2.1x
Sun, 16 Jun 2024RM 137.4bRM 66.1bRM 4.8b20.3x28.5x2.1x
Tue, 14 May 2024RM 140.4bRM 65.2bRM 4.6b22.9x30.3x2.2x
Thu, 11 Apr 2024RM 139.0bRM 65.2bRM 4.6b21.1x30x2.1x
Sat, 09 Mar 2024RM 139.7bRM 65.5bRM 4.7b21.8x29.9x2.1x
Mon, 05 Feb 2024RM 141.9bRM 65.3bRM 214.2m20.9x662.6x2.2x
Wed, 03 Jan 2024RM 136.3bRM 65.3bRM 215.4m23.5x632.5x2.1x
Fri, 01 Dec 2023RM 136.7bRM 65.3bRM 247.2m20.3x552.9x2.1x
Sun, 29 Oct 2023RM 135.4bRM 63.2b-RM 1,417,561,318.0020.9x-95.5x2.1x
Tue, 26 Sep 2023RM 140.4bRM 63.3b-RM 1,339,289,318.0020.9x-104.8x2.2x
Thu, 24 Aug 2023RM 141.1bRM 62.4b-RM 856,382,364.0015.5x-164.8x2.3x
Sat, 22 Jul 2023RM 140.6bRM 60.7b-RM 894,575,201.0015.4x-157.2x2.3x
Mon, 19 Jun 2023RM 145.1bRM 60.8b-RM 810,475,201.0013.4x-179x2.4x
Wed, 17 May 2023RM 148.8bRM 58.5b-RM 1,296,713,057.0014x-114.8x2.5x
Fri, 14 Apr 2023RM 147.1bRM 58.5b-RM 1,283,873,420.0015.4x-114.5x2.5x
Sun, 12 Mar 2023RM 143.5bRM 58.5b-RM 1,211,995,420.0015.8x-118.4x2.5x
Price to Earnings Ratio

-118.4x


Total Market Cap: RM 143.5bTotal 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 32.1x202420252026
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 24.4x which is lower than its 3-year average PE of 32.1x.
  • 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 remained mostly flat. This means that the industry has become more efficient since profits are increasing while sales have been flat.

Industry Trends

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

MY Market-3.11%
Telecom-1.91%
Entertainment0%0
Wireless Telecom-1.75%
Telecom Services and Carriers-2.04%
Interactive Media and Services-3.83%
Media-6.31%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 7.9x.
    • Analysts are expecting annual earnings growth of 18.8%, which is higher than its past year's earnings decline of 18.5% 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 17% 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
TM Telekom Malaysia BerhadRM 7.601.9%
+RM 537.3m		12.1%PE17x
AXIATA Axiata Group BerhadRM 2.320.4%
+RM 91.9m		21.5%PE417.3x
TIMECOM TIME dotCom BerhadRM 6.180.3%
+RM 37.0m		18.8%PE26.7x
MEDIA Media Prima BerhadRM 0.303.4%
+RM 11.1m		-34.1%PE12.7x

Latest News

ASTRO
RM 0.07
Astro Malaysia Holdings Berhad
7D
-6.7%
1Y
-63.2%
SBS
RM 0.13
SBS Nexus Berhad
7D
-19.4%
1Y
n/a
MAXIS
RM 3.85
Maxis Berhad
7D
-1.8%
1Y
12.9%
TIMECOM
RM 6.13
TIME dotCom Berhad
7D
0.8%
1Y
17.9%
TM
RM 7.51
Telekom Malaysia Berhad
7D
-3.1%
1Y
10.4%
AXIATA
RM 2.31
Axiata Group Berhad
7D
-0.4%
1Y
20.9%
CDB
RM 3.17
Celcomdigi Berhad
7D
-2.5%
1Y
-11.7%

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).
REDTONE
RM 0.33
REDtone Digital Berhad
7D
-5.8%
1Y
-42.0%
FOODIE
RM 0.39
Foodie Media Berhad
7D
-7.2%
1Y
n/a