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Malaysian (KLSE) Telecom Sector Analysis

UpdatedMar 12, 2026
DataAggregated Company Financials
Companies26
  • 7D0.4%
  • 3M-3.5%
  • 1Y7.7%
  • YTD-2.5%

Last week, the Telecom industry hasn't moved much but Media Prima Berhad is up 29% in that time. As for the the longer term, the industry is up 7.7% over the past 12 months. Looking forward, earnings are forecast to grow by 14% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 12 Mar 2026RM 132.5bRM 55.1bRM 5.4b15.3x24.5x2.4x
Sat, 07 Feb 2026RM 134.0bRM 64.5bRM 5.8b13.7x23.1x2.1x
Mon, 05 Jan 2026RM 135.8bRM 64.4bRM 5.8b14.6x23.4x2.1x
Wed, 03 Dec 2025RM 137.3bRM 64.5bRM 5.8b16.1x23.5x2.1x
Fri, 31 Oct 2025RM 136.4bRM 64.5bRM 6.5b14.5x20.9x2.1x
Sun, 28 Sep 2025RM 135.7bRM 64.6bRM 6.5b14.2x20.8x2.1x
Tue, 26 Aug 2025RM 136.6bRM 64.8bRM 6.7b12.9x20.5x2.1x
Thu, 24 Jul 2025RM 134.8bRM 64.7bRM 6.6b10x20.4x2.1x
Sat, 21 Jun 2025RM 131.1bRM 64.7bRM 6.6b10x19.8x2x
Mon, 19 May 2025RM 136.6bRM 65.4bRM 6.5b11.7x21x2.1x
Wed, 16 Apr 2025RM 124.2bRM 65.2bRM 6.4b12.8x19.3x1.9x
Fri, 14 Mar 2025RM 121.6bRM 65.3bRM 6.5b12.4x18.8x1.9x
Sun, 09 Feb 2025RM 131.0bRM 66.0bRM 6.3b14.4x20.9x2x
Tue, 07 Jan 2025RM 131.8bRM 66.0bRM 6.3b16.7x21x2x
Thu, 05 Dec 2024RM 130.8bRM 66.0bRM 6.2b17.1x21.2x2x
Sat, 02 Nov 2024RM 127.6bRM 66.2bRM 5.3b17.1x24.2x1.9x
Mon, 30 Sep 2024RM 137.0bRM 66.3bRM 5.2b15.9x26.2x2.1x
Wed, 28 Aug 2024RM 134.5bRM 66.2bRM 4.9b16x27.3x2x
Fri, 26 Jul 2024RM 134.3bRM 66.0bRM 4.8b22x27.9x2x
Sun, 23 Jun 2024RM 134.1bRM 66.1bRM 4.8b19.4x27.9x2x
Tue, 21 May 2024RM 144.0bRM 65.3bRM 4.7b23.6x30.8x2.2x
Thu, 18 Apr 2024RM 137.7bRM 65.2bRM 4.6b20.8x29.7x2.1x
Sat, 16 Mar 2024RM 145.0bRM 65.5bRM 4.7b21.4x31.1x2.2x
Mon, 12 Feb 2024RM 142.2bRM 65.3bRM 214.2m20.3x663.7x2.2x
Wed, 10 Jan 2024RM 140.2bRM 65.3bRM 215.4m25.3x650.9x2.1x
Fri, 08 Dec 2023RM 134.7bRM 65.3bRM 257.9m20.9x522.3x2.1x
Sun, 05 Nov 2023RM 137.8bRM 63.2b-RM 1,416,786,318.0022.4x-97.3x2.2x
Tue, 03 Oct 2023RM 139.2bRM 63.2b-RM 1,414,189,318.0020.2x-98.5x2.2x
Thu, 31 Aug 2023RM 139.6bRM 63.3b-RM 1,323,815,364.0015.2x-105.5x2.2x
Sat, 29 Jul 2023RM 142.3bRM 60.7b-RM 891,992,201.0015.8x-159.5x2.3x
Mon, 26 Jun 2023RM 141.2bRM 60.7b-RM 894,575,201.0016.3x-157.8x2.3x
Wed, 24 May 2023RM 146.2bRM 58.6b-RM 1,250,437,057.0013.1x-116.9x2.5x
Fri, 21 Apr 2023RM 148.0bRM 58.5b-RM 1,281,469,420.0014.8x-115.5x2.5x
Sun, 19 Mar 2023RM 141.0bRM 58.5b-RM 1,211,995,420.0015.2x-116.3x2.4x
Price to Earnings Ratio

