Annual Report 2010 - Axiata Group Berhad - Investor Relations

Chairman’s StatementLooking ahead, Axiata will certainly continue to facechallenges, both from an economic and industryperspective. Global uncertainty persists as doubts lingerover the sustainability of recovery in the US and Europe.Asia however, looks set to continue on a positivegrowth path. The World Bank reported that the globaleconomy grew by 3.9% in 2010. By contrast, East Asiaand the Pacific and South Asia grew 9.3% and 8.7% inthe same period. With Asia leading the global economicrecovery and the telecommunications market continuingto grow we can only benefit. Asia’s time is now and ouradvantageous footprint, addressing a target populationof 1.6 billion and a blended penetration of just over50%, puts us in an advantageous position to becomeboth a driver and a beneficiary.2011 will be a pivotal year for the Group. The Group ismore regional, better connected and more integratedthan any of our competitors. This factor together witha significantly enhanced balance sheet places Axiata inan excellent position to capture the opportunitiespresented in each of the countries it operates in.We could not have come this far without thecommitment, guidance and support of our Board,Management and employees, to all of whom I offer mythanks and congratulations for 2010’s significantachievements.In particular, I would like to thank Dato’ Yusof AnnuarYaacob, our Executive Director and Group ChiefFinancial Officer, who resigned from the Group. Axiatarecords our appreciation for his invaluable leadershipand contributions during his tenure with the Group.This year, the Board welcomed Muhamad Chatib Basri,who joins as Independent Non-Executive Director. ASenior Lecturer of the Department of Economics at theUniversity of Indonesia and Research Associate atInstitute for Economics and Social Research Indonesia,his wealth of experience and knowledge will be animportant addition to Axiata’s Board, providing us afresh perspective as we move towards our goal ofbecoming a regional champion.The Board also appointed Ann Almeida as a member ofthe Board Nomination Committee and BoardRemuneration Committee of Axiata. A Malaysian basedin the UK, Ann is the Group Managing Director, HumanResource, HSBC Holdings plc. Her role at HSBC, whichincludes nurturing performance culture and achievingemployee engagement ambitions across the globe, willgo a long way towards our ambitions for talentmanagement development.Axiata Group Berhad (242188-H) • annual report 2010 pg 14