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Malaysian (KLSE) Telecom Sector Analysis

UpdatedJan 02, 2026
DataAggregated Company Financials
Companies25
  • 7D-1.0%
  • 3M-1.6%
  • 1Y1.3%
  • YTDn/a

Over the last 7 days, the Telecom industry has dropped 1.0%, driven by pullbacks in Celcomdigi Berhad and Axiata Group Berhad of 1.8% and 2.7%, respectively. 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
Fri, 02 Jan 2026RM 135.2bRM 64.4bRM 5.8b14.6x23.3x2.1x
Sun, 30 Nov 2025RM 133.8bRM 64.5bRM 5.8b16x22.9x2.1x
Tue, 28 Oct 2025RM 137.5bRM 64.6bRM 6.5b14.4x21x2.1x
Thu, 25 Sep 2025RM 135.7bRM 64.7bRM 6.6b14.3x20.7x2.1x
Sat, 23 Aug 2025RM 135.4bRM 64.8bRM 6.7b12.7x20.4x2.1x
Mon, 21 Jul 2025RM 135.3bRM 64.7bRM 6.6b10x20.4x2.1x
Wed, 18 Jun 2025RM 131.8bRM 64.8bRM 6.6b10.8x19.9x2x
Fri, 16 May 2025RM 137.1bRM 65.4bRM 6.5b11.9x21.1x2.1x
Sun, 13 Apr 2025RM 122.0bRM 65.2bRM 6.4b12x19x1.9x
Tue, 11 Mar 2025RM 123.4bRM 65.3bRM 6.5b13x19.1x1.9x
Thu, 06 Feb 2025RM 130.2bRM 66.0bRM 6.3b14.5x20.7x2x
Sat, 04 Jan 2025RM 132.7bRM 66.0bRM 6.3b16.7x21.2x2x
Mon, 02 Dec 2024RM 128.1bRM 66.0bRM 6.2b16.8x20.7x1.9x
Wed, 30 Oct 2024RM 130.4bRM 66.2bRM 5.3b17.1x24.8x2x
Fri, 27 Sep 2024RM 136.9bRM 66.3bRM 5.2b15.8x26.1x2.1x
Sun, 25 Aug 2024RM 131.8bRM 66.2bRM 5.0b16.3x26.3x2x
Tue, 23 Jul 2024RM 135.8bRM 66.0bRM 4.8b20.5x28.2x2.1x
Thu, 20 Jun 2024RM 137.2bRM 66.1bRM 4.8b19.6x28.5x2.1x
Sat, 18 May 2024RM 141.3bRM 65.2bRM 4.6b23.4x30.5x2.2x
Mon, 15 Apr 2024RM 137.8bRM 65.2bRM 4.6b20.9x29.7x2.1x
Wed, 13 Mar 2024RM 143.7bRM 65.5bRM 4.7b22x30.8x2.2x
Fri, 09 Feb 2024RM 141.8bRM 65.3bRM 214.2m19.8x661.9x2.2x
Sun, 07 Jan 2024RM 140.1bRM 65.3bRM 215.4m24.1x650.3x2.1x
Tue, 05 Dec 2023RM 136.5bRM 65.3bRM 257.9m20.3x529.3x2.1x
Thu, 02 Nov 2023RM 134.8bRM 63.2b-RM 1,416,786,318.0021.7x-95.1x2.1x
Sat, 30 Sep 2023RM 139.9bRM 63.2b-RM 1,414,189,318.0021.4x-99x2.2x
Mon, 28 Aug 2023RM 142.1bRM 62.5b-RM 658,382,364.0014.9x-215.8x2.3x
Wed, 26 Jul 2023RM 140.8bRM 60.7b-RM 894,575,201.0015.5x-157.3x2.3x
Fri, 23 Jun 2023RM 140.4bRM 60.7b-RM 894,575,201.0016.9x-156.9x2.3x
Sun, 21 May 2023RM 148.3bRM 58.6b-RM 1,250,437,057.0013.4x-118.6x2.5x
Tue, 18 Apr 2023RM 148.6bRM 58.5b-RM 1,283,873,420.0015.9x-115.8x2.5x
Thu, 16 Mar 2023RM 140.1bRM 58.5b-RM 1,211,995,420.0015.3x-115.6x2.4x
Sat, 11 Feb 2023RM 141.2bRM 63.7bRM 4.0b14.1x35.3x2.2x
Mon, 09 Jan 2023RM 138.2bRM 63.7bRM 4.0b19.1x34.6x2.2x
Price to Earnings Ratio

34.6x


Total Market Cap: RM 138.2bTotal Earnings: RM 4.0bTotal Revenue: RM 63.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Malaysian Telecom Sector Price to Earnings3Y Average 31.5x202420252026
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 23.3x which is lower than its 3-year average PE of 31.5x.
  • 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 Market-0.033%
Telecom-1.04%
Interactive Media and Services2.80%
Telecom Services and Carriers0.92%
Media0.39%
Entertainment0%0
Wireless Telecom-1.97%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 8.4x.
    • Analysts are expecting annual earnings growth of 23.2%, 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 23% 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 35% 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 8.050.6%
+RM 191.9m		18.9%PE13.9x
TIMECOM TIME dotCom BerhadRM 5.591.6%
+RM 166.4m		18.2%PE23.6x
FOODIE Foodie Media BerhadRM 0.4811.6%
+RM 44.4m		n/aPE45.6x
REACHTEN Reach Ten Holdings BerhadRM 0.528.4%
+RM 40.0m		n/aPE7.3x
NOVATECH Nova Technology Services BerhadRM 0.0525.0%
+RM 8.9m		-16.7%PE7x

