[%RCAp%] 
Research by Kenanga
OUTPERFORM– TP RM 3.00

" Prepaid ARPU Traction Powered by AI”

XL is optimistic of sustained traction in its prepaid ARPU and subscriber expansion. This is underpinned by: (i) minimal churn from high-quality customers, (ii) personalized marketing powered by artificial intelligence (AI) on XL’s app, and (iii) ongoing implementation of AI-guided dynamic pricing in selected regions. We maintain our forecasts, TP of RM3.00 and OUTPERFORM call.. 

Analyst:
Kylie Chan Sze Zan 
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$KLSE-AXIATA 
Research by Kenanga
OUTPERFORM– TP RM 3.00

" Prepaid ARPU Traction Powered by AI”

XL is optimistic of sustained traction in its prepaid ARPU and subscriber expansion. This is underpinned by: (i) minimal churn from high-quality customers, (ii) personalized marketing powered by artificial intelligence (AI) on XL’s app, and (iii) ongoing implementation of AI-guided dynamic pricing in selected regions. We maintain our forecasts, TP of RM3.00 and OUTPERFORM call.. 

Analyst:
Kylie Chan Sze Zan 
kyliechan@kenanga.com.my