AXIATA GROUP BERHAD
KLSE (MYR): AXIATA (6888)
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Last Price
2.35
Today's Change
+0.01 (0.43%)
Day's Change
2.30 - 2.36
Trading Volume
4,669,400
Details of Changes
Securities After Change
Transactions
| Ann. Date | Name | Details of Changes | Securities After Changes | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Date | Type | No. of Shares | Price | Direct (%) | Indirect (%) | Total (%) | ||||
Discussions
9 people like this. Showing 50 of 2,037 comments
Axiata is at the 38th position in terms of market capitalization. It will still be included in the KLCi constituents. In the midyear 2025 review, I think AMBANK will replace MRDIY.
2025-04-02 17:45
Will kick out from KLCI? Unlikely kot because Axiata is one of the nation assets
2025-04-10 09:53
BUY
Share Price MYR 2.10
12m Price Target MYR 3.00 (+46%)
Previous Price Target MYR 3.20
Company Description
Axiata Group owns a portfolio of mobile telcos,
network infrastructure and digital internet
companies in 10 countries across Asia.
Statistics
52w high/low (MYR)
3m avg turnover (USDm)
Free float (%)
Issued shares (m)
Market capitalisation
Major shareholders:
Khazanah Nasional Bhd. (Investment Compa Employees Provident Fund
Permodalan Nasional Bhd.
Price Performance
3.40
3.20
3.00
2.80
2.60
2.40
2.20
2.00
2.91/2.05
2.4
44.1
9,182
MYR19.3B
USD4.4B
36.7%
16.9%
16.6%
2 months ago
A consortium made up of Khazanah Nasional Bhd and the Employees Provident Fund (EPF) is believed to be looking at acquiring Axiata Group Bhd’s (KL:AXIATA) 63% stake in telecommunications tower infrastructure company Edotco Group Sdn Bhd.
This comes after years of talk that Axiata would monetise its investment in Edotco, whether through a public listing or an outright sale. The latest development points to the latter.
“Khazanah is creating a consortium with EPF to buy Axiata’s stake in Edotco. This will help Axiata pare down its debts,” says a person with knowledge of the plan.
Khazanah and EPF had not replied to The Edge’s queries at press time.
According to Axiata’s 2023 annual report, Khazanah is the largest shareholder of the group, with a 36.72% stake as at end-March 2024. It is followed by Permodalan Nasional Bhd (18.34%) and EPF (18.13%).
Axiata planning to sell its stake in Edotco is not a recent development. There has been talk of an initial public offering since 2018. In 2020, Axiata’s then president and group CEO Tan Sri Jamaludin Ibrahim said the listing of Edotco could take place in the next three to five years.
This time, amid uncertainty surrounding US President Donald Trump’s reciprocal tariffs on imported goods that rocked the capital markets, the listing route may not be a good idea.
In 2022, the political upheaval in Myanmar posed a challenge to Axiata’s plan to list Edotco. Its then president and group CEO Datuk Izzaddin Idris said it would be a bit of a challenge to list the telecom tower infrastructure company as long as the Myanmar operation was part of its portfolio.
“I think the bigger issue for me and the Edotco team is Myanmar — how that would be addressed if we were to seek a listing in any of the markets. Some markets may take a different view from the other more developed markets,” he told the media in February 2022.
This is also not the first time EPF has been associated with Axiata’s stake in Edotco. In November 2023, The Edge reported that the provident fund was considering purchasing a stake in Edotco as Khazanah and Innovation Network Corp of Japan (INCJ) were looking to exit the company.
However, INCJ sold its 21% stake in Edotco to Khazanah last month. This increased the sovereign wealth fund’s direct stake in the telecom tower infrastructure company to 32%, on top of its shareholding through Axiata.
If Axiata were to sell its 63% stake in Edotco to the Khazanah-EPF consortium, it would mean that the provident fund would have to write a bigger cheque to raise its stake to 50%. Khazanah would only have to acquire 18% of Edotco.
INCJ invested in Edotco back in 2016, with a maximum investment of US$400 million. Back then, the latter directly operated 17,100 towers, while a further 8,100 towers were managed through a range of services provided by the company. Today, Edotco has a total portfolio of more than 58,000 telecom towers in nine countries across Asia — Malaysia, Bangladesh, the Philippines, Indonesia, Cambodia, Pakistan, Myanmar, Sri Lanka and Laos.
