Annual Report 2008 - Axiata Group Berhad - Investor Relations

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Annual Report 20084Axiata Group Berhad Annual Report 2008(formerly known as TM International Berhad)
ContentsI OPTImistic9 The Brand10 Who We Are and WhatWe Do11 Our Beliefs and Values12 Financial Calendar12 Corporate InformationII COLLABORATIVE16 Axiata Profile18 Regional Presence20 Group Corporate StructureIII EXCELLENCE24 Chairman’s Statement28 President and Group ChiefExecutive Officer’s BusinessReview37 Group Financial Overview38 Two-Year Group FinancialSummary39 Two-Year Group FinancialHighlights40 Simplified Group BalanceSheet41 Reporting by GeographicalLocation42 Group Financial Review46 Acquisition of Idea:Expansion into India48 Major Milestones51 Awards and AccoladesIV PRINCIPLED54 Board of Directors56 Profile of Directors62 Profile of Management Team67 Profile of OperatingCompanies’ ManagementTeam72 Statement on CorporateGovernance79 Directors’ Statement onInternal Control86 Board Audit CommitteeReportV LOCAL RELEVANCE98 Malaysia104 Indonesia108 Sri Lanka114 Bangladesh118 Cambodia120 India122 Singapore124 Iran126 Pakistan128 ThailandVI INNOVATION136 Products and ServicesCatalogue140 Products and Services ReviewVII UNCOMPROMISING146 Corporate Responsibility– Marketplace Perspective– People Perspective– Community Perspective– Environmental PerspectiveFINANCIAL STATEMENTS156 Directors’ Statement ofResponsibility157 Audited Financial Statementsfor the financial year ended31 December 2008305 Group Financial AnalysisOTHER INFORMATION309 Shareholding Statistics312 Additional ComplianceInformation315 Net Book Value of Land andBuildings316 List of Top Ten Properties317 Group Directory318 Glossary322 Notice of Annual GeneralMeeting325 Statement AccompanyingNotice of Annual GeneralMeeting326 Administrative Details for the17th Annual General Meeting• Proxy Form5
Page 1: ANNUAL REPORT 2008A X I ATA G R O U
Page 4 and 5: The Tangram ConnectionThe TANGRAM i
Page 9 and 10: OPTIMISTICThe bird in full flight s
Page 11 and 12: The name Axiata embodies who we are
Page 13 and 14: Our Beliefs and ValuesAxiata is the
Page 15: group COMPANY SECRETARYSuryani Huss
Page 18 and 19: Axiata ProfileAbout AxiataAxiata Gr
Page 20 and 21: Regional Presence18Axiata Group Ber
Page 22 and 23: Group Corporate StructureAs at 31 M
Page 25 and 26: EXCELLENCEThe arrow embodies Axiata
Page 27 and 28: Dear Shareholders,I am pleased to p
Page 29 and 30: Our tagline of “Advancing Asia”
Page 31 and 32: Dear Shareholders,This being our in
Page 33 and 34: GROUP PERFORMANCEREVIEWFor most of
Page 35 and 36: This hugely successful strategy, wh
Page 37 and 38: Strengthening governance included a
Page 39 and 40: +13.5%Group Financial OverviewOpera
Page 41 and 42: Two-Year Group Financial Highlights
Page 43 and 44: Reporting by Geographical Location5
Page 45 and 46: Dialog and TMIB had registered RM25
Page 47 and 48: TMIBFor the year ended 31 December
Page 49 and 50: PRE MERGERPOST SPICE MERGER13 No. o
Page 51 and 52: September 2006Dialog acquired 90.0%
Page 53: Awards and AccoladesCelcom (Malaysi
Page 56 and 57:
Board of DirectorsFrom left to righ
Page 58 and 59:
Profile of DirectorsTan Sri Dato’
Page 60 and 61:
Profile of Directors (cont’d.)Dat
Page 62 and 63:
Profile of Directors (cont’d.)Dav
Page 64 and 65:
Profile of Management TeamDato’ S
Page 66 and 67:
Profile of Management Team (cont’
Page 68 and 69:
Profile of Management Team (cont’
Page 70 and 71:
Profile of Operating Companies’ M
Page 72 and 73:
Profile Of operating Companies’ M
Page 74 and 75:
Statement on Corporate GovernanceAx
Page 76 and 77:
Statement on Corporate Governance (
Page 78 and 79:
Page 80 and 81:
Page 82 and 83:
Directors’ Statement on Internal
Page 84 and 85:
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Board Audit Committee ReportThe Boa
Page 90 and 91:
Board Audit Committee Report (cont
Page 92 and 93:
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LOCAL RELEVANCEThe key represents A
Page 101 and 102:
BUSINESS HIGHLIGHTS 2008Through the
Page 103 and 104:
Xpax also offers the budget-conscio
Page 105 and 106:
Business SolutionsWith its widest n
Page 107 and 108:
Business Highlights 2008XL expanded
Page 109 and 110:
Regulatory OverviewThe Indonesian r
Page 111 and 112:
Business Highlights 2008Dialog cons
Page 113 and 114:
FINANCIAL PERFORMANCEDialog Telekom
Page 115 and 116:
Mobile IndustryThe mobile telecommu
Page 117 and 118:
With its strengths and competencies
Page 119 and 120:
OUTLOOK FOR 2009Despite the absence
Page 121 and 122:
EBITDA margin stood at 25.9% whilst
Page 123 and 124:
Axiata’s investment into Idea was
Page 125 and 126:
BUSINESS HIGHLIGHTS 2008As at 31 De
Page 127 and 128:
OUTLOOK FOR 2009The telecommunicati
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REGULATORY OVERVIEWPakistan is gene
Page 131 and 132:
The technology-related business uni
Page 133 and 134:
Given the higher inflation and over
Page 135:
AWARDS• Prime Minister Award 2008
Page 138 and 139:
Products and Services CatalogueMala
Page 140 and 141:
Products and Services Catalogue (co
Page 142 and 143:
