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Malaysian (KLSE) Wireless Telecom Industry Analysis

UpdatedDec 28, 2025
DataAggregated Company Financials
Companies7
  • 7D-1.6%
  • 3M-3.9%
  • 1Y-1.4%
  • YTD-1.9%

Over the last 7 days, the Wireless Telecom industry has dropped 1.6%, driven by pullbacks in Axiata Group Berhad and Celcomdigi Berhad of 2.7% and 1.5%, respectively. In contrast, Watta Holding Berhad has gained 15%. Over the last year, the industry has been flat overall. Looking forward, earnings are forecast to grow by 23% annually.

Industry Valuation and Performance

Has the Malaysian Wireless Telecom Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 28 Dec 2025RM 91.8bRM 45.3bRM 2.9b24.4x31.7x2x
Tue, 25 Nov 2025RM 98.5bRM 45.5bRM 3.8b23.7x25.9x2.2x
Thu, 23 Oct 2025RM 97.1bRM 45.5bRM 3.9b22.3x25.2x2.1x
Sat, 20 Sep 2025RM 98.3bRM 45.5bRM 3.9b22.4x25.5x2.2x
Mon, 18 Aug 2025RM 96.4bRM 45.5bRM 3.8b23.6x25.1x2.1x
Wed, 16 Jul 2025RM 96.4bRM 45.5bRM 3.8b21.9x25.1x2.1x
Fri, 13 Jun 2025RM 92.0bRM 45.5bRM 3.8b19.9x24x2x
Sun, 11 May 2025RM 95.1bRM 46.1bRM 3.7b21x25.7x2.1x
Tue, 08 Apr 2025RM 83.7bRM 46.1bRM 3.7b17.5x22.6x1.8x
Thu, 06 Mar 2025RM 86.6bRM 46.1bRM 3.7b18.8x23.4x1.9x
Sat, 01 Feb 2025RM 91.8bRM 46.3bRM 3.9b21x23.5x2x
Mon, 30 Dec 2024RM 93.1bRM 46.3bRM 3.9b22.1x23.9x2x
Wed, 27 Nov 2024RM 91.5bRM 46.6bRM 2.9b25.1x31.5x2x
Fri, 25 Oct 2024RM 93.9bRM 46.4bRM 2.8b26.7x33.1x2x
Sun, 22 Sep 2024RM 96.9bRM 46.4bRM 2.8b27.5x34.1x2.1x
Tue, 20 Aug 2024RM 92.4bRM 46.1bRM 2.4b25.2x38.5x2x
Thu, 18 Jul 2024RM 94.7bRM 46.1bRM 2.3b26.9x40.4x2.1x
Sat, 15 Jun 2024RM 97.9bRM 46.1bRM 2.3b27.1x41.8x2.1x
Mon, 13 May 2024RM 102.3bRM 45.4bRM 2.3b31.1x45x2.3x
Wed, 10 Apr 2024RM 101.2bRM 45.4bRM 2.3b31.8x44.5x2.2x
Fri, 08 Mar 2024RM 102.0bRM 45.4bRM 2.3b32.3x44.9x2.2x
Sun, 04 Feb 2024RM 104.5bRM 45.4b-RM 1,894,124,448.0032.2x-55.2x2.3x
Tue, 02 Jan 2024RM 100.1bRM 45.4b-RM 1,895,227,606.0034.7x-52.8x2.2x
Thu, 30 Nov 2023RM 100.3bRM 44.9b-RM 3,126,641,148.0027.1x-32.1x2.2x
Sat, 28 Oct 2023RM 101.6bRM 43.3b-RM 3,296,881,148.0032.6x-30.8x2.3x
Mon, 25 Sep 2023RM 107.3bRM 43.3b-RM 3,296,881,148.0032.6x-32.6x2.5x
Wed, 23 Aug 2023RM 106.9bRM 42.5b-RM 2,617,755,148.0039.3x-40.8x2.5x
Fri, 21 Jul 2023RM 105.7bRM 40.9b-RM 2,758,219,424.0043.1x-38.3x2.6x
Sun, 18 Jun 2023RM 110.6bRM 40.9b-RM 2,758,219,424.0044.6x-40.1x2.7x
Tue, 16 May 2023RM 114.2bRM 38.7b-RM 3,226,322,299.0028.9x-35.4x3x
Thu, 13 Apr 2023RM 111.9bRM 38.7b-RM 3,211,767,417.0027.6x-34.8x2.9x
Sat, 11 Mar 2023RM 108.4bRM 38.7b-RM 3,211,767,417.0026x-33.7x2.8x
Mon, 06 Feb 2023RM 108.4bRM 43.6bRM 2.1b25.6x52.3x2.5x
Wed, 04 Jan 2023RM 102.4bRM 43.6bRM 2.1b23.9x49.4x2.4x
Price to Earnings Ratio

49.4x


Total Market Cap: RM 102.4bTotal Earnings: RM 2.1bTotal Revenue: RM 43.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Malaysian Wireless Telecom Industry Price to Earnings3Y Average 8.5x20242025
Current Industry PE
  • Investors are optimistic on the Malaysian Wireless Telecom industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 31.7x which is higher than its 3-year average PE of 8.5x.
  • The industry is trading close to its 3-year average PS ratio of 2.2x.
Past Earnings Growth
  • The earnings for companies in the Wireless Telecom industry have grown 12% 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 industry?

MY Market0.48%
Telecom-0.92%
Wireless Telecom-1.65%
Wireless Telecom Services-1.65%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
WATTA Watta Holding BerhadRM 0.4515.4%
+RM 5.1m		4.7%PS8.1x
XOX XOX BerhadRM 0.264.1%
+RM 1.9m		-5.6%PS0.2x

Latest News

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.
WATTA
RM 0.45
Watta Holding Berhad
7D
15.4%
1Y
4.7%
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.
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
XOX
RM 0.26
XOX Berhad
7D
4.1%
1Y
-5.6%