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[公司专区] 6947 DIGI 數碼電訊

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发表于 2011-7-4 21:04 | 显示全部楼层
CIMB has Hold on DiGi, target price RM31.60     

KUALA LUMPUR: CIMB Equities Research has a Hold call on DiGi.com with a target price of RM31.60.

The research house said the telco would embark on a transformation journey vital for its survival over the next 12 to 18 months and it would cover three areas - network, IT system and distribution.

CIMB Research said as part of the preparations, DiGi is swapping and upgrading its entire network and equipment, which will be completed by year-end.

"When you look at transformation, one of the things you need to focus on is to have an intelligent network. So, we have signed a vendor (China's ZTE) to complete the swap. All these will be 4G ready, everything will be one rack. So, when 4G is ready, it is just going to be a software upgrade," its CEO Henrik Clausen was quoted saying.

DiGi’s next area of transformation involves upgrading its IT system such as billing to enable it to respond faster to the market and also support its business model.

CIMB Research said DiGi’s last area which it plans to transform is its distribution and its plans are to expand into the underserved areas such as the East Coast and other geographical areas.

http://www.theedgemalaysia.com/b ... t-price-rm3160.html

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发表于 2011-7-4 22:03 | 显示全部楼层
本帖最后由 chua88 于 2011-7-4 22:31 编辑

马来西亚版每日头条 – 04/07/11
2011年07月04日每日头条(马来西亚版)
http://www.sharesinv.com/zh/articles/24649/

数码网络的毛利率将继续提高
数码网络的息税折旧及摊销前盈利(EBITDA)率在过去13个季度里下降至42.7%的低位,大致上是由于给予手机津贴及推出第三代网络。但最近三个季度的EBITDA率出现了上升的趋势。后者在3Q10、4Q10和1Q11分别提高至43.9%、45.7%和48%。公司一向行事谨慎,并着手改善工序及从同一个供应商购买设备,已取得更好的价格。更重要的是,公司能达到其关键业绩指标(KPI)的要求,并在无需增加资本开支(拨备7亿令吉)的情况下转换其整个网络。另外,公司宣布计划对其网络、资讯科技和分销活动进行改革,这对其得以生存下去是至关重要。

启示:公司对其盈利率将会继续提高表信心,由于它侧重成本监控和持有谨慎行事的态度及享有规模经济效益。另一方面,公司不计划在近期内推出网际网络电视服务,尽管其竞争对手之一即将推出此服务。

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发表于 2011-7-5 01:38 | 显示全部楼层
DiGi's upgrade plans
By Goh Thean Eu
Published: 2011/07/04

Shah Alam: DiGi.Com Bhd, the country's third largest mobile operator, will embark on a transformation journey vital for its survival in the ultra-competitive industry over the next 12 to 18 months.


The transformation agenda started last year when Henrik Clausen, DiGi's latest chief executive officer, joined the company. It will cover three areas - network, information technology (IT) system and distribution.

"Without the transformation, we would lose out and die. So, in order to drive growth, we need to transform a good company into an even stronger company," Clausen said in an interview with Business Times last week.

Trends are indicating that there will be more mobile phone users consuming data going forward, as more smart phones flood the market as well as the decrease in smart phone prices.

To prepare itself for the trend, DiGi feels the need to swap and upgrade its entire network and equipment. The swapping process is expected to be completed by end of this year.

"When you look at transformation, one of the things you need to focus on is to have an intelligent network. So, we have signed a vendor (China's ZTE) to complete the swap. All these will be 4G ready, everything will be one rack. So, when 4G is ready, it is just going to be a software upgrade," Clausen said.

The next area of transformation would involve upgrading its IT system such as the billing system.

"This is to enable us to respond faster to the market, and to support our business model," he added.

The last area it plans to transform is its distribution, said Clausen.

"We have strong distribution and dealers and we see some opportunities for expanding that model, in areas where its underserved such as the East Coast and other geographical areas.

"On top of that, we need to get retail right, and we also see online distribution becoming more and more part of the game," he said.

Clausen added that the biggest change the industry will experience over the near to medium term is not so much about the declining trend in voice services, the growing demand for mobile data, new services and contents.

Instead, it is about how services will be delivered. "No one is going to stop talking. So, to some extend, voice is the history, present and the future. I think it is more about how that voice experience is going to be supported by the operators.

"Today, a customer's need is quite effectively provided by having a voice platform and data platform. That's how the network has been built. But, if you look at the 4G networks, over time, there will be integrated networks where voice will be data.

"So, at some point in time, that convergence will happen. People will still talk, but the voice experience will be delivered on a data-type platform," he said.

http://www.btimes.com.my/Current ... _html#ixzz1R9vjf2JH

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发表于 2011-7-5 01:40 | 显示全部楼层
DiGi's improving margin is sustainable, says CEO
By Goh Thean Eu
Published: 2011/07/04

For the past three quarters, DiGi's Ebitda (earnings before interest, tax, depreciation and amortisation) margin has been on the uptrend.


SHAH ALAM: DiGi.Com Bhd, the country's third largest mobile operator, believes its improving margin is sustainable despite the ongoing handset subsidies.

DiGi's Ebitda (earnings before interest, tax, depreciation and amortisation) margin, which was once as high as 49.7 per cent, has fallen to as low as 42.7 per cent during the past 13 quarters.

