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Maxis Q3 2020 profit is RM365 million

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This is an article about a telecommunications company which is doing well; Maxis Q3 2020 result. Yes, if employees continue to get their usual pay, I think they may just contribute to the property market transaction numbers too.

I was a super loyal Maxis subscriber since year 2000 all the way to 2019. 🙂 Too bad, there’s really nothing special for anyone who’s too loyal to the same brand. Somehow, many promotions are aimed at new subscribers. Anyway, that’s an old story. Switching brands does not mean I do not care about a major telecommunication company here in Malaysia. Its results would definitely be an important sign that some businesses are not affected adversely by COVID-19. Here’s that latest Maxis Q3 2020 announcement. Yes, as per the title, it is considered a positive one, under current circumstances.

maxis q3 2020
Photo by bongkarn thanyakij on Pexels.com

Article in themalaysianreserve.com . MAXIS Bhd’s net profit for the third quarter ended Sept 30, 2020 (3Q20) rose slightly to RM365 million from RM358 million in 3Q19.

Its revenue declined 3.2% to RM2.21 billion from RM2.28 billion previously, it stated in a filing to Bursa Malaysia yesterday.

The company said the service revenue, excluding wholesale revenue, was up RM10 million to RM1.93 billion compared to 3Q19’s RM1.92 billion.

“Given the uncertainties, the group considered it prudent not to disclose a new outlook,” said Maxis in a statement.

Maxis is closely monitoring and assessing the impact of Covid-19, and once it becomes appropriate to disclose any material information, it will be made in accordance with the Main Market listing requirements.

“The group remains in a good financial position to weather the crisis created by the Covid-19 pandemic. Our balance sheet remains healthy, and our funding and liquidity are well positioned.

Do read here for the full article with more information: Article in themalaysianreserve.com

Well, I think Maxis employees are certainly one group which may be buying properties. If I am the bank, I would definitely give some extra care to companies which continue to do well during the current COVID-19 situation. As for Maxis’ employees, I think they should be smiling after this announcement? After all, if the company is profitable, at least there should be some rewards even for 2020? Let’s wish them all the very best. Yes, I have a few friends working there too. They should be smiling with this latest announcement. Keep up the good work. (no idea if anyone from Maxis reads this and would like to convert me back?)

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