Thursday 28 Mar 2024
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KUALA LUMPUR (June 5): CIMB IB Research has a “Hold” rating on Axiata Group Bhd at RM4.85 with a target price of RM5.30 and said it expects Axiata’s earnings in the next few quarters to remain depressed due to: a) consolidation of Airtel’s losses; b) losses at Idea; and c) no major recovery at XL/Celcom until 2H17F/end- FY17F.

In a note June 2, the research house said it onlys expect Axiata’s dividend payout to rebound from the current 50% to 85% in FY18F.

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