Investors

We refer to the announcements dated 2 June 2021, 30 August 2021, 30 November 2021 and 28 February 2022 on the MOU between Axiata and RHB. Boost Holdings Sdn Bhd ("Boost Holdings"), a 75.36% subsidiary of Axiata had on 2 June 2021 entered into a Heads of Agreement with RHB, setting out the terms of the proposed application to Bank Negara Malaysia ("BNM") for a digital banking license. The joint application for the digital bank license by Boost Holdings and RHB Bank was submitted to BNM on 30 June 2021.

As announced by BNM on 29 April 2022, the Board of Directors of Axiata is pleased to inform that Boost Holdings has received conditional approval from BNM on 29 April 2022 for the joint application for a digital bank license by Boost Holdings and RHB Bank.

The new digital bank should be operational by 2023, and shall focus on the underserved, unserved and/or unbanked segment primarily within Malaysia with the aim of building a more inclusive financial sector in Malaysia.

As the proposed digital bank is only expected to commence operations in 2023, the proposed digital bank business will not have any effect on the consolidated earnings or net assets of Axiata for the financial year ending 31 December 2022.

The Company will make further announcements with regards to the development of the proposed digital bank in due course.

The media release on this matter is as attached. 

This announcement is dated 29 April 2022.