‘Are Maxis users okay? No wind, no storm knowingly fell.
Shares of Maxis Bhd fell to an all -time low of RM3.40 during Bursa Malaysia's trading session today (June 10).
At 12 noon yesterday, its shares plunged 1 sen or 0.29% to RM3.40 from the opening at RM3.45.
Reaching the RM3.40 price level, its market capitalization also declined to RM26.69 billion.
So far this year, Maxis shares are understood to have experienced a fall of 29.31%.
For now, the main cause of the sudden fall in the telco's shares has not been identified.
Revealing the company's financial performance, net profit for the first quarter ended March 31, 2022 (1QFY22) decreased to RM298 million from RM334 million last year.
However, revenue for the quarter increased 7.4% to RM2.41 billion from RM2.24 billion driven by an increase in its services revenue of 3% to RM2.03 billion.
The increase was contributed by Maxis' core business including postpaid passes, broadband connectivity and its enterprise business.
Meanwhile, Maxis Bhd together with Celcom Axiata Bhd, DiGi Telecommunications and U Mobile acquired a majority stake in the government -owned 5G agency, Digital Nasional Bhd (DNB) last month.
It is indirectly contrary to the government's proposal to only want minority ownership for them.
