Axiata report

Axiata annual report 2018 pdf

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Under our bull-case scenario, we assume substantial improvements in industry yields would be supported by collaborative pricing revisions by Telkomsel and EXCL, as the telcos opt for territorial dominance in ex-Java regions. This research report is intended only for professional clients as defined in the DFSA rulebook and no other person may act upon it.

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axiata report 2018

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Hong Kong This report has been prepared by a person s who is not licensed by the Hong Kong Securities and Futures Commission to carry on the regulated activity of advising on securities in Hong Kong pursuant to the Securities and Futures Ordinance Chapter of the Laws of Hong Kong.

Axiata annual report 2018 pdf

This publication has not been reviewed or authorized by any regulatory authority in Singapore, Hong Kong or elsewhere. It can be expected that one or more of the estimates on which the valuations, opinions, estimates, forecasts, ratings or risk assessments were based will not materialize or will vary significantly from actual results. We are providing this Privacy Policy Statement to help you understand how we collect, use and protect your information when you sign up for the Service and use the Service to access 3rd party websites and applications. Recipients of this report, received from ADBSR are to contact the undersigned at in respect of any matters arising from or in connection with this report. You should contact your relationship manager or investment adviser if you need advice on the merits of buying, selling or holding a particular investment. Any recommendation contained in this document does not have regard to the specific investment objectives, financial situation and the particular needs of any specific addressee. Dialog Connect: - Login service provided by Dialog for its customers to login to web portals provided by Dialog using a single username and a password. Singapore recipients should contact DBS Bank Ltd at for matters arising from, or in connection with the report. For any query regarding the materials herein, please contact Carol Wu Reg No. With improving profitability in ex-Java regions, EXCL has managed to offset higher costs of the Huawei contract and record margin improvements.

This document is not to be construed as an offer or a solicitation of an offer to buy or sell any securities. This research is prepared for general circulation.

Celcom axiata annual report 2017

Under our bear case, we also anticipate an aggressive Smartfren to drive down industry yields steeply. In respect of the United Kingdom, this report is solely intended for the clients of DBSVUK, its respective connected and associated corporations and affiliates only and no part of this document may be i copied, photocopied or duplicated in any form or by any means or ii redistributed without the prior written consent of DBSVUK. You are required to enter your iWealth login credentials to download these reports. Please contact the primary analyst for valuation methodologies and assumptions associated with the covered companies or price targets. DBS Bank Ltd. We wish to help you make informed decisions, so please take a few moments to read the sections below and learn how we may use your personal information. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situation, or needs of individual clients.

For any query regarding the materials herein, please contact Carol Wu Reg No. With improving profitability in ex-Java regions, EXCL has managed to offset higher costs of the Huawei contract and record margin improvements.

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