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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 200928. INVESTMENTS<strong>Group</strong>Company2009 2008 2009 2008RM’000 RM’000 RM’000 RM’000Quoted shares, at cost:Outside Malaysia (i) — 5,734,254 — —Unquoted shares, at cost:Outside Malaysia 882 489 — —In Malaysia, at written down value (ii) — — — —Convertible bonds, at cost:Outside Malaysia (iii) 179,685 179,685 179,685 179,685180,567 5,914,428 179,685 179,685Market value of quoted shares — 1,143,478 — —(i)The investment was reclassified as an associate during the financial year as mentioned in Note 27(a) to thefinancial statements.(ii)The following corporations in which the <strong>Group</strong> owns more than one half of the voting power, which, due topermanent loss of control or significant influence have been accounted as investments.– Tripoly Communication Technology Corporation Ltd^– TRI Telecommunication Zanzibar Limited*– TRI Telecommunication Tanzania LimitedIn view of the above, the financial statements of the respective companies have not been consolidated nor equityaccounted for. The Directors are of the view that the amounts would be insignificant to the <strong>Group</strong>.^Special Liquidation had commenced on 20 February 2008 pursuant to Chapter 3 of Procedures for Liquidationof Foreign-Funded Enterprise of the People’s Republic of China.* On 13 March 2006, the Company obtained an order from the High Court of Zanzibar to wind up the companypursuant to Section 218 (c) and (f) of the Zanzibar Company Decree Cap. 153.(iii)This investment comprises an investment in a 12 years, 3% convertible bond of USD55.0 million. The bond,together with interest is repayable after 12 years, beginning year 2008.Annual Report 2009 • 245

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