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FINANCIAL STATEMENTS
Axiata Group Berhad | Annual Report 2016
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5.
INCORPORATIONS, ACQUISITIONS, DISSOLUTIONS AND DILUTIONS OF INTERESTS (CONTINUED)
(b) Incorporations, acquisitions and dilutions of interests in the previous financial year
(i) Acquisition of Adknowledge Asia Pacific Pte Ltd (“AAP”)
On 3 December 2014, Axiata Digital Advertising Sdn Bhd (“ADA”), a wholly-owned subsidiary of Axiata Digital Services Sdn Bhd (“ADS”)
entered into a Subscription and Shareholders’ Agreement with Adknowledge International, Inc and AAP for the acquisition of 80.00% equity
interest in AAP for a total cash consideration of RM19.6 million (USD5.5 million). The acquisition was completed on 19 January 2015.
The above acquisition did not have any significant impact to the Group in the previous financial year.
(ii) Incorporation of Axiata SPV4 Sdn Bhd (“Axiata SPV4”)
The Company, had on 30 January 2015 completed the incorporation of Axiata SPV4, a private company limited by shares, under
Companies Act, 1965. Axiata SPV4 was incorporated with an authorised share capital of RM400,000 divided into 400,000 ordinary
shares of which its issued and paid-up capital is RM2. The nature of business to be carried by Axiata SPV4 is an investment holding
company.
The above incorporation did not have significant impact to the Group in the previous financial year.
(iii) Incorporation of Axiata Digital Innovation Fund Sdn Bhd (“ADIF”)
The Group, had on 26 March 2015 completed the incorporation of ADIF, a private company limited by shares, under Companies Act,
1965. ADIF was incorporated with an authorised share capital of RM400,000 divided into 400,000 ordinary shares of which its issued and
paid-up capital is RM2. The nature of business to be carried by ADIF is as venture capital company.
The above incorporation did not have significant impact to the Group in the previous financial year.
(iv) Additional investment in Digital Commerce Lanka (Private) Limited (“DCL”)
On 15 May 2015 (2014: 26 August 2014), Dialog Axiata Plc (“Dialog”) further increased its equity interest in DCL from 42.48% to 45.71%
(2014: from 28.32% to 42.48%) which DCL was classified as an associate of the Group.
On 15 September 2015, Dialog Holdings Lanka (Private) Limited (“DHL”), a wholly-owned subsidiary of Dialog acquired 740,000 ordinary
shares in issue of DCL for a total consideration of RM7.7 million (SLR247.9 million) which representing 54.29% equity interest in DCL.
Accordingly, the Group derecognised its investment as associate and consolidated DCL as investment in a subsidiary by the Group.
The above additional investment did not have significant impact to the Group in the previous financial year.
(v) Incorporation of Adknowledge Asia Pacific (India) Private Limited (“AAP India”)
ADS through its 80.00% subsidiary, AAP had, on 1 June 2015, completed the incorporation of AAP India, a private company limited by
shares, under the Companies Act, 2013.
The above incorporation did not have significant impact to the Group in the previous financial year.
(vi) Incorporation of edotco Holdings (Labuan) Limited (“edotco Holdings Labuan”)
On 20 July 2015, the Group announced the incorporation of edotco Holdings Labuan, a private company limited by shares, under the
Labuan Companies Act, 1990. edotco Holdings Labuan was incorporated with an issued paid-up share capital of USD2,000 divided
into 2,000 ordinary shares of USD1 each. The nature of business to be carried by edotco Holdings Labuan is as an investment holding
company.
The above incorporation did not have significant impact to the Group in the previous financial year.