The decline was mainly due to handset subsidies, as well as its rollout of third generation networks.

However, for the past three quarters, its Ebitda margin has been on the uptrend.

It grew its margin by 0.6 percentage point to 43.9 per cent in third quarter last year, followed by 45.7 per cent fourth quarter last year.

For the first quarter ended March 31 2011, the company posted an Ebitda margin of 48 per cent, its highest in about two years.

"We believe that this is sustainable, and we intend to sustain it," said chief executive officer Henrik Clausen in a Business Times interview last week.

He said the key to the company's improved margin lies in its cost focus and prudency.

"We have improved a lot in terms of our processes. Today, we think of everything, not only when we are buying the big stuff, but also on small stuff like travelling expenses.

"We will try to be prudent and that is going to be part of our business," said Clausen.

One of the ways the company managed to save costs substantially was by consolidating its network and equipment vendors.

In the past, the company sourced its network equipment from three vendors. However, today it will only source its equipment from one vendor, China's ZTE.

By doing so, the company is able to get better pricing for its equipment, as it now has the economies of scale.

"More importantly, we are able to achieve our coverage KPIs, as well as swap all our entire network, without having to increase our initial capital expenditure allocation of RM700 million," said Clausen.

Meanwhile, the company said it has no immediate plans to offer Internet Protocol TV services, even though one of its rivals is launching the services in less than six months.

http://www.btimes.com.my/Current ... /Article/index_html

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发表于 2011-7-5 20:10 | 显示全部楼层
进行3领域转型计划
数码网络拟定新方向

2011-07-05 08:48

(吉隆坡4日讯)联昌证券研究推荐数码网络(Digi,6947,基建计划组)为“持有”评级,目标价格为31.60令吉。

联昌证券研究表示,数码网络将会展开涵盖网络、资讯科技系统与分销领域的转型旅程,对该电讯公司未来12个月到18个月内的发展方向具有关键意义。

该证券行说,作为转型的部分准备,数码网络将转换与提升既有的网络与设备,预定在今年底完成所有准备工作。

数码网络首席执行员亨利克劳森说:“当你寻求转型,其中一个必须重视的焦点是设有智慧网络。所以,我们已经签订供应商(中国中兴通讯,ZTE)来完成这项转换工程。”

“所有系统将进行4G化,全归属一个框架。那么,当4G设施完毕,就只剩下软体升级的工作。”

接着,数码网络下步的领域转型则包括提升资讯科技系统,例如迅速反应市场以及支持其业务模式的账单系统。

联昌证券研究指出,数码网络最后领域的转型是分销网络,而该集团打算进军东海岸等未开发领域。

http://www.eunited.com.my/index. ... 13-11&Itemid=75

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发表于 2011-7-6 17:03 | 显示全部楼层
DiGi climbs, benefits from sales tax plan      
  
KUALA LUMPUR: Shares of DIGI.COM BHD [] climbed on Wednesday, July 6 as it is expected to benefit the most from a plan by telcos to pass on the 6% sales tax on pre-paid revenue to the customers.

At 3.16pm, DiGi was up 16 sen to RM29.76 with 482,800 shares done.

The FBM KCLI rose 6.43 points to 1,588.28. Turnover was 707.36 million shares valued at RM1.17 billion.

CIMB Equities Research said the proposal to pass the sales tax to users would be good news for the sector and reinforces its Overweight rating.

“We are upgrading DiGi from Neutral to Outperform as it should benefit significantly. DiGi has the highest proportion of prepaid revenues among the telcos while Axiata stands to benefit the least,” it said.

CIMB Research said it expected the cellcos’ revenues to rise by about 3% instead of 6% because some users, especially the price-sensitive ones, are likely to cut back on usage.

“We are raising our FY11-13 core net profit estimates for Axiata, DiGi and Maxis by 2%-8%. Our target prices rise by 2%-6%. Axiata and Telekom Malaysia remain Buys while Maxis is still a Hold,” it said.

http://www.theedgemalaysia.com/b ... sales-tax-plan.html

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发表于 2011-7-7 08:05 | 显示全部楼层
轉嫁預付卡6%服務稅
數碼電訊受惠最大

股市06/07/2011 23:29

(吉隆坡6日訊)繼國內電訊業者料轉嫁預付服務6%服務稅給消費者,券商非常樂觀,重申該領域“增持”評級,數碼電訊(DIGI,6947,主要板基建)是大贏家,評級上調至“超越大市”。

 聯昌國際證券研究指出,轉嫁服務稅后,目前只把預付業務94%營業額入賬的電訊業者,便能修復損失掉的盈利。

 但是該行相信,電訊業者的營業額不會增長6%,而是3%。因為,轉嫁服務稅等于電話費上調,一般對價格敏感的預付服務用戶,就會減少使用率。

 數碼電訊受惠最大,因為該公司預付用戶最多佔總營業額75%;天地通亞通(Celcom Axiata)的佔59至60%;明訊(MAXIS,6012,主要板貿易)的則佔56至57%。

