Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Malaysian (KLSE) Telecom Sector Analysis

UpdatedFeb 09, 2026
DataAggregated Company Financials
Companies26
  • 7D-0.2%
  • 3M-4.9%
  • 1Y1.6%
  • YTD-1.4%

The Telecom is pretty flat in the last 7 days, but Axiata Group Berhad has stood out, gaining 3.9%. Furthermore, the industry has been flat for the past year as well. Looking forward, 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
Mon, 09 Feb 2026RM 134.0bRM 64.5bRM 5.8b13.7x23.1x2.1x
Wed, 07 Jan 2026RM 137.9bRM 64.4bRM 5.8b14.8x23.8x2.1x
Fri, 05 Dec 2025RM 137.6bRM 64.5bRM 5.8b15.7x23.6x2.1x
Sun, 02 Nov 2025RM 135.6bRM 64.5bRM 6.5b14.6x20.8x2.1x
Tue, 30 Sep 2025RM 136.8bRM 64.6bRM 6.5b14.1x20.9x2.1x
Thu, 28 Aug 2025RM 135.4bRM 64.8bRM 6.7b13.2x20.4x2.1x
Sat, 26 Jul 2025RM 136.3bRM 64.7bRM 6.6b10x20.6x2.1x
Mon, 23 Jun 2025RM 131.1bRM 64.7bRM 6.6b10x19.8x2x
Wed, 21 May 2025RM 132.5bRM 65.4bRM 6.5b11.6x20.3x2x
Fri, 18 Apr 2025RM 124.5bRM 65.2bRM 6.4b12.7x19.4x1.9x
Sun, 16 Mar 2025RM 120.9bRM 65.3bRM 6.5b12.3x18.7x1.9x
Tue, 11 Feb 2025RM 131.6bRM 66.0bRM 6.3b14.4x21x2x
Thu, 09 Jan 2025RM 129.1bRM 66.0bRM 6.3b16.5x20.6x2x
Sat, 07 Dec 2024RM 130.4bRM 66.0bRM 6.2b17.2x21.1x2x
Mon, 04 Nov 2024RM 127.6bRM 66.2bRM 5.3b17.1x24.2x1.9x
Wed, 02 Oct 2024RM 136.9bRM 66.3bRM 5.2b15.8x26.1x2.1x
Fri, 30 Aug 2024RM 138.1bRM 66.2bRM 5.3b16.8x26.1x2.1x
Sun, 28 Jul 2024RM 134.1bRM 66.0bRM 4.8b22.7x27.9x2x
Tue, 25 Jun 2024RM 133.9bRM 66.1bRM 4.8b19.5x27.8x2x
Thu, 23 May 2024RM 143.6bRM 65.4bRM 4.7b23.8x30.7x2.2x
Sat, 20 Apr 2024RM 136.6bRM 65.2bRM 4.6b20.7x29.4x2.1x
Mon, 18 Mar 2024RM 145.0bRM 65.5bRM 4.7b21.4x31.1x2.2x
Wed, 14 Feb 2024RM 143.0bRM 65.3bRM 214.2m20.3x667.4x2.2x
Fri, 12 Jan 2024RM 139.8bRM 65.3bRM 215.4m24.6x649.2x2.1x
Sun, 10 Dec 2023RM 133.2bRM 65.3bRM 257.9m20.9x516.4x2x
Tue, 07 Nov 2023RM 140.4bRM 63.2b-RM 1,416,786,318.0022.4x-99.1x2.2x
Thu, 05 Oct 2023RM 139.2bRM 63.2b-RM 1,414,189,318.0020.8x-98.5x2.2x
Sat, 02 Sep 2023RM 142.7bRM 63.3b-RM 1,339,290,318.0022.6x-106.5x2.3x
Mon, 31 Jul 2023RM 142.4bRM 60.7b-RM 891,992,201.0015.8x-159.6x2.3x
Wed, 28 Jun 2023RM 140.5bRM 60.7b-RM 894,575,201.0016.6x-157x2.3x
Fri, 26 May 2023RM 147.1bRM 58.6b-RM 1,251,820,057.0013.1x-117.5x2.5x
Sun, 23 Apr 2023RM 148.0bRM 58.5b-RM 1,281,469,420.0014.8x-115.5x2.5x
Tue, 21 Mar 2023RM 141.8bRM 58.5b-RM 1,211,995,420.0015.3x-117x2.4x
Thu, 16 Feb 2023RM 146.5bRM 63.7bRM 4.0b15.5x36.7x2.3x
Price to Earnings Ratio

