Maxis in strong Q3 showing

Maxis Berhad's operating cash flow rose 4.4 per cent to RM1.1 billion for the quarter ending September 30. —Reuters pic
Maxis Berhad's operating cash flow rose 4.4 per cent to RM1.1 billion for the quarter ending September 30. —Reuters pic

KUALA LUMPUR, Oct 24 — Maxis Berhad recorded positive numbers across the board for the third quarter of 2019, with increases in service revenue and subscriber numbers while ramping up fibre optic connectivity. 

Its operating cash flow rose 4.4 per cent to RM1.1 billion for the quarter ending September 30. It declared a third interim dividend of 5 sen per share. 

According to a statement issued today, the telco recorded a 1.1 per cent increase in service revenues amounting to RM1.94 billion.

It added 128,000 postpaid customers for a total of 3.2 million users, contributing to an increase of RM7 million in revenue quarter-on-quarter.

Prepaid revenue rose RM3 million, while their smartphone app, MyMaxis, saw an adoption increase of 46 per cent.

Capital expenditure for the telco increased 23.7 per cent compared to the same period in 2018, with RM242 million for the current quarter and RM636 million up to the end of Q3.

The telco also managed to increase their fibre optic high-speed internet connectivity by 34,000 connections, bringing their total to 344,000 connections nationwide. 

“We are making very good progress in our enterprise growth strategy with solid partnerships, and continuing to build a strong home fibre base in line with the recently launched National Fiberisation and Connectivity Plan (NFCP). 

“We are already forging ahead with our 5G readiness and committed to deploy as soon as spectrum is made available,” said Maxis chief executive Gökhan Ogut in the statement. 

The company also pointed out several of their initiatives in preparation of the 5G infrastructure, among them a partnership to provide connectivity and solutions for Malaysia’s first 5G township for Gamuda Land’s Gamuda Cove. 

Also highlighted was the launching of their Advanced and Intelligent (AI) network, aimed at building 5G -ready infrastructure that is developed in-house, to complement the recent inking of a partnership between them and Chinese tech giants Huawei. 

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