Telekom Malaysia's Outlook Appears Bright as Core Digital Infrastructure Enabler -- Market Talk

Dow Jones10-02

0108 GMT - Telekom Malaysia may post strong earnings growth, driven by cost-saving measures and structural drivers such as its wholesale segment that provides telco infrastructure services and data centers JV, RHB IB analyst Jeffrey Tan says in a note. These tailwinds should boost the telco giant's return on equity, with its low debt potentially supporting higher dividends, he says. Tan estimates that the data center JV with Singtel could contribute approximately MYR80 million-MYR85 million to Telekom's earnings, or around 4% of its expected 2027 Patami, and could add about MYR0.37 to Telekom's valuation. Telekom Malaysia is RHB's top choice in the country's telco sector, given its role as a core digital infrastructure provider. RHB maintains a buy rating on Telekom and keeps its target price at MYR8.40. Shares are 0.7% lower at MYR6.68.(yingxian.wong@wsj.com)

(END) Dow Jones Newswires

October 01, 2024 21:08 ET (01:08 GMT)

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These tailwinds should boost the telco giant's return on equity, with its low debt potentially supporting higher dividends, he says. Tan estimates that the data center JV with Singtel could contribute approximately MYR80 million-MYR85 million to Telekom's earnings, or around 4% of its expected 2027 Patami, and could add about MYR0.37 to Telekom's valuation. Telekom Malaysia is RHB's top choice in the country's telco sector, given its role as a core digital infrastructure provider. RHB maintains a buy rating on Telekom and keeps its target price at MYR8.40. 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