 雖然電訊公司轉嫁服務稅務,不在大馬通訊與多媒體委員會(MCMC)管轄範圍,政府已指示繼續該措施。 

 不過,聯昌國際證券研究補充,上述措施可能從9月1日延遲,因為生活費上揚,價格上調是敏感課題。

 收益預測上調,數碼電訊目標價格也被上修至34令吉。亞通(AXIATA,6888,主要板貿易)則上調至6.20令吉,維持“超越大市”;明訊上調至5.90令吉,保持“中和”。

http://www.chinapress.com.my/node/231663

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发表于 2011-7-13 23:02 | 显示全部楼层
折舊或逾億 數碼網絡淨利看跌

(吉隆坡13日訊)數碼網絡(DIGI,6947,主板基建股)因轉向多元技術系統網絡,而導致加速折舊,市場人士持續看跌其2011財政年次季淨利。數碼網絡預計於下週三(7月20日)公佈其2011財政年次季業績。

根據該公司2011財政年加速折舊4億至4億5000萬的指南,聯昌國際研究分析員預計,其次季加速折舊將提升至1億令吉。

因此,分析員認為,其2011財政年次季核心淨利將按年滑落21%,或按季下跌6%,至2.6億與2.65億令吉之間。

儘管如此,分析員仍看好其營業額表現,能按季增長1%至2%,或按年上揚9%至10%,主要受非語音營業額及用戶成長所支撐。分析員相信,其語音營業額將持續受壓,因其每分鐘通話平均收入(ARPM)進一步萎縮,而市場亦逐步被數據通訊替代。

隨著該公司在次季推出的「Super Reload」超值加額配套,分析員認為,這將主要針對國內巫裔與郊外用戶群,透過綜合性使用配套,以減輕語音營業額跌幅。

同時,分析員相信,在資源互享成本節約的效應下,其扣除利息、稅項、折舊及攤銷前盈利(EBITDA)賺幅,至少能取得按季約45%的平穩成長。

即使加速折舊將縮減核心淨利,不過分析員仍維持其每股股息0.53令吉不變。這是因為該公司管理層堅持其2011年超過100%的派息率。

此外,基於9月起將向預付用戶徵收6%的消費稅,分析員相信,擁有75%預付配套營業額的數碼網絡,將是最大的受惠業者。

股價尾盤大幅上漲

因此,分析員維持該股「超越大市」的投資評級,目標價格為34.00令吉。值得注意的是,數碼網絡今日交投並不熾熱,但卻在尾盤大幅上漲,從而帶動富時大馬綜合指數,在全天普遍下滑的格局中反彈,以1580.67點掛收,上揚2.57點或0.16%。

數碼網絡今日全天皆在昨日閉市價格29.50令吉或以下的水平窄幅波動,然而,在接近閉市的10分鐘前,從下滑的趨勢迅速竄升至30.00令吉,並以該水平結束交易,全天上揚50仙或1.7%。

儘管如此,該股今日僅有17萬3700股易手,低於昨日的45萬5700股。而數碼網絡也成為了全場第二大上升股項。

http://www2.orientaldaily.com.my ... vtr0kqM7D3F1rxA4xGd

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发表于 2011-7-14 18:11 | 显示全部楼层
DiGi 2Q dampened by depreciation      
  
DiGi.Com Bhd
(July 13, RM30)
Maintain outperform at RM29.50 with target price of RM34: We estimate that DiGi’s 2Q11 core net profit fell 21% year-on-year (y-o-y) and 6% quarter-on-quarter (q-o-q) to around RM260 million to RM265 million on the back of higher depreciation as the telco began to accelerate the depreciation of its equipment.

We assume that it increased depreciation by RM100 million in 2Q11, given its guidance of RM400 million to RM450 million acceleration in FY11, followed by RM500 million to RM550 million in FY12 and less than RM100 million in FY13 as it switches its network to a multi-technology (2G/3G/4G) single RAN system. DiGi is scheduled to announce its 2Q results on July 20.

In our view, 2Q probably rose 1% to 2% q-o-q and 9% to 10% y-o-y, driven by non-voice revenues and subscriber growth. Voice revenue continued to decline on the back of further erosion of average revenue per minute (ARPM), and increasing substitution by data messaging.

During the quarter, DiGi launched “Super Reload” which bundles RM75 worth of minutes, SMS and MMS in a RM15 reload voucher. We think that these features will further commoditise voice, SMS and MMS. That said, we expect DiGi to continue making headway in the Malay and rural user segments, which will mitigate the decline in voice revenues.

We think that earnings before interest, tax, depreciation and amortisation (Ebitda) margin was at least stable on a q-o-q basis at around 45%, thanks to DiGi’s efficiency measures. Recall that Ebitda margin had risen by 1.1 percentage points q-o-q and 0.4 pps y-o-y in 1Q11.

We expect DiGi to maintain its dividend per share (DPS) of 53 sen, unchanged from 1Q11 and up 23% y-o-y despite the lower net profit arising from the higher depreciation. The company has said that it will maintain its absolute DPS in 2011 — its payout will exceed 100% against its announcement earlier this year that the payout will be capped at 100%.

We maintain our “outperform” and discounted cash flow-based target price of RM34 (weighted average cost of capital 11.6%). We like its high single-digit revenue growth, which is the highest among the telcos, and the steady rise in Ebitda margins.