-116.3x


Total Market Cap: RM 141.0bTotal Earnings: -RM 1,211,995,420.00Total Revenue: RM 58.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Malaysian Telecom Sector Price to Earnings3Y Average 33x202420252026
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 24.5x which is lower than its 3-year average PE of 33.0x.
  • The 3-year average PS ratio of 2.1x is lower than the industry's current PS ratio of 2.4x.
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-0.0016%
Telecom0.37%
Media2.39%
Telecom Services and Carriers0.77%
Wireless Telecom0.16%
Entertainment0%0
Interactive Media and Services-1.99%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 8.3x.
    • Analysts are expecting annual earnings growth of 18.4%, 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 8.5x.
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 17% 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
MEDIA Media Prima BerhadRM 0.3620.0%
+RM 66.6m		-4.0%PE15.3x
NOVATECH Nova Technology Services BerhadRM 0.0414.3%
+RM 4.5m		-20.0%PE7.3x
REDTONE REDtone Digital BerhadRM 0.331.6%
+RM 3.9m		-43.0%PE16.1x
STAR Star Media Group BerhadRM 0.321.6%
+RM 3.6m		-15.8%PS1.1x

Latest News

TM
RM 7.40
Telekom Malaysia Berhad
7D
-2.6%
1Y
13.7%

TM: 5G Network Shift And Dividends Will Support Balanced Fair Value Outlook

Analysts have nudged their price target for Telekom Malaysia Berhad slightly higher to MYR7.96 from MYR7.91, reflecting updated assumptions for more moderate revenue growth, a small adjustment to expected profit margins and a higher forward P/E multiple. What's in the News TM plans to enter a new 5G Multi-Operator Core Network arrangement with U Mobile, aiming to support its mobile competitiveness and convergence ambitions across consumer, SME and enterprise segments (Client Announcements).
CDB
RM 3.18
Celcomdigi Berhad
7D
-0.9%
1Y
-10.9%

CDB: New CEO And Digital Platform Integration Will Support Future Upside

Analysts have lifted their price target for Celcomdigi Berhad by MYR0.00 to reflect slightly higher revenue growth assumptions of 3.61% and a modestly stronger profit margin expectation of 18.44%, while keeping the discount rate and future P/E broadly in line with previous estimates. What's in the News The company issued earnings guidance for fiscal 2026, indicating EBIT is expected to see low single digit growth (Corporate guidance).
AXIATA
RM 2.28
Axiata Group Berhad
7D
-1.7%
1Y
23.2%

AXIATA: Weaker Profit Outlook Under New Leadership Will Sustain Overvaluation Risk

Analysts have slightly reduced their fair value estimate for Axiata Group Berhad from MYR1.76 to MYR1.75, citing updated assumptions for revenue growth, profit margins, and future P/E expectations. What's in the News Axiata appointed Nik Rizal Kamil Nik Ibrahim Kamil as group CEO effective June 1, taking over from Vivek Sood, who served the group for nine years in various leadership roles (Key Developments).
MEDIA
RM 0.36
Media Prima Berhad
7D
20.0%
1Y
-4.0%
OCK
RM 0.36
OCK Group Berhad
7D
-1.4%
1Y
-16.3%
MAXIS
RM 3.83
Maxis Berhad
7D
-0.5%
1Y
18.2%
TIMECOM
RM 5.95
TIME dotCom Berhad
7D
-3.7%
1Y
24.7%
NOVATECH
RM 0.04
Nova Technology Services Berhad
7D
14.3%
1Y
-20.0%
REACHTEN
RM 0.47
Reach Ten Holdings Berhad
7D
-2.1%
1Y
n/a
STAR
RM 0.32
Star Media Group Berhad
7D
1.6%
1Y
-15.8%
REDTONE
RM 0.33
REDtone Digital Berhad
7D
1.6%
1Y
-43.0%
FOODIE
RM 0.35
Foodie Media Berhad
7D
-6.7%
1Y
n/a