6.
SiGNificANT GRoUp RESTRUcTURiNG, AcQUiSiTioNS ANd diLUTioN of iNTEREST
(coNTiNUEd)
(IV) Dilution of interest during the financial year
(a)
During the financial year, Sacofa Sdn Bhd ("Sacofa"), an associate of the Group and Celcom, undertook a
refinancing exercise which entails amongst others the issuance of up to RM400.0 million Islamic Medium Term
Notes, the issuance of up to RM50.0 million Islamic Commercial Paper and the 64.2 million bonus issue of
warrants on the entitlement basis of one (1) free warrant for every one (1) existing Sacofa ordinary share held
("Refinancing Exercise"). The Refinancing Exercise which was undertaken to refinance Sarawak Gateways Sdn
Bhd's existing RM240.0 million Sukuk Ijarah and Sacofa's RM160.0 million Sukuk Istisna. The Refinancing
Exercise was completed on 6 March 2009.
On 19 February 2009, the State Financial Secretary Inc ("SFS") exercised 20,700,000 warrants which resulted
in the increase in Sacofa's issued and fully paid-up share capital from RM64.2 million to RM84.9 million ("SFS
Warrants Exercise"). With the completion of the SFS Warrant Exercise, the Group's and Celcom's equity
interest in Sacofa was diluted from 20.00% to 15.12%. The dilution in interest did not have significant impact
to the Group.
7.
opERATiNG REVENUE
Group
Company
2009
2008
2009
2008
RM'000
RM'000
RM'000
RM'000
11,731,713
--
Mobile services
10,120,290
--
--
3,754,188
Dividend income
--
12,210
1,373,341
33,053
Others
1,227,421
7,407
13,105,054
3,787,241
Total operating revenue
11,347,711
19,617
Others include revenue from interconnect services, leased services, pay television transmission and other data
services.
Axiata Group Berhad · 200
