Digital Businesses and Infrastructure

Ax iata Integ rated An n ua l Re p or t 2 018 | Ab o u t Th i s Re p or tINTEGRATED ANNUAL REPORT 2018
CHAMPIONING DIGITAL
INNOVATION & TECHNOLOGY
TO ADVANCE ASIA

PAKISTAN
SRI LANKA
NEPAL
MYANMAR
CAMBODIA
MALAYSIA
SINGAPORE
INDONESIA
THAILAND
BANGLADESH
AS A NEW GENERATION
DIGITAL CHAMPION
Infrastructure
As one of the leading telecommunications groups in
Asia in pursuit of its vision to be the New Generation
Digital Champion by 2022, Axiata has transformed
itself from a holding entity with a portfolio of
pure-play mobile assets into a Triple Core Strategy
driven business focusing on converged Digital Telco,
Digital Businesses and Infrastructure.
Today, Axiata’s operations include Enterprise
business solutions, digital financial services and digital
advertising across 11 countries, as well as a global
digital platform business that connects services and
content providers to 3.5 billion consumers.
Digital Telco
INDIA
Digital Businesses

Corporate Information
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
Tan Sri Ghazzali Sheikh Abdul Khalid
Chairman
Independent Non-Executive Director
Tan Sri Jamaludin Ibrahim
Managing Director/President & Group Chief
Executive Officer
David Lau Nai Pek
Senior Independent Non-Executive Director
Board of Directors
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 : Telecommunications &
Me dia
Dr Muhamad Chatib Basri
Independent Non-Executive Director
Dato’ Mohd Izzaddin Idris
Independent Non-Executive Director
Dato Dr Nik Ramlah Nik Mahmood
Independent Non-Executive Director
Dr David Robert Dean
Independent Non-Executive Director
Dr Lisa Lim Poh Lin
Independent Non-Executive Director
Khoo Gaik Bee
Independent Non-Executive Director
Tengku Dato’ Sri Azmil Zahruddin Raja
Abdul Aziz
Non-Independent Non-Executive Director
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]
Email : [e-mail]
Auditors
PricewaterhouseCoopers PLT
(LLP0014401-LCA & AF 1146)
Level 10, 1 Sentral, Jalan Rakyat
Kuala Lumpur Sentral
50706 Kuala Lumpur, Malaysia
Tel : [phone]
Fax : [phone]
Email : [e-mail]

