Improving cash-flow dynamics likely for telcos


The DNB overhang is the dominant structural issue.

PETALING JAYA: The telecommunications (telecoms) sector is heading into 2026 with modest revenue growth but improving cash-flow dynamics, as structural pressures from 5G and Digital Nasional Bhd (DNB) are gradually counterbalanced by tighter cost control, slower capital expenditure (capex) and rising contributions from fibre, enterprise and data-centre services.

From a regional perspective, Malaysia is expected to remain a low-growth but stable market.

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