CelcomDigi (CDB) received spectrum assignments for the 2,600MHz and 900MHz bands from the Malaysian Communications and Multimedia Commission (MCMC) on 30 October. According to Malacca Securities Research, the gain comes with a RM42m annual bill for the 2,600MHz band alone.
What CelcomDigi Does and Why Spectrum Matters
CelcomDigi is the mobile operator formed from the combination of Celcom and Digi. Spectrum is the radio airwaves that carry mobile data, and holding more of it lets a carrier handle heavier traffic.
The research house noted that the new bands should strengthen CDB’s network capacity and coverage. The trade-off is the added cost of holding that spectrum on the balance sheet.
The Spectrum Costs Malacca Securities Highlighted
The headline figure in the research is the RM42m annual fee tied to the 2,600MHz band. The summary does not break out a separate annual figure for the 900MHz band.
Malacca Securities Research framed the assignments as a capacity gain that comes at a visible recurring cost. Investors will need to weigh whether revenue from better coverage offsets that outlay over time.
Valuation Basis and Financial Figures
The report summary does not disclose CDB’s revenue, earnings or valuation multiples. It also does not state the valuation method behind any target price.
These details, along with any rating from Malacca Securities, sit in the full research document. M+ Online’s research team is the source for that complete analysis.
Risks Flagged in the Research
The added spectrum fees are the main cost risk the research highlights for CDB. Malacca Securities also flagged that the FBM KLCI may trade cautiously amid weaker global technology sentiment.
Local market breadth was weak in the latest session, with 648 losers outpacing 430 gainers on Bursa Malaysia. The Technology sector fell 2.57%, making it the weakest sector in the review.
What This Means for Retail Investors
For retail investors, the spectrum news is a company-specific development set against a cautious market backdrop. The cost figures are concrete, so the main question is how quickly the added capacity can translate into subscriber revenue.
The full report is available from M+ Online at mplusonline.com/research-report/detail/1487. Readers should review Malacca Securities’ rating, valuation and assumptions there before drawing their own conclusions.
Key Takeaways
- CelcomDigi (CDB) received 2,600MHz and 900MHz spectrum assignments from MCMC on 30 October.
- Malacca Securities Research flagged RM42m in annual fees for the 2,600MHz band.
- The report summary does not include a rating or target price for CDB, so the full report from M+ Online is the reference.
- Bursa breadth was negative, with 648 losers versus 430 gainers.
- The Technology sector fell 2.57%, while Energy rose 0.92%.
Frequently Asked Questions
Does Malacca Securities have a target price for CelcomDigi (CDB)?
The report summary available for this article does not state a target price for CelcomDigi. Malacca Securities’ rating and valuation for CDB should be checked in the full research report from M+ Online.
How much will CelcomDigi pay for the 2,600MHz spectrum band?
According to Malacca Securities Research, CelcomDigi faces RM42m in annual fees for the 2,600MHz band. The summary does not give a separate annual figure for the 900MHz band.
What is the broader market context for Bursa telco stocks right now?
The research house said the FBM KLCI may trade cautiously amid weaker global technology sentiment. In the latest session, 648 losers outpaced 430 gainers on Bursa Malaysia.
📊 On AI Stock Terminal: CDB quarterly results · CDB announcements
Source & Attribution
This article summarises a research report published by Malacca Securities Sdn Bhd (M+ Online) on 02 November 2026. All ratings, target prices and forecasts belong to Malacca Securities Research, not to the author of this blog.
Read the original report: M+ Online Research Report | View full PDF
Disclaimer: This article is for informational and educational purposes only and does not constitute financial advice or a recommendation to buy or sell any security. Ratings and target prices cited are those of Malacca Securities Research and are subject to change. Always do your own research before making investment decisions.
Want access to full M+ Online research reports and AI stock analysis? Contact Dexter Chia, AI-Driven Remisier at Malacca Securities Sdn Bhd. M+ Global Invitation Code: UBZQ | WhatsApp: +60169059789 | Why Choose Dexter?
