M1 anchors growth on fixed services

Sales from this segment rose by 22%.

M1 is depending on its fixed services segment for strength as its mobile arm continues to be badgered by over-the-top services.

According to RHB, there was a 22% yearly increase in fixed services sales, driven by the telco's ventures.

"M1 continues to enjoy good billing momentum from multi-year enterprise and public sector jobs, including smart nation projects," RHB noted

Looking forward, the brokerage firm said the telco is expecting good opportunities in the longer term from new digital and cloud based solutions and the launch of the nationwide narrowband Internet of Things (IoT) network, which would spawn innovative IoT applications.

To recall, the telco's core earning for the past quarter fell 21% due to higher finance charges and handset costs.