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INTEGRATED ANNUAL REPORT 2019 Digital Telco

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INTEGRATED ANNUAL REPORT 2019 Digital Telco INTEGRATED ANNUAL REPORT 2019 Digital Telco Digital Businesses Guided by our broader purpose of Advancing Asia, Axiata Group Berhad together with our Operating Companies throughout our footprint of 11 countries in ASEAN and South Asia champion digital inclusion for communities through the provision of digital and connectivity solutions. This is achieved through the Infrastructure Group’s Triple Core Businesses namely Digital Telco, Digital Businesses and Infrastructure. For more details on our regional presence, please refer to page 4 IAR in the “Find Further Details Of Who We Are” section Integrated Annual Report 2019 IN THIS INTEGRATED ANNUAL REPORT 2019 SEE WHAT FIND FURTHER DETAILS READ HOW OUR UNDERSTAND HOW WE WE BASE OUR OF WHO WE ARE LEADERS CONTINUE TO PROGRESS STRATEGY PRESENTATION CREATE VALUE ON We Are Axiata 4 Chairman’s Message 8 The Environment We Operate In 22 This Is What We Do 6 Our Share Price Performance 10 The Importance Of Listening To Our Stakeholders 23 Our Dividend Policy 11 Our Risks Linked To Strategy 25 In Conversation With The Advancing Asia: Evolving And Adapting Our Strategy President & Group CEO 12 To A New Operating Landscape 28 Adapting Our Strategy To A New Operating Landscape 29 BE ASSURED OF OUR ASSESS HOW OUR TAKE MEASURE OF SEE HOW WE COMMITMENT TO TRANSPARENCY OPERATING COMPANIES OUR FINANCIAL INTEND TO CREATE AND ACCOUNTABILITY HAVE CONTRIBUTED TO PERFORMANCE LONG-TERM VALUE CREATING VALUE Governance Is At The Heart Of Delivering 2019 Overview Of Operating Financial Review 40 Our Value Creation Model 32 To All Stakeholders 70 Companies’ Performance 49 Consolidated Statement Of Delivering Long-Term Value To Our Governance Structure 71 Celcom Axiata 50 Comprehensive Income 43 Shareholders 33 Who Governs Us 72 XL Axiata 52 Consolidated Statement Of Building A Modern, Agile And An Experienced Leadership 74 Dialog Axiata 54 Cash Flows 43 Digital Asian Talent Factory 34 Our Governance At A Glance 78 Robi Axiata 56 Consolidated Statement Of Becoming A Trusted And Embedding Sustainability Into Our Governance Structures 79 Smart Axiata 58 Financial Position 44 Reliable Digital Partner 35 Board Leadership And Effectiveness 80 Ncell Axiata 60 Group Financial Analysis 2019 45 Supporting Governments And Board Committees 83 edotco Group 62 Group Financial Position 46 Communities In Our Markets 36 Board Accountability 85 Axiata Digital 64 Key Performance Indicators 47 Enabling Digitally-Connected Internal Control And Risk Management 87 Boost 65 Societies 37 Cyber Security Steering Committee 88 Aspirasi 66 Minimising Environment Impact 38 Communication With Stakeholders 89 ADA 67 Apigate 68 ADDITIONAL INFORMATION Corporate Information 92 Integrated Annual Report 2019 SEE WHAT WE BASE OUR PRESENTATION ON Reporting Philosophy Approval by the Board Materiality Look out for these This is Axiata Group Berhad’s (Axiata or the Group) 2019 Integrated Annual The Board of Directors (Board) has applied its collective We have conducted our materiality assessment in line with Bursa Malaysia throughout the report: Report (IAR), prepared according to the International Integrated Reporting mind in preparing and presenting Axiata’s 2019 IAR as Securities Berhad’s (Bursa Malaysia) Listing Requirements. We have Council’s (IIRC) International <IR> Framework. guided by the IIRC’s International <IR> Framework. sought our stakeholders’ input in addition to the business’ perspectives. These include risks identified through our risk management framework in IAR Scope and Boundary • Tan Sri Ghazzali Sheikh Abdul Khalid determining the material issues which impact our ability to create value • Tan Sri Jamaludin Ibrahim over the short, medium and long-term. Our strategic responses to these This IAR provides an account of our financial and non-financial Reference to another section performance, opportunities, risks and outcomes relating to our value • Dato’ Mohd Izzaddin Idris material issues are presented throughout this report. or page in this Integrated creation abilities. It covers the activities of our Triple Core Business of • David Lau Nai Pek Annual Report 2019 Forward-Looking Statements Digital Telco, Digital Businesses and Infrastructure, for the period of • Dato Dr Nik Ramlah Nik Mahmood 1 January 2019 till 31 December 2019. • Dr David Robert Dean As our business operates in a perpetually changing environment, it is subject to uncertainties that could cause actual results to differ from those SNCR • Tengku Dato’ Sri Azmil Zahruddin Raja Abdul Aziz Assurance reflected in the forward-looking statements presented in this report. • Khoo Gaik Bee Our Annual Financial Statements (AFS) have been audited as fully disclosed Reference to the in