Telekom Malaysia Stands to Gain From Data Center Boom -- Market Talk

Dow Jones08-27

0121 GMT - Telekom Malaysia could benefit significantly from the growth of data centers in Malaysia, Public Investment Bank analyst Eltricia Foong says in a note. As more cloud and internet companies set up data centers, demand for services connecting these centers to both terrestrial and global subsea cable networks will rise, Foong says. Another earning catalyst could come from the telco's collaboration with Singtel on a data center in Johor, she adds. The company has guided for 2024 EBIT at about MYR2.20 billion, slightly above Foong's forecast of MYR2.15 billion. However, an anticipated rise in depreciation costs in 2H may weigh on profits compared to 1H, she adds. Public Investment Bank maintains an outperform rating on Telekom Malaysia with a MYR8.80 target. Shares are 0.3% higher at MYR6.78. (yingxian.wong@wsj.com)

(END) Dow Jones Newswires

August 26, 2024 21:21 ET (01:21 GMT)

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The company has guided for 2024 EBIT at about MYR2.20 billion, slightly above Foong's forecast of MYR2.15 billion. However, an anticipated rise in depreciation costs in 2H may weigh on profits compared to 1H, she adds. Public Investment Bank maintains an outperform rating on Telekom Malaysia with a MYR8.80 target. Shares are 0.3% higher at MYR6.78. 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As more cloud and internet companies ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999002679.SGD","symbol_name":"LionGlobal Singapore Balanced SGD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2462083409","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2462083409","pubTimestamp":1724721660,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0121 GMT - Telekom Malaysia could benefit significantly from the growth of data centers in Malaysia, Public Investment Bank analyst Eltricia Foong says in a note. As more cloud and internet companies set up data centers, demand for services connecting these centers to both terrestrial and global subsea cable networks will rise, Foong says. Another earning catalyst could come from the telco's collaboration with Singtel on a data center in Johor, she adds. The company has guided for 2024 EBIT at about MYR2.20 billion, slightly above Foong's forecast of MYR2.15 billion. However, an anticipated rise in depreciation costs in 2H may weigh on profits compared to 1H, she adds. Public Investment Bank maintains an outperform rating on Telekom Malaysia with a MYR8.80 target. Shares are 0.3% higher at MYR6.78. 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