As 75% of its revenue comes from prepaid users, DiGi will be a key beneficiary of the industry’s plan to pass on the 6% sales tax to prepaid users on Sept 1. This is a likely catalyst and will help net profit surprise on the upside. Our FY12/FY13 core net profit estimates are 13% to 23% above consensus. — CIMB Research, July 13

http://www.theedgemalaysia.com/i ... y-depreciation.html

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发表于 2011-7-14 23:02 | 显示全部楼层
折舊費或達1億
數碼網絡次季淨利料挫21%

業績評論 2011-07-14 11:04

(吉隆坡13日訊)數碼網絡(DIGI, 6947, 主板基建計劃組)預定7月20日(下週三)公佈2011財政年次季業績,聯昌研究估計次季核心淨利按年及按季將各挫21%及6%,至2億6千萬至2億6千500萬令吉,主要考量網絡轉至多重科技系統或面對的1億令吉折舊。

數碼網絡管理層曾提到,2011財政年折舊費將達4億至4億5千萬令吉,2012財政年為5億至5億5千萬令吉,而2013財政年則少於1億令吉,因此次季折舊費可能達1億令吉。

不過,聯昌預料次季營業額按年揚升9%至10%,按季走高1%至2%,歸功於非語音營業額及用戶增長。

該行認為,語音營業額成長將持續面對阻力,歸咎於語音服務快速商品化現象,每分鐘營業額仍遭侵蝕及逐漸被數據服務替代。

“我們相信該公司將持續朝馬來及鄉區市場邁進,以抵銷語音營業額走跌窘境,並進一步將語音、短訊及彩訊三大服務項目包裝在一起。”

在持續性成本削減努力下,數碼网絡賺幅仍表現強穩,按季計,料可至少趨穩在45%左右。其首季營運盈利賺幅按年及按季各成長0.4%及1.1%。

料派息53仙

股息派發方面,儘管淨利水平料走低,但聯昌預期該公司次季將維持派發53仙股息,與首季一樣,但卻按年提高23%。管理層之前透露,將致力於維持今年的絕對派息額,即派息率超越100%。

由於該公司的75%營業額都是來自預付用戶,因此可從6%銷售稅轉移至預付用戶身上措施中受惠。

聯昌維持數碼網絡“跑贏大市”評級,目標價訂在34令吉,受看好因素包括取得將近10%營業額成長,是國內電訊業最出色的表現,而且營運盈利賺幅穩健成長。

(星洲日報/財經)

http://biz.sinchew-i.com/node/49463?tid=18

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发表于 2011-7-15 12:42 | 显示全部楼层
電訊業抗跌測試
MIDF研究根據7項重要測試指標,向國內4大電訊業者進行“抗跌”測試,雖然無法100%達標,但大部份公司都在最重要的4項測試中“成功闖關”,即市值規模、負債、持續性派息及正面盈利,促使電訊業被視為抗跌性領域之一

隨市場的部份指標顯示電訊業正邁向穩定,MIDF研究就沿用被視為“華爾街院長”--本傑明格雷厄姆在《聰明的投資者》中提到的7大測試法,以鑑定國內電訊業是否已達到抗跌水平。

馬電訊符5項標準
除了上述4大條件,其他的測試項目還包括每股盈利成長、本益比及股價佔每股資產比重。鑒於一些電訊公司的上市歷程不長,因此該行也在部份測試基準中作出調整。

測試結果顯示,馬電訊(TM, 4863, 主板貿服組)的“戰績”最優越,符合5項標準,超過70%,只有在每股盈利成長及本益比項目中落敗。

緊接著是數碼網絡(DIGI, 6947, 主板基建計劃組)及亞通(AXIATA, 6888, 主板貿服組)“打成平手”,各有4項測試過關。

至於表現最差勁的則是明訊(MAXIS, 6012, 主板貿服組),只通過市值及負債水平這兩關,惟須考量該公司只在2009年才重新上市,所以在一些測試項目中較為吃虧。

馬電訊寬頻續成動力
首季淨利下跌30.4%,但以正常化計,卻增長40.4%。寬頻持續成為成長動力,儘管Unify高速寬頻計劃認購率強勁,不過Streamyx仍取得15%雙位數增長,用戶達171萬人,顯示在家庭寬頻及高速寬頻的滲透率提昇。首季寬頻新用戶達2萬8千人。

Unify高速寬頻覆蓋率已達85萬5千人,並設有66個發射站,相信今年杪的110萬人覆蓋率可如期達成。至今,Unify高速寬頻的用戶成長至11萬3千人,首季的每名用戶平均營業額從188令吉,增至199令吉。

