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Telekom Malaysia: Ups the ante.
Telekom Malaysia Bhd aims to expand its Unifi customer base to more than 650,000 customers by as early as 2014, a more than fourfold rise.
Currently, TM has more than 160,000 Unifi customers via one million premises passed (number of premises that have HSBB coverage), which represents a penetration rate of 16 per cent. (Source: Business Times)
Top Story: Earnings Review – Stumbling growth and global risk aversion
Strategy Update
¨ 2Q results continued to surprise on the downside despite our recent downward revision in earnings to take into account a slower-than-expected global economic recovery. Of the 115 companies that we cover, 62 of the results (53.1% of the total) were within our expectations, 38 below projections (33.0% of the total) and 15 above forecasts (13.1% of the total).
Sector Call
Banks: 2QCY11 report card – Another quarter of record profits but growth slowing Neutral
Sector Update
¨ Generally, there were no major earnings surprises in the recent 2QCY11 reporting season.
Telecom: Mega school internet project Overweight
Sector Update
¨ Six companies (Maxis, Celcom, YTL Comms, Jaring, Multimedia Synergy Corp and a joint TM-Time dotCom bid) have been reportedly shortlisted for the RM1.5bn 5-year contract to provide Internet access and a virtual learning module (VLM) platform for the 9,924 schools in the country.
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sIngtEl
rEAl dIsgrAce
rElAtIve tO
TM
And
dIgI cOrp
TRUE BLUE
MALAYSIAN TALENT
25th August 2011
Top Story: TM – UniFi gains traction Trading Buy
2QFY11 Results/Briefing Note
¨ 2QFY11 core net profit of RM135m (+29.8% yoy +10.5% qoq) was within our expectations but below consensus. Management guided for EBITDA margin pressure in 2H due to maintenance works and higher A& P costs. Qoq, revenue rose 4% due to stronger data, internet and a surprise improvement in voice.
RM4.24
TM
TELECOMS MALAYSIA