Axiata Group's overseas subsidiaries, Bangladesh's Robi and Nepal's Ncell, are facing regulatory issues in their respective markets.
The unlocking of the value of Axiata Group's 62.4% stake in independent tower company edotco was highlighted as a positive re-rating catalyst earlier, but a potential IPO could be delayed.
Network infrastructure sharing plans could help to ease concerns regarding higher-than-expected 5G-related capital expenditures going forward.
Axiata Group expects to meet three-quarters of its five-year RM5 billion cost savings target by end-FY2019, which is ahead of schedule.
Axiata Group trades at 5.3 times consensus forward FY2020 EV/EBITDA and offers a consensus forward FY2020 dividend yield of 2.7%.