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Malaysian (KLSE) Telecom Sector Analysis

UpdatedDec 29, 2025
DataAggregated Company Financials
Companies25
  • 7D-0.9%
  • 3M-0.6%
  • 1Y2.9%
  • YTD2.3%

Over the last 7 days, the Telecom industry has remained flat. Furthermore, the industry has been flat for the past year as well. As for the next few years, earnings are expected to grow by 16% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 29 Dec 2025RM 136.4bRM 64.4bRM 5.8b14.3x23.5x2.1x
Wed, 26 Nov 2025RM 136.8bRM 64.6bRM 6.7b14.2x20.4x2.1x
Fri, 24 Oct 2025RM 137.0bRM 64.6bRM 6.5b14.6x21x2.1x
Sun, 21 Sep 2025RM 138.5bRM 64.7bRM 6.6b14.5x21.1x2.1x
Tue, 19 Aug 2025RM 137.2bRM 64.8bRM 6.6b10.1x20.7x2.1x
Thu, 17 Jul 2025RM 134.9bRM 64.7bRM 6.6b10x20.4x2.1x
Sat, 14 Jun 2025RM 130.6bRM 64.8bRM 6.6b10x19.7x2x
Mon, 12 May 2025RM 135.6bRM 65.4bRM 6.5b11.4x20.9x2.1x
Wed, 09 Apr 2025RM 120.1bRM 65.2bRM 6.4b12.2x18.7x1.8x
Fri, 07 Mar 2025RM 126.0bRM 65.3bRM 6.5b12.3x19.5x1.9x
Sun, 02 Feb 2025RM 129.7bRM 66.0bRM 6.3b14.4x20.7x2x
Tue, 31 Dec 2024RM 132.7bRM 66.0bRM 6.3b16.9x21.2x2x
Thu, 28 Nov 2024RM 129.0bRM 66.2bRM 5.2b17.5x24.6x1.9x
Sat, 26 Oct 2024RM 129.3bRM 66.2bRM 5.3b15.9x24.5x2x
Mon, 23 Sep 2024RM 135.9bRM 66.3bRM 5.2b16.2x26x2.1x
Wed, 21 Aug 2024RM 132.2bRM 66.0bRM 4.9b21.2x27.1x2x
Fri, 19 Jul 2024RM 137.8bRM 66.0bRM 4.8b20.7x28.6x2.1x
Sun, 16 Jun 2024RM 137.4bRM 66.1bRM 4.8b20.3x28.5x2.1x
Tue, 14 May 2024RM 140.4bRM 65.2bRM 4.6b22.9x30.3x2.2x
Thu, 11 Apr 2024RM 139.0bRM 65.2bRM 4.6b21.1x30x2.1x
Sat, 09 Mar 2024RM 139.7bRM 65.5bRM 4.7b21.8x29.9x2.1x
Mon, 05 Feb 2024RM 141.9bRM 65.3bRM 214.2m20.9x662.6x2.2x
Wed, 03 Jan 2024RM 136.3bRM 65.3bRM 215.4m23.5x632.5x2.1x
Fri, 01 Dec 2023RM 136.7bRM 65.3bRM 247.2m20.3x552.9x2.1x
Sun, 29 Oct 2023RM 135.4bRM 63.2b-RM 1,417,561,318.0020.9x-95.5x2.1x
Tue, 26 Sep 2023RM 140.4bRM 63.3b-RM 1,339,289,318.0020.9x-104.8x2.2x
Thu, 24 Aug 2023RM 141.1bRM 62.4b-RM 856,382,364.0015.5x-164.8x2.3x
Sat, 22 Jul 2023RM 140.6bRM 60.7b-RM 894,575,201.0015.4x-157.2x2.3x
Mon, 19 Jun 2023RM 145.1bRM 60.8b-RM 810,475,201.0013.4x-179x2.4x
Wed, 17 May 2023RM 148.8bRM 58.5b-RM 1,296,713,057.0014x-114.8x2.5x
Fri, 14 Apr 2023RM 147.1bRM 58.5b-RM 1,283,873,420.0015.4x-114.5x2.5x
Sun, 12 Mar 2023RM 143.5bRM 58.5b-RM 1,211,995,420.0015.8x-118.4x2.5x
Tue, 07 Feb 2023RM 143.3bRM 63.7bRM 4.0b15.5x35.8x2.3x
Thu, 05 Jan 2023RM 136.2bRM 63.7bRM 4.0b19.1x34.1x2.1x
Price to Earnings Ratio

