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Malaysian (KLSE) Telecom Sector Analysis

UpdatedJan 26, 2026
DataAggregated Company Financials
Companies26
  • 7D-0.02%
  • 3M-0.2%
  • 1Y4.7%
  • YTD1.4%

Over the last 7 days, the Telecom industry has remained flat, although notably Telekom Malaysia Berhad gained 3.6%. As for the the longer term, the industry is up 4.7% over the past 12 months. 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, 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
Tue, 07 Mar 2023RM 145.7bRM 58.5b-RM 1,212,040,420.0015.3x-120.2x2.5x
Thu, 02 Feb 2023RM 143.6bRM 63.7bRM 4.0b15.5x35.9x2.3x
Price to Earnings Ratio

35.9x


Total Market Cap: RM 143.6bTotal Earnings: RM 4.0bTotal Revenue: RM 63.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Malaysian Telecom Sector Price to Earnings3Y Average 31.3x202420252026
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 23.7x which is lower than its 3-year average PE of 31.3x.
  • 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 Market0.17%
Telecom-0.02%
Telecom Services and Carriers4.16%
Entertainment0%0
Interactive Media and Services0%0
Wireless Telecom-1.76%
Media-4.18%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 8.0x.
    • Analysts are expecting annual earnings growth of 22.0%, 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 8.6x.
Forecasted Growth
  • Analysts are most optimistic on the Wireless Telecom industry, expecting annual earnings growth of 22% 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 37% 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 7.993.8%
+RM 1.1b		22.0%PE13.8x
TIMECOM TIME dotCom BerhadRM 5.977.6%
+RM 776.5m		27.0%PE25.2x
AXIATA Axiata Group BerhadRM 2.491.2%
+RM 275.6m		12.7%PE226x
MAXIS Maxis BerhadRM 3.910.5%
+RM 156.7m		8.6%PE20.4x
REACHTEN Reach Ten Holdings BerhadRM 0.482.1%
+RM 10.0m		n/aPE6.8x

Latest News

CDB
RM 3.34
Celcomdigi Berhad
7D
-1.5%
1Y
-11.9%

CDB: Future Spectrum Assignments And Dividends Will Support Long Term Upside

Analysts have lifted their price target for Celcomdigi Berhad to RM3.94 from RM3.94, citing updated assumptions that include slightly higher projected revenue growth and a marginally lower profit margin while keeping the future P/E broadly unchanged. What's in the News CelcomDigi and its wholly owned subsidiaries accepted spectrum assignments from the Malaysian Communications and Multimedia Commission for 2x5MHz in the 1,800MHz band and 2x20MHz in the 2,600MHz band, effective from 30 November 2025 (Key Developments).
AXIATA
RM 2.49
Axiata Group Berhad
7D
1.2%
1Y
12.7%

AXIATA: Weaker Revenue And Margin Outlook Will Likely Expose Downside Risk

Analysts have trimmed their price targets for Axiata Group Berhad, citing an assumed revenue contraction of about 17% and a slightly lower profit margin near 6.7%, along with a modest adjustment to the anticipated future P/E multiple to around 24.1x. What's in the News Axiata Group Berhad held an Analyst/Investor Day, giving the market a structured forum to hear updated management views and priorities (Key Developments).
MAXIS
RM 3.91
Maxis Berhad
7D
0.5%
1Y
8.6%

Does Maxis Berhad (KLSE:MAXIS) Have A Healthy Balance Sheet?

Jan 21
Does Maxis Berhad (KLSE:MAXIS) Have A Healthy Balance Sheet?
TIMECOM
RM 5.97
TIME dotCom Berhad
7D
7.6%
1Y
27.0%

Here's Why We Think TIME dotCom Berhad (KLSE:TIMECOM) Might Deserve Your Attention Today

Jan 20
Here's Why We Think TIME dotCom Berhad (KLSE:TIMECOM) Might Deserve Your Attention Today
TM
RM 7.99
Telekom Malaysia Berhad
7D
3.8%
1Y
22.0%

Telekom Malaysia Berhad (KLSE:TM) Is Doing The Right Things To Multiply Its Share Price

Jan 13
Telekom Malaysia Berhad (KLSE:TM) Is Doing The Right Things To Multiply Its Share Price
PUC
RM 0.015
PUC Berhad
7D
-25.0%
1Y
-62.5%
OCK
RM 0.39
OCK Group Berhad
7D
-1.3%
1Y
-9.4%
REACHTEN
RM 0.48
Reach Ten Holdings Berhad
7D
2.1%
1Y
n/a
MEDIA
RM 0.28
Media Prima Berhad
7D
-8.2%
1Y
-39.8%

We Discuss Why Media Prima Berhad's (KLSE:MEDIA) CEO Compensation May Be Closely Reviewed

Dec 21
We Discuss Why Media Prima Berhad's (KLSE:MEDIA) CEO Compensation May Be Closely Reviewed
REDTONE
RM 0.35
REDtone Digital Berhad
7D
-5.3%
1Y
-52.7%

REDtone Digital Berhad (KLSE:REDTONE) Stock's 26% Dive Might Signal An Opportunity But It Requires Some Scrutiny

Dec 18
REDtone Digital Berhad (KLSE:REDTONE) Stock's 26% Dive Might Signal An Opportunity But It Requires Some Scrutiny
ASTRO
RM 0.095
Astro Malaysia Holdings Berhad
7D
-5.0%
1Y
-56.8%
KUCINGKO
RM 0.10
Kucingko Berhad
7D
5.0%
1Y
-60.4%

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

Dec 11
A Look At The Intrinsic Value Of Kucingko Berhad (KLSE:KUCINGKO)
STAR
RM 0.34
Star Media Group Berhad
7D
-1.5%
1Y
-16.3%
XOX
RM 0.23
XOX Berhad
7D
-6.1%
1Y
-40.3%
FOODIE
RM 0.48
Foodie Media Berhad
7D
2.1%
1Y
n/a