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Axiata Group Berhad | Annual Report 2016
FINANCIAL STATEMENTS
244
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016
41. LIST OF ASSOCIATES
The investments in associates are as follows:
Name of company
Group’s effective ownership
interest
Principal activities
Country
and place of
incorporation
2016
2015
(%)
(%)
Associate held through Celcom Axiata Berhad
Sacofa Sdn Bhd
15.12
15.12
Telecommunication
infrastructure and services
Malaysia
Associate held through Celcom Intelligence Sdn Bhd
Celcom Planet Sdn Bhd
49.00
49.00
e-commerce platform
business
Malaysia
Associate held through Axiata Investments
(Singapore) Limited
M1 Limited
28.54
28.32
Mobile telecommunication
services, sales of
telecommunication
equipment and accessories
Singapore
Associate held through Axiata Investments 1 (India)
Limited and Axiata Investments 2 (India) Limited
Idea Cellular Limited
19.77
19.78
Mobile telecommunication
services
India
Associate held through Dialog Axiata PLC
Firstsource Dialog Solutions (Private) Limited
21.66
21.66
Information technology
enabled services
Sri Lanka
Associate held through Dialog Holding Lanka
(Private) Limited
Headstart (Private) Limited
21.66
21.66
Creating and providing
e-learning content
Sri Lanka
Associate held through Axiata SPV4 Sdn Bhd
Axiata Digital Innovation Fund Sdn Bhd
71.07
71.07
Venture capital
Malaysia
Associate held through Axiata Digital Services
Sdn Bhd
Localcube Commerce Private Limited (“Localcube”)
25.22
-
e-commerce
India
All associates have co-terminous financial year end with the Group except for Idea and Localcube with financial year ended on 31 March.