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Malaysian (KLSE) Telecom Sector Analysis

UpdatedJan 16, 2026
DataAggregated Company Financials
Companies25
  • 7D-0.2%
  • 3M-0.7%
  • 1Y5.5%
  • YTD1.4%

Over the last 7 days, the Telecom industry has remained flat. As for the the longer term, the industry is up 5.9% over the past 12 months. Earnings are forecast to grow by 16% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 16 Jan 2026RM 137.7bRM 64.4bRM 5.8b14.8x23.7x2.1x
Sun, 14 Dec 2025RM 137.1bRM 64.4bRM 5.8b15.9x23.7x2.1x
Tue, 11 Nov 2025RM 140.4bRM 64.6bRM 6.6b14.3x21.3x2.2x
Thu, 09 Oct 2025RM 136.4bRM 64.6bRM 6.5b14.1x20.9x2.1x
Sat, 06 Sep 2025RM 133.8bRM 64.7bRM 6.6b13.9x20.4x2.1x
Mon, 04 Aug 2025RM 135.4bRM 64.8bRM 6.6b10x20.4x2.1x
Wed, 02 Jul 2025RM 134.1bRM 64.7bRM 6.6b10x20.3x2.1x
Fri, 30 May 2025RM 131.9bRM 64.8bRM 6.6b11.5x20x2x
Sun, 27 Apr 2025RM 130.1bRM 65.2bRM 6.4b12.9x20.2x2x
Tue, 25 Mar 2025RM 117.3bRM 65.3bRM 6.5b12.3x18.2x1.8x
Thu, 20 Feb 2025RM 125.4bRM 65.9bRM 6.0b13.5x20.9x1.9x
Sat, 18 Jan 2025RM 129.9bRM 66.0bRM 6.3b15x20.7x2x
Mon, 16 Dec 2024RM 129.9bRM 66.0bRM 6.3b16.7x20.7x2x
Wed, 13 Nov 2024RM 124.9bRM 66.3bRM 5.3b16.3x23.4x1.9x
Fri, 11 Oct 2024RM 131.5bRM 66.2bRM 5.3b15.8x25x2x
Sun, 08 Sep 2024RM 134.7bRM 66.2bRM 5.3b16.7x25.6x2x
Tue, 06 Aug 2024RM 125.5bRM 66.0bRM 4.8b19.3x26x1.9x
Thu, 04 Jul 2024RM 135.2bRM 66.0bRM 4.8b19.5x28.1x2x
Sat, 01 Jun 2024RM 137.4bRM 66.0bRM 4.7b22.8x29.1x2.1x
Mon, 29 Apr 2024RM 140.3bRM 65.2bRM 4.6b19.9x30.2x2.1x
Wed, 27 Mar 2024RM 139.9bRM 65.2bRM 4.6b20.3x30.2x2.1x
Fri, 23 Feb 2024RM 143.4bRM 66.4bRM 611.4m21.9x234.6x2.2x
Sun, 21 Jan 2024RM 139.7bRM 65.3bRM 215.4m21.7x648.5x2.1x
Tue, 19 Dec 2023RM 136.0bRM 65.3bRM 215.4m21.9x631.3x2.1x
Thu, 16 Nov 2023RM 140.2bRM 63.3b-RM 1,437,786,318.0021.9x-97.5x2.2x
Sat, 14 Oct 2023RM 139.3bRM 63.2b-RM 1,414,189,318.0022x-98.5x2.2x
Mon, 11 Sep 2023RM 141.8bRM 63.3b-RM 1,339,289,318.0021.7x-105.9x2.2x
Wed, 09 Aug 2023RM 140.2bRM 60.7b-RM 892,361,364.0015.4x-157.1x2.3x
Fri, 07 Jul 2023RM 137.3bRM 60.7b-RM 894,575,201.0015.8x-153.5x2.3x
Sun, 04 Jun 2023RM 145.8bRM 60.8b-RM 810,513,201.0013.8x-179.9x2.4x
Tue, 02 May 2023RM 148.9bRM 58.5b-RM 1,296,027,420.0014.7x-114.9x2.5x
Thu, 30 Mar 2023RM 144.5bRM 58.5b-RM 1,283,873,420.0015x-112.5x2.5x
Sat, 25 Feb 2023RM 146.5bRM 58.1b-RM 1,067,386,357.0014x-137.2x2.5x
Mon, 23 Jan 2023RM 144.3bRM 63.7bRM 4.0b14.3x36.1x2.3x
Price to Earnings Ratio