Integ rated An n ua l Re p or t 2 018
Entities Across Asia
Year of Investment/Shareholding:
2008/100.0%
Nature of Business:
Mobile Telecommunications
Customers:
9.1 million
Technology Deployed:
Mobile - GSM/GPRS/EDGE, 3G/
HSPA+, LTE/LTE-A
Fixed Network - FTTx, LTE
No. of BTS:
2G – 8,256
3G – 14,775
4G – 13,269
Network Coverage (by population and
technology):
2G – 95.2%
3G – 93.1%
4G – 90.6%
MALAYSIA
Celcom Axiata
Berhad
Year of Investment/Shareholding:
2005/66.4%
Nature of Business:
Mobile Telecommunications and Multimedia
Services
Customers:
54.9 million
Technology Deployed:
Mobile - GSM/EDGE, 3G/HSPA+,
LTE/LTE-A
No. of BTS:
2G – 37,426
3G – 51,398
4G – 29,772
Network Coverage (by population and
technology):
2G – >93%
3G – >95%
4G – >92%
INDONESIA
PT XL Axiata
Tbk.
Year of Investment/Shareholding:
1995/83.3%
Nature of Business:
Communication Services, Telecommunications
Infrastructure Services, Media and Digital
Services including Financial Services and
Business Process Outsourcing Services
Customers:
13.8 million
Technology Deployed:
Mobile - GSM/EDGE, 3G/HSPA+,
LTE/LTE-A, 5G Pilot
Fixed Network - FTTx, DOCSIS, LTE, WIFI,
CDMA, WIMAX, IPTV, DTH
(satellite TV)
No. of BTS:
2G – 4,705
3G – 3,311
4G – 3,138
Network Coverage (by population and
technology):
2G – 98%
3G – 86%
4G FDD – 91%
4G TDD – 67%
SRI LANKA
Dialog Axiata PLC
Year of Investment/Shareholding:
2014/100.0%
Nature of Business:
Investment Holding and Operations of
Digital Services
MALAYSIA
Axiata Digital
Services Sdn Bhd
Year of Investment/Shareholding:
2013/72.5%
Nature of Business:
Mobile Telecom Operator
Customers:
7.5 million
Technology Deployed:
Mobile - GSM/EDGE, 3G/HSPA+,
LTE/LTE-A
Fixed Network - LTE
No. of BTS:
2G – 2,460
3G – 2,504
4G – 2,391
Network Coverage (by population and
technology):
2G – 98.7%
3G – 83.8%
4G – 73.3%
CAMBODIA
Smart Axiata
Co., Ltd.
Year of Investment/Shareholding:
1996/68.7%
Nature of Business:
Mobile Telecom Operator
Customers:
46.9 million
Technology Deployed:
Mobile - GSM/EDGE, 3G/HSPA+,
LTE/LTE-A
No. of BTS:
2G – 10,614
3G – 9,648
4G – 7,396
Network Coverage (by population and
technology):
2G – 97.0%
3G – 76.0%
4G – 79.0%
BANGLADESH
Robi Axiata
Limited
Year of Investment/Shareholding:
2016/80.0%
Nature of Business:
Mobile Telecom Operator
Customers:
16.3 million
Technology Deployed:
Mobile - GSM/EDGE, 3G/HSPA+
No. of BTS:
2G – 3,361
3G – 2,955
4G – 943
Network Coverage (by population and
technology):
2G – 92.5%
3G – 58.6%
4G – 15.6%
NEPAL
Ncell Private
Limited
Year of Investment/Shareholding:
2014/81.7%
Nature of Business:
Integrated Digital Advertising Agency
MALAYSIA
Axiata Digital
Advertising Sdn Bhd
MOBILE SUBSIDIARIES NON-MOBILE SUBSIDIARIES &
ASSOCIATES / AFFILIATES
Year of Investment/Shareholding:
2017/100.0%
Nature of Business:
Digital Financial Services Company
Providing e-wallet Services
Year of Investment/Shareholding:
2017/100.0%
Nature of Business:
Global API Solutions Provider
MALAYSIA
edotco Group
Sdn Bhd
Year of Investment/Shareholding:
2012/63.0%
Nature of Business:
Telecommunications Infrastructure and
Services
MALAYSIA
Apigate Sdn Bhd
MALAYSIA
Axiata Digital
eCode Sdn Bhd

Financial Calendar
Dividends
30 April 2019
29 May 2019
Notice of 27th
Annual General Meeting
and Issuance of
Integrated Annual Report
2018
27th Annual
General Meeting
Unaudited consolidated
results for the fourth
quarter ended
31 December 2018
22 May 2018 24 August 2018 23 November 2018 30 April 201922 February 2019
Unaudited consolidated
results for the third
quarter ended
30 September 2018
Issuance of audited
financial statements for
the financial year ended
31 December 2018
21 June 2018
Date of
Entitlement for
Final Tax Exempt
Dividend under
Single-Tier System
of 3.5 sen per
Ordinary Share
27 September 2018
Notice of Book
Closure for
Interim Tax
Exempt Dividend
under Single-
Tier System of
5 sen per
Ordinary Share
12 November 2018
Payment for
Interim Tax
Exempt Dividend
under Single-Tier
System of 5 sen
per Ordinary
Share
Unaudited consolidated
results for the first
quarter ended
31 March 2018
5 June 2018
Notice of Book
Closure for Final
Tax Exempt
Dividend under
Single-Tier System
of 3.5 sen per
Ordinary Share
Unaudited consolidated
results for the second
quarter and half-year
ended 30 June 2018
12 October 2018
Date of
Entitlement
for Interim Tax
Exempt Dividend
under Single-Tier
System of 5 sen
per Ordinary
Share
19 July 2018
Payment for
Final Tax Exempt
Dividend under
Single-Tier System
of 3.5 sen per
Ordinary Share

