A traditional Malay silk woven fabric

M a l ays i a - Ke b aya S o n g ke t

Advancing
Asia
RM24.4 billionREVENUE
RM49.7 billionMARKET CAP
RM1.2 billionPAT
~350 millionCUSTOMERS
~27,000EMPLOYEES
11COUNTRIES
2017
Infrastructure
Digital
Businesses Digital Telco
PAKISTAN
SRI LANKA
INDIA
NEPAL
MYANMAR
CAMBODIA
MALAYSIA
SINGAPORE
INDONESIA
THAILAND
BANGLADESH

M a l ays i a - Ke b aya S o n g ke t
Asia – a continent characterised by multi-faceted and diverse cultures. As one of the leading telecommunications groups in the region, Axiata, shares many commonalities and
traits with the people we serve and the countries we operate within.
The myriad traditional costumes depicted in our Integrated Annual Report 2017 suite represents the diversity and multi-dimensional cultures of our regional footprint. The double
imagery treatment, with images of major Asian cityscapes transposed within the costumes and juxtaposed with the Prism, represents our vision of Advancing Asia.
Malaysia
Kebaya Songket
A traditional Malay silk woven fabric,
with interweaved gold or silver threads
in an intricate pattern, the Kebaya
Songket was customarily the choice
fabric for royal families. Its use has
evolved over time, and these days, it
is widely used by brides and grooms
during their wedding ceremonies.
Indonesia
Linto Baro
Aceh’s traditional clothing for men,
known as the Linto Baro comprises
a set of a Meukasah shirt, a pair of
Siluweu pants, an Ijo Krong sarong
cloth, complemented by headgear
known as Meukeutop. When worn, it
is usually accompanied by a traditional
weapon known as a Siwah or Rencong.
Nepal
Gunyo Cholo
The Nepalese celebrate the coming
of age of their daughters with a
ceremony during which she will be
gifted with the traditional outfit of
Gunyo Cholo, which is also the name
of the ceremony. The ceremonial
gifting signifies the girls’ transition
from childhood to womanhood.
India
Sherwani
In India, the Sherwani is
primarily worn during
traditional family functions
such as weddings. Its
origins can be traced
back to Central Asia, to
the times of the Turkish
and Persian Nobles in
the Delhi Sultanate and
Mughal Empire, as their
choice of dress code.
I n d i a - Sh e r wa n i
Bangladesh
Salwar Kameez
Worn by Bangladeshi
men, the Salwar Kameez
is characterised by
a unique pattern of
finely woven, quilted or
embroidered patchwork.
The Salwar Kameez
is donned as formal
ceremonial wear.
B a n g l a d es h - S a l wa r Ka m e e z
Cambodia
Sampot Tep Apsara
Since ancient times,
the Sampot Tep Apsara
has been the style of
dress worn by Khmer.
As a famous traditional
Sampot from the era of
the Khmer empire, it can
be found on the bas-
reliefs of mythological
female beings known
as Apsaras, carved on
the walls of Cambodia’s
World Heritage Site,
the Angkor Wat temple
complex.
C a m b o d i a - Sa m p o t Te p A p s a ra
Malaysia
Marik Empang
The Marik Empang,
together with an ornate
headdress called the Sugu
Tinggi, is the traditional
dress worn by Iban women
in Sarawak, Malaysia.
Usually a bright red, it
features a combination of
beads and a hand-stitched
cotton outer garment,
and required to be worn
during festivals and special
occasions.
I b a n , M a l ays i a - M a r i k E m p a n g
Indonesia
Daro Baro
As the traditional dress
for the women of Aceh,
the Daro Baro bears a
conservative design,
aligned with Islamic
principles of dressing. It
is generally bright and
colourful, and often paired
with gold embroidered
black trousers, along with
a headdress of golden
flowers.
I n d o n es i a - Da ro B a ro
Sri Lanka
Saree
As the traditional dress
of Sri Lankan women,
especially for official
events and ceremonies,
the Saree’s bright,
colourful and ornate
design is draped over a
full blouse, and partially
tucked in at the front.
Sr i La n ka - Sa re e
Malaysia
Sirat
The traditional dress of
Iban men is the Sirat, a
woven loin-cloth worn
together with a Baju
Kebat. It is a warrior’s
outfit, and accompanying
accessories include a
shield called the Terabai,
a sword known as the
Parang Ilang, a Lampit
belt, a Tumpa Lengan
armlet and an anklet
known as Tumpa Betis,
decorated with hornbill
and great Argus feathers.
I b a n , M a l ays i a - Si ra t
The Cultures of Asia Integ rated An n ua l Re p or t 2 017
N e p a l - G u nyo C h o l oz
I n d o n es i a - Li n to B a ro

