Telekom Malaysia Bhd could be hit by severance expenses for a voluntary scheme in the final quarter though the lower staff costs could boost profits in the coming years, analysts say.
“We believe better-than-expected take-up of VSS will hit 2025 results” but lead to higher profits in 2026 and 2027, CGS International said in a note and kept Telekom Malaysia on an ‘add’ rating.
Telekom Malaysia also disclosed that the company had received a “significant” number of VSS applications from employees which will have a “positive impact on its long-term productivity”.
Shares of Telekom Malaysia rose on Tuesday, climbing as much as 19 sen or nearly 3% to RM7.44 as investors reacted to a set of stronger-than-expected results and analysts raised their earnings forecasts.
Unifi’s retail broadband improved in the third quarter supported by higher average revenue per user and subscribers while the wholesale business under TM Global saw strong growth from demand for cross-border connectivity and advanced data services.
“We believe TM Global will be a key pillar of growth given the country’s expansion of network infrastructure, broadband and international bandwidth to position itself as a digital hub for the region,” Public Investment Bank added.
Article excerpted from a report by The Edge.
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