亞通賺幅趨穩
首季淨利挫跌33%,主要是因為按年比較基礎較高,前期獲得3億零750萬令吉一次過賺益。

對該公司旗下營運公司的持續性成長感到正面,包括市場已飽和的天地通(Celcom)。雖然區域業務面臨強烈競爭,但營運盈利賺幅仍趨穩在44%。

明訊營業額企穩
首季淨利微跌2.2%,符合市場預期,後付業務的每名用戶平均營業額企穩在每個月104令吉,且按年走高2%。

不過,預付及無線寬頻的每名用戶平均營業額,則各跌16.2%及11.6%,歸咎於低消費用戶及多重晶片記憶卡的認購增加。

數碼網絡數據業務成關鍵

首季淨利攀升19.1%,歸功於用戶及數據營業額強力增長,寬頻及流動網絡用戶各走高7萬8千及3萬2千人。

數據業務是該公司重要的成長關鍵,按年上升38.2%,並佔總營業額的27.2%。

隨營運效益改善,營運盈利賺幅也走挺1.3%。


數據業務續看漲,電訊業仍具成長空間

電訊業2010年表現出色,平均成長27.7%,這項利好更延續至今年首季,MIDF指出,鑒於用戶人數持續擴大及每名用戶平均營業額趨穩,電訊業仍存有成長空間。

不過,手機滲透率過去10年大幅增長,促使電訊業走向飽和狀態,因此相信手機滲透率將從2012年起放緩,特別是在4G科技及智能手機掀起熱潮的這個年代。

“從2000年的21.8%,至今手機滲透率已超越117%,相等於過去10年的18.4%年增長,預計今年將進一步成長,並達到138.5%。”

目前國內手機滲透率寫下125%。

該行表示,雖然數據業務將是未來成長的關鍵因素,不過這卻意味著業者需要祭出更高的資本開銷,以達到日益增長的數據需求,而這或衝擊未來的派息潛能,因業者須保留現金。

電訊業者合作減成本
“我們相信近期電訊業者之間的合作有助緩和這方面的資本開銷,因可互相承擔網絡擴展成本,且可從光纖業者身上受惠。”

MIDF說,由於電訊市場認購率增加,拖累後付業務的每名用戶平均營業額,在過去6年寫下6.3%年下滑困境,2010年僅有94令吉。

“這也顯示語音市場的強烈競爭,料近期持續下滑,隨後才會恢復穩定,但我們不會感到擔憂,因為數據業務將崛起成為新成長要素。”

該行預期數據業務營業額貢獻將持續看漲,去年佔總營業額的31.1%,比2009年的26.8%來得高。今年首季佔35.1%,全年則料站上40%。

雖然一些電訊業者的首季淨利表現下滑,但MIDF研究預期會在隨後的季度回彈。同時,電訊業表現出色促使業者派發高於市場的股息,週息率介於2%至7.3%,且剛加入派息行列的亞通也派發10仙股息。

MIDF維持電訊業“正面”評級,潛在揚升空間將來自數據業務成長及領域的抗跌利好;首選股仍是亞通,主要看好可從區域市場業務中攫取成長。

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发表于 2011-7-17 11:56 | 显示全部楼层
本帖最后由 bubi 于 2011-7-17 12:17 编辑



抗跌力强营业额高 电讯业增长潜力走俏
2011/07/16 6:20:20 PM
●南洋商报

(吉隆坡16日讯)电讯股的高抗跌力和高营业额,支撑着电讯领域的正面展望和潜在增长。

MIDF研究分析员指出,各电讯领域指标均显示,电讯领域已朝向稳健发展阶段。

过去十年的流动电话渗透率取得相当庞大的增长,他相信电讯业已接近饱和。

“我们相信,4G科技和智能电话时代来临,2012年的流动电话渗透率将趋向适中。”

数据收入是电讯领域增长的主要资源,不过,这极可能需要相当高的资本开销以符合数据增长的需求。这可能会影响电讯公司的派息能力,因为需保留现金符合资本要求。

光纤业者受惠

该分析员相信,电讯业者近期的合作趋势,可缓和高资本开销需求的冲击,分担网络拓展成本。

此外,电讯公司使用光纤网络,也让光纤供应业者受惠,如时光工程(Time,4456,主板贸服股)和马电讯(TM,4863,主板贸服股)。

电讯公司近期的用户人数继续增长和每用户平均收入(ARPU)稳定下,显示电讯领域仍有增长潜力。尽管一些电讯公司首季净利稍低,该分析员相信未来季度将会反弹。

规模 负债 盈利 股息 电讯公司符合4条件

MIDF研究用7条件测试国内电讯公司,最后发现没有任何一家公司符合所有7个条件。不过,大部分电讯公司通过4大关键条件,分别为足够规模、负债率、持续性正面盈利和股息。即使明讯(Maxis,6012,主板贸服股)2009年才重新上市,也有能力持续派发股息。

整体来说,分析员认为电讯领域可视为具备抗跌力的领域。

MIDF研究分析员维持给于电讯领域正面的评级,首选股为亚通(Axiata,6888,主板贸服股),因该公司的区域市场有相当大的增长空间。

此外,分析员也看好马电讯、明讯和数码网络(Digi,6947,主板基建股)是不错的抗跌股,因股息派发均高于市场平均股息水平。

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发表于 2011-7-17 20:08 | 显示全部楼层
马来西亚版每日头条 – 15/07/11

数码网络将签署两份移动虚拟网络营运商协议
全马第三大电信业者数码网络(Digi.Com)将在今年下半年签署两份移动虚拟网络营运商(MVNO)协议。MVNO所提供的手机服务与一般手机营运商无异,但MVNO并不拥有射频频谱或无线电波执照。公司的总裁Henrik Clausen并没有透露这两份MVNO协议的目标市场,但分析师认为,公司正着眼于郊外地区及非华人市场。公司在2007年12月推出了自家的MVNO品牌-Happy-来进军东海岸市场,并获得了热烈的回响,预期Happy的市场份额将在未来12个月内翻倍。

