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AmInvest Research retains overweight on telcos, buy call on Telekom

KUALA LUMUR: AmInvestment Research is maintaining its overweight rating on the telecommunications sector with buy call for Telekom Malaysia (TM) which has shown significant cost improvements and poised under brighter prospects under the government’s MyDigital initiatives.

In its report on Friday, Maxis remains a Hold at a fair CYF22 enterprise value/earnings before interest, taxation, depreciation and amortisation (EV/Ebitda) of 12 times, at parity to its three-year average of 12 times.

AmInvest Research also pointed out Communications and Multimedia Minister Tan Sri Annuar Musa has announced the “Pakej Remaja Keluarga Malaysia” which provides affordable mobile data for youths and students at RM30 for 20GB of data with a three-month validity.

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