Dow Jones] Malaysian telecoms sector likely to benefit from individual tax relief of up to MYR500 on broadband subscription fees for 2010-12, says Credit Suisse. Says government cited need to boost broadband penetration from 25% currently compared to 95% in Korea, 88% in Singapore, 64% in Japan, 60% in U.S. "We are bullish on the prospects for wireless broadband growth in Malaysia; there is a 16 million base of internet users but only 2.35 million broadband users, implying attractive potential to convert the rest to broadband speeds." Adds, wireless broadband already proving to be a key growth driver for Malaysian cellular industry, contributed 5% of Axiata's (6888.KU) Celcom's revenues in 2Q09; "management expects this to rise to 15% in the next two-three years." Notes Celcom had 420,000 wireless broadband (HSDPA) subscribers as of mid-2009. Axiata last down 1.7% at MYR2.95.
Dow Jones Newswires
October 25, 2009 22:07 ET (02:07 GMT)
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