KUALA LUMPUR (Feb 25): Analysts have maintained positive calls on Telekom Malaysia Bhd (TM) after the integrated telecommunications company registered firm results for the financial year ended Dec 31, 2020 (FY20).
TM, in a filing with Bursa Malaysia on Wednesday, said its net profit for FY20 rose to RM1.02 billion compared with RM632.68 million in FY19.
Its fourth quarter of FY20 (4QFY20) net profit stood at RM259.4 million against a net loss of RM51.1 million in the previous corresponding quarter, boosted by lower operating costs and other gains.
Kenanga Research, in a note on Thursday, upgraded the company to “outperform” from “market perform” call with an unchanged discounted cash flow-target price (DCF-TP) of RM6.85.