Maxis’ proposal to raise up to MYR5bn in Islamic MTN/sukuk is timely to address its capex needs and alleviate potential constraints on its cashflow. We make no change to our forecast, NEUTRAL recommendation and MYR6.50 TP (WACC: 7.6%, 0.3% upside). The rising competitive intensity and GST fallout could derail its revenue recovery momentum. We prefer Digi for exposure to the sector.
Source: RHB Research - 18 Jun 2015
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MAXISCreated by kiasutrader | Jun 14, 2016
Created by kiasutrader | May 05, 2016