Group Company Secretary
Suryani Hussein
LS0009277
Registered Office
Level 5, Corporate Headquarters
Axiata Tower, 9 Jalan Stesen Sentral 5
Kuala Lumpur Sentral
50470 Kuala Lumpur, Malaysia
Tel : [phone]
Fax : [phone]
Website
www.axiata.com
Investor Relations
Tel : [phone]
Fax : [phone]
Email : [e-mail]
Stock Exchange Listing
Listed on Main Market of Bursa Malaysia
Securities Berhad
Listing Date : 28 A pril 2008
Stock Code : 6888
Stock Name : Axiata
Stock Sector : Trading/Services
Tan Sri Datuk Wira Azman
Hj. Mokhtar
Chairman
Non-Independent Non-Executive
Director
Tan Sri Jamaludin Ibrahim
Managing Director/President &
Group Chief Executive Officer
Tan Sri Ghazzali Sheikh
Abdul Khalid
Independent Non-Executive Director
Datuk Azzat Kamaludin
Senior Independent Non-Executive
Director
Dato’ Mohd Izzaddin Idris
Non-Independent Non-Executive
Director
David Lau Nai Pek
Independent Non-Executive Director
Dr David Robert Dean
Independent Non-Executive Director
Dr Muhamad Chatib Basri
Independent Non-Executive Director
Dato Dr Nik Ramlah Nik Mahmood
Independent Non-Executive Director
Tengku Dato’ Sri Azmil Zahruddin
Raja Abdul Aziz
Non-Independent Non-Executive
Director
Board of Directors
Share Registrar
Tricor Investor & Issuing House Services
Sdn Bhd (Company No. 11324-H)
Unit 32-01, Level 32, Tower A
Vertical Business Suite
Avenue 3 Bangsar South
No. 8, Jalan Kerinchi
59200 Kuala Lumpur, Malaysia
Tel : [phone]
Fax : [phone]
Auditors
PricewaterhouseCoopers PLT
(LLP0014401-LCA & AF 1146)
Level 10, 1 Sentral, Jalan Rakyat
Kuala Lumpur Sentral
50706 Kuala Lumpur, Malaysia
Tel : [phone]
Fax : [phone]
Integ rated An n ua l Re p or t 2 017
Corporate Information

Dividends
23 May 2018
26th Annual General
Meeting
24 April 2018
Notice of 26th Annual
General Meeting
and Issuance of
Annual Report 2017
22 February 2018
Audited consolidated results for
the fourth quarter and financial
year ended 31 December 2017
25 May 2017
Unaudited consolidated results
for the first quarter ended
31 March 2017
27 September 2017
Notice of Book Closure for Interim
Tax Exempt Dividend under Single-
Tier System of 5 sen per Ordinary
Share
11 July 2017
Payment for Final Tax Exempt
Dividend under Single-Tier System
of 3 sen per Ordinary Share
26 May 2017
Notice of Book Closure
for Final Tax Exempt
Dividend under Single-
Tier System of 3 sen
per Ordinary Share 9 November 2017
Payment for Interim Tax Exempt
Dividend under Single-Tier System
of 5 sen per Ordinary Share
12 October 2017
Date of Entitlement for Interim Tax
Exempt Dividend under Single-Tier
System of 5 sen per Ordinary Share
13 June 2017
Date of Entitlement for Final Tax
Exempt Dividend under Single-Tier
System of 3 sen per Ordinary Share
29 August 2017
Unaudited consolidated results for
the second quarter and half-year
ended 30 June 2017
23 November 2017
Unaudited consolidated results
for the third quarter ended
30 September 2017
Integ rated An n ua l Re p or t 2 017
Financial Calendar

