According to AmBank Research, competition in the local cellular telco segment is expected to remain intense over the medium term, as repackaged data plans make their way to the market while the fixed broadband segment is expected to see rising pressure to improve price and speed.
PETALING JAYA: Telecommunications companies (telcos), led by Telekom Malaysia Bhd
(TM) and sister company Axiata Group Bhd, were the biggest drag on the stock market as investors continue to fret over their earnings outlook.
The FBM KLCI tumbled 16 points, or almost 1%, to close at 1,678 points – its lowest level since January 2017.
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