M1

M1: (S$2.52) Axiata mulls potential stake purchase
- Largest shareholder and Malaysia's largest mobile operator, Axiata Group is keen to raise its stake in M1
- Axiata currently owns a 28.5% stake in M1, which was acquired in 2010 at an average cost of ~$1.42 (after dividends)
- Earlier this year, Bloomberg reported that Temasek Holdings was weighing the possibility of Keppel Corp selling its 19.2% stake in M1.
- Maybank KE recently downgraded the stock to Sell from Hold with a TP of $2.04 (prior: $2.94) and FY16e dividend yield of 5.7%.