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Friday, August 26, 2016

Axiata revises up 2016 capex

Thursday, 25 August 2016 | MYT 2:40 PM
Axiata revises up 2016 capex

KUALA LUMPUR: Axiata Group Bhd is revising its capital expenditure for the year upwards to about RM6bil, with the bulk of it to be put towards improving its network quality in Malaysia, Indonesia and Bangladesh.

The group expects to spend about RM1.5bil to improve the quality of its network in Malaysia this year, compared to about RM850mil spent in the previous year.

President and group CEO of Axiata Tan Sri Jamaludin Ibrahim told a media briefing that the group was aggressively ramping up its network quality in the three countries.

The group's revenue for the first half ended June 30, 2016 grew 9.1% to RM10.3bil year on year, due to the earlier than expected consolidation of its new acquisition, Ncell in April.

Profit after tax, however, fell 45.7% to RM633mil mainly due to the performance of some of its operating companies, depreciation and amortisation, finance costs and forex losses.

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