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Malaysian (KLSE) Telecom Sector Analysis

UpdatedMar 28, 2026
DataAggregated Company Financials
Companies26
  • 7D-2.1%
  • 3M-7.6%
  • 1Y2.9%
  • YTD-7.2%

Over the last 7 days, the Telecom industry has dropped 2.4%, driven by Maxis Berhad declining 4.4%. As for the longer term, the industry's performance has been flat for the past year. 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
Sat, 28 Mar 2026RM 126.1bRM 55.1bRM 5.4b14.4x23.3x2.3x
Mon, 23 Feb 2026RM 134.8bRM 64.7bRM 6.1b14.2x22.3x2.1x
Wed, 21 Jan 2026RM 137.1bRM 64.5bRM 5.8b13.7x23.6x2.1x
Fri, 19 Dec 2025RM 136.9bRM 64.4bRM 5.8b14.4x23.6x2.1x
Sun, 16 Nov 2025RM 139.6bRM 64.6bRM 6.6b14.1x21.2x2.2x
Tue, 14 Oct 2025RM 134.8bRM 64.6bRM 6.5b14.3x20.6x2.1x
Thu, 11 Sep 2025RM 135.4bRM 64.7bRM 6.6b13.9x20.6x2.1x
Sat, 09 Aug 2025RM 136.7bRM 64.8bRM 6.6b10x20.6x2.1x
Mon, 07 Jul 2025RM 135.0bRM 64.7bRM 6.6b10x20.4x2.1x
Wed, 04 Jun 2025RM 129.8bRM 64.8bRM 6.6b10.3x19.6x2x
Fri, 02 May 2025RM 132.8bRM 65.4bRM 6.5b11.7x20.5x2x
Sun, 30 Mar 2025RM 121.7bRM 65.2bRM 6.4b12x18.9x1.9x
Tue, 25 Feb 2025RM 126.7bRM 65.9bRM 6.3b12.7x20.3x1.9x
Thu, 23 Jan 2025RM 131.3bRM 66.0bRM 6.3b14.7x20.9x2x
Sat, 21 Dec 2024RM 129.5bRM 66.0bRM 6.3b16.2x20.7x2x
Mon, 18 Nov 2024RM 124.0bRM 66.3bRM 5.3b16.2x23.2x1.9x
Wed, 16 Oct 2024RM 132.8bRM 66.2bRM 5.3b15.3x25.2x2x
Fri, 13 Sep 2024RM 135.3bRM 66.3bRM 5.2b16.9x25.8x2x
Sun, 11 Aug 2024RM 131.6bRM 66.0bRM 4.8b22.2x27.3x2x
Tue, 09 Jul 2024RM 132.5bRM 66.0bRM 4.8b20.3x27.5x2x
Thu, 06 Jun 2024RM 138.9bRM 66.1bRM 4.8b19.3x28.9x2.1x
Sat, 04 May 2024RM 141.0bRM 65.2bRM 4.6b23.8x30.4x2.2x
Mon, 01 Apr 2024RM 137.9bRM 65.2bRM 4.6b21.1x29.7x2.1x
Wed, 28 Feb 2024RM 145.7bRM 65.5bRM 4.7b21.6x31.2x2.2x
Fri, 26 Jan 2024RM 142.0bRM 65.3bRM 215.4m20.9x659x2.2x
Sun, 24 Dec 2023RM 136.8bRM 65.3bRM 215.4m21.9x634.8x2.1x
Tue, 21 Nov 2023RM 139.9bRM 64.9b-RM 1,257,781,318.0021.7x-111.2x2.2x
Thu, 19 Oct 2023RM 138.9bRM 63.2b-RM 1,414,189,318.0020.9x-98.2x2.2x
Sat, 16 Sep 2023RM 143.2bRM 63.3b-RM 1,339,289,318.0020.9x-106.9x2.3x
Mon, 14 Aug 2023RM 141.0bRM 60.8b-RM 875,361,364.0015.7x-161.1x2.3x
Wed, 12 Jul 2023RM 137.4bRM 60.7b-RM 894,575,201.0015.2x-153.6x2.3x
Fri, 09 Jun 2023RM 142.3bRM 60.8b-RM 810,513,201.0013.5x-175.6x2.3x
Sun, 07 May 2023RM 151.1bRM 58.5b-RM 1,296,930,420.0014.5x-116.5x2.6x
Tue, 04 Apr 2023RM 146.7bRM 58.5b-RM 1,283,873,420.0014.9x-114.2x2.5x
Price to Earnings Ratio

-114.2x


Total Market Cap: RM 146.7bTotal 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 35x202420252026
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 23.2x which is lower than its 3-year average PE of 35.0x.
  • 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 Market-0.43%
Telecom-2.15%
Entertainment0%0
Interactive Media and Services-0.10%
Telecom Services and Carriers-1.85%
Wireless Telecom-2.28%
Media-3.36%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 9.2x.
    • Analysts are expecting annual earnings growth of 18.9%, 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 30% 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
STAR Star Media Group BerhadRM 0.321.6%
+RM 3.6m		-25.6%PS1.1x
CATCHA Catcha Digital BerhadRM 0.242.1%
+RM 2.3m		-19.7%PE20.7x

Latest News

FOODIE
RM 0.32
Foodie Media Berhad
7D
-8.6%
1Y
n/a
TM
RM 7.34
Telekom Malaysia Berhad
7D
-1.2%
1Y
12.1%

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
-25.0%
1Y
-62.5%
CDB
RM 3.04
Celcomdigi Berhad
7D
-0.7%
1Y
-12.6%

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.
AXIATA
RM 2.26
Axiata Group Berhad
7D
-2.2%
1Y
26.3%

AXIATA: New CEO Transition And Flat Revenue Outlook Will Sustain Overvaluation Risk

Analysts have trimmed their price target for Axiata Group Berhad from MYR1.75 to MYR1.73, reflecting updated views on revenue growth, profit margins, and future P/E assumptions. What's in the News Axiata Group Berhad has appointed Nik Rizal Kamil Nik Ibrahim Kamil as group CEO effective June 1, succeeding Vivek Sood, who served the group for nine years in various roles including group CEO and managing director since 2023 (Key Developments).
CATCHA
RM 0.24
Catcha Digital Berhad
7D
2.1%
1Y
-19.7%
MAXIS
RM 3.50
Maxis Berhad
7D
-4.4%
1Y
3.2%
TIMECOM
RM 5.90
TIME dotCom Berhad
7D
-3.3%
1Y
18.2%
REACHTEN
RM 0.42
Reach Ten Holdings Berhad
7D
-5.6%
1Y
n/a
STAR
RM 0.32
Star Media Group Berhad
7D
1.6%
1Y
-25.6%