Telcos fall ahead of plan for telco spectrum


Free package: Celcom may be seen as keeping up with rival Maxis Bhd, which last year had begun offering free voice and SMS for its Maxis OnePlan users

KUALA LUMPUR: Malaysia’s telco players Maxis, Axiata and DiGi fell in late Thursday trade on news about the Government’s plan for the telecommunications spectrum soon.

At 3.57pm, Maxis fell 35 sen to RM6.25 with 10.14 million shares done, Axiata was down 32 sen to RM5.79 with 15.5 million shares traded.

DiGi lost 23 sen to RM4.87 with 18.32 million shares traded.

The fall in the telcos, which are part of the FBM KLCI component stocks, restrained the advance of the index.

Under the revision of the Budget 2016 announced by Prime Minister Datuk Seri Najib Tun Razak at midday on Thursday, the Government will optimise the revenue from the telecommunication spectrum through a redistribution and bidding process which will be implemented soon.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Gamuda posts higher Q3 earnings
Xin Hwa reprimanded, two directors fined RM150,000
EcoWorld Malaysia registers strong sales, higher earnings in Q2�
Ekuinas records strong investment returns for 2020
FBM KLCI closes at year's low
China says it will take necessary measures to safeguard Chinese firms' interests
Astro signs Netflix as new streaming partner
Boustead's three-pronged strategy to reinvent itself
Oil gains as draw in U.S. crude stocks reinforces outlook for robust demand
Singapore files 105 new charges against oil trader Hin Leong founder O.K. Lim

Stories You'll Enjoy


Vouchers