About This Report
Axiata’s 6 Capitals
Financial Human
Intellectual Social & Relationship
Manufactured Natural
Axiata’s 4P Goals
Performance Partnership
People Planet & Society
Reporting Philosophy
This is Axiata Group Berhad’s (“Axiata” or “the Group”) second
Integrated Annual Report (“IAR”), which has been 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.
Scope and Boundary
Axiata’s 2018 IAR extends beyond financial reporting and
includes non-financial performance, opportunities, risks and
outcomes attributed to or associated with our key stakeholders,
all of which have a significant influence on our ability to create
value.
The 2018 IAR covers the period from 1 January 2018 to
31 December 2018 and builds on our previous publications.
The report covers the primary activities of the Group, namely
our three core business pillars of Digital Telco, Digital Businesses
and Infrastructure.
Assurance
Our Annual Financial Statements (“AFS”) have been audited as
fully disclosed in the Statutory Annual Financial Report 2018.
Limited assurance has been provided on selected disclosure(s)
within our Sustainability and National Contribution Report
(“SNCR”) 2018. Both of those processes make up our 2018 IAR,
which contains both financial and non-financial indicators.
Approval by the Board
The Board of Directors (“Board”) has applied its collective mind
in preparing and presenting Axiata’s IAR 2018 as guided by the
IIRC’s International <IR> Framework. The Board acknowledges
its responsibility in ensuring the integrity of this report, through
good governance practices and internal reporting procedures.
Materiality
We have conducted our materiality assessment in line with Bursa
Malaysia Securities Berhad’s (“Bursa”) Listing Requirements.
We have sought our stakeholders’ input in addition to the
business’ perspectives. These include risks identified through our
risk management framework in determining the material issues
which impact our ability to create value over the short, medium
and long-term. Our strategic responses to these material issues
are presented throughout this report.
Forward-Looking Statements
This report contains forward-looking statements characterised
by the use of words and phrases such as “might”, “forecast”,
“anticipate”, “project”, “may”, “believe”, “predict”, “expect”,
“continue”, “will”, “estimate”, “target” and other similar
expressions. As our business operates in a perpetually shifting
and changing environment, it is subject to uncertainties that
could cause actual results to differ from those reflected in the
forward-looking statements.
Section 2018 Improvements
The Value We Create • Reporting three-year trends for indicators where data is available
• Providing an explanation on the trade-offs between capitals
Operating Environment • Comparison of external economic and market factors against Axiata’s strategic
response, implications on our strategy and the way forward for the Group
Risks and Materiality • Detailed descriptions of each risk, including risk matrix, risk level and movement,
mitigating actions, risk owners, impacts and key risk indicators
Eight Needle-Moving Strategic
Initiatives
• Using Axiata’s 4P Goals as the framework for our Triple Core Strategy disclosure of the
Group’s progress against the Eight Needle-Moving Strategic Initiatives
Information on Exclusions
Our disclosure appetite guides the limitations of information
available in this report. We seek to balance between positive
and negative information, and information withheld based on
competitive advantage. Requirements of the <IR> International
Framework have not been excluded due to the unavailability of
reliable information or specific legal prohibitions.
Improvements in Axiata’s IAR 2018
In 2018, the Group improved our disclosures through the following actions:

Reporting Suites Integrated Annual Report 2018 Governance & Annual Financial Statements 2018 Sustainability & National Contribution
Report 2018
Disclosure
• Management Discussion and Analysis
• Abridged Annual Financial Statements
• Corporate Governance Overview Statement
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
• Global Reporting Initiative Standards
• Third Party Assurance
Reporting Frameworks
• Malaysian Code on Corporate Governance 2017
• Bursa Listing Requirements
• IