Key Indices
Top Stories
Sector Update | Telecommunications
- 2Q26 sector earnings came in within expectations, despite core earnings moderating 7% yoy and 19% qoq. TIME and Maxis delivered strong earnings while Axiata suffered from forex headwinds and elevated withholding tax expenses. The quarter was characterised by: a) a 2% yoy service revenue growth, driven by market-wide pricing revision; b) cost discipline; c) encouraging enterprise demand; and d) robust home fibre growth. Maintain MARKET WEIGHT. Top picks: Maxis and CelcomDigi.
Company Update | Westports Holdings (WPRTS MK/HOLD/RM6.83/Target: RM6.50)
- The ports industry has shown that resilience is about adaptation. This underscores the sector’s outperformance against the market since 2025. 2H26 will test the ports’ resiliency again: global port congestion hit an all-time high as typhoons caused repeated port shutdowns in China. WPRTS is adapting well in managing its yard density. Channel checks indicated that Port Klang’s yard density eased from the 90-95% peak in end-Jul 26 to 80% by mid-Aug 26. Retain HOLD and target price of RM6.50.
Market Spotlight
- The FBMKLCI continued to slide by 7.03pt to close at 1,708.10 last Friday amid persistent selling pressure across index counters.
- US stocks were lower after the close on Friday, as losses in the Consumer Goods, Telecoms and Healthcare sectors led shares lower.
Tehnical Analysis
FBMKLCI, FCPO & FKLI Index Outlook
Traders’ Corner
Gagasan Nadi Cergas | GNCB MK
- Trading Buy Range: RM0.335-0.34
NCT Alliance | NCT MK
- Trading Buy Range: RM0.58-0.585
Pantech Group Holdings | PGHB MK
- Trading Buy Range: RM0.665-0.67
Top Stories
Sector Update | Telecommunications
- 2Q26 sector earnings came in within expectations, despite core earnings moderating 7% yoy and 19% qoq. TIME and Maxis delivered strong earnings while Axiata suffered from forex headwinds and elevated withholding tax expenses. The quarter was characterised by: a) a 2% yoy service revenue growth, driven by market-wide pricing revision; b) cost discipline; c) encouraging enterprise demand; and d) robust home fibre growth. Maintain MARKET WEIGHT. Top picks: Maxis and CelcomDigi.
Company Update | Westports Holdings (WPRTS MK/HOLD/RM6.83/Target: RM6.50)
- The ports industry has shown that resilience is about adaptation. This underscores the sector’s outperformance against the market since 2025. 2H26 will test the ports’ resiliency again: global port congestion hit an all-time high as typhoons caused repeated port shutdowns in China. WPRTS is adapting well in managing its yard density. Channel checks indicated that Port Klang’s yard density eased from the 90-95% peak in end-Jul 26 to 80% by mid-Aug 26. Retain HOLD and target price of RM6.50.
Market Spotlight
- The FBMKLCI continued to slide by 7.03pt to close at 1,708.10 last Friday amid persistent selling pressure across index counters.
- US stocks were lower after the close on Friday, as losses in the Consumer Goods, Telecoms and Healthcare sectors led shares lower.
Tehnical Analysis
FBMKLCI, FCPO & FKLI Index Outlook
Traders’ Corner
Gagasan Nadi Cergas | GNCB MK
- Trading Buy Range: RM0.335-0.34
NCT Alliance | NCT MK
- Trading Buy Range: RM0.58-0.585
Pantech Group Holdings | PGHB MK
- Trading Buy Range: RM0.665-0.67
Key Indices
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This report is provided subject to, and must be read together with, the full Disclosures / Disclaimers available at this link, which are incorporated by reference into this report. In particular, this report is intended for general circulation and informational purposes only and does not constitute personal investment advice or a recommendation to buy or sell any investment product or security. You should independently evaluate the information and, where necessary, seek advice from a qualified financial adviser regarding the suitability of any investment. Analyst certifications required under applicable regulations, including SEC Regulation AC (where relevant), are included in this report. By accessing, receiving or using this report, you acknowledge that you have read, understood and agreed to be bound by the Disclosures / Disclaimers, as may be amended, supplemented or updated from time to time.
