KUALA LUMPUR, March 2 (Bernama) -- Axiata Group Bhd, under the continued leadership of Datuk Seri Jamaludin Ibrahim, is well positioned to becoming a regional champion by 2015, says OSK Research.
Yesterday, Axiata announced it had renewed the contract of president and group chief executive officer (CEO) Jamaludin, for another three years.
He joined Axiata in 2008 as CEO following the demerger of the group (previously TM International) from Telekom Malaysia Bhd.
"Axiata remains our top pick for exposure to the telecoms sector. Our target price is retained at RM5.83," the research firm said in a note on Wednesday.
"We like the stock's robust growth prospects, marked by its regional footprint in Indonesia, Sri Lanka, Bangladesh and India, and potential for further capital management," it added.
OSK said Axiata's market capitalisation had doubled from the point of demerger (effective April 24, 2008) to RM41.4 billion currently.
"We note that the market capitalisation of a few of Axiata's wholly-owned subsidiaries including, 66.7 owned XL Axiata and 86.8 per cent owned Dialog Axiata, which are listed on their home exchanges have also surged over the past three years," it highlighted.
The research firm said Axiata's market capitalisation is currently ahead of Maxis'.
Yesterday, Axiata announced it had renewed the contract of president and group chief executive officer (CEO) Jamaludin, for another three years.
He joined Axiata in 2008 as CEO following the demerger of the group (previously TM International) from Telekom Malaysia Bhd.
"Axiata remains our top pick for exposure to the telecoms sector. Our target price is retained at RM5.83," the research firm said in a note on Wednesday.
"We like the stock's robust growth prospects, marked by its regional footprint in Indonesia, Sri Lanka, Bangladesh and India, and potential for further capital management," it added.
OSK said Axiata's market capitalisation had doubled from the point of demerger (effective April 24, 2008) to RM41.4 billion currently.
"We note that the market capitalisation of a few of Axiata's wholly-owned subsidiaries including, 66.7 owned XL Axiata and 86.8 per cent owned Dialog Axiata, which are listed on their home exchanges have also surged over the past three years," it highlighted.
The research firm said Axiata's market capitalisation is currently ahead of Maxis'.
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