Investors

1. INTRODUCTION

The Board of Directors of the Company wishes to announce that Axiata had on 2 June 2021 entered into a Memorandum of Understanding (“MOU”) with RHB Bank Berhad (“RHB Bank”) to jointly explore potential collaboration opportunities to bring better customer experience and a better range of joint solutions to both RHB Bank and Axiata’s customers.   

2. RATIONALE FOR THE MOU

The rationale for the MOU is for Axiata and RHB Bank to explore potential strategic collaboration opportunities as follows:

• To enhance our joint customer ecosystems offering bundled digital solutions to be mutually agreed.
• To jointly apply to Bank Negara Malaysia (“BNM”) for a digital banking license; and
• To jointly explore other potential opportunities deemed suitable.

3. DURATION OF THE MOU

The term of the MOU shall be for a period of 2-years from its commencement date which is on 2 June 2021. Either party may terminate the MOU by giving 14-days’ prior notice to the other party.  The MOU may be extended on terms and conditions to be mutually agreed.

4. EFFECT OF MOU

The MOU will not have any effect on the issued share capital of Axiata and is not expected to have any material effect on the net asset, gearing and earnings of the Axiata group of companies for the financial year ending 31 December 2021.

5. INTEREST OF DIRECTORS AND MAJOR SHAREHOLDERS

None of the Directors or major shareholders of Axiata as well as persons connected with them have any interest, direct or indirect, in the MOU, saved as disclosed below:

a) As of 21 May 2021, the Employees Provident Fund Board (“EPF”), a major shareholder of Axiata with a 17.17% shareholding, also holds equity interest of 41.21% in RHB (as of 17 May 2021).  

6. APPROVAL OF SHAREHOLDERS

The MOU does not require nor is it subject to the approval of the shareholders of Axiata. 

This announcement is dated 2 June 2021.