Telecommunication companies (telcos) in the Asia-Pacific region will register their highest revenue growth since 2016, driven by higher data and broadband consumption among others, global rating agency Moody's said.
This estimate excludes 2021's low base effect, stated the new report that maps out the relative positioning of 20 rated telcos in the region.
Moody's new report provides insights and extensive data on telcos, comparing their key financial metrics, regulatory environment as well as environmental, social and governance scores.
"APAC's data and broadband consumption will thrive while further consolidation will temper competition over the next few years. These buoyant conditions will propel revenue at a pace of 4.0-4.5 per cent through 2023," says Annalisa di Chiara, a Moody's Senior Vice President.
Meanwhile, it said capital expenditure (capex) intensity for telcos in emerging markets such as China, India, Indonesia, Malaysia and the Philippines will be around 30-33 per cent as 5G investment rises.
The capital expenditure level would be lower, at 16-18 per cent, for telcos in the region's developed markets of Australia, Hong Kong, Japan, Korea, Singapore and New Zealand, similar to the level over the past two years, the rating agency said.
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