KUALA LUMPUR, June 1 — Telekom Malaysia Bhd’s shares on Bursa Malaysia traded weaker in the early session today after the company delivered a soft first quarter (Q1) result.
As at 11.38 am, the counter slipped 30 sen to RM6.98, amid the bearish performance of the benchmark index, with 3.71 million shares changing hands.
Despite the result being slightly below expectations, AllianceDBS Research views TM’s operating statistics as positive, in adding 28,000 new Unifi during the quarter, taking its subscriber base to 757,000.
“Streamyx also reversed its subscriber loss in previous quarters with a gain of 7,000 in the first quarter,” it said in a research note today.
The research firm, has however, has downgraded its call on the national telecommunications provider to “hold” from a “buy”. — Bernama