Reporting Philosophy
This is Axiata Group Berhad’s (“Axiata” or “the Group”) inaugural Integrated Annual Report 2017
(“IAR”), prepared according to the International Integrated Reporting Council’s (“IIRC”) International
<IR> Framework.
In using the integrated reporting approach, we aim to provide our stakeholders with a concise yet
comprehensive account of our business and strategies and demonstrate how value is created and
shared.
This 2017 IAR applies global best practice which underpins our commitment to sustainable and
long-term value creation through a reporting process that provides greater readability, clarity,
coherence, materiality and connectivity of information.
Report Boundary and Scope
Axiata’s 2017 IAR covers financial reporting and also includes non-financial performance,
opportunities, risks and outcomes attributable to or associated with our key stakeholders, which
significantly influence our value creation abilities. It provides an account of our performance for
the Financial Year beginning 1 January 2017 and ending on 31 December 2017 and builds on our
previous reporting publications.
The report covers the primary activities of the Group, namely our three core business pillars of
Digital Telco, Digital Businesses and Infrastructure.
About This Report Integ rated An n ua l Re p or t 2 017
Axiata’s 6 Capitals
Financial
Our Financial Capital refers
to funds available to us.
Our Human Capital refers to
our people, a key resource in
sustaining our efforts towards
becoming a New Generation
Digital Champion.
Human
Our Manufactured Capital
refers to the infrastructure
that is available, built and
utilised to create value.
Manufactured
Our Natural Capital refers
to energy and other natural
resources used to operate
and maintain our networks.
Natural
Our Social and Relationship
Capital refers to our
relationships with our
stakeholders.
Social & Relationship
Our Intellectual Capital refers
to key intangible resources
which differentiate us in the
marketplace.
Intellectual
Assurance
Our Financial Statements (“FS”) have been audited as fully disclosed in the Governance & Audited
Financial Statements 2017 (“GAFS”). Limited assurance has been provided on selected disclosure in
our Sustainability and National Contribution Report 2017 (“SNCR”). Both of those processes make
up our 2017 IAR which contains both financial and non-financial indicators.
Approval by the Board
The Board has applied its collective mind in preparing and presenting Axiata’s first IAR, as guided by
the International <IR> Framework by the IIRC. The Board acknowledges its responsibility in ensuring
the integrity of this report, through good governance practices and internal reporting procedures.
Materiality
Our materiality assessment has been conducted in line with Bursa Malaysia Securities Berhad’s
Listing Requirements. In this IAR, we have linked them with our six capitals as shown below. This
approach underlines the relationship between our ability to create impact and the areas where we
can make positive change.
Forward Looking Statements
This report contains forward looking statements characterised by words and phrases relating to
future performance. Except for statements of historical fact, information contained within this IAR
constitutes forward looking statements. These statements are provided to give potential investors
and stakeholders the opportunity to understand management’s beliefs and opinions in respect of
Axiata’s future. These statements are not guarantees of future performance and undue reliance
should not be placed on them.

