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Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
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Maxis Likely to Lead Second 5G Network Rollout

Maxis Bhd could emerge as the likely winner of the spectrum for Malaysia’s second 5G network, according to CIMB Research. The research house believes that the government may prefer a government-linked company to spearhead the rollout at Digital Nasional Bhd (DNB), positioning Maxis as the leading contender.


CIMB noted that while CelcomDigi Bhd (CDB), Maxis, and U Mobile are the final contenders, Telekom Malaysia (TM) may have become ineligible following the termination of its share subscription agreement (SSA) with DNB in August. YTL Power International Bhd completed its SSA with DNB but did not submit a tender application.

CIMB expects the Malaysian Communications and Multimedia Commission (MCMC) to announce a sole winner, with the winning telco likely forming partnerships or lease agreements with other telcos to share the rollout costs and balance 5G traffic between DNB and Entity B.

CIMB speculates that Maxis may emerge as the winner, though a potential CDB-YTL partnership could provide a competitive counterweight to a Maxis-U Mobile collaboration. A winning telco’s stock price may see an immediate boost, while other telcos may experience a decline.

The second 5G network is expected to offer better quality of service compared to DNB, aligning more closely with the winning telco’s existing network grid for smoother transitions between 2G, 4G, and 5G networks.

CIMB also anticipates the upcoming announcement will bring an end to the single wholesale network saga, resolving regulatory uncertainties in the sector.

CIMB maintains an "overweight" call on the sector, with CDB ("buy", target price: RM4.20) and Maxis ("buy", target price: RM4.15) as its top picks. Maxis shares were trading down 1% at RM3.90 at the time of writing.

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