annual - Maxis

44 | Maxis BERHAD Annual Report 2009
Amidst the challenging operating environment, Maxis continued
to perform well. I am pleased to report that in 2009, revenue
reached a record RM8,611 million. We were also the first mobile
operator to cross the 12 million subscription mark in Malaysia.
We continue to record another year of over 50% EBITDA margin
while turning in EBITDA of RM4,337 million and a profit after tax
of RM2,232 million. This level of EBITDA margin and resultant
cash flow was achieved on the back of our strong financial
governance culture, effective cost control initiatives and
impressive non-voice revenue contribution.
2009 was also the year in which we took a step forward to invest
RM1.24 billion in capital expenditure to meet our customers’
future needs. We upgraded and modernised our entire 3G
network, continued improvements to the 2G network, started a
transformation of our IT systems infrastructure and elevated the
quality of service we provide customers. These improvements
benefit customers and our revenue today, and have also set the
stage for the rollout of an even more comprehensive and
compelling range of communications services to the market in
the future.
DIVIDEND PAYMENTS
The Board is pleased to recommend for shareholders’ approval at
the Annual General Meeting a final single-tier tax exempt
dividend of 3.0 sen per ordinary share (RM225 million) which,
together with the two interim single-tier tax exempt dividends of
6.0 sen each which were paid on 15 January 2010 and 30 March
2010 respectively (RM900 million), will total 15.0 sen in respect of
the financial year ended 31 December 2009. This brings the total
dividend paid and proposed for payment in 2010, since the listing
of Maxis Berhad on Bursa Securities on 19 November 2009, to
RM1,125 million.
Maxis adopts a progressive dividend policy which seeks a balance
between cash returned to shareholders by way of dividends and
appreciation in the market value of its shares.
The Company will also continue to adopt active capital
management in the implementation of its dividend policy to
maximise distribution of its earnings and surplus funds, after
setting aside adequate funding for capital expenditure and
working capital needs.
CORPORATE GOVERNANCE
The Board is committed to upholding and implementing the
highest standards of corporate governance and international best
practices throughout the length and breadth of our business.
Details of our corporate governance initiatives and the internal
control policies we employ are detailed in the relevant sections of
this Annual Report.
CORPORATE RESPONSIBILITY
As Malaysia’s leading mobile communications service provider
and a responsible corporate citizen, Maxis seeks to balance out its
economic ambitions with responsible corporate practices that
impact our stakeholders and the many communities in which we
operate. We continue to undertake Corporate Responsibility
(“CR”) initiatives that contribute to societal development and the
national agenda particularly in the areas of bridging the digital
divide, through the Maxis Cyberkids programme, and in helping
deserving Malaysian’s reach their academic potential through the
Maxis Scholarship for Excellence initiative. In 2009, the Maxis
Cyberkids Camp programme reached out to over 40 schools and
300 participants while the Maxis Scholarship for Excellence
programme provided scholarships for local and overseas
institutions of higher learning to 49 individuals.