启示:全国计有超过四个MVNO,因此竞争将依旧十分激烈。由于公司的预付品牌在一些市场的地位并不高,两份MVNO协议将有助提高其在这些市场的市场份额。

http://www.sharesinv.com/zh/articles/24849/

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发表于 2011-7-20 13:19 | 显示全部楼层
本帖最后由 ss2020 于 2011-7-20 14:28 编辑

1H Net Profit Up 1.99%, single-tier dividend of 30 sen
Total revenue at RM1.5 billion was well-above the RM1.3 billion reported in the preceding year‟s same quarter; arising mainly from higher data usage across all revenue streams, especially from the 113% surge in mobile internet and broadband revenues, as explained earlier, in addition to higher handset sales. The Group‟s ARPU of RM50 (2010: RM53) mirrored exactly the year-to-date scenario.

Current quarter EBITDA and EBITDA margin were RM671.9 million and 45.8% respectively; a significant improvement compared against the RM578.4 million and 43.3% respectively in the same quarter last year. This is largely attributed to the strong revenue momentum combined with the increased cost efficiency as previously mentioned.

PBT and PAT were however, lower at RM325.3 million and RM236.3 million respectively during the current quarter (2010: RM378.0 million and RM278.4 million respectively); a flow-through effect from the earlier-mentioned accelerated depreciation, as well as premium relating to the up-coming early-redemption of MTN I and II.

The Group‟s EPS in the current quarter consequently stood at RM30.4 (2010: RM35.8)

Dividend:
Second interim tax exempt (single-tier) dividend of 30 sen per ordinary share
EX Date:19/08/2011
Payment Date:07/09/2011

Bursa Malaysia


************************************



DiGi 2Q earnings down 15.1% to RM236.3m on higher depreciation
DIGI.COM BHD []’s earnings declined 15.1% to RM236.31 million from RM278.41 million a year ago on accelerated depreciation of RM3213.76 million and also due to premium relating to the up-coming early-redemption of its debt notes.

It said on Wednesday, July 20 that revenue rose 9.7% to RM1.46 billion from RM1.33 billion, earnings per share were 30.4 sen compared with 35.8 sen.

It declared a tax exempt interim dividend of 30 sen per share.

Elaborating on the 2Q financial performance, it said the RM1.5 billion revenue was well-above the RM1.3 billion reported a year ago.

This increase was boosted from higher data usage across all revenue streams, especially from the 113% surge in mobile internet and broadband revenuesr, in addition to higher handset sales.

“The group’s average revenue per user (ARPU) of RM50 (2010: RM53) mirrored exactly the year-to-date scenario,” it said.

DiGi said the current quarter EBITDA and EBITDA margin were RM671.9 million and 45.8% respectively; up from the RM578.4 million and 43.3% a year ago.

“This is largely attributed to the strong revenue momentum combined with the increased cost efficiency,” it said.

However, the pre-tax profit and net profit were lower at RM325.3 million and RM236.3 million respectively during the current quarter (2010: RM378.0 million and RM278.4 million respectively)

For the first half, its net profit was up 1.9% to RM567.71 million from RM556.66 million while revenue rose 10.3% to RM2.89 billion from RM2.62 billion.

It said the revenue growth was mainly due to strong data revenue momentum across all revenue streams, particularly from both mobile internet and broadband which grew by 131% year-on-year in tandem with the continued high take-up of device bundles.

Higher handsets sales also contributed to the healthy revenue growth.

“There was a decline in ARPU from RM53 in the previous financial period to RM50 in the current financial period, from the cumulative effect of newly-acquired subscribers with lower spending, margin pressure from increased competition and lower domestic interconnect revenue resulting from the downward revision in regulated mobile termination rate which took-effect from July 2010,” it said.

theedgemalaysia.com

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发表于 2011-7-20 20:11 | 显示全部楼层
数码网络次季赚2.36亿 营业额升约10%
宣布派息30仙

财经新闻财经 2011-07-20 18:11

(吉隆坡20日讯)数码网络(Digi,6947,主板基建股)次季业绩表现稍微逊色,净利下跌15.12%,不过,董事局仍建议派发30仙股息。

数码网络总执行长亨得利克劳森表示,在强稳的数据服务表现支撑下,该集团可继续维持强稳的增长动力。

数码网络的使用率不断增长,用户群基础达930万名。

截至2011年6月30日,数码网络次季净利从去年同期的2亿7840万8000令吉,下跌15.12%,至2亿3631万8000令吉。

无论如何,该集团的营业额则上升9.95%,从上财年同期的13亿3509万6000令吉,增长至14亿6799万8000令吉。

受益于高数据使用,尤其是流动网络和宽频营业额增长113%的带动下,数码网络营业额持续取得稳健的增长。

上半年净赚5.6亿

不过,由于折旧率增加,以及有关其中期票据提早赎回的影响下,次季净利因而出现下跌的迹象。

数码网络上半年的净利和营业额,则分别增长1.99%和10.4%,至5亿6771万4000令吉和28亿9856万1000令吉。

该集团董事局也宣布派发30仙的股息,让其上半年的股息达73仙,稍微高于上财年同期的70仙。

数据业务劲增131%

数码网络上半年的流动网络和宽频营业额增长高达131%,支撑着其强稳数据营业额动力,带动营业额增长。

亨得利克劳森指出,该集团将专注在网络,以推动着强稳的数据增长,并努力通过创新结合网络媒体如Opera Mini和Facebook Zero,提升与精明流动电话的合作。

