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 Maxis - Set For Listing Again, Maxis set for US$2b listing

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Oracles99
post Jul 15 2015, 02:08 PM

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Never mind. As long as we can make money. I would be more worried if they keep on borrowing to pay dividends. They say they want to maintain their structure with optimum equity n debt. Without taking this dividend into account, those who still hold on to their shares since IPO would see their cost at $2.55. Not that bad. Other shares pay even less dividend but no one complained. Bear in mind, they paid dividend 5 times in a year n not 4 times.

This post has been edited by Oracles99: Jul 15 2015, 02:10 PM
topearn
post Jul 15 2015, 02:19 PM

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QUOTE(Pink Spider @ Jul 15 2015, 02:00 PM)
Annualised... rolleyes.gif

3.07%! Worse than FD! tongue.gif
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FD U cannot hope to earn tax-free capital gains; stock does besides if u go to thier AGMs U normally get free makan plus door gift.

SUSPink Spider
post Jul 15 2015, 02:29 PM

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This move to pay DPS<EPS is a good move

However...their shares are overpriced now... whistling.gif

RM5 would be more fairly priced if compared to DiGi brows.gif
Oracles99
post Jul 15 2015, 04:03 PM

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$5 is near IPO price of $4.75. Do u think it is possible?
Oracles99
post Jul 15 2015, 04:05 PM

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Most of the shares are overpriced if u look purely at EPS angle. This is also how the CEO of I Capital look at KLSE n comes out with a target of 1300.
Bigproblem
post Jul 16 2015, 12:19 PM

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luckily l runaway early...
kahhui_sam
post Jul 17 2015, 10:54 PM

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Any comments on GENTING 3182?
Bigproblem
post Jul 20 2015, 10:51 AM

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QUOTE(kahhui_sam @ Jul 17 2015, 11:54 PM)
Any comments on GENTING 3182?
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please comment to Genting topic, thank you
nexona88
post Jan 29 2016, 04:19 PM

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Mega Sales on Maxis brows.gif drool.gif
Oracles99
post Jan 29 2016, 08:21 PM

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Spectrum re-farming exercise – A threat to the big cap telcos? MCMC has earlier highlighted that the purpose for refarming the spectrums are to address the network congestion issue faced by the telecom as well as to narrow the gap between the big boys and smaller players. While the authority’s intention appears negative to the big cap telecom players (especially to Maxis and Celcom) at the first glance, the actual operational impact may not be severe in our view. The reasons being are: (i) Cellcos are transmitting their legacy network to SingleRAN, which allow operators to provide seamless mobile services under decent spectrums with single network, (ii) the authority is expected to ensure operators minimize network disruption during the re-farming period, thus suggesting that sudden surge in churn rate is unlikely, and (iii) new network technology may emerge to provide better spectrum management. All in, we believe that the big cap telecom players could potentially surrender some spectrums to the authority, but the impact on earnings will very much depend on the auction results should they decide to participate. Potential beneficiaries for these spectrums re-farming exercise will be Digi, U Mobile and some other smaller players given their relatively lesser spectrum in these frequencies.
Statement falling short. The short statement above, however, did not elaborate further on the details of the plan, which include: (i) spectrums involved (i.e. fixed/mobile spectrums and its frequencies), (ii) bidding process, (iii) timeframe, and (iv) bidder’s qualifications. The statement has surprised the market negatively which led to the local celcos’ share prices plunging by 4% – 8%. TM’s share price, meanwhile, was relatively stable but still lower by nearly 2% yesterday. Potential winner and loser. All the telco operators will be on the losing end should the authority impose a tender scheme under the upcoming spectrum re-farming exercise. Operators are expected to allocate additional capex if they intend to participate in the spectrum auction and thus, may leave operators no choice but to revise subscription plans in the future. On the fund raising capability front, unlike TM and Digi, both Maxis and Axiata’s latest gearing are close to their respective optimal capital structure, suggesting limited room to gear ahead. As a result, we do not discount that operators may consider raising fund through assets’ rationalisation or lowering their respective dividend payout to preserve cash moving forward. Sector de-rating may be underway. Although the government has yet to unveil the details, we believe the message could deliver a de-rating element to the sector in view of the hefty funds required ahead. While we are maintaining all our telco companies’ earnings forecast for now, pending their upcoming 4QCY15 result review, we have scaled down our fairly neutral view on the sector players’ prospect.

Source: Kenanga Research - 29 Jan 2016
Oracles99
post Jan 29 2016, 08:33 PM

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QUOTE(nexona88 @ Jan 29 2016, 04:19 PM)
Mega Sales on Maxis  brows.gif  drool.gif
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I suspect small investors have been taken for a wild ride. Among the telcos, Maxis has the least foreign shareholdings. When the fire sales (including local funds which tried to push the price lower n lower) stops, those same funds will push up the price again. Just look at Axiata. If they bid the spectrum up to 10b, there is probably not much profit anymore. Small dividends, low share price, inability to extend their network to rural areas etc will impact ASN, Tabung haji, EPF etc. In the end, it is all blood.
Oracles99
post Feb 1 2016, 10:40 PM

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What those analyst said.

1) Maxis n Axiata's gearing implies that they have problems funding the spectrum auction
- If u look at maxis record after its relisting, it has on one occasion issued a private placement of new shares to some unidentified parties collecting proceeds of RM2.3 billion. (This is the cost likely to be paid if we follow Thailand's auctioning process). Incidentally, AK himself is flush with cash after selling his power assets to 1MDB for RM8.5 billion.
So funding is not a problem for both Maxis n Axiata.

