[Dow Jones] Shares of Malaysian listed Wimax players may face selling pressure following imposition of fines by authorities for failure to roll out their respective networks on time, says dealer. According to The Star report, citing unnamed sources, Malaysian Communications and Multimedia Commission fined YTL e-Solutions (0009.KU) MYR1.9 million, Redtone International (0032.KU), MYR200,000 and unlisted AsiaSpace MYR1.7 million. "The failure of these companies in rolling out their services does not come as a big surprise. Government officials had voiced-out their dissatisfaction over the slow progress over the last few months. The bigger concern now is if MCMC will withdraw the licenses if these delays are prolonged," says dealer. YTL e-Solutions ended +7.0% at 68.5 sen, Redtone ended +18.8% at 28.5 sen.
Dow Jones Newswires
October 27, 2009 20:22 ET (00:22 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc
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