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Annual Report 2016-Part 1.Pdf SHAPING THE FUTURE TOWARDS A DIGITAL COMPANY ANNUAL REPORT 2016 MYANMAR MALAYSIA SINGAPORE CAMBODIA INDONESIA SOUTHEAST ASIA PRESENCE ASIA SOUTHEAST PAKISTAN INDIA SRI LANKA NEPAL BANGLADESH SOUTH ASIA PRESENCE ASIA SOUTH ADVANCING ASIA 2016 REVENUE RM21.6 billion USD5.2 billion RM657 million PAT USD159 million MARKET CAP RM42.3 billion USD9.4 billion Approximately SUBSCRIBERS 320 million EMPLOYEES 25,000 COUNTRIES 10 CONTENTS AT A GLANCE Governance GOVERNANCE 004 Group Profile Risk & Mitigation 073 Statement on Corporate Governance 006 Vision & Mission, Code of Conduct and Regulatory & Legal 096 Statement on Risk Management and Core Values Customer Privacy, Data Protection & Internal Control 007 Financial Calendar Cybersecurity 105 Board Audit Committee Report 008 Corporate Information Economic, Environmental and Social 108 Commitment to Customer Privacy and Sustainability 009 Financial Highlights Data Protection 035 2017 Outlook 109 Additional Compliance Information SHAPING THE FUTURE Industry and Market Outlook In 2017 011 Chairman's Statement Group Outlook for 2017 CORPORATE RESPONSIBILITY 013 President & Group CEO's Message 112 Sustainability at Axiata OPERATING COMPANIES BUSINESS 017 Group Strategy: Journey Towards A New 113 National Contribution REVIEW Generation Digital Champion 038 Celcom FINANCIAL STATEMENTS MANAGEMENT DISCUSSION & ANALYSIS 039 XL 115 Directors’ Responsibility Statement 019 2016 In Review: Group Performance 040 Dialog 116 Audited Financial Statements for the 042 Robi Operating Environment financial year ended 31 December 2016 Group Financial Analysis 2016 043 Smart 045 Ncell Group Financial Highlights OTHER INFORMATION 046 Idea Summary Breakdown of Operating 257 Shareholding Statistics Revenue & EBITDA 047 M1 260 List of Top Ten Properties Summary Breakdown of Assets & 049 edotco Group 261 Net Book Value of Land & Buildings Liabilities 050 Axiata Digital 262 Group Directory Five-Year Group Financial Summary 263 Glossary 027 2016 In Review: Overview of Operating CORPORATE PROFILE Companies' Performance 052 Group Corporate Structure Reporting By Geographical Location AGM INFORMATION 054 Entities Across Asia 030 2016 In Review: KPI, Investment 266 Notice of Annual General Meeting 055 Profile of Directors Performance & Prudent and Disciplined 273 Statement Accompanying Notice of Dividend Payout 060 Profile of Management Team Annual General Meeting Key Performance Indicators 065 Profile of Operating Companies’ 274 Administrative Notes for 25th Annual Management Team Investment Performance General Meeting 068 Significant Milestones Prudent And Disciplined Dividend Payout Proxy Form 070 Awards 033 2016 In Review: Governance, Compliance & EES • Unless otherwise stated, all corporate information in this Annual Report is at 31 March 2017 and all USD figures used in this Annual Report are based on the indicative exchange rate of 4.1439. GO DIGITAL Access our Digital Annual Report 2016 and Sustainability Report 2016 on www.axiata.com Download the App on Towards a Digital and Greener Future Axiata is increasingly committed towards a digital and greener future as we transition ourselves into a New Generation Digital Champion, where digitalisation is a priority. We strive to apply this in all areas of our business, including the way we present our Annual and Sustainability Reports to our shareholders and stakeholders. Each year, close to 6000 readers accessed our reports on digital platforms through the web and App downloads. This is well over three times the number of printed copies. In our efforts to further digitalise our ecosystem, whilst being mindful of our carbon footprint, we continue to expand our digital reports. For these reasons, we have reduced our printed Annual Report by 100 pages in being more efficient with the layout and in using less photos. Further to this, we have used environmentally friendly paper and have reduced the use of colour printing by going black and white with this Annual Report. Incorporating these changes, we have remained uncompromising on our required disclosure and content. For multimedia rich content of these reports, please visit www.axiata.com 004 AT A GLANCE Axiata Group Berhad | Annual Report 2016 GROUP PROFILE Axiata is one of the leading telecommunications groups in Asia with approximately 320 million subscribers in ten countries. In pursuit of our vision to be a New Generation Digital Champion by 2020, Axiata pieces together the best in the region in terms of innovation, connectivity and talent. With a diverse portfolio in mobile network, communications infrastructure and digital services, Axiata, through our operating companies, offers a range of innovative telecommunications products and services. Axiata Group Berhad | Annual Report 2016 