This shows that Edotco had more than doubled in size between 2016 and 2025. While the valuation was not disclosed by INCJ and Khazanah when they announced the deal, some observers say Edotco’s valuation is about US$3.5 billion. If this is true, the 63% stake in Edotco will net Axiata US$2.21 billion.
2 months ago
A solid year overall
In line with consensus
Axiata’s 4Q24 results were slightly below our expectations, but in line with
consensus, with the miss due to higher-than-expected tax. Gearing
remained stable, and Axiata delivered on its 10sen DPS commitment. We
continue to view Axiata’s overall risk-reward favourably, with sequential
net profit recovery and balance sheet repair being potential re-rating
catalysts. Maintain BUY with a lower SOP-based TP of MYR3.00 (-6%).
Results slightly below our forecasts
Axiata’s 4Q24 core net profit of MYR143m (-50% YoY, -37% QoQ) brings FY24
core net profit to MYR694m (+28% YoY), 7% below our forecasts but 1%
above consensus respectively. EBITDA was in line with our forecast, with
the miss due mainly to higher-than-expected tax expense. Net debt-to-
EBITDA remained stable at 2.7x at end-4Q24 (from 2.6x in end-3Q24),
despite a stronger USD. A 5sen DPS was declared in the quarter, bringing
FY24 DPS to 10sen, in line with guidance.
CelcomDigi and XL disappointed
Among the mobile op-cos, XL underperformed relative to our net profit
forecasts, while Dialog and Robi outperformed. During the quarter, XL’s
EBITDA was merely stable QoQ as concerns over competition resurfaced.
Dialog posted sequential EBITDA growth having benefitted from cost
rescaling and merger synergies. Robi posted sequential EBITDA decline on
the back of weak macro conditions. Edotco continues to underspend on
capex. CelcomDigi’s results had earlier missed our expectations.
Revising earnings; potential upside risk to dividends
For FY25, management is guiding for high-single digit EBIT growth
(constant currency basis). We lower our FY25E/26E net profit forecasts by
15%/22% respectively to reflect latest run rates and introduce FY27E
forecasts. Our TP (derived from a sum-of-parts with each op-co valued on
DCF) is lowered to MYR3.00 (from MYR3.20). Axiata remains committed to
a minimum 10sen DPS annually. The recent phase of capex discipline could
present upside risk to dividends.
FYE Dec (MYR m) FY23A FY24A FY25E FY26E FY27E
Revenue 23,489 22,335 22,783 23,413 24,076
EBITDA 10,560 11,129 11,359 11,535 11,722
Core net profit 542 694 1,002 1,235 1,464
Core EPS (sen) 5.9 7.6 10.9 13.5 15.9
Core EPS growth (%) (65.8) 28.0 44.4 23.2 18.5
Net DPS (sen) 10.0 10.0 10.0 10.0 10.0
Core P/E (x) 40.3 32.9 19.2 15.6 13.2
P/BV (x) ROAE (%) ROAA (%) EV/EBITDA (x) 1.0 1.1 0.9 0.9 0.9
Net dividend yield (%) 4.2 4.0 4.8 4.8 4.8
(8.7) 4.4 5.4 6.4 7.3
0.7 0.9 1.3 1.7 1.9
5.7 5.3 4.8 4.7 4.6
Net gearing (%) (incl perps) 114.5 106.5 104.2 99.6 93.3
Consensus net profit - - 931 1,081 na
MIBG vs. Consensus (%) - - 23.9 28.3 na
Tan Chi Wei, CFA
chiwei.t@maybank
2 months ago
Baru2 ni, epf tambah syer axiata macam tiada hari esok 😍 <%-- for fixing scrollbar--%>
Save Print Back
6888 AXIATA AXIATA GROUP BERHAD
Changes in Sub. S-hldr's Int (Section 138 of CA 2016)
Particulars of Shareholder
Name : EMPLOYEES PROVIDENT FUND BOARD
NRIC/Passport No./Company No. : EPF ACT 1991
Nationality/Country of Incorporation : Malaysia
Address:
5th Floor, EPF Tower No. 1, Persiaran Kwasa Utama 40150 Shah Alam Selangor
Malaysia
Descriptions (Class and Nominal Value):
Ordinary Shares
Name and Address of Registered Holder:
You are advised to read the entire contents of the announcement or
