Telco sector’s FY2024 earnings to be slightly negative

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PETALING JAYA: AmInvestment Bank Bhd forecasted that the telecommunications sector’s earnings trajectory for the financial year 2024 would be slightly negative due to lower profit and stiff mobile competition.

However, the investment bank maintained a ‘neutral’ call for the sector amid cautious mode due to uncertainties about the progress of the 5G dual wholesale network’s business plan, a lack of growth drivers, and high operational costs resulting from ongoing tech refresh and site modernisation exercises.“There could also be regulatory risks as the government pushes for lower-priced mobile connectivity,” it said in a research note.

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