2) Maxis n Axiata would lose some of their 900MHz spectrum n are considered losers.
- The government has said they would like to see an equitable allocation of spectrum to make the playing field more level. I think this is not too bad after all. Everyone has some share.

3) Telcos would have their ability to pay dividends capped.
- The golden days of generous dividends have probably passed as our market has already matured. But I believe they are able to pay a decent dividend. The cost of spectrum would partially be passed to consumers.

- The days of irrational pricing of their products by some aspiring telcos would end i.e. the price war would end.

So, it is not the end of the world for telcos.


Oracles99
post Feb 2 2016, 09:44 AM

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From TheEdge.

Spectrum allocation goes to Celcom, Maxis, Digi, UMobile. -Spectrum allocation in the 900MHz n 1800MHZ will be reallocated among the 4 players.
ILoveLalat.net
post Feb 2 2016, 09:53 AM

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Looks like Maxis is up on bargain hunting activities.
cherroy
post Feb 2 2016, 01:07 PM

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QUOTE(Oracles99 @ Feb 1 2016, 10:40 PM)
What those analyst said.

1) Maxis n Axiata's gearing implies that they have problems funding the spectrum auction
- If u look at maxis record after its relisting, it has on one occasion issued a private placement of new shares to some unidentified parties collecting proceeds of RM2.3 billion. (This is the cost likely to be paid  if we follow Thailand's auctioning process). Incidentally, AK himself is flush with cash after selling his power assets to 1MDB for RM8.5 billion.
So funding is not a problem for both Maxis n Axiata.

2) Maxis n Axiata would lose some of their 900MHz spectrum n are considered losers.
- The government has said they would like to see an equitable allocation of spectrum to make the playing field more level. I think this is not too bad after all. Everyone has some share.

3) Telcos would have their ability to pay dividends capped.
- The golden days of generous dividends have probably passed as our market has already matured. But I believe they are able to pay a decent dividend. The cost of spectrum would partially be passed to consumers.

- The days of irrational pricing of their products by some aspiring telcos would end i.e. the price war would end.

So, it is not the end of the world for telcos.
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1. The listed entity of Maxis in the KLSE has nothing to do with AK's personal own cash.
Even AK wish to inject cash into the company, a private placement will dilute the EPS.

3. Generous and high dividend payout (near 100% of its EPS) may not sustainable as previous, if extra capex needed for bidding the specturm. This is reason why Maxis is beaten hard than other, because its high dividend payout is the main attractiveness of the share price.

Price war is more about saturated market that has little room for further rise in subscribers. So whether price war will diminish or not has no direct relationship with the spectrum bidding issues.

But for sure, it is not the end of the world.
In fact, it may be bargain buy for trading at Rm5.xx
nexona88
post Feb 2 2016, 10:30 PM

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Maxis Receives Notice Of Spectrum Reallocation
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Maxis Bhd has received a notice of spectrum reallocation of 900MHz and 1800MHz bands, which would reduce the spectrum available to 2 x 10 MHz and 2 x 20 MHz respectively.

In a statement today, the communications and internet services provider said it noted the MCMC decision to convert the annual Apparatus Assignment fee to an upfront Spectrum Assignment fee with long term certainty for the spectrum.

"We note that MCMC recognises that this fee needs to be seen in the perspective of the continuous high investment level the industry will need to reach national goals.

"We also note the MCMC's focus on expanding the available spectrum for mobile broadband, notably the 700MHz as well as optimising the 2300MHz and 2600MHz bands," it said.

nexona88
post Aug 30 2016, 11:22 PM

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Maxis charged RM816.75m for bandwidth allocation
http://www.thestar.com.my/business/busines...-for-bandwidth/
nexona88
post Sep 19 2016, 06:43 PM

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Saudi Telecom said to mull options for stake in Maxis
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The Gulf kingdom’s biggest telecommunications operator is gauging interest in its 25% holding in Binariang GSM Sdn Bhd, which is the controlling shareholder of Maxis, according to the people. The Riyadh-based company may consider selling the stake to a Malaysian pension fund or another financial investor, two of the people said, asking not to be identified because the information is private.

The Binariang holding gives Saudi Telecom an effective 16.2% interest in Maxis valued at about US$1.8 billion, data compiled by Bloomberg show. Binariang also owns a majority stake in Indian wireless carrier Aircel Ltd, which is merging with larger rival Reliance Communications Ltd. Saudi Telecom hasn’t started a formal auction process for its Binariang stake and could decide to keep it, according to the people.

http://www.theedgemarkets.com/my/article/s...?type=Corporate

EPF to the rescue cool2.gif biggrin.gif
Bigproblem
post May 3 2017, 05:17 PM

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hi, wondering is that anyone attend their agm recently?
nexona88
post Jun 19 2017, 08:37 PM

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Maxis Bhd, the second largest cellular service operator by subscriber base in Malaysia, intends to place out 300 million new shares which is equivalent to 4% of its existing 7.51 billion share capital, to raise up to RM1.73 billion.

According to a term sheet sighted by theedgemarkets.com, these new shares will be priced between RM5.52 and RM5.74 per share, equivalent to 2.2% to 6.1% discount to Maxis' closing price of RM5.88 last Friday (June 16).

http://www.theedgemarkets.com/article/maxi...share-placement


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