AT A GLANCE 005 Approximately One of the 320 Million Leading Customers Telecommunications in Asia Groups in Asia Axiata has controlling interests in six mobile operators under the brand names of ‘Celcom’ in Malaysia, ‘XL’ in Indonesia, ‘Dialog’ in Sri Lanka, ‘Robi’ in Bangladesh, ‘Smart’ in Cambodia and ‘Ncell’ in Nepal, with strategic interests in ‘Idea’ in India and ‘M1’ in Singapore. ‘edotco’, our Group’s infrastructure company, operates in five countries to deliver telecommunications infrastructure services, and operates and manages a regional portfolio of over 25,000 towers. It aims to be one of the top regional tower companies and is committed to responsible and sustainable business operations. In 2012, Axiata established ‘Axiata Digital’ to capture the rapid growth in Internet-based businesses. Over the years, Axiata Digital has built a portfolio of 29 digital brands including three subsidiaries and seven joint ventures, servicing growing demands in mobile money, mobile advertising, e-commerce, entertainment and education. Group revenue for 2016 was at RM21.6 billion (USD5.2 billion) while market capitalisation stood at over RM42.3 billion (USD9.4 billion) by end 2016. We provide employment to more than 25,000 people across Asia. Axiata’s Journey Axiata was incorporated in Malaysia on 12 June 1992 as a private limited company under the name of Telekom Malaysia International (TMI), which then operated as a division within Telekom Malaysia Berhad (TM). TMI was subsequently demerged from TM and listed on Bursa Securities on 28 April 2008. In March 2009, TMI changed its name to Axiata Group Berhad and launched a new identity, enhancing our position as a leading mobile operator in Asia. The move was a reinforcement of our new business philosophy and commitment to Advancing Asia by addressing the unfulfilled communication needs of local populations in the region with affordable and innovative digital products and services. Since then, we have gone from 40 million customers, pre-demerger, to approximately 320 million across ten countries, making Axiata one of the leading mobile players in Asia. Our mobile telecommunications footprint now spans across the Asian continent, covering Malaysia, Indonesia, Sri Lanka, Bangladesh, Cambodia, Nepal, Myanmar, India, Singapore and Pakistan. Shaping The Future Axiata has always been ahead of the curve, quickly adapting to change and positioning its business model to capitalise on developments of an increasingly digitalised world. Parallel to its investments in network and technology modernisation over the years, Axiata has also evolved its business to embrace the digital age and fast growing demand for data. 2017 will be a critical year for Axiata as it progresses in its transformation beyond a traditional telecommunications company. In Advancing Asia, Axiata remains committed to its role as a responsible corporate citizen, to make a difference in people’s lives and help transform the countries in which it operates. Further details of Axiata’s sustainability and national contribution efforts are now available online at www.axiata.com. 006 AT A GLANCE Axiata Group Berhad | Annual Report 2016 VISION & MISSION CODE OF CONDUCT AND CORE VALUES Operating in ten countries in Southeast Asia and South Asia and serving approximately 320 million customers, Axiata's Vision and Mission is defined as follows. Vision Mission New Generation Digital Advancing Asia, by piecing together the Champion by 2020 best in Innovation, Connectivity & Talent Code of Conduct Axiata is committed to conduct its business fairly, impartially and in full compliance with all applicable laws and regulations in Malaysia and in countries where the Group has operations. The Group’s professionalism, honesty and integrity must at all times be upheld in all of the Company’s business dealings by all employees. Axiata has in place a Code of Conduct that serves as documentation of our commitment in ensuring our business dealings are conducted in a manner that is efficient, effective and fair. Axiata ensures that it is the responsibility of every employee to act in accordance with the policies detailed in the Group’s Code of Conduct. Core Values At Axiata, there are two core values that we embrace across the Group: Uncompromising Integrity and Exceptional Performance. These two values define who we are and how we operate. Uncompromising Integrity Exceptional Performance Always doing the right thing and fulfilling promises made to earn Always pushing ourselves to deliver benchmarked outstanding the trust of our stakeholders. performance. We are committed to upholding the highest standards of lawful We are determined to be the winner, leader and best-in-class in and ethical conduct, and in demonstrating honesty, fairness and what we do.
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