KLSE (MYR): TM (4863)
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6.35
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BingBang
119 posts
Posted by BingBang > 2018-07-03 12:48 | Report Abuse
TM's YTD has suffered from 6.05 at opening early this year to lowest 3.00 which is already halved its share price value. An anticipated 25% reduction in Broadband pricing is enforceable by year end has been priced in with such steep discount. Bear in mind that TM is still very profitable without any losses ever. Stable RECURRING business of ISP virtually GUARANTEEING its DIVIDEND policy commitment.
Honestly, there are plenty of room for upside and it easily able to cushion any price wars against its competitors but as I've thought it out that BANKS, FINANCIAL INSTITUTIONS (Stockbrokers, etc), CORPORATIONS (MNC, etc), UNIVERSITIES, GOVERNMENT AGENCIES (Defence, etc) and those entities that require stable & reliable internet services rather than MOBILE INTERNET to run their daily operations. Do u see banks or financial institutions that require STABLE and INTENSIVE internet usage choose to use MOBILE INTERNET from the other telcos or CABLED ISP like TM? There are a lot of reasons that traditional Cabled ISP like TM will remain relevant.
Another thing to think about is that the new PH government's promised manifesto to push for DOUBLED THE SPEED and HALVED THE PRICE of Broadband nationwide. That will require the country SOLE CABLED ISP BACKBONE that's TM to being the only ISP that is able to DOUBLE the Broadband speed because it requires miles of FIBRE OPTIC cables in order to achieve that kind of speed while other telcos bandwidth offerings are constrained by their allocated bandwidth by the Comm. Ministry as seen in the past. It will still need the HARDWARE "CABLES" to achieve it.
TM's margins may not be overly affected by the soon to be imposed 25% reduction of BB pricing because TM may just keep its current customer base by UPGRADING the BB SPEED for FREE or with a SMALL FEES. That's still complying with the Comm Ministry's for a reduction in pricing but only with TM's own twist of strategy.