Maxis's earnings momentum is expected to be supported by steady service revenue growth and efficiency gains, AmInvestment Bank's Paul Yap Ee Xing says in a note. Mobile revenue continues to benefit from the prepaid-to-postpaid migration and stronger convergence, while AI-led automation should lift productivity, he says. Yap adds that 5G-related concerns appear overstated, as network spending is increasingly becoming a reallocation of costs rather than incremental burden. He continues to see potential for dividend growth, given the telecom operator's strong free cash flow generation. AmInvestment Bank maintains a buy rating and keeps the target price at 4.45 ringgit. Shares are last at 3.45 ringgit.(yingxian.wong@wsj.com)