[01] Lam Weng Siew, Centre for Business and Management, Department of Physical and Mathematical Science, Faculty of Science, Universiti Tunku Abdul Rahman, Perak Campus, Kampar, Perak, Malaysia. [02] Lam Weng Hoe, Centre for Business and Management, Department of Physical and Mathematical Science, Faculty of Science, Universiti Tunku Abdul Rahman, Perak Campus, Kampar, Perak, Malaysia.

Mobile telecommunications companies offer the network communication services to the users around the world. Maxis Berhad, Digi. Com, Telekom Malaysia and Axiata Holdings are the four mobile telecommunications companies listed on main market in Malaysia stock market. Investors can get return from investing in these mobile telecommunications companies by constructing the optimal portfolio. The selection of mobile telecommunications companies in a portfolio can be done by applying the mean-variance model. The objective of this paper is to determine the optimal portfolio composition and performance for the mobile telecommunications companies in Malaysia using mean-variance model. The results of this study show that the optimal portfolio consists of four mobile telecommunications companies with different weights to achieve the target weekly return of 0.1577% at minimum risk of 1.3226%. This implies that the mean-variance model can be applied effectively in the investment of mobile telecommunications companies in Malaysia. The significance of this study is to determine the optimal portfolio for the mobile telecommunications companies in Malaysia to achieve positive target return at minimum risk.

Mean Return, Risk, Optimal Portfolio, Mobile Telecommunications Companies

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