Investors

Axiata refers to the announcement dated 29 April 2022 on the conditional approval from Bank Negara Malaysia (“BNM”) for the joint application for a digital bank license by Boost Holdings, an indirect subsidiary of the Company, and RHB Bank.  The Company is pleased to announce the following:

(a) Boost Holdings and RHB Bank had on 1 March 2023, jointly incorporated a company known as Boost Berhad which will, subject to approval from BNM, be the legal entity to carry out the digital banking business (“Proposed Digital Bank”).   

(b) Boost Holdings, RHB Bank and Boost Berhad have on 31 March 2023, entered into a share subscription agreement (“SSA”) for Boost Holdings and RHB Bank to subscribe for 100 million new ordinary shares in Boost Berhad for a cash consideration of RM100 million for Boost Berhad to meet the minimum capital funds requirements for a digital bank of RM100 million unimpaired by losses.

(c) Additionally, Boost Holdings, RHB Bank and Boost Berhad have on 31 March 2023, entered into a shareholders’ agreement (“SHA”) to regulate the affairs of Boost Berhad as the Proposed Digital Bank, and Boost Holdings and RHB Bank’s relationship between themselves as shareholders of Boost Berhad.

The details of the announcement is as enclosed.

This Announcement is dated 31 March 2023.