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Malaysian (KLSE) Telecom Sector Analysis

UpdatedApr 02, 2026
DataAggregated Company Financials
Companies26
  • 7D-2.2%
  • 3M-7.6%
  • 1Y0.3%
  • YTD-8.0%

Over the last 7 days, the Telecom industry has dropped 2.2%, driven by pullbacks in Maxis Berhad and Telekom Malaysia Berhad of 2.8% and 2.7%, respectively. Meanwhile, PUC Berhad actually outperformed within the industry, gaining 50% in the last week. As for the longer term, the industry's performance has been flat for the past year. Looking forward, 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
Thu, 02 Apr 2026RM 125.0bRM 55.1bRM 5.4b14.6x23.1x2.3x
Sat, 28 Feb 2026RM 132.0bRM 55.1bRM 5.4b14.5x24.5x2.4x
Mon, 26 Jan 2026RM 137.8bRM 64.5bRM 5.8b13.8x23.7x2.1x
Wed, 24 Dec 2025RM 137.1bRM 64.4bRM 5.8b14.4x23.7x2.1x
Fri, 21 Nov 2025RM 137.2bRM 64.5bRM 6.5b15.4x21.2x2.1x
Sun, 19 Oct 2025RM 138.2bRM 64.6bRM 6.5b14.2x21.1x2.1x
Tue, 16 Sep 2025RM 138.6bRM 64.7bRM 6.6b14.5x21.1x2.1x
Thu, 14 Aug 2025RM 138.3bRM 64.8bRM 6.6b10.1x20.9x2.1x
Sat, 12 Jul 2025RM 133.4bRM 64.7bRM 6.6b10x20.2x2.1x
Mon, 09 Jun 2025RM 131.1bRM 64.8bRM 6.6b10x19.8x2x
Wed, 07 May 2025RM 132.4bRM 65.4bRM 6.5b11.7x20.4x2x
Fri, 04 Apr 2025RM 123.9bRM 65.2bRM 6.4b12.5x19.3x1.9x
Sun, 02 Mar 2025RM 129.2bRM 65.3bRM 6.5b12.7x20x2x
Tue, 28 Jan 2025RM 130.9bRM 66.0bRM 6.3b14.4x20.9x2x
Thu, 26 Dec 2024RM 130.7bRM 66.0bRM 6.3b16.4x20.8x2x
Sat, 23 Nov 2024RM 128.2bRM 66.4bRM 5.3b15.2x24.1x1.9x
Mon, 21 Oct 2024RM 132.2bRM 66.2bRM 5.3b15.6x25.1x2x
Wed, 18 Sep 2024RM 136.5bRM 66.3bRM 5.2b16.3x26.1x2.1x
Fri, 16 Aug 2024RM 133.9bRM 66.0bRM 4.8b22x27.8x2x
Sun, 14 Jul 2024RM 133.5bRM 66.0bRM 4.8b21.3x27.7x2x
Tue, 11 Jun 2024RM 138.0bRM 66.1bRM 4.8b20.2x28.7x2.1x
Thu, 09 May 2024RM 141.6bRM 65.2bRM 4.6b23.5x30.5x2.2x
Sat, 06 Apr 2024RM 140.1bRM 65.2bRM 4.6b20x30.2x2.1x
Mon, 04 Mar 2024RM 142.4bRM 65.5bRM 4.7b20.6x30.5x2.2x
Wed, 31 Jan 2024RM 141.6bRM 65.3bRM 215.4m20.9x657.5x2.2x
Fri, 29 Dec 2023RM 137.1bRM 65.3bRM 215.4m23.7x636.6x2.1x
Sun, 26 Nov 2023RM 136.9bRM 64.8b-RM 982,852,318.0022.8x-139.3x2.1x
Tue, 24 Oct 2023RM 136.3bRM 63.2b-RM 1,414,189,318.0020.9x-96.4x2.2x
Thu, 21 Sep 2023RM 141.3bRM 63.3b-RM 1,339,289,318.0020.9x-105.5x2.2x
Sat, 19 Aug 2023RM 140.9bRM 60.8b-RM 875,361,364.0015.8x-161x2.3x
Mon, 17 Jul 2023RM 139.7bRM 60.7b-RM 894,575,201.0015.8x-156.2x2.3x
Wed, 14 Jun 2023RM 141.4bRM 60.8b-RM 810,513,201.0013.5x-174.4x2.3x
Fri, 12 May 2023RM 150.5bRM 58.5b-RM 1,296,930,420.0014.4x-116x2.6x
Sun, 09 Apr 2023RM 146.5bRM 58.5b-RM 1,283,873,420.0015.4x-114.1x2.5x
Price to Earnings Ratio

-114.1x


Total Market Cap: RM 146.5bTotal Earnings: -RM 1,283,873,420.00Total Revenue: RM 58.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Malaysian Telecom Sector Price to Earnings3Y Average 35.7x202420252026
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 23.1x which is lower than its 3-year average PE of 35.7x.
  • 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 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 Market0.13%
Telecom-2.22%
Entertainment0%0
Media-1.37%
Wireless Telecom-2.13%
Telecom Services and Carriers-2.44%
Interactive Media and Services-3.73%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 9.5x.
    • 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 8.4x.
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 29% 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
PUC PUC BerhadRM 0.01550.0%
+RM 15.2m		-62.5%PS0.6x
NOVATECH Nova Technology Services BerhadRM 0.03516.7%
+RM 4.5m		-36.4%PE6.4x
XOX XOX BerhadRM 0.1712.9%
+RM 3.7m		-64.6%PS0.1x
SJC Seni Jaya Corporation BerhadRM 0.531.9%
+RM 2.1m		75.0%PE10.7x
INNITY Innity Corporation BerhadRM 0.134.2%
+RM 697.0k		-63.8%PS0.2x

Latest News

AXIATA
RM 2.23
Axiata Group Berhad
7D
-2.2%
1Y
23.2%
ASTRO
RM 0.075
Astro Malaysia Holdings Berhad
7D
-6.3%
1Y
-57.1%
TM
RM 7.12
Telekom Malaysia Berhad
7D
-2.7%
1Y
8.0%

TM: 5G Network Shift And Dividends Will Support Steady Long Term Outlook

Analysts have made a small upward adjustment to Telekom Malaysia Berhad's fair value estimate, moving it from MYR7.96 to MYR7.97, reflecting slightly updated assumptions around long term growth, margins and future P/E levels. What's in the News TM plans to enter a new 5G Multi-Operator Core Network arrangement with U Mobile, aligning its mobile services with its broader convergence ambitions across consumer, SME and enterprise segments (Key Developments).
PUC
RM 0.015
PUC Berhad
7D
50.0%
1Y
-62.5%
NOVATECH
RM 0.035
Nova Technology Services Berhad
7D
16.7%
1Y
-36.4%
CDB
RM 3.02
Celcomdigi Berhad
7D
-1.6%
1Y
-16.6%

CDB: New CEO Appointment And Digital Platform Integration Will Support Future Upside

Analysts have slightly reduced their fair value estimate for Celcomdigi Berhad to MYR4.92 from MYR4.93, reflecting updated assumptions around revenue growth, profit margins and future P/E levels. What's in the News Celcomdigi issued earnings guidance for fiscal 2026, indicating expectations for EBIT to record low single digit growth.
SJC
RM 0.53
Seni Jaya Corporation Berhad
7D
1.9%
1Y
75.0%
INNITY
RM 0.13
Innity Corporation Berhad
7D
4.2%
1Y
-63.8%
CATCHA
RM 0.23
Catcha Digital Berhad
7D
-9.8%
1Y
-25.8%
MAXIS
RM 3.53
Maxis Berhad
7D
-2.8%
1Y
3.5%
TIMECOM
RM 5.92
TIME dotCom Berhad
7D
-1.8%
1Y
18.6%
STAR
RM 0.31
Star Media Group Berhad
7D
-3.1%
1Y
-27.9%
XOX
RM 0.17
XOX Berhad
7D
12.9%
1Y
-64.6%