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Research by Kenanga
OUTPERFORM – TP RM7.53

" Termination of Share Sale Agreement”

TM received a termination notice from Digital Nasional Berhad (DNB) for the Share Subscription Agreement (SSA) signed on 1 Dec 2023. From a positive standpoint, not having equity ownership in either 5G networks could allow TM to allocate more resources to its core fixed connectivity business. We maintain our forecasts, TP of RM7.53 and OUTPERFORM call.

Analyst:
Kylie Chan Sze Zan 
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$KLSE-TM
Research by Kenanga
OUTPERFORM – TP RM7.53

" Termination of Share Sale Agreement”

TM received a termination notice from Digital Nasional Berhad (DNB) for the Share Subscription Agreement (SSA) signed on 1 Dec 2023. From a positive standpoint, not having equity ownership in either 5G networks could allow TM to allocate more resources to its core fixed connectivity business. We maintain our forecasts, TP of RM7.53 and OUTPERFORM call.

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