36.7x


Total Market Cap: RM 146.5bTotal Earnings: RM 4.0bTotal Revenue: RM 63.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Malaysian Telecom Sector Price to Earnings3Y Average 31.1x202420252026
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 23.1x which is lower than its 3-year average PE of 31.1x.
  • 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-1.04%
Telecom-0.22%
Wireless Telecom0.097%
Entertainment0%0
Telecom Services and Carriers-0.56%
Interactive Media and Services-2.92%
Media-7.59%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 7.7x.
    • Analysts are expecting annual earnings growth of 21.7%, 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 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 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
MAXIS Maxis BerhadRM 3.902.1%
+RM 626.8m		12.1%PE20.3x
TM Telekom Malaysia BerhadRM 8.011.4%
+RM 422.2m		18.3%PE13.8x
TIMECOM TIME dotCom BerhadRM 6.020.8%
+RM 92.4m		27.3%PE25.4x
NOVATECH Nova Technology Services BerhadRM 0.0414.3%
+RM 4.5m		-20.0%PE5.6x

Latest News

CDB
RM 3.24
Celcomdigi Berhad
7D
-0.6%
1Y
-14.7%

CDB: Future Spectrum Access And Dividends Will Support Long Term Upside

Analysts have slightly revised their fair value estimate for Celcomdigi Berhad from RM3.94 to RM3.93, reflecting marginally lower assumptions for revenue growth, profit margin and future P/E, partially offset by a modestly reduced discount rate. What's in the News Comviva launched a next generation Digital Distribution Management System for CelcomDigi, consolidating multiple legacy systems into a single platform that supports mission critical sales and distribution processes across online, direct, and indirect channels, with integrations across roughly 300 touchpoints and tens of thousands of partners, outlets, and users (Client Announcements).
AXIATA
RM 2.19
Axiata Group Berhad
7D
-4.8%
1Y
-3.9%

AXIATA: Future P/E Re Rating Will Support Margins Despite Revenue Weakness

Analysts have nudged their fair value estimate for Axiata Group Berhad slightly lower to RM3.89 from RM3.92, citing updated assumptions around revenue trends, profit margins and the expected future P/E multiple. What's in the News Axiata Group Berhad held an Analyst/Investor Day session, giving the market a formal opportunity to hear updated management commentary and ask questions on the business outlook (Key Developments).
MEDIA
RM 0.29
Media Prima Berhad
7D
-7.9%
1Y
-38.3%

Media Prima Berhad's (KLSE:MEDIA) Shareholders Might Be Looking For Exit

Jan 30
Media Prima Berhad's (KLSE:MEDIA) Shareholders Might Be Looking For Exit
MAXIS
RM 3.90
Maxis Berhad
7D
2.1%
1Y
12.1%
REACHTEN
RM 0.50
Reach Ten Holdings Berhad
7D
-2.9%
1Y
n/a

Estimating The Intrinsic Value Of Reach Ten Holdings Berhad (KLSE:REACHTEN)

Jan 30
Estimating The Intrinsic Value Of Reach Ten Holdings Berhad (KLSE:REACHTEN)
TM
RM 8.01
Telekom Malaysia Berhad
7D
1.4%
1Y
18.3%

TM: Higher Margins And Lower P/E Assumptions Will Support Fair Value Outlook

Analysts have nudged their price target on Telekom Malaysia Berhad slightly higher to RM7.84 from RM7.83, citing updated assumptions that include a modestly higher profit margin outlook and a lower future P/E multiple in their valuation models. Valuation Changes Fair Value Estimate: Adjusted slightly higher from MYR7.83 to MYR7.84 per share.
TIMECOM
RM 6.02
TIME dotCom Berhad
7D
0.8%
1Y
27.3%

Here's Why We Think TIME dotCom Berhad (KLSE:TIMECOM) Might Deserve Your Attention Today

Jan 20
Here's Why We Think TIME dotCom Berhad (KLSE:TIMECOM) Might Deserve Your Attention Today
NOVATECH
RM 0.04
Nova Technology Services Berhad
7D
14.3%
1Y
-20.0%

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%
REDTONE
RM 0.35
REDtone Digital Berhad
7D
-4.1%
1Y
-52.0%

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 0.08
Astro Malaysia Holdings Berhad
7D
-15.8%
1Y
-64.4%
STAR
RM 0.33
Star Media Group Berhad
7D
-4.4%
1Y
-18.8%
CATCHA
RM 0.28
Catcha Digital Berhad
7D
-5.1%
1Y
-18.8%

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