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    AXIATA   MYL6888OO001

AXIATA GROUP

(AXIATA)
  Report
End-of-day quote BURSA MALAYSIA  -  2022-12-01
3.150 MYR   -1.56%
02:52aMalaysia to review plans for 5G network - PM Anwar
RE
11/30Telenor, Axiata Complete Malaysian Mobile Operations Merger
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11/30Merger between Digi and Celcom in Malaysia completed
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Malaysia hopes to complete sale of stakes in 5G agency this month -report

09/02/2022 | 05:07am EST

KUALA LUMPUR (Reuters) - Malaysia said on Friday it hopes to complete its plan to sell 70% of its stake in 5G agency Digital Nasional Berhad (DNB) by this month, state news agency Bernama reported, after two mobile operators dropped out of talks on the equity sale this week.

Two of the country's largest wireless carriers - Maxis Bhd and U Mobile - declined to take up stakes in DNB, disrupting the government's plan to sign agreements with other operators, Reuters reported on Wednesday.

The government had wanted six of the country's mobile operators to agree on taking a combined 70% stake in DNB by Wednesday, following months of talks.

Finance Minister Tengku Zafrul Aziz told Bernama the withdrawal of the two companies would likely delay Malaysia's commercial 5G rollout, as some of the remaining firms would need to re-consult their management on potentially taking an adjusted stake in DNB.

The government hoped to eventually complete the equity sale this month, Zafrul said, adding that it was also considering selling some DNB shares to foreign players.

Despite the delay, Zafrul said DNB remained on target to achieve 80% 5G coverage in populated areas by 2024, according to Bernama.

Malaysia's 5G plans have been repeatedly delayed since last year amid an impasse between DNB and major carriers over pricing and transparency, including concern that a sole state-run network would result in a nationalised monopoly.

Two smaller carriers started 5G trials in December 2021, but four major operators - including Maxis and U Mobile - refused to get on board and asked for a second 5G service to be set up instead.

The government rejected that proposal but offered the carriers stakes to alleviate their concerns, arguing the plan would reduce costs and improve efficiency.

DNB has said the country's communications regulator will adopt stringent public guidelines to ensure fair pricing and a smooth roll-out.

(Reporting by Rozanna Latiff; Editing by Ed Davies)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AXIATA GROUP -1.56% 3.15 End-of-day quote.-24.28%
DIGI.COM 0.00% 3.99 End-of-day quote.-8.49%
MAXIS -1.27% 3.9 End-of-day quote.-19.59%
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Analyst Recommendations on AXIATA GROUP
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Financials
Sales 2022 27 015 M 6 151 M 6 151 M
Net income 2022 1 030 M 235 M 235 M
Net Debt 2022 28 309 M 6 445 M 6 445 M
P/E ratio 2022 -1 994x
Yield 2022 3,32%
Capitalization 28 908 M 6 582 M 6 582 M
EV / Sales 2022 2,12x
EV / Sales 2023 1,78x
Nbr of Employees 12 976
Free-Float 64,6%
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Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 3,15 MYR
Average target price 3,82 MYR
Spread / Average Target 21,3%
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Managers and Directors
Vivek Sood Group Chief Financial Officer
Shahril Ridza bin Ridzuan Non-Executive Chairman
Nirmal Anthony Rodrigo Group Chief Information Officer
Thomas Hundt Chief Technology & Strategy Officer
Abid Abdul Adam Group Chief Risk & Compliance Officer
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