Axiata's balance sheet could improve significantly if it divests its entire stake in its tower unit Edotco, Maybank IB analyst Tan Chi Wei says in a note. He says the sale could sharply reduce debt with proceeds likely to be used to repay borrowings, helping offset earnings loss from the disposal through lower interest costs. Tan continues to view the stock's risk-reward positively, with net profit recovery and balance sheet repair seen as potential catalysts for a re-rating. Maybank maintains a buy rating and target price at 2.90 ringgit. Shares are up 1.5% at 2.09 ringgit. (yingxian.wong@wsj.com)