Investors

We, CIMB Investment Bank Berhad, refer to the announcement dated 30 January 2012 where we announced on behalf of Axiata that the SC had granted a further extension of time of 2 years (i.e. up to 29 January 2014) for Axiata to obtain the necessary approvals for the remaining 49 Outdoor Structures (as at 19 December 2011), which was one of the SC’s Conditions for approving, amongst others, the proposed listing of Axiata on the Main Market of Bursa Malaysia Securities Berhad.

As at 31 December 2013, Axiata Group is in the midst of appealing to the relevant local authorities with respect to applications for 28 Outdoor Structures that were declined. Subject to there being no material adverse effect to the operational and/or financial performance of Axiata Group, the said 28 Outdoor Structures may be dismantled and/or relocated if the legalisation process for the same (“Legalisation”) cannot be completed in the next 2 years.

On behalf of Axiata, we wish to announce that the SC had, through its letter dated 12 February 2014, granted an exemption to Axiata from complying with the Conditions, subject to the following conditions (“Exemption Conditions”): 

(i)         Axiata to provide an undertaking that it will continue with the Legalisation (“Undertaking”). Axiata had duly provided the SC with the Undertaking on 24 February 2014;

(ii)         Axiata to make an announcement on the current status of the Legalisation and remedial actions to be taken on the 28 Outdoor Structures; and

(iii)        Axiata is to disclose the status of the Legalisation in its annual report until such time the necessary approvals are obtained. 

Save for the disclosure in Axiata’s annual report to be made in due course, Axiata has complied with all of the Exemption Conditions.

This announcement is dated 24 February 2014.