attachment. To read the entire contents of the announcement or attachment,
please access the Bursa website at http://www.bursamalaysia.com
Details of Changes
Date of Notice : 28/04/2025
Transactions:
No. Date Transaction Type No of Shares Price (RM)
1. 25/04/2025 Acquired 124,200 -
2. 25/04/2025 Acquired 150,000 -
Circumstances by reason of which change has occurred:
1. Citigroup EPF Board - Acquisition of 150,000 shares2. Citigroup EPF
Board-IC - Acquisition of 124,200 shares
Nature of Interest:
Direct Interest
Consideration:
No of Shares Held After Changes:
Direct : 1,619,195,480 shares (17.6280%)
Total : 1,619,195,480 shares
Remarks:
You are advised to read the entire contents of the announcement or
attachment. To read the entire contents of the announcement or attachment,
please access the Bursa website at http://www.bursamalaysia.com
Submitted By:
30/04/2025 07:00 AM
Ref Code: 202504303600525
2 months ago
Axiata Group
Axiata: Net profit and assumption changes
Revised (MYR m) Net profit FY25E FY26E Revenue 22,783 23,413 1,002 1,235 Main assumption changes:
Revenue growth EBITDA margin 2.0% 2.8% 49.9% 49.3% Previous FY25E FY26E 23,747 24,463 1,173 1,574 3.1% 3.0%
49.8% 49.5%
% change
FY25E FY26E
-4% -4%
-15% -22%
Source: Maybank IBG Research
Axiata: Target price derivation
(MYR m) Value Stake Attri. value per share %
Malaysia 44,566 33% 14,752 1.61 54%
Indonesia 11,350 61% 6,978 0.76 25%
Bangladesh 7,975 62% 4,929 0.54 18%
Sri Lanka 2,352 83% 1,960 0.21 7%
Nepal
Cambodia 7,612 73% 5,519 0.60 20%
Linknet -2,700 92% -2,478 -0.27 -9%
Edotco 5,167 63% 3,255 0.35 12%
Digital businesses 1,898 0.21 7%
Residual net cash -9,270 -1.01 -34%
Total equity value 27,541 3.00 100%
Source: Maybank IBG Research
2 months ago
😍😍😍😍2025-05-05
Insider
EMPLOYEES PROVIDENT FUND BOARD (a substantial shareholder) acquired 255,100 shares on 29-Apr-2025.
2025-05-05
Insider
EMPLOYEES PROVIDENT FUND BOARD (a substantial shareholder) acquired 187,800 shares on 29-Apr-2025.
2025-05-05
Insider
EMPLOYEES PROVIDENT FUND BOARD (a substantial shareholder) acquired 326,400 shares on 28-Apr-2025.
2025-05-05
Insider
EMPLOYEES PROVIDENT FUND BOARD (a substantial shareholder) acquired 124,200 shares on 28-Apr-2025.
2 months ago
BUY3 :)
Axiata Group - XL Earnings Deconsolidation Risk; Still BUY
Date:
2025-03-20
Firm:
RHB
Stock:
AXIATA
Price Target:
3.20
Price Call:
BUY
Last Price:
2.10
Upside/Downside:
+1.10 (52.38%)
Firm:
RHB-OSK
Stock:
CDB
Price Target:
4.30
Price Call:
BUY
Last Price:
3.81
Upside/Downside:
+0.49 (12.86%)
Still BUY and MYR3.20 TP (SOP), 80% upside, 5.6% yield. We see earnings dilution concerns over XL Axiata (XL; EXCL IJ, BUY, TP: IDR2,950) as likely priced in post a sharp 29% sell-down YTD to near Global Financial Crisis lows. Forward EV/EBITDA valuation is near -2SD of historical mean. The key narrative remains balance sheet deleveraging, earnings recovery, and operational excellence. Our TP incorporates a 2% ESG premium. Key risks: Competition, weaker-than-expected earnings, and merger synergies.
Merger on track, EGMs upcoming. Axiata Group hosted a conference call yesterday ahead of its EGM for shareholders (24 Mar) to vote on the XL and Smartfren (FREN IJ, NR) merger. The EGM for XL and FREN shareholders is on 25 Mar. Recap: Post the merger, Axiata and Sinarmas Group will have joint control of MergedCo (renamed XL Smart Telecom or XLS) with equal 34.8% stakes. The merger is on track for a mid-2025 completion, with approvals in principal given by Indonesia's Communications Ministry and Financial Services Authority. XLS will be led by ex-Robi Axiata CEO Rajeev Sethi.