目前,数码网络共拥有约530万名流动宽频和流动网络客户。

严控成本 推动赚幅

数码网络通过提升价值、增加接触点和客户互动活动下,在目标客户群中获得更多高素质的用户。

因此,该集团的预付客户群显著地增长,而带来高预付营业额。

亨得利说,投资会专注在数据启动网络,来提升服务的覆盖、产能、素质和效率。

“我们主要是以与天地通(Celcom)合作的基础设施分享平台,和本身的网络先进化活动为主,这两大关键举措的进展良好。”

数码网络也将会继续严格控制成本,以及努力执行成本节省措施,来推动长期的赚幅增长。

展望2011年下半年的表现,数码网络维持取得高单位数的营业额增长目标。

http://www.nanyang.com/node/369924?tid=462

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发表于 2011-7-21 09:06 | 显示全部楼层
收入增盈利跌
數碼電訊次季派息減少

財經20/07/2011 22:50 Share  轉寄 列印 字体:.Send to friend

 (莎阿南20日訊)數碼電訊(DIGI,6947,主要板基建)的流動互聯網和寬頻營業額勁漲1.13倍,雖帶動第二季收入增加15%,淨利則減才15%,中期股息減至30仙。

 該公司發表文告說,截至6月30日次季,營業額從13億3509萬6000令吉增至145億6799萬8000令吉,惟淨利從2億7840萬8000令吉下跌至2億3631萬8000令吉。

 每股派息較去年同期的35仙少了5仙,首半財年共派息73仙,卻又比去年多3仙。

 數碼電訊首6個月營業額達28億9856萬1000令吉,按年增加10%,淨利揚2%報5億6771萬4000令吉。

 利息、稅務、折舊與攤銷前盈利(EBITDA)賺幅從43.4%稍漲至45.8%。

 該公司指出,流動數據(Data)使用顯著上升,語音營業額保持動能,齊推動第二季整體業績表現。

用戶達930萬

 總執行韓力克勞森說,自推出和積極推廣“大家互聯網”(Internet for All)活動后,協助數碼電訊的流動數據強勁成長,至今已擁有530萬名流動寬頻和流動互聯網用戶。

 該公司共有930萬名電訊用戶。

 數碼電訊繼續兌現承諾,努力進行網絡現代化、網絡合作和成本節省,以滿足長期的市場需要。

 “我們的投資將集中在數據形網絡打造,以加強覆蓋、容量、素質和服務效率。”

 “公司會通過2方式,即與天地通分享基建,和持續網絡現代化。很快將進行網絡替代,一旦具備頻譜,瞄準明年底採用‘長期演進技術’(LTE)。”

http://www.chinapress.com.my/node/235829

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发表于 2011-7-21 10:18 | 显示全部楼层
數碼網絡淨利跌15.1%

(吉隆坡20日訊)數碼網絡(DIGI,6947,主板基建股)2011財政年第二季營業額雖然成長9.7%,但淨利卻下跌15.1%,主要受到折舊加速和提早贖回債券的影響。

數碼網絡今日股價並沒有受到淨利下跌影響,全日上升14仙或0.471%,閉市收在29.84令吉。

按年比較,數碼網絡第二季淨利從2億7841萬令吉,下跌至2億3631萬令吉。其中因為折舊從1.9億令吉,大幅提高至3.2億令吉所致。淨利下滑導致每股盈利從35.8仙,降至30.4仙。無論如何,上半年淨利從5.5億令吉,稍微成長1.9%,至5.6億令吉,營業額則上升10.3%,至28.9億令吉。

至於營業額則從1 3億令吉,成長至15億令吉,主要因為網絡數據業務的穩健表現,以及語音收入恢復成長勢頭。其流動互聯網和寬頻所帶來的收入,按年上升113%。

獻議派息30仙

數碼網絡今日同時宣佈,獻議派發第二次中期股息,每股30仙。

該公司上一個季度的未計算利息、稅項、折舊及攤銷之盈利(EBITDA)和賺幅,分別從5億7840萬令吉和43.4%,上升至6億7190萬令吉和45.8%。

數碼網絡首席執行員亨利克勞森表示:「這是由強勁的營運收入,加上提高成本效率所致。」

數碼網絡目前擁有約930萬的用戶群。年至今,平均每名用戶收入(ARPU)為50令吉,略低於2010年的53令吉。

此外,該公司預付費用戶大幅增加,從而取得顯著的預付收入。

亨利克勞森指出,數碼網絡的投資會著重在建立一個擁有數據功能的網絡,並能夠加速提供服務的覆蓋範圍和效率。

該公司正在這方面的兩個關鍵舉措上,取得良好的進展,分別是與天地通的基礎設施共享計劃,以及網絡的現代化活動。

http://www2.orientaldaily.com.my ... Xx00D9h7h3h2sk41VPU

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发表于 2011-7-21 10:37 | 显示全部楼层
DiGi up on interim dividend     
  
KUALA LUMPUR: DIGI.COM BHD [] shares advanced on Thursday, July 21 after the company declared a tax exempt interim dividend of 30 sen per share.

