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Malaysian (KLSE) Telecom Sector Analysis

UpdatedApr 22, 2026
DataAggregated Company Financials
Companies26
  • 7D1.7%
  • 3M-8.8%
  • 1Y-2.5%
  • YTD-8.0%

Over the last 7 days, the Telecom industry has risen 1.7%, driven by gains from Celcomdigi Berhad of 1.4%. Despite this gain, the industry's performance has been flat over the past year. As for the next few years, earnings are expected to grow by 14% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 23 Apr 2026RM 125.1bRM 55.1bRM 5.4b14.9x23.1x2.3x
Sat, 21 Mar 2026RM 128.9bRM 55.1bRM 5.4b14.9x23.8x2.3x
Mon, 16 Feb 2026RM 133.8bRM 64.7bRM 6.1b14.2x22.1x2.1x
Wed, 14 Jan 2026RM 138.4bRM 64.4bRM 5.8b14.6x23.9x2.1x
Fri, 12 Dec 2025RM 137.2bRM 64.4bRM 5.8b15.7x23.7x2.1x
Sun, 09 Nov 2025RM 138.6bRM 64.6bRM 6.6b14.3x21.1x2.1x
Tue, 07 Oct 2025RM 137.4bRM 64.6bRM 6.5b14.3x21x2.1x
Thu, 04 Sep 2025RM 134.0bRM 64.7bRM 6.6b14.7x20.4x2.1x
Sat, 02 Aug 2025RM 135.4bRM 64.8bRM 6.6b10x20.4x2.1x
Mon, 30 Jun 2025RM 132.9bRM 64.7bRM 6.6b10x20.1x2.1x
Wed, 28 May 2025RM 132.1bRM 65.4bRM 6.5b11.6x20.2x2x
Fri, 25 Apr 2025RM 130.3bRM 65.2bRM 6.4b13x20.3x2x
Sun, 23 Mar 2025RM 116.4bRM 65.3bRM 6.5b12.2x18x1.8x
Tue, 18 Feb 2025RM 125.9bRM 65.9bRM 6.0b13.6x21x1.9x
Thu, 16 Jan 2025RM 129.9bRM 66.0bRM 6.3b15.4x20.7x2x
Sat, 14 Dec 2024RM 129.9bRM 66.0bRM 6.3b16.7x20.7x2x
Mon, 11 Nov 2024RM 126.4bRM 66.3bRM 5.3b16.8x23.7x1.9x
Wed, 09 Oct 2024RM 131.6bRM 66.2bRM 5.3b15.8x25x2x
Fri, 06 Sep 2024RM 136.3bRM 66.2bRM 5.3b17.1x25.9x2.1x
Sun, 04 Aug 2024RM 133.4bRM 66.0bRM 4.8b22.5x27.7x2x
Tue, 02 Jul 2024RM 136.1bRM 66.0bRM 4.8b18.8x28.3x2.1x
Thu, 30 May 2024RM 138.1bRM 65.3bRM 4.7b22.3x29.2x2.1x
Sat, 27 Apr 2024RM 140.3bRM 65.2bRM 4.6b19.9x30.2x2.1x
Mon, 25 Mar 2024RM 142.5bRM 65.2bRM 4.7b21.4x30.6x2.2x
Wed, 21 Feb 2024RM 146.0bRM 65.3bRM 214.2m20.3x681.7x2.2x
Fri, 19 Jan 2024RM 139.4bRM 65.3bRM 215.4m20.6x647x2.1x
Sun, 17 Dec 2023RM 135.8bRM 65.3bRM 215.4m22.8x630.3x2.1x
Tue, 14 Nov 2023RM 138.2bRM 63.3b-RM 1,437,786,318.0021.7x-96.1x2.2x
Thu, 12 Oct 2023RM 137.9bRM 63.2b-RM 1,414,189,318.0020.9x-97.5x2.2x
Sat, 09 Sep 2023RM 141.8bRM 63.3b-RM 1,339,289,318.0021.7x-105.9x2.2x
Mon, 07 Aug 2023RM 142.0bRM 60.7b-RM 892,353,640.0015.2x-159.1x2.3x
Wed, 05 Jul 2023RM 139.7bRM 60.7b-RM 894,575,201.0016.3x-156.2x2.3x
Fri, 02 Jun 2023RM 145.4bRM 60.8b-RM 817,703,201.0015x-177.8x2.4x
Sun, 30 Apr 2023RM 148.9bRM 58.5b-RM 1,296,027,420.0014.7x-114.9x2.5x
Price to Earnings Ratio

