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Integrated Annual Report 2020 Malaysia’S No Integrated Annual Report 2020 Malaysia’s No. 1 network. Trusted since 1995. From mobile provider to converged solutions provider 1995 > 1998 > 1999 > 2000 > 2002 > 2003 > Maxis journey Moves in to Hotlink Prepaid Serves Enables mobile 1st in Malaysia: begins Menara Maxis launches 1,000,000 Internet access MMS service customers with GPRS 2004 > 2008 > 2009 > 2011 > 2011 > 2012 > 1st in Malaysia: 1st in Malaysia: 1st in Malaysia: Serves 1st in Malaysia: 1st in Malaysia: Caller ringtones 10,000,000 iPhone 3G households with GPRS data roaming Uptime Institute customers Maxis Home Fibre to Bridge Alliance Tier III-certified countries data centre 2013 > 2014 > 2015 > 2016 > 2016 > 2017 > 1st in Malaysia: Launches Introduces Introduces Introduces Introduces 4G mobile service MaxisONE Plan Zerolution, and Maxperts, eKelas, a unique NeXT, smartphones and smartphones and MaxisONE innovative way to specialist services community outreach made for Malaysians Business, the first own devices for home fibre programme to bridge unlimited text and digital learning talk plan 2018 > 2018 > 2018 > 2019 > 2019 > 2020 > Launches Launches 1st in Malaysia: 1st in Malaysia: Launches Launches our MaxisONE Retail, Hotlink Flex, Maxis Business 5G township 5G live trials new purpose an innovative suite the easiest way NB-IoT service initiative ‘Always Be Ahead’ of digital solutions to go postpaid We Are Maxis 2020 will go down in history as As we navigate through our transformation journey, we are committed to deliver the best experience COVID-19 posing an unprecedented to our customers through our range of worry-free, challenge in all aspects of flexible and personalised mobile and broadband life. With staying and working connectivity solutions, such as Cloud and Internet of Things (IoT) services, smart city solutions, smart from home amplifying the need homes and many more. We are empowering our for technology to keep us all consumers to adapt and navigate their lifestyles in connected, it will also be the year an increasingly digital world. Our ongoing efforts to transform ourselves digitally also prepared our remembered for profound changes employees to seamlessly transition to work from in communication behaviour. home remotely. We celebrated our 25th anniversary simultaneously We are passionate about creating a positive, with our new brand purpose. Over 25 years, Maxis long-term impact and value for the communities in has grown from strength to strength and has come which we serve, and society-at-large. We do this a long way from being a telecommunications by through our passion for education and bringing company, to the leading converged solutions greater digital awareness among underserved provider. We made a commitment to bring together communities through our various outreach the best of technologies to enable people, programmes and minimising our impact on the businesses and the nation to Always Be Ahead in environment. a changing world. Maxis’ journey is a story worth sharing with our customers, businesses, We recognise that our people are our greatest the Government and nation at large. strength and we are constantly reshaping our culture and values. In 2020, we did this by embedding the language of commitment, performance and possibilities that embody us. We will continue to embrace an innovative and This Integrated Annual Report can also be downloaded as a PDF file or digital mindset, which will help us realise our viewed in an interactive version at potential and raise our game to create amazing https://maxis.listedcompany.com/ar.html products and services for our customers. Table of Contents Overview pg. 3-26 Sustainability pg. 71-74 at Maxis We Are Maxis About This Report 3 Group Corporate Structure 4 Embedding pg. 76-111 Corporate Information 5 Trust Directors’ Profiles 6 Maxis Management Team 10 Board At A Glance 76 Maxis Senior Management Profiles 13 Corporate Governance Overview 78 Financial Highlights 14 Group Quarterly Financial Performance 15 Statement of the Nomination Committee 92 Group Statement of Financial Position 16 Audit and Risk Committee Report 96 Chairman’s Statement 19 Statement on Risk Management and 101 Internal Control CEO’s Statement 22 Directors’ Responsibility Statement 111 Our Strategy pg. 27-39 Financial pg. 112-235 and Value Creation Statements Our MAX Strategy 27 Directors’ Report 112 COVID-19 Strategy and Response Plan 28 Financial Statements 118 Our Top Material Matters 30 Statement by Directors 226 Key Business Risks and Opportunities 31 Statutory Declaration 226 Value Creation Model 38 Independent Auditors’ Report to the 227 Members of Maxis Berhad Our pg. 40-70 Other pg. 236-261 Performance Information Management Discussion & Analysis 40 Size of Shareholdings and Category