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Malaysian (KLSE) Telecom Sector Analysis

UpdatedJan 18, 2026
DataAggregated Company Financials
Companies25
  • 7D-0.5%
  • 3M-0.6%
  • 1Y5.3%
  • YTD1.4%

The Telecom industry has stayed flat over the last week. The past year has been better, since the industry has gained 5.3% in that time. Looking forward, 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
Sun, 18 Jan 2026RM 137.7bRM 64.4bRM 5.8b14.8x23.8x2.1x
Tue, 16 Dec 2025RM 137.9bRM 64.4bRM 5.8b15.4x23.8x2.1x
Thu, 13 Nov 2025RM 141.4bRM 64.6bRM 6.6b14.3x21.5x2.2x
Sat, 11 Oct 2025RM 135.3bRM 64.6bRM 6.5b14.4x20.7x2.1x
Mon, 08 Sep 2025RM 133.8bRM 64.7bRM 6.6b13.9x20.4x2.1x
Wed, 06 Aug 2025RM 135.7bRM 64.8bRM 6.6b10x20.5x2.1x
Fri, 04 Jul 2025RM 135.5bRM 64.7bRM 6.6b10.3x20.5x2.1x
Sun, 01 Jun 2025RM 128.9bRM 64.8bRM 6.6b10.3x19.5x2x
Tue, 29 Apr 2025RM 131.1bRM 65.2bRM 6.4b13x20.4x2x
Thu, 27 Mar 2025RM 119.8bRM 65.2bRM 6.4b12.1x18.6x1.8x
Sat, 22 Feb 2025RM 125.4bRM 65.9bRM 6.3b13.1x20x1.9x
Mon, 20 Jan 2025RM 129.9bRM 66.0bRM 6.3b15x20.7x2x
Wed, 18 Dec 2024RM 130.8bRM 66.0bRM 6.3b16.5x20.9x2x
Fri, 15 Nov 2024RM 124.8bRM 66.3bRM 5.3b16x23.4x1.9x
Sun, 13 Oct 2024RM 130.9bRM 66.2bRM 5.3b15.3x24.8x2x
Tue, 10 Sep 2024RM 134.4bRM 66.3bRM 5.2b18.8x25.7x2x
Thu, 08 Aug 2024RM 131.3bRM 66.0bRM 4.8b21.2x27.2x2x
Sat, 06 Jul 2024RM 132.5bRM 66.0bRM 4.8b20.3x27.5x2x
Mon, 03 Jun 2024RM 137.4bRM 66.0bRM 4.7b22.8x29.1x2.1x
Wed, 01 May 2024RM 141.6bRM 65.2bRM 4.6b19.9x30.5x2.2x
Fri, 29 Mar 2024RM 138.0bRM 65.2bRM 4.6b20.7x29.7x2.1x
Sun, 25 Feb 2024RM 143.4bRM 65.5bRM 4.7b21.4x30.7x2.2x
Tue, 23 Jan 2024RM 141.9bRM 65.3bRM 215.4m20.9x658.6x2.2x
Thu, 21 Dec 2023RM 137.2bRM 65.3bRM 215.4m21.9x637x2.1x
Sat, 18 Nov 2023RM 138.9bRM 63.3b-RM 1,449,021,318.0021.9x-95.8x2.2x
Mon, 16 Oct 2023RM 139.3bRM 63.2b-RM 1,414,189,318.0022x-98.5x2.2x
Wed, 13 Sep 2023RM 141.6bRM 63.3b-RM 1,339,289,318.0021.7x-105.7x2.2x
Fri, 11 Aug 2023RM 142.1bRM 60.8b-RM 875,361,364.0015.5x-162.3x2.3x
Sun, 09 Jul 2023RM 135.5bRM 60.7b-RM 894,575,201.0015.1x-151.4x2.2x
Tue, 06 Jun 2023RM 145.8bRM 60.8b-RM 810,513,201.0013.8x-179.9x2.4x
Thu, 04 May 2023RM 151.0bRM 58.5b-RM 1,296,027,420.0014.7x-116.5x2.6x
Sat, 01 Apr 2023RM 145.9bRM 58.5b-RM 1,283,873,420.0014.7x-113.6x2.5x
Mon, 27 Feb 2023RM 146.5bRM 58.7b-RM 1,331,467,463.0014x-110x2.5x
Wed, 25 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 31.3x202420252026
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 23.8x 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 Market1.35%
Telecom-0.47%
Interactive Media and Services3.02%
Wireless Telecom0.32%
Entertainment0%0
Telecom Services and Carriers-2.12%
Media-3.63%
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 22.2%, 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 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 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 3.421.2%
+RM 469.3m		-8.1%PE30.3x
MAXIS Maxis BerhadRM 3.951.3%
+RM 391.8m		11.0%PE20.6x
JCBNEXT JcbNext BerhadRM 1.802.9%
+RM 6.5m		10.4%PE4.5x
SASBADI Sasbadi Holdings BerhadRM 0.179.7%
+RM 6.4m		3.0%PE6.5x
OCK OCK Group BerhadRM 0.391.3%
+RM 5.3m		-10.3%PE15.4x

Latest News

TM
RM 7.68
Telekom Malaysia Berhad
7D
-2.9%
1Y
18.5%

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 2.52
Axiata Group Berhad
7D
-2.3%
1Y
11.5%

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 3.42
Celcomdigi Berhad
7D
1.2%
1Y
-8.1%

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.
SASBADI
RM 0.17
Sasbadi Holdings Berhad
7D
9.7%
1Y
3.0%
OCK
RM 0.39
OCK Group Berhad
7D
1.3%
1Y
-10.3%
MAXIS
RM 3.95
Maxis Berhad
7D
1.3%
1Y
11.0%

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 0.48
Reach Ten Holdings Berhad
7D
1.1%
1Y
n/a
TIMECOM
RM 5.59
TIME dotCom Berhad
7D
-0.2%
1Y
20.5%

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
MEDIA
RM 0.32
Media Prima Berhad
7D
-3.1%
1Y
-33.0%

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
1.3%
1Y
-49.0%

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
MTOUCHE
RM 0.035
mTouche Technology Berhad
7D
-12.5%
1Y
16.7%

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
-54.5%
BINACOM
RM 0.10
Binasat Communications Berhad
7D
-4.5%
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
CATCHA
RM 0.32
Catcha Digital Berhad
7D
3.3%
1Y
-18.2%

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
2.9%
1Y
10.4%
FOODIE
RM 0.48
Foodie Media Berhad
7D
-8.5%
1Y
n/a