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MarketScreener Homepage  >  Equities  >  BURSA MALAYSIA  >  Axiata Group    AXIATA   MYL6888OO001

AXIATA GROUP

(AXIATA)
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Malaysia revokes 5G spectrum awarded to telecoms firms

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06/03/2020 | 05:25am EDT

Malaysia on Wednesday revoked the 5G telecommunications spectrum it handed out to major domestic telecoms players and a private firm after controversy over the process done without a tender.

The communications and multimedia ministry said in a statement that it was cancelling the instructions for the Malaysian Communications and Multimedia Commission (MCMC) to allocate the spectrum to the five companies.

"Due to technical and legal issues, and the need to follow a transparent process, I have instructed the MCMC chairman to revoke the order and to review the instruments immediately," Minister Saifuddin Abdullah said.

In a notice dated May 15 and posted on the commission's website, the ministry had said the 700 MHz 5G spectrum went to local units of Axiata Group, Digi.Com and Maxis, as well as Telekom Malaysia and private firm Altel Communications.

At the start of this year, MCMC said the award of the 5G spectrum band was being considered to a consortium of multiple licensees, rather than individual ones.

It had said it would undertake a tender process intended to cut costs and avoid infrastructure duplication amid improvements to 4G networks.

MCMC had identified the 700 MHz, 3.5 GHz and 26/28 GHz as the pioneer spectrum bands for the 5G roll-out in Malaysia.

(Reporting by Liz Lee and Joseph Sipalan; editing by Clarence Fernandez and Jason Neely)


Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -2.08% 20.74 Delayed Quote.285.09%
AXIATA GROUP -2.56% 2.66 End-of-day quote.-35.75%
DIGI.COM -0.25% 3.96 End-of-day quote.-11.21%
JASON CO., LTD. 0.83% 733 End-of-day quote.101.37%
JUST GROUP PLC 1.72% 45 Delayed Quote.-44.00%
MAXIS 0.20% 4.92 End-of-day quote.-7.52%
TELEKOM MALAYSIA 0.71% 4.25 End-of-day quote.11.26%
WILL GROUP, INC. -1.58% 870 End-of-day quote.-30.51%
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Financials
Sales 2020 24 094 M 5 819 M 5 819 M
Net income 2020 661 M 160 M 160 M
Net Debt 2020 17 495 M 4 225 M 4 225 M
P/E ratio 2020 35,2x
Yield 2020 2,59%
Capitalization 24 391 M 5 887 M 5 890 M
EV / Sales 2020 1,74x
EV / Sales 2021 1,63x
Nbr of Employees 12 976
Free-Float 62,8%
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Number of Analysts 24
Average target price 3,75 MYR
Last Close Price 2,66 MYR
Spread / Highest target 91,7%
Spread / Average Target 41,0%
Spread / Lowest Target 16,5%
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NameTitle
Jamaludin bin Ibrahim President, Group CEO, Director & Managing Director
Ghazzali Abdul Khalid Chairman
Vivek Sood Group Chief Financial Officer
Amandeep Singh Group Chief Technology Officer
Nirmal Anthony Rodrigo Group Chief Information Officer
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