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Axiata Group Berhad | Annual Report 2016
FINANCIAL STATEMENTS
156
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016
5.
INCORPORATIONS, ACQUISITIONS, DISSOLUTIONS AND DILUTIONS OF INTERESTS (CONTINUED)
(a) Incorporations, acquisitions, dissolutions and dilutions of interests during the financial year (continued)
(ix) Entry by XL into a Deed of Establishment with PT Indosat Tbk
XL, a subsidiary of the Company, had on 9 May entered into a Deed of Establishment (“Deed”) with PT Indosat Tbk (“Indosat Ooreedoo”)
for the establishment of a joint venture; PT One Indonesia Synergy Tbk (“JVCo”).
Under the terms of the Deed, XL subscribed 1,251 ordinary shares of IDR1.0 million totalling IDR1,251.0 million (RM0.4 million) representing
50.0% of the total issued and paid-up share capital of the JVCo with the remaining held by Indosat Ooreedoo.
The above establishment did not have any significant impact to the Group during the financial year.
(x) Dissolution of Advantage Maximum Network Co. Ltd (“AMN”)
AMN, subsidiary of ADS had, on 16 May 2016 received the dissolution certificate from Business Registration Office, Ho Chi Minh City.
Effectively, AMN ceased to be a subsidiary of the Group.
The above dissolution has no material impact to the Group during the financial year.
(xi) Dissolution of GSM One (L) Limited (“GSM One”) and GSM Two (L) Limited (“GSM Two”)
GSM One and GSM Two, wholly-owned subsidiaries of XL had on 15 June 2016 received the “Dissolution Certificate” from Labuan
Financial Services Authority. Effectively, GSM One and GSM Two ceased to be a subsidiary of the Group.
The above dissolution had no significant impact to the Group during the financial year.
(xii) Incorporation of Axiata Business Services Sdn Bhd (“ABS”)
On 29 July 2016, the Company incorporated its wholly-owned subsidiary, ABS (Company No. 1196307-H), a private company limited by
shares, under the Companies Act, 1965.
ABS was incorporated with an authorised share capital of RM400,000 divided into 400,000 ordinary shares of RM1 each. The issued and
paid-up share capital of ABS is RM2 and its intended principal activity is to provide international carrier services, global communications
products, managed information, communications and technology and internet of things.
The above incorporation did not have any significant impact to the Group during the financial year.
(xiii) Amalgamation/Merger of Robi Axiata Limited (“Robi”) and Airtel Bangladesh Limited (“Airtel”)
Robi, had on 28 January 2016 entered into an agreement with, inter-alia, Bharti Airtel Holdings (Singapore) Pte. Ltd. for the amalgamation
of Airtel with Robi on the terms set in the agreement and Companies Act, 1994 of Bangladesh.
On 16 November 2016 (date of acquisition), Robi and Airtel registered the Merger Filing with the Registrar of Joint Stock Companies
and Firms of Bangladesh. Pursuant to the above and in accordance with the agreement, the Proposed Amalgamation/Merger was
completed and the parties are in process to obtain the Merged License and completion of other procedural and/or administrative
formalities.