Malaysian Telcos Flounder as Competition Increases

DIGI: Service Revenue Growth Remains Negative. Stocks Rallying into Rising Competition.

Malaysian Telco Visits. Life Is Getting Tougher for the Cellular Operators

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Equity Bottom-Up

<p>Two of the Malaysian telcos have now reported 1Q16 numbers. They do not make pretty reading. <a href="https://www.smartkarma.com/entities/946" target="_blank" data-smartkarma-citation="entities:946">Maxis Bhd</a> (Maxis) had been outperforming peers but has slipped back into negative territory. <a href="https://www.smartkarma.com/entities/945" target="_blank" data-smartkarma-citation="entities:945">Digi.Com Bhd</a> (DIGI) looks even worse, reporting a 7.7% drop in revenue YoY, with service revenue falling 1.8%. As we have noted previously, Malaysia is an ex growth telecoms market facing a series of negative factors. Share prices have been weak as realization dawns on investors that all is not well but we see…</p>

Two of the Malaysian telcos have now reported 1Q16 numbers. They do not make pretty reading. Maxis Bhd (Maxis) had been outperforming peers but has slipped back into negative territory. Digi.Com Bhd (DIGI) looks even worse, reporting a 7.7% drop in revenue YoY, with service revenue falling 1.8%. As we have noted previously, Malaysia is an ex growth telecoms market facing a series of negative factors. Share prices have been weak as realization dawns on investors that all is not well but we see…

Malaysian Telcos. Results Point to More Pain Ahead

CelcomDigi

Malaysian Telcos. Results Point to More Pain Ahead