While the merger rationale and strategic intent are well acknowledged (ie scale benefits, market price repair, and financial resilience), we think market concerns will likely hinge on the risks from XL's earnings deconsolidation (from majority control to associate) at group level. On proforma earnings (assuming the merger had been in effect in 2024), Axiata's reported PATAMI is set to see a 34% decline to MYR627m from MYR947m. This assumes the deconsolidation of XL's FY24 PATAMI (MYR355m), interest savings of MYR82m (proceeds from the share equalisation used to repay group debt), intercompany elimination with Linknet (MYR105m), and associate contributions from XLS (MYR55m). Assuming FREN's FY24 LATAMI of IDR1.29tn (-MYR374m) is kept (erring on the conservative) for FY25F-26F and using our current FY25-26F core earnings for XL, we estimate Axiata's FY25F-26F core earnings will be lowered by 9-14% (pre-synergies and integration costs), all else being equal. We make no changes to our forecasts pending merger completion and fresh management guidance.
Axiata previously guided USD300-400m pa in pre-tax synergies post-merger. Akin to the Celcom-DiGi.Com merger - now CelcomDigi (CDB MK, BUY, TP: MYR4.30) - we think much of the synergies will only materialise after Year 2 (backloaded), with integration costs (headcount, network integration, etc) set to impact MergedCo's medium-term operational earnings. Substituting our current SOP valuation on XL (66.5% stake) with the implied MergedCo valuation of MYR16.2bn (5.4x EV/EBITDA; assuming MYR2.1bn proceeds from FREN'S share equalisation used to pare debts), our implied pre-synergy SOP on Axiata would be lowered by 2% to MYR3.15 (still based on a 20% holding company discount).
Source: RHB Research - 20 Mar 2025
2 months ago
Most Asian stock markets rose on Tuesday, led by Chinese shares, as optimism over potential U.S.-China trade talks boosted sentiment
2 months ago
S. stock futures rose late on Tuesday after it was announced that Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer would meet with China’s top economic official later this week in Switzerland.
2 months ago
YANG NI JADI, JUMP TO rm2.5 *& ABOVE... SABAR YA... Axiata’s Tower Arm Edotco Weighs RM2.7b Stake Sale, Sources Say
6 days ago · Axiata postponed talks to sell a partial stake in edotco last year, after a military coup in Myanmar triggered concerns over heightened investment risks, Bloomberg News has reported.
2 months ago
INSIDERS TAHU TERDAHULU
Tuesday, 6 May 2025
6:39PM
AXIATA EMPLOYEES PROVIDENT FUND BOARD (348,100 units Transacted)
Monday, 5 May 2025
6:29PM
AXIATA EMPLOYEES PROVIDENT FUND BOARD (450,600 units Acquired)
6:29PM
AXIATA EMPLOYEES PROVIDENT FUND BOARD (442,900 units Acquired)
Wednesday, 30 Apr 2025
6:32PM
AXIATA EMPLOYEES PROVIDENT FUND BOARD (274,200 units Acquired)
Tuesday, 29 Apr 2025
6:00PM
AXIATA EMPLOYEES PROVIDENT FUND BOARD (6,000,000 units Acquired)
Monday, 28 Apr 2025
6:58PM
AXIATA General Meetings: Notice of Meeting
6:03PM
AXIATA EMPLOYEES PROVIDENT FUND BOARD (1,017,200 units Acquired)
Friday, 25 Apr 2025
6:58PM
AXIATA EMPLOYEES PROVIDENT FUND BOARD (300,000 units Acquired)
Thursday, 24 Apr 2025
7:04PM
AXIATA EMPLOYEES PROVIDENT FUND BOARD (2,034,300 units Transacted)
2 months ago
Closed at 2.11... Back to 2.9++ last year almost same as TP price at 3 by maybank
2 months ago
So pessimistic, CIMB ?
https://www.nst.com.my/business/corporate/2025/05/1216889/analysts-expect-axiatas-core-earnings-remain-subdued-until-fy2027
1 month ago
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
hotsauce1924
I guess short seller kena squeeze panic short covering now...
2025-03-26 13:26