At 9.25am, DiGi rose six sen to RM29.90.

DiGi said its revenue for the second quarter ended June 30, 2011 rose rose 9.7% to RM1.46 billion from RM1.33 billion, earnings per share were 30.4 sen compared with 35.8 sen.

It said the RM1.5 billion revenue was well above the RM1.3 billion reported a year ago.

DiGi’s earnings, however, fell 15.1% to RM236.31 million from RM278.41 million a year ago on accelerated depreciation of RM323.76 million and also due to premium relating to the up-coming early redemption of its debt notes.

http://www.theedgemalaysia.com/b ... terim-dividend.html

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发表于 2011-7-21 10:38 | 显示全部楼层
CIMB Research keeps DiGi as Outperform, target price RM34     

KUALA LUMPUR: CIMB Equities Research said DIGI.COM BHD []’s 2Q11 reported core net profit was 3% above its forecast and 2% above consensus.

It said on Thursday, July 21 accelerated depreciation is likely to be a drag on 2H net profit.

“Revenues and EBITDA margins were robust and we believe DiGi outpaced its rivals. Although 2Q DPS was 30% lower on-quarter at 30 sen (100% net profit payout), DiGi reiterated that FY11 DPS will be maintained at the FY10 level,” it said.

CIMB Research also kept its growth guidance. It maintained its  forecasts, DCF-based target price of RM34 and OUTPERFORM call. The likely re-rating catalysts are the pass through of the sales tax to prepaid users and continued strong growth.

http://www.theedgemalaysia.com/b ... get-price-rm34.html

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发表于 2011-7-21 18:19 | 显示全部楼层
DiGi 2Q net profit falls 15%      

KUALA LUMPUR: DiGi.Com Bhd’s net profit for 2QFY11 ended June 30 fell 15.1% to RM236.3 million from RM278.4 million a year earlier due to higher depreciation and amortisation charges (RM323.8 million versus RM192.7 million previously) and premium relating to the upcoming early redemption of its debt notes.

Its revenue rose 9.7% to RM1.47 billion from RM1.34 billion while earnings per share were 30.4 sen versus 35.8 sen. It declared a tax-exempt interim dividend of 30 sen per share.

In a filing with Bursa Malaysia yesterday, the telco said the stronger 2Q revenue was due mainly to a surge in mobile Internet and mobile broadband earnings. In addition, the group said it managed to sell more handsets in the latest quarter. However, average revenue per user (Arpu) of RM50 was a slight decline compared with RM53 a year earlier.

This was due to lower spending by new subscribers, margin pressure from competition, and lower domestic interconnect revenue resulting from the downward revision of the regulated mobile termination rate.

Still, current quarter Ebitda and Ebitda margin were RM671.9 million and 45.8% respectively; a significant improvement against the RM578.4 million and 43.3% respectively in the same quarter last year. “This is largely attributed to the strong revenue momentum combined with the increased cost efficiency,” it said.


Clausen says DiGi is committed to its network modernisation exercise and cost-focus initiatives.
For the six-month period ended June 30, DiGi’s net profit rose 1.9% to RM567.7 million from RM556.7 million. Its revenue increased 9.8% to RM2.89 billion from RM2.63 billion.

DiGi said the six-month revenue growth was spurred mainly by strong data revenue, especially in the mobile Internet and broadband section, which grew by 131% in tandem with higher take-up of device bundles. “Higher handsets also contributed to the healthy revenue growth,” it said.

DiGi said its six-month Ebitda and Ebitda margin of RM1.3 billion and 45.9% respectively, were considerably higher than the RM1.2 billion and 44% respectively registered a year earlier. This was because of higher revenue contribution and cost efficiency measures.

Its CEO Henrik Clausen said DiGi is committed to its network modernisation exercise and cost-focus initiatives to sustain growth of its mobile Internet and broadband services.

“We are making good progress in two key initiatives in this area, namely the infrastructure sharing initiative with Celcom and our network modernisation exercise. We will soon begin physical network swapping and aim to have a LTE-ready network by end-2012, enabling our customers to quickly benefit from LTE services once spectrum becomes available,” he said.

He added the group is exploring other initiatives to increase savings and manage its costs.

DiGi had earlier announced that it was planning to cut down capital expenditure by 10% from 2010 as part of its measure to improve operating cashflow.

DiGi said it plans to spend RM700 million a year in operational expenditure until 2013 to improve its network and on-the-ground distribution centre. It also said that it is committed to paying at least 80% of its net profit as dividends.

The capital investment is part of DiGi’s transformation plan to meet rising demand for mobile Internet services. Analysts said local telcos would only shine in late FY12 while DiGi expects to hit high single-digit growth in the next few years during the transformation period.  

In a recent note, Kenanga Research reiterated its “outperform” call on DiGi as it sees the group moving up the value chain with more value-added services being introduced in 3Q.

“The effort will be likely to encourage current subscribers to move towards higher packages to enjoy cutting edge mobile speeds, and improve the quality of service,” it said. It has a target price of RM31.56 for DiGi.

DiGi hit a recent high of RM30 before closing at RM29.84 yesterday with 460,900 shares done.

http://www.theedgemalaysia.com/i ... rofit-falls-15.html

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