Axiata Group Berhad Media Statement in Relation to The Edge Online Article titled 'Nepal’s Central Bank Bars Axiata from Repatriating Dividends'
Kuala Lumpur, 12 July 2017 – Axiata Group Berhad (“Axiata” or “the Group”) refers to the article in The Edge Online, “Nepal’s Central Bank intends to bar Axiata from repatriating its dividends” dated 11 July 2017. Axiata wishes to clarify that it has not received any official communication or direction from Nepal’s Central Bank or relevant Nepali authorities on the matter.
As announced by Axiata to Bursa Malaysia Securities Berhad on 5 June 2017, Nepal’s Large Taxpayers Office (“LTPO”) in its confirmation letter to Ncell Private Limited (“Ncell”), conclusively certified and acknowledged that Ncell is fully cleared of CGT payment with the further advance deposit of approximately NPR13.6 billion paid to the LTPO as directed by the agency.
Axiata is confident that the Government of Nepal will not discriminate and contradict the aegis of the Bilateral Investment Treaty by blocking Axiata from repatriating its dividends rightfully due to the Group as foreign investor in the country.
As one of the largest Asian telecommunications companies, Axiata today operates in ten countries, servicing over 320 million subscribers. With a diverse portfolio in mobile network operations, communications infrastructure services and digital services, the Group pieces together the best in innovation, connectivity, and talent in its vision of Advancing Asia.
Axiata has controlling stakes in market leading mobile operators in South East Asia and South Asia. Axiata Group of companies operate under the brand name of ‘Celcom’ in Malaysia, ‘XL’ in Indonesia, ‘Dialog’ in Sri Lanka, ‘Robi’ in Bangladesh, ‘Smart’ in Cambodia and 'Ncell' in Nepal. Further to this, the Group also holds strategic interests in ‘Idea’ in India and ‘M1’ in Singapore.
edotco, the Group’s integrated infrastructure services company, operates in six countries to deliver telecommunications infrastructure services, operating a portfolio of over 25,000 towers (operated and managed) across 5 countries. It aims to be one of the top regional telecommunications tower companies and is committed to responsible and sustainable business operations.
Axiata Digital (“AD”), its digital services arm, captures the rapid growth in internet-based businesses through its portfolio of 24 digital brands, servicing growing demands in mobile money, mobile advertising, e-commerce, entertainment and education.
As a committed and long-term investor, Axiata provides employment to 25,000 people within its operations. In line with its sustainability goals, the Group actively supports and drives young talent development; disaster response and recovery; as well as green initiatives.