34.1x


Total Market Cap: RM 136.2bTotal Earnings: RM 4.0bTotal Revenue: RM 63.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Malaysian Telecom Sector Price to Earnings3Y Average 31.6x20242025
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 23.5x which is lower than its 3-year average PE of 31.6x.
  • 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 Market0.48%
Telecom-0.92%
Telecom Services and Carriers0.82%
Entertainment0%0
Wireless Telecom-1.65%
Interactive Media and Services-2.95%
Media-3.44%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 8.5x.
    • Analysts are expecting annual earnings growth of 23.2%, 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 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 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
TM Telekom Malaysia BerhadRM 8.071.5%
+RM 460.5m		19.6%PE13.9x
REACHTEN Reach Ten Holdings BerhadRM 0.483.2%
+RM 15.0m		n/aPE6.9x
WATTA Watta Holding BerhadRM 0.4515.4%
+RM 5.1m		4.7%PS8.1x
SJC Seni Jaya Corporation BerhadRM 0.472.2%
+RM 2.1m		59.3%PE8.6x
XOX XOX BerhadRM 0.264.1%
+RM 1.9m		-5.6%PS0.2x

Latest News

TM
RM 8.07
Telekom Malaysia Berhad
7D
1.5%
1Y
19.6%

Telekom Malaysia Berhad (KLSE:TM) Has A Pretty Healthy Balance Sheet

Dec 29
Telekom Malaysia Berhad (KLSE:TM) Has A Pretty Healthy Balance Sheet
AXIATA
RM 2.57
Axiata Group Berhad
7D
-2.7%
1Y
8.0%

AXIATA: Edotco Monetisation Plans Will Likely Expose Downside Risk

Analysts have modestly raised their price target for Axiata Group Berhad to reflect an improved fair value estimate of approximately RM1.71, up from about RM1.57. They cite expectations of stronger profit margins and a more attractive forward earnings multiple, despite slightly weaker revenue growth assumptions and a marginally lower discount rate.
REACHTEN
RM 0.48
Reach Ten Holdings Berhad
7D
3.2%
1Y
n/a
WATTA
RM 0.45
Watta Holding Berhad
7D
15.4%
1Y
4.7%
OCK
RM 0.38
OCK Group Berhad
7D
-2.6%
1Y
-22.7%
ASTRO
RM 0.10
Astro Malaysia Holdings Berhad
7D
-4.8%
1Y
-56.5%
CDB
RM 3.23
Celcomdigi Berhad
7D
-1.5%
1Y
-11.5%

CDB: Future Spectrum Capacity And Dividends Will Support Stronger Long Term Share Price

Analysts have slightly lowered their price target for Celcomdigi Berhad, trimming fair value from MYR 3.98 to MYR 3.94 as they factor in modestly softer revenue growth expectations, partly offset by improving profit margin forecasts and a lower implied future P/E multiple. What's in the News Accepted long term spectrum assignments from the Malaysian Communications and Multimedia Commission for 2x5MHz in the 1800MHz band and 2x20MHz in the 2600MHz band, effective from 30 November 2025 and running to June 2032 and June 2027 respectively (company announcement) Committed MYR 292.5 million in upfront price component payments to the MCMC for the new spectrum and cumulative annual payments totaling MYR 120 million over the assignment periods, supporting network capacity and service quality (company announcement) Declared a third interim tax exempt single tier dividend of 3.6 sen per ordinary share for the financial year ending 31 December 2025, with ex dividend date on 9 December 2025, lodgment date on 10 December 2025, and payment date on 23 December 2025 (company announcement) Valuation Changes Fair Value: Trimmed slightly from MYR 3.98 to MYR 3.94, reflecting a marginally more conservative valuation.
PUC
RM 0.015
PUC Berhad
7D
-25.0%
1Y
-66.7%
MAXIS
RM 3.85
Maxis Berhad
7D
-1.0%
1Y
6.6%

Subdued Growth No Barrier To Maxis Berhad's (KLSE:MAXIS) Price

Dec 12
Subdued Growth No Barrier To Maxis Berhad's (KLSE:MAXIS) Price
TIMECOM
RM 5.50
TIME dotCom Berhad
7D
-1.1%
1Y
19.6%
XOX
RM 0.26
XOX Berhad
7D
4.1%
1Y
-5.6%
FOODIE
RM 0.43
Foodie Media Berhad
7D
-2.2%
1Y
n/a
SJC
RM 0.47
Seni Jaya Corporation Berhad
7D
2.2%
1Y
59.3%