of Shareholders 236 Business Review 48 Directors’ and CEO’s Interests in Shares 237 • Our Consumer Products 49 30 Largest Shareholders 239 • Our Enterprise Solutions 52 Information on Substantial Shareholders 241 • Our Customers 56 List of Properties Held 243 • Our Network and Systems 58 Additional Disclosures 245 • Our People 61 Material Contracts 246 • Our Community 66 Bursa Sustainability Content Index 250 • Our Environment 69 Glossary 253 Notice of Annual General Meeting 254 Proxy Form About This Report Integrated Reporting Forward-Looking Statements Welcome to Maxis Berhad’s (Maxis) Integrated Annual Report (IAR) 2020. This IR marks the second year of our three-year This IR contains forward-looking statements that involve integrated reporting journey. This report outlines our efforts known and unknown risks, uncertainties and other factors in creating value for our business and our stakeholders which may cause future performance, outcomes and results through the efficient management of our Six Capitals and to differ materially from those expressed or implied in key resources during the year. Our end goal is to create such forward-looking statements. Such forward-looking sustainable and impactful outcomes that are attributable to or statements are based on numerous assumptions and reflect associated with our key stakeholders. Maxis’ current views with respect to future events and are not a guarantee of future performance. Undue reliance Prepared with reference to the International Integrated shall not be placed upon such forward-looking statements Reporting Council’s (IIRC) Framework (January 2021), this as they are not guarantees of our future performance and report communicates our unique value creation activities and these statements are not externally assured. outcomes to our key stakeholders in 2020. Our key activities Navigation and value creation model are defined on pages 38 to 39. Through this IR, we are providing them with the information they This report employs the use of icons in linking our strategy require to make an informed assessment of our performance and future prospects. We strive for full transparency and and material matters to our activities and outcomes. accountability in all our communications with our stakeholders. Our MAX Strategy Our Reporting Scope and Boundary Be the Leading Converged Solutions Company in Malaysia Our report covers the financial period beginning 1 January 2020 till 31 December 2020 for Maxis Berhad. It includes information pertaining to both our financial and non-financial performance and the internal and external factors that affected their performance. The report indicates all business operations of Maxis including our subsidiaries. 6 Capitals Materiality Our financial capital enables Bearing in mind our vision of becoming Malaysia’s Leading Financial value creation with the other Converged Solutions Company, we have developed a strategic Capital 5 capitals through availability and plan which takes into account the material matters which management of our funds affect our business, as well as the risks and opportunities we have identified. Our report provides information on matters Our physical assets, such as our that could significantly affect our ability to create value over Manufactured network infrastructure and data the short, medium and long-term, as well as our outlook in Capital relation to these. centres, are important source of our competitive advantage Our Reporting Suite Innovation and technology has Intellectual always been Maxis’ core focus to The following publications comprise our Integrated Reporting Capital Suite, and the reporting frameworks and disclosure enhance our brand value requirements they adhere to. Our people are our most Reporting Human critical asset. We invest in Suite Reporting Framework Capital our people’s passion, hence Integrated • IIRC Integrated Reporting Framework creating our MaxisWay culture Annual (January 2021) Report • Bursa Malaysia Securities Berhad Main Market Our strong and lasting relationship 2020 Listing Requirements (MMLR) Social and with our key stakeholders is • Bursa Malaysia Sustainability Reporting Relationship created through mutual trust, Guide (2nd edition) - with reference to Global Capital partnerships, and value-added Reporting Initiatives (GRI) Standards products and services • United Nations Sustainable Development We make conscious efforts to Goals (SDGs) Natural • Malaysian Code on Corporate Governance 2017 minimise our environmental footprint Capital • Companies Act 2016 impacted by our value chain Financial • Malaysian Financial Reporting Standards (MFRS) Statements • International Financial Reporting Standards (IFRS) Feedback • Companies Act 2016 We welcome your feedback on our report which is available to
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