the accompanying Governance and Audited Financial Statements 2019. • Thayaparan S Sangarapillai Information on Exclusions Sustainability & National Limited assurance has been provided on selected disclosure(s) within our • Ong King How Our disclosure appetite guides the limitations of information available in Contribution Report 2019 Sustainability & National Contribution Report (SNCR) 2019. this report. GAFS AXIATA’S 2019 INTEGRATED ANNUAL REPORT SUITE IS MADE UP OF THE FOLLOWING: Reference to the Governance Reporting IAR GAFS SNCR & Audited Financial Suites Statements 2019 Governance & Audited Sustainability & National Integrated Annual Report 2019 Financial Statements 2019 Contribution Report 2019 Reference to online material Disclosures • Our Management Discussion and Analysis is covered Governance and Compliance Financial Statements • Sustainability Framework on www.axiata.com under the following sections: Documents • Directors’ Report • Sustainability Governance - Read How Our Leaders Continue to Create Value • Full Directors and Management • Audited Financial • Our Commitments - Understand How We Progress Strategy Profile Statements • Third Party Assurance For more information: - Assess How Our Operating Companies Have • Statement on Risk Management • Independent Contributed to Creating Value and Internal Control Auditor’s Report - See How We Intend to Create Long-Term Value • Board Audit Committee Report • Abridged Annual Financial Statements • Additional Compliance • Corporate Governance Overview Statement Information Reporting • Malaysian Code on Corporate Governance 2017 • Malaysian Code on Corporate Governance 2017 • Bursa Malaysia Sustainability Reporting Guidelines Frameworks • Bursa Malaysia Listing Requirements • Bursa Malaysia Listing Requirements • GRI Standards (Core) Scan the QR code to • IIRC Integrated Reporting Framework • Companies Act 2016 • AA1000 Stakeholder Engagement view our IAR online • Companies Act 2016 • ISAE 3000 (Revised) - Limited Assurance Engagement IMPROVEMENTS IN AXIATA’S IAR IN 2019 General Improvements • Our narrative flow provides better insight into the Group’s strategy, and • This year we show a more holistic picture of the combination, • The IAR is more concise and includes sufficient context to understand our how it relates to the Group’s ability to create value in the short, medium interrelatedness and dependencies between the factors that affect the strategy, governance, performance and prospects without repetition. and long-term. Group’s ability to create value over time. Creating Value Through Governance Defined Business Segments 10 Key Focus Areas • We answer how our Group’s governance structure supports our ability to • We clearly define our operating units with our digital business verticals. • We detail the Group’s strategic focus, from our Triple Core Strategy to the create value over time. new 10 Key Focus Areas and progress on those 10 Key Focus Areas. IMAGES FOR THE INTEGRATED ANNUAL REPORT 2019 The images used in our cover and section separators are aimed at showcasing our impact and purpose across Axiata’s footprint markets, by depicting individuals interacting with technology within real-life settings, while not losing touch with their culture, heritage and communities. FIND FURTHER DETAILS OF WHO WE ARE Integrated Annual Report 2019 4 We Are Axiata As one of the leading regional telecommunications groups, Axiata is driven by our purpose of Advancing digital financial services, digital advertising and digital platform; and our towerco provides infrastructure Asia through digital innovation and technology. solutions and services. In order to capitalise on opportunities from the global digital revolution, Axiata has evolved from a holding With more than 12,9761 employees from diverse nationalities and cultures forming our dynamic talent base, entity with a portfolio of pure-play mobile assets. Today Operating Companies (OpCos) across our we are guided by our Uncompromising Integrity, Exceptional Performance (UI.EP) values in all that we do. footprint provide digital telco services to mobile, home and enterprise customers; digital businesses offer We are committed to creating value-driven outcomes for our stakeholders in line with our 4P Goals. KEY CORPORATE INFORMATION SHAREHOLDING STRUCTURE CORPORATE FACTS AT A GLANCE Our Purpose Our Vision Our Values 28 April 2008 Advancing Asia New Generation Digital Uncompromising Khazanah Listed on the Main Board of Bursa Champion by 2022 Integrity, Exceptional 36.79% Nasional Malaysia Performance Berhad RM37.9 billion Our Goals Market Capitalisation as at end 2019 The 4Ps that define our success 8th largest entity on FTSE Bursa 2 Performance Permodalan Malaysia KLCI (FMBKLCI) Nasional 18.70% constituents by market To be one of Asia’s largest telecoms and tech groups in all financial
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