36.1x


Total Market Cap: RM 144.3bTotal Earnings: RM 4.0bTotal Revenue: RM 63.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Malaysian Telecom Sector Price to Earnings3Y Average 31.4x202420252026
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 23.9x which is lower than its 3-year average PE of 31.4x.
  • 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 Market2.26%
Telecom-0.18%
Interactive Media and Services3.39%
Wireless Telecom0.56%
Entertainment0%0
Telecom Services and Carriers-1.62%
Media-5.65%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 8.2x.
    • Analysts are expecting annual earnings growth of 22.7%, 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 36% 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 3.411.5%
+RM 586.6m		-8.6%PE30.3x
MAXIS Maxis BerhadRM 3.941.0%
+RM 313.4m		10.1%PE20.6x
JCBNEXT JcbNext BerhadRM 1.813.4%
+RM 7.9m		11.0%PE4.6x
REDTONE REDtone Digital BerhadRM 0.392.7%
+RM 7.7m		-51.0%PE14.8x
OCK OCK Group BerhadRM 0.391.3%
+RM 5.3m		-9.3%PE15.4x

Latest News

TM
RM 7.75
Telekom Malaysia Berhad
7D
-2.1%
1Y
21.5%

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
AXIATA
RM 2.51
Axiata Group Berhad
7D
-1.6%
1Y
11.6%

AXIATA: Edotco Monetisation Will Support Higher Margins Despite Revenue Headwinds

Analysts have maintained their price target on Axiata Group Berhad at RM3.92, citing updated assumptions that combine a sharper projected revenue decline with a higher expected profit margin and a modestly lower forward P/E multiple. What's in the News Axiata has held an Analyst and Investor Day, giving the market an opportunity to hear updated views from management on the business and capital allocation priorities.
CDB
RM 3.41
Celcomdigi Berhad
7D
1.5%
1Y
-8.6%

CDB: Long Dated Spectrum Assignments Will Support Stronger Future Upside

Analysts have nudged their fair value estimate for Celcomdigi Berhad higher from RM5.01 to about RM5.12. This reflects updated assumptions around discount rates, revenue growth, profit margins and a higher future P/E multiple in their models.
OCK
RM 0.39
OCK Group Berhad
7D
1.3%
1Y
-9.3%
MAXIS
RM 3.94
Maxis Berhad
7D
1.0%
1Y
10.1%

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 0.47
Reach Ten Holdings Berhad
7D
1.1%
1Y
n/a
TIMECOM
RM 5.60
TIME dotCom Berhad
7D
-0.4%
1Y
22.0%

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
NOVATECH
RM 0.04
Nova Technology Services Berhad
7D
-11.1%
1Y
-27.3%

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 0.30
Media Prima Berhad
7D
-6.3%
1Y
-36.8%

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 0.39
REDtone Digital Berhad
7D
2.7%
1Y
-51.0%

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 0.10
Astro Malaysia Holdings Berhad
7D
-4.8%
1Y
-53.5%
BINACOM
RM 0.10
Binasat Communications Berhad
7D
-8.7%
1Y
-38.2%

It's Down 27% But Binasat Communications Berhad (KLSE:BINACOM) Could Be Riskier Than It Looks

Dec 15
It's Down 27% But Binasat Communications Berhad (KLSE:BINACOM) Could Be Riskier Than It Looks
KUCINGKO
RM 0.10
Kucingko Berhad
7D
5.0%
1Y
-61.1%

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

Dec 11
A Look At The Intrinsic Value Of Kucingko Berhad (KLSE:KUCINGKO)
CATCHA
RM 0.31
Catcha Digital Berhad
7D
3.3%
1Y
-17.3%

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 1.81
JcbNext Berhad
7D
3.4%
1Y
11.0%
FOODIE
RM 0.49
Foodie Media Berhad
7D
-10.0%
1Y
n/a