Stock Name: TM
Company Name: TELEKOM MALAYSIA BHD
Research House: OSK
KUALA LUMPUR: OSK Research is maintaining a Buy on Axiata (target price: RM5.80) and NEUTRAL on Telekom Malaysia ((target price: RM3.28) as there is'' no fundamental change in its'' views on both stocks.
'Axiata remains our top pick for exposure to Malaysia and regional telecoms given its attractive regional growth prospects and undemanding valuations,' it said on Thursday, Dec 30.
TM and Axiata had on Wednesday issued statements on the potential links to Alcatel Lucent's (ALU) alleged payment of bribes to government officials and company employees in securing contracts, which reportedly took place between October 2004 and February 2006.
ALU has agreed to pay USD137 million (RM432 million) in fines and penalties to settle the charges after reaching an agreement with the US Department of Justice and Securities and Exchange Commission (SEC).
OSK Research said the developments related to the allegations and the participation of the Malaysian Anti- Corruption Agency (MACC) in the probe are lauded as these safeguard foreign perception and demonstrate that the government takes such allegations seriously in its efforts to promote foreign direct investments.
Company Name: TELEKOM MALAYSIA BHD
Research House: OSK
KUALA LUMPUR: OSK Research is maintaining a Buy on Axiata (target price: RM5.80) and NEUTRAL on Telekom Malaysia ((target price: RM3.28) as there is'' no fundamental change in its'' views on both stocks.
'Axiata remains our top pick for exposure to Malaysia and regional telecoms given its attractive regional growth prospects and undemanding valuations,' it said on Thursday, Dec 30.
TM and Axiata had on Wednesday issued statements on the potential links to Alcatel Lucent's (ALU) alleged payment of bribes to government officials and company employees in securing contracts, which reportedly took place between October 2004 and February 2006.
ALU has agreed to pay USD137 million (RM432 million) in fines and penalties to settle the charges after reaching an agreement with the US Department of Justice and Securities and Exchange Commission (SEC).
OSK Research said the developments related to the allegations and the participation of the Malaysian Anti- Corruption Agency (MACC) in the probe are lauded as these safeguard foreign perception and demonstrate that the government takes such allegations seriously in its efforts to promote foreign direct investments.
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