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F Apex cuts Telekom Malaysia
(4863.KU) to Hold from Buy after shares have gained 27% so far this year and 2Q
net profit rose 65% on year to MYR223 million, which was within expectations.
The house keeps its target at MYR6.15 and tips further upside potential of 2.7%.
"We like the company for its leadership in broadband with earnings growth driven
by UniFi," it says.
However, it flags slower net additions following intense
competition in the fiber-to-home broadband segment could be a cause of concern.
Shares are 1.5% higher at MYR6.08.
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