[%ffzj%] 
Research by Public
Neutral – TP RM3.90

"Stable Growth”

Maxis Bhd (Maxis) posted a 7.9% increase in 2QFY24 net profit to RM356m, mainly driven by higher postpaid, home-fibre and enterprise revenue through the offering of attractive plans, bundle deals and fixed connectivity services. For 1HFY24, net profit of RM709m came in within expectations, accounting for 51% and 50% of our and consensus full-year estimates respectively. Being a leading integrated telco player, Maxis remains steadfast with its strategy to grow the mobile, fibre and enterprise business. Thus far, we have observed positive traction in these segments. Our earnings forecasts remain unchanged. Maintain Neutral on Maxis with an unchanged TP of RM3.90. A second interim dividend of 4.0sen per share was declared (1QFY23: 4.0sen per share).

Analyst:
Eltricia Foong
[%uVEM%]

$KLSE-MAXIS 
Research by Public
Neutral – TP RM3.90

"Stable Growth”

Maxis Bhd (Maxis) posted a 7.9% increase in 2QFY24 net profit to RM356m, mainly driven by higher postpaid, home-fibre and enterprise revenue through the offering of attractive plans, bundle deals and fixed connectivity services. For 1HFY24, net profit of RM709m came in within expectations, accounting for 51% and 50% of our and consensus full-year estimates respectively. Being a leading integrated telco player, Maxis remains steadfast with its strategy to grow the mobile, fibre and enterprise business. Thus far, we have observed positive traction in these segments. Our earnings forecasts remain unchanged. Maintain Neutral on Maxis with an unchanged TP of RM3.90. A second interim dividend of 4.0sen per share was declared (1QFY23: 4.0sen per share).

Analyst:
Eltricia Foong
eltriciafoong@publicinvestbank.com.my