KUALA LUMPUR: Telekom Malaysia Bhd (TM) is likely to participate in the tender of the 700 megahertz (MHz) spectrum, said PublicInvest Research in its report today. PublicInvest said assuming TM secures a two-block of 2x5MHz, it would have to fork out some RM1 billion for the new spectrum. Stripping out forex impact on international trade settlement and long-term loans as well as other non-operational items, normalised net profit was down two per cent to RM203.5 million. For the nine-month period, TM’s normalised net profit of RM643.1 million was within expectations, making up about 76 per cent and 75 per cent of PublicInvest’s and consensus full year estimates respectively. PublicInvest has maintained its “neutral” stance on TM with an unchanged target price of RM6.

Source: New Strait Times November 23, 2017 01:30 UTC