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Download - Axiata Group Berhad - Investor Relations

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Notes to the Financial StatementsFOR THE FINANCIAL YEAR ENDED 31 DECEMBER 200927. ASSOCIATES (CONTINUED)The <strong>Group</strong>’s share of revenue and profit of associates is as follows:2009 2008RM’000RM’000Revenue 1,848,962 979,297Profit after taxation 160,783 83,007The <strong>Group</strong>’s share of assets and liabilities of associates is as follows:2009 2008RM’000 RM’000Non-current assets 8,262,942 1,942,290Current assets 1,065,989 422,146Current liabilities (1,136,604) (425,965)Non-current liabilities (982,769) (348,566)Net assets 7,209,558 1,589,905The <strong>Group</strong>’s share of contingent liabilities of associates amounted to RM655.1 million (2008: RM361.9 million).The <strong>Group</strong>’s equity interest in the associates, their respective principal activities and countries of incorporation are listedin Note 47 to the financial statements.(a)The shareholders of Idea had, at an EGM held on 25 June 2009, approved the amendments of Idea’s Articles ofAssociation to incorporate ‘special rights’ accorded to the Company so long as the Company holds at least 10%of the issued share capital of Idea (“Amending Articles”). The provisions of the Amending Articles are as outlinedin the Subscribers Agreement dated 25 June 2008 between the Company and its wholly-owned subsidiary, TMIMand Idea in relation to the subscription by TMIM of approximately 14.99% of the enlarged issued and paid-up sharecapital of Idea, which amongst others includes:(i)The Company’s rights upon further issue of ordinary shares by IdeaAny offer of Idea Shares or any other convertible securities into Idea Shares or right to call for the issue ofIdea Shares which will cause for dilution in shareholding of the Company’s interest is to be offered to theCompany or its nominees as to maintain a base shareholding level on a full diluted basis or at a rate agreedat any time.<strong>Axiata</strong> <strong>Group</strong> <strong>Berhad</strong> • 242

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