Products and Services ReviewAxiata
Page 144 and 145:
Products and Services Review (cont
Page 147 and 148:
UNCOMPROMISINGThe house demonstrate
Page 149 and 150:
Key Investor Relations initiatives
Page 151 and 152:
In line with this people strategy,
Page 153 and 154:
XL’s initiatives are focused on e
Page 155 and 156:
The Dialog - University of Moratuwa
Page 157 and 158:
Financial Statements156 Directors
Page 159 and 160:
directors’ reportThe Directors ha
Page 161 and 162:
DIRECTORSThe Directors who have hel
Page 163 and 164:
STATUTORY INFORMATION ON THE FINANC
Page 165 and 166:
BALANCE SHEETSAS AT 31 DECEMBER 200
Page 167 and 168:
CONSOLIDATED STATEMENT OF CHANGES I
Page 169 and 170:
COMPANY STATEMENT OF CHANGES IN EQU
Page 171 and 172:
NOTES TO THE FINANCIAL STATEMENTSFO
Page 173 and 174:
2 BASIS OF PREPARATION OF THE FINAN
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3 SIGNIFICANT ACCOUNTING POLICIES (
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4 CRITICAL ACCOUNTING ESTIMATES AND
Page 193 and 194:
5 SIGNIFICANT GROUP RESTRUCTURING,
Page 195 and 196:
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7(b) OTHER OPERATING COSTS (continu
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10 TAXATIONThe taxation expense for
Page 203 and 204:
12 SHARE CAPITALGroupCompany2008 20
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13 EMPLOYEES’ SHARE OPTION SCHEME
Page 207 and 208:
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14 OTHER RESERVESGroupCompany2008 2
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15 BORROWINGS (continued)2008Weight
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15 BORROWINGS (continued)(d)Consist
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15 BORROWINGS (continued)(f)Borrowi
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15 BORROWINGS (continued)(f)Borrowi
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16 AMOUNTS DUE TO FORMER HOLDING CO
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18 DEFERRED TAX (continued)The tax
Page 229 and 230:
20 INTANGIBLE ASSETS (continued)Goo
Page 231 and 232:
20 INTANGIBLE ASSETS (continued)(b)
Page 233 and 234:
21 PROPERTY, PLANT AND EQUIPMENT (c
Page 235 and 236:
21 PROPERTY, PLANT AND EQUIPMENT (c
Page 237 and 238:
22 INVESTMENT PROPERTIES (continued
Page 239 and 240:
25 JOINTLY CONTROLLED ENTITIES (con
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26 ASSOCIATES2008 2007RestatedMalay
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26 ASSOCIATES (continued)(a)Key ass
Page 245 and 246:
27 INVESTMENTS (continued)(ii)The f
Page 247 and 248:
30 TRADE AND OTHER RECEIVABLES (con
Page 249 and 250:
31 CASH AND BANK BALANCES (continue
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33 CASH FLOWS FROM/(USED IN) OPERAT
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34 CONTINGENCIES AND COMMITMENTS (c
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35 HEDGING TRANSACTIONS (continued)
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36 SIGNIFICANT EVENTS DURING THE FI
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36 SIGNIFICANT EVENTS DURING THE FI
Page 273 and 274:
37 SUBSEQUENT EVENTS (continued)(b)
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39 SEGMENTAL REPORTING (continued)S
Page 277 and 278:
39 SEGMENTAL REPORTING (continued)M
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40 FINANCIAL RISK MANAGEMENT OBJECT
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41 INTEREST RATE RISK (continued)Ma
Page 283 and 284:
41 INTEREST RATE RISK (continued)Ma
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42 CREDIT RISKFor on-balance sheet
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44 LIST OF SUBSIDIARIES (continued)
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44 LIST OF SUBSIDIARIES (continued)
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46 LIST OF ASSOCIATES (continued)%
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48 CHANGES IN COMPARATIVES (continu
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49 RELATED PARTY TRANSACTIONSAll re
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49 RELATED PARTY TRANSACTIONS (cont
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49 RELATED PARTY TRANSACTIONS (cont
Page 305 and 306:
INDEPENDENT AUDITORS’ REPORTTO TH
Page 307 and 308:
Group Financial AnalysisOperating R
Page 309 and 310:
The weakening of the IDR against US
Page 311 and 312:
Shareholding Statisticsas at 31 Mar
Page 313 and 314:
List of Top 30 Largest Shareholders
Page 315 and 316:
No.6.Compliance Issuevariation in r
Page 317 and 318:
Net Book Value of Land and Building
Page 319 and 320:
Group DirectoryAxiata Group BerhadL
Page 321 and 322:
EDGEEnhanced Data rates for GSM Evo
Page 323 and 324:
SLTSenior Leadership TeamSMESmall M
Page 325 and 326:
AS SPECIAL BUSINESS:To consider and
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EXPLANATORY NOTES ON SPECIAL BUSINE
Page 329 and 330:
PROXY14. A member entitled to atten
Page 331 and 332:
Proxy Form(Before completing the fo
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