KUALA LUMPUR: RHB Research Institute is maintaining its Neutral call on Axiata with an unchanged sun-of-parts fair value of RM6.50.
“We remain concerned over (Indonesia operations) XL's aggressive capex ambitions, which have yet to produce the desired returns from data. Hence, we believe earnings growth for XL remains challenging and therefore, growth for Axiata will likely moderate in 2013,” it said on Wednesday.
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