Latest News

AXIATA
RM 2.52
Axiata Group Berhad
7D
-2.7%
1Y
5.0%

Here's Why Axiata Group Berhad (KLSE:AXIATA) Has A Meaningful Debt Burden

Jan 01
Here's Why Axiata Group Berhad (KLSE:AXIATA) Has A Meaningful Debt Burden
MAXIS
RM 3.79
Maxis Berhad
7D
-1.6%
1Y
4.1%

Maxis Berhad (KLSE:MAXIS) Shares Could Be 42% Below Their Intrinsic Value Estimate

Dec 31
Maxis Berhad (KLSE:MAXIS) Shares Could Be 42% Below Their Intrinsic Value Estimate
REACHTEN
RM 0.52
Reach Ten Holdings Berhad
7D
8.4%
1Y
n/a
TIMECOM
RM 5.59
TIME dotCom Berhad
7D
1.6%
1Y
18.2%

Subdued Growth No Barrier To TIME dotCom Berhad's (KLSE:TIMECOM) Price

Dec 29
Subdued Growth No Barrier To TIME dotCom Berhad's (KLSE:TIMECOM) Price
TM
RM 8.05
Telekom Malaysia Berhad
7D
0.6%
1Y
18.9%

Telekom Malaysia Berhad (KLSE:TM) Has A Pretty Healthy Balance Sheet

Dec 29
Telekom Malaysia Berhad (KLSE:TM) Has A Pretty Healthy Balance Sheet
NOVATECH
RM 0.05
Nova Technology Services Berhad
7D
25.0%
1Y
-16.7%

Nova Technology Services Berhad (KLSE:NOVATECH) Might Not Be As Mispriced As It Looks After Plunging 33%

Dec 23
Nova Technology Services Berhad (KLSE:NOVATECH) Might Not Be As Mispriced As It Looks After Plunging 33%
MEDIA
RM 0.34
Media Prima Berhad
7D
-1.4%
1Y
-27.7%

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
WATTA
RM 0.38
Watta Holding Berhad
7D
-15.6%
1Y
-11.6%
REDTONE
RM 0.38
REDtone Digital Berhad
7D
1.3%
1Y
-55.8%

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
OCK
RM 0.38
OCK Group Berhad
7D
-2.6%
1Y
-21.1%
MTOUCHE
RM 0.035
mTouche Technology Berhad
7D
-12.5%
1Y
0%

Is mTouche Technology Berhad (KLSE:MTOUCHE) Using Debt In A Risky Way?

Dec 17
Is mTouche Technology Berhad (KLSE:MTOUCHE) Using Debt In A Risky Way?
ASTRO
RM 0.10
Astro Malaysia Holdings Berhad
7D
-4.8%
1Y
-56.5%
CDB
RM 3.19
Celcomdigi Berhad
7D
-1.8%
1Y
-12.6%

CDB: Future Spectrum Capacity And Dividends Will Support Stronger Long Term Share Price

Analysts have slightly lowered their price target for Celcomdigi Berhad, trimming fair value from MYR 3.98 to MYR 3.94 as they factor in modestly softer revenue growth expectations, partly offset by improving profit margin forecasts and a lower implied future P/E multiple. What's in the News Accepted long term spectrum assignments from the Malaysian Communications and Multimedia Commission for 2x5MHz in the 1800MHz band and 2x20MHz in the 2600MHz band, effective from 30 November 2025 and running to June 2032 and June 2027 respectively (company announcement) Committed MYR 292.5 million in upfront price component payments to the MCMC for the new spectrum and cumulative annual payments totaling MYR 120 million over the assignment periods, supporting network capacity and service quality (company announcement) Declared a third interim tax exempt single tier dividend of 3.6 sen per ordinary share for the financial year ending 31 December 2025, with ex dividend date on 9 December 2025, lodgment date on 10 December 2025, and payment date on 23 December 2025 (company announcement) Valuation Changes Fair Value: Trimmed slightly from MYR 3.98 to MYR 3.94, reflecting a marginally more conservative valuation.
CATCHA
RM 0.30
Catcha Digital Berhad
7D
1.7%
1Y
-18.9%

We Think That There Are Issues Underlying Catcha Digital Berhad's (KLSE:CATCHA) Earnings

Dec 01
We Think That There Are Issues Underlying Catcha Digital Berhad's (KLSE:CATCHA) Earnings
JCBNEXT
RM 1.80
JcbNext Berhad
7D
3.4%
1Y
10.4%
FOODIE
RM 0.48
Foodie Media Berhad
7D
11.6%
1Y
n/a