All of Axiata’s Reports are available online at www.axiata.com and can be downloaded in app form on
We welcome feedback on this report at: [e-mail]
Reporting Suite Disclosure Reporting Framework
Integrated
Annual Report
2017
• Management Discussion and Analysis
• Abridged Annual Financial Statements
• Corporate Governance Overview
• Malaysian Code on Corporate Governance 2017
• Bursa Malaysia Securities Berhad Listing Requirements
• IIRC Integrated Reporting Framework
• Companies Act 2016
Governance
& Audited
Financial
Statements
2017
Governance and Compliance
Documents
• Full Directors and Management Profile
• Statement on Risk Management and
Internal Control
• Board Audit Committee Report
• Additional Compliance Information
Financial Statements
• Directors’ Report
• Audited Financial Statements
• Independent Auditor’s Report
Governance and Compliance Documents
• Malaysian Code on Corporate Governance 2017
• Bursa Malaysia Securities Berhad Listing Requirements
• Companies Act 2016
Financial Statements
• International Financial Reporting Standards (“IFRS”)/
Malaysia Financial Reporting Standards (“MFRS”)
• Bursa Malaysia Securities Berhad Listing Requirements
• Companies Act 2016
Sustainability
& National
Contribution
Report
2017
• Global Reporting Initiative (“GRI”)
Standards
• Third Party Assurance
• Bursa Malaysia Securities Berhad Listing Requirements
• GRI Standards
• FTSE4Good Bursa Malaysia Index and ASEAN 5 Index
• MSCI Environmental, Social and Governance (“ESG”)
Index
• Dow Jones Sustainability Index
Reporting Frameworks and Reporting Suite
Suite of Reports
Axiata’s 2017 Annual Report Suite is made up of the following:
IAR SN
CR
GA
FS
Integ rated An n ua l Re p or t 2 017
About This Report
About This Report General reporting guidance
Basis of preparation and presentation
Our Business Organisational overview and external
environment
Statements and Analysis Performance & Outlook
Value Creation Model Business Model
Axiata 3.0 Strategy and resource allocation
Our Operating Environment Organisational overview and external
environment
Management of Material Risks
& Opportunities Risks and opportunities
Operational Performance Performance
Governance Governance
Application of International <IR> Framework by Axiata
Axiata’s Integrated Annual Report
2017
Content Framework as per International
<IR> Framework by the IIRC
Integrated Annual Report
2017
Sustainability & National
Contribution Report 2017
Governance & Audited
Financial Statements 2017
M a l ays i a - Ke b aya S o n g ke t
N e p a l - G u nyo C h o l oz
I n d o n es i a - Li n to B a ro

Contents
Statements and Analysis
Chairman's Statement 11
President & Group CEO’s Statement 14
Management Discussion and Analysis 18
02
Value Creation Model
Long-Term Group Value Creation Model 24
Creating Value as One of Asia’s Leading
Telecommunications Groups 25
Creating Value as Digital Talent Factory 26
Creating Value through Trust and
Customer Experience 27
Creating Value through National Contribution
and Social Development 28
Creating Value through Innovation and Connectivity 29
Creating Value through Innovative
Energy Saving Infrastructure 30
03 Operational Performance
Financial Review 40
Consolidated Statement of Comprehensive Income 44
Consolidated Statement of Financial Position 45
2017 Overview of Operating Companies’ Performance 46
Operating Companies’ Review 48
Sustainability Highlights 58
National Contribution 59
05
Governance
Corporate Governance Overview 61
Corporate Governance Framework 63
Principle A: Board Leadership and Effectiveness 64
Principle B: Effective Audit and Risk Management 81
Principle C: Integrity in Corporate Reporting and
Meaningful Relationship with Stakeholders 84
Entities Across Asia 85
Group Directory 86
06
Notice of AGM
Notice of Annual General Meeting
Proxy Form
07
Axiata 3.0
Long-Term Strategy Focused on Becoming
New Generation Digital Champion 32
8 Needle-Moving Strategic Initiatives 33
Axiata Engagement Model & 8 Principles 34
Embedding Sustainability into our Strategy 35
Our Operating Environment 36
Management of Material Risks and Opportunities 37
Stakeholder Engagement 38
04
Our Business
The Axiata Group 02
Embarking on Axiata 3.0 with a Triple Core Strategy 03
Triple Core Strategy at Centre Stage 04
Core 1: Transforming Mobile Operators to Digital
Telcos with Digitisation and Convergence 05
Core 2: Pivoting into Four Lines of
Operational Digital Businesses 06
Core 3: Fast-growing Regional Independent Tower
Company to Global Scale 07
Core Values Embraced Across the Group 08
Shareholding Structure and Portfolio of Investments 09
01
Integ rated An n ua l Re p or t 2 017
Unless otherwise stated:
• All corporate information in this IAR is at 31 March 2018
• All USD figures used in this IAR are based on the indicative exchange rate of 4.3015