Kuala Lumpur, 1st June 2011 -Axiata Group Berhad, (Axiata), announced today that its shareholders approved all the resolutions proposed at its 19th Annual General Meeting (“19th AGM”). The following resolutions were tabled and subsequently approved by shareholders:-

Audited Accounts

Shareholders resolved the receipt of the audited financial statements for the financial year ended 31 December 2010 which saw an all round performance in terms of revenue and profit growth across all Operating Companies (OpCos), exceeding all key targets set for the year. On the back of an exceptional 2009, 2010 was equally as strong with the Group posting exceptional revenue growth of 17% Year-on-Year (YoY1). Earnings before interest, taxation, depreciation and armortisation (EBITDA) grew significantly at 30%, outpacing Revenue growth through diligent cost management, and normalized profits after taxation and minority interests (PATAMI) grew by 86%.The financial year 2010 return on invested capital (ROIC), without associates, was up 6 percentage points from 9.4% in 2009 to 15.9%. With associates, ROIC was up 4 percentage points from 7.9% in 2009 to 11.8%2.

Re-election of Directors

Datuk Azzat Kamaludin, Juan Villalonga Navarro and Muhamad Chatib Basri, were reelected as Directors by shareholders.

Re-appointment of Auditors

Shareholders approved the re-appointment of PricewaterhouseCoopers as the Auditors of the Company for the financial year ending 31 December 2011.

Amendment to performance-based employee share option scheme

Approval was granted by shareholders for the inclusion of a restricted share plan into the Group's existing performance-based employee share option scheme. This is in order to provide Axiata with the flexibility to have an alternative share-based instrument with the objective of optimising the effectiveness of the Scheme as a tool for employee incentivisation and retention.

1 YoY refers to FY2009 vs. FY2010

2 This excludes Idea impairment

Share buy-back authority and exemption for Khazanah Nasional Berhad fromundertaking a mandatory take-over offer pursuant to such share buy-back

As part of its capital management initiative, the shareholders and non-interested shareholders have respectively granted the authority to Axiata to acquire up to 10% of its own shares (Share Buy-Back Authority), and approved the exemption for Khazanah National Berhad from the obligation to undertake a mandatory take-over offer pursuant to the Malaysian Code on Take-Overs and Mergers, 2010 (Exemption). The Share Buy-Back Authority is conditional on the Exemption being approved by the Securities Commission.

Shareholders' Mandate for Recurrent Related Party Transactions

The shareholders have granted mandate for the Group to enter into recurrent related party transactions (RRPTs) of a revenue, or trading, nature with the Telekom Malaysia group of companies. The RRPTs are necessary for Axiata's business and are intended to meet its business needs on the best possible terms as well as provide additional business opportunities.

Maiden Dividends

Shareholders approved the payout of Axiata's maiden dividend of 10 sen per share (single tier), a 32% payout which is slightly over the 30% originally guided. The dividend is based on the group's normalised PATAMI. Axiata's Chairman, Tan Sri Dato' Azman Hj. Mokhtar said “We are very pleased to have obtained the strong support from our shareholders today. The support shown is a very important validation of the Group's strategy and results so far”. Remarking on the outcome, Dato' Sri Jamaludin Ibrahim, President & Group Chief Executive Officer of Axiata said “We are very happy with the outcome of the AGM and I would like to thank our shareholders for the continued support they have shown us today. 2010 marked another excellent year for Axiata. Coming off a spectacular 2009, we raised the bar even higher with 2010‘s performance which continued to break records and was our best year ever. This has enabled us to share our success with our shareholders, with the Group now offering both growth and dividends”.

 

About Axiata

Axiata is one of the largest Asian telecommunication companies, focused on high growth low penetration emerging markets. Axiata has controlling interests in mobile operators in Malaysia, Indonesia, Sri Lanka, Bangladesh and Cambodia with significant strategic stakes in India, Singapore and Iran. India and Indonesia are amongst the fastest growing markets in the world. In addition, the Malaysian-grown holding company has stakes in non-mobile telecommunication operations in Thailand. The Group's mobile subsidiaries and associates operate under the brand name ‘Celcom' in Malaysia, ‘XL' in Indonesia, ‘Dialog' in Sri Lanka, ‘Robi' in Bangladesh, ‘HELLO' in Cambodia, ‘Idea' in India, ‘M1' in Singapore and ‘MTCE' in Iran (Esfahan). The Group's, including its subsidiaries and associates, has over 160 million mobile subscribers in Asia. The Group revenue for 2010 was RM15.6 billion. The Group provides employment to over 25,000 people across Asia. Axiata's vision is to be a regional champion by 2015 by piecing together the best throughout the region in connectivity, technology and talent, uniting them towards a single goal: Advancing Asia. Axiata was awarded the Frost & Sullivan 2009 and 2010 Asia Pacific ICT Award for Best Telecom Group and the Telecom Asia Best Regional Mobile Group 2010 and 2011 for its operations in multiple Asian markets.

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