Competition heats up

CGS-CIMB Research reiterated its “neutral” call on the telco sector; and said its top pick is TM (“add” call with target price of RM7.50).

PETALING JAYA: The telecommunications sector is seeing tight competition in the mobile postpaid arena, according to CGS-CIMB Research.

The research unit pointed out that besides the already rich quotas, telecommunications companies are engaged in limited-time mid-end sub-acquisition and retention initiatives in September and November.