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Maxis Bhd.

Company Background

Established in 1995, Maxis was one of the first mobile communications providers in Malaysia.

The company is constantly revamping its business model and was one of the first operators to introduce 4G services in 2013. Its 4G service reaches 15% of the Malaysian population, making Maxis a market leader in this area.

Maxis also offers cloud computing to small and medium businesses. The company's 2G and 3G networks cover 95% and 83% of the Malaysian population respectively.

Maxis' CEO is Norwegian Morten Lundal, former CEO of DiGi.Com, another Malaysian telecommunications company. He was also a top executive at Vodafone, the U.K.'s leading mobile phone company.

Maxis is more than 60% controlled by Usaha Tegas, a private investment arm of Malaysian billionaire Ananda Krishnan.

Business Summary

Maxis Bhd. is an investment holding company, which engages in the provision integrated telecommunication services. It operates through Malaysia, and Other Countries geographical segments. It offers postpaid, prepaid, phones, and broadband. The company was founded on August 7, 2009 and is headquartered in Kuala Lumpur, Malaysia.

Financial Highlights

Dec 2022 MYRUSD
Gross Profit2,262M513.93M
Operating income1,917M435.55M
Income before tax1,811M411.46M
Net income1,182M268.55M
Diluted EPS0.150.03
Dividends Per Share0.200.04
Total Assets23,045M5,231.55M
Total liabilities16,674M3,785.24M
Total equity6,371M1,446.31M
Operating cash flow2,875M653.21M
Currency in MYRCurrency in USD

Historical Data

 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 9,192.43M 9,313M 8,966M 9,203M 9,789M
Gross Profit 2,896.33M 2,664M 2,478M 2,187M 2,262M
Operating income 2,506.47M 2,308M 2,008M 1,928M 1,917M
Income before tax 2,368.72M 2,027M 1,852M 1,762M 1,811M
Net income 1,779.71M 1,512M 1,382M 1,308M 1,182M
EBITDA 3,586.95M 3,810M 3,640M 3,786M 3,638M
Diluted EPS 0.22 0.19 0.17 0.16 0.15
Dividends Per Share 0.20 0.20 0.16 0.16 0.20
Total Assets 20,287.58M 22,323M 21,932M 22,443M 23,045M
Total liabilities 13,137.85M 15,322M 14,882M 15,718M 16,674M
Total equity 7,149.73M 7,001M 7,050M 6,725M 6,371M
Operating cash flow 2,943.79M 2,989M 3,149M 3,450M 2,875M
 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 2,277.96M 2,247.89M 2,133.63M 2,220.13M 2,224.09M
Gross Profit 717.73M 643.01M 589.68M 527.59M 513.93M
Operating income 621.12M 557.08M 477.84M 465.11M 435.55M
Income before tax 586.98M 489.26M 440.72M 425.06M 411.46M
Net income 441.02M 364.95M 328.87M 315.54M 268.55M
EBITDA 888.87M 919.62M 866.21M 913.33M 826.56M
Diluted EPS 0.05 0.04 0.04 0.04 0.03
Dividends Per Share 0.04 0.04 0.03 0.03 0.04
Total Assets 4,909.27M 5,457.27M 5,452.33M 5,387.18M 5,231.55M
Total liabilities 3,179.15M 3,745.75M 3,699.68M 3,772.92M 3,785.24M
Total equity 1,730.12M 1,711.52M 1,752.64M 1,614.25M 1,446.31M
Operating cash flow 729.49M 721.46M 749.36M 832.27M 653.21M

Valuation Measures

Dec 2022
Operating margin19.58%
Profit margin12.07%

Key executives

  • Chief Executive Officer: Seow Eng Goh
  • Chief Financial Officer: Jennifer Wong
  • Chief Information Officer: May Ching Ng
  • Chief Corporate Affairs Officer: Mariam Bevi binti Batcha
  • Chief Technology Strategy Officer: Rob Sewell


  • Binariang GSM Sdn. Bhd. (62.2%)
  • Employees Provident Fund (11.7%)
  • Permodalan Nasional Bhd. (10.3%)
  • Kumpulan Wang Persaraan (1.4%)
  • Urusharta Jamaah Sdn. Bhd. (1.0%)
  • Public Mutual Bhd. (0.9%)
  • The Vanguard Group, Inc. (0.8%)
  • BlackRock Fund Advisors (0.7%)
  • Great Eastern Life Assurance Co. Ltd. (0.5%)
  • Eastspring Investments (Singapore) Ltd. (0.4%)

Contact Details

  • Website:
  • Address: Level 5-9, 11, 14-25 & 29-30, Menara Maxis, Kuala Lumpur, 50088, Malaysia
  • Phone: +60 3 2330 7000

Related Companies

  • Peering One Sdn. Bhd.
  • AudeoNet Sdn. Bhd.
  • Infrastructure Consulting & Managed Services Sd. Bhd.
  • Malaysian Landed Property Sdn. Bhd.
  • Maxis Collections Sdn. Bhd.
  • All Asia Digital Networks Pte Ltd.
  • PT Maxis Communications
  • Maxis Mobile Sdn. Bhd.
  • Maxis International Sdn. Bhd.
  • Advanced Wireless Technologies Sdn. Bhd.
  • Maxis Mobile Services Sdn. Bhd.
  • Maxis Broadband Sdn. Bhd.


    Last Updated on 24 Mar, 2023

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