KUALA LUMPUR, Jan 6 ― Maybank Investment Bank has set a neutral call on the telco industry following the government’s decision to review its fifth-generation network rollout model.
“Just when we thought the move to a single government-owned 5G wholesale network was inevitable, the Communications and Multimedia Ministry surprised the market last month its willingness to review its 5G position, with a decision to be made in Jan 2022. The investment bank noted that as the government is still dealing with the flood situation, there might be a delay in the review outcome.In the meantime, Maybank IB named TM and Axiata as its top picks, with a target price of RM7.40 and RM4.50, respectively.
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