Axiata's Group CEO's Contract Continued to see through Group's Regional Aspirations
Kuala Lumpur, 1st May, 2011 – Axiata Group Berhad ("Axiata") today announced that the Group has renewed President and Group CEO, Dato' Sri Jamaludin Ibrahim's contract for another three years. Dato' Sri Jamaludin Ibrahim has been CEO since 2008, at the point of Axiata's, then TMI, demerger from TM and has been instrumental in steering the group through difficult macro-economic conditions as well as hyper competition. Under his stewardship, Axiata has seen revenue grow by about 40%1 and profits almost quadrupling2. Similarly, the Group's cash position has almost doubled to RM6.3 billion, in just two years. By the end of 2010, Axiata's total subscriber base expanded to 160 million, up 80% from 2008, making the Group one of the largest telcos in the region. The Group also recently announced its maiden dividend of 10 sen per share (single tier), a 32% payout.
Axiata Chairman, Tan Sri Dato' Azman Hj. Mokhtar said "On behalf of the Board of Axiata, I am very pleased on the continuation of Dato' Sri Jamaludin's term. The Group's performance under his leadership speaks for itself, with double digit growth achieved in all key financial metrics. He has proven his strong execution skills, ability to lead a top performing team and track record in driving shareholder value in extremely tough markets".
Under Dato' Sri Jamaludin's tenure the Group has seen tremendous growth, with a brand new name and brand identity. Laying the foundations for sustainable growth, management teams across most operating companies have been strengthened and operating models improved, especially in the areas of strategy and planning, synergies and best practices, performance management, HR management, financial disciplines and governance.
President and Group CEO, Dato' Sri Jamaludin said "I am honoured to have been given this opportunity to serve for another 3 years. I would like to take this opportunity to thank the Board for their continued faith in me, our stakeholders for their support and of course my team, for all their hard work thus far. It has been an exciting three years and I am pleased by the progress we have seen. However, there is still so much more to be done, and in fact we have only just begun. I am looking forward to working with my team and the Board to build on the success so far".
Axiata is one of the largest Asian telecommunication companies, focused on high growth low penetration emerging markets. Axiata has controlling interests in mobile operators in Malaysia, Indonesia, Sri Lanka, Bangladesh and Cambodia with significant strategic stakes in India, Singapore and Iran. India and Indonesia are amongst the fastest growing markets in the world. In addition, the Malaysian-grown holding company has stakes in non-mobile telecommunication operations in Thailand.
The Group's mobile subsidiaries and associates operate under the brand name ‘Celcom' in Malaysia, ‘XL' in Indonesia, ‘Dialog' in Sri Lanka, ‘Robi' in Bangladesh, ‘HELLO' in Cambodia, ‘Idea' in India, ‘M1' in Singapore and ‘MTCE' in Iran (Esfahan).
The Group's, including its subsidiaries and associates, has over 160 million mobile subscribers in Asia. The Group revenue for 2010 was RM15.3 billion. The Group provides employment to over 25,000 people across Asia. Axiata's vision is to be a regional champion by 2015 by piecing together the best throughout the region in connectivity, technology and talent, uniting them towards a single goal: Advancing Asia.
Axiata was awarded the Frost & Sullivan 2009 and 2010 Asia Pacific ICT Award for Best Telecom Group and the Telecom Asia Best Regional Mobile Group 2010 for its operations in multiple Asian markets.