-114.9x


Total Market Cap: RM 148.9bTotal Earnings: -RM 1,296,027,420.00Total Revenue: RM 58.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Malaysian Telecom Sector Price to Earnings3Y Average 38.3x202420252026
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 38.2x.
  • 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 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 Market1.59%
Telecom1.73%
Media5.60%
Interactive Media and Services4.71%
Telecom Services and Carriers2.42%
Wireless Telecom1.32%
Entertainment0%0
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 10.6x.
    • Analysts are expecting annual earnings growth of 18.3%, 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 18% 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
CDB Celcomdigi BerhadRM 2.981.4%
+RM 469.3m		-20.7%PE23.1x
AXIATA Axiata Group BerhadRM 2.250.9%
+RM 183.8m		10.8%PE404.8x
TIMECOM TIME dotCom BerhadRM 6.001.5%
+RM 166.4m		16.1%PE25.9x
REDTONE REDtone Digital BerhadRM 0.3415.0%
+RM 34.8m		-40.0%PE17.1x
OCK OCK Group BerhadRM 0.403.9%
+RM 15.5m		-7.1%PE15.2x

Latest News

CDB
RM 2.98
Celcomdigi Berhad
7D
1.4%
1Y
-20.7%

CDB: New CEO Appointment And Unified Distribution Platform Will Support Future Upside

Analysts have nudged their price target for Celcomdigi Berhad slightly higher to MYR4.92, citing updated assumptions around fair value, revenue, profit margins and future P/E multiples. What's in the News Company issued earnings guidance for fiscal 2026, indicating expectations for EBIT to show low single digit growth.
AXIATA
RM 2.25
Axiata Group Berhad
7D
0.9%
1Y
10.8%

AXIATA: New Leadership And Margin Improvement Will Shape Bullish Outlook

Axiata Group Berhad’s analyst price target has been fine tuned from MYR2.83 to MYR2.82, as analysts factor in updated assumptions around revenue growth of about 4%, a profit margin of about 7%, and a forward P/E near 35x under a slightly lower discount rate of about 8.4%. What's in the News Axiata Group Berhad appointed Nik Rizal Kamil Nik Ibrahim Kamil as group CEO effective June 1, taking over from Vivek Sood, who has served the group for nine years in various roles, including group CEO and managing director since 2023.
STAR
RM 0.33
Star Media Group Berhad
7D
6.5%
1Y
-19.5%
TM
RM 7.00
Telekom Malaysia Berhad
7D
-0.7%
1Y
4.3%
SASBADI
RM 0.16
Sasbadi Holdings Berhad
7D
-5.9%
1Y
0%
MAXIS
RM 3.54
Maxis Berhad
7D
-1.4%
1Y
-1.1%
XOX
RM 0.17
XOX Berhad
7D
-5.6%
1Y
-55.3%
OCK
RM 0.40
OCK Group Berhad
7D
3.9%
1Y
-7.1%
CATCHA
RM 0.29
Catcha Digital Berhad
7D
11.5%
1Y
1.8%
TIMECOM
RM 6.00
TIME dotCom Berhad
7D
1.5%
1Y
16.1%
JCBNEXT
RM 1.70
JcbNext Berhad
7D
0%
1Y
9.0%
REACHTEN
RM 0.41
Reach Ten Holdings Berhad
7D
3.8%
1Y
n/a
REDTONE
RM 0.34
REDtone Digital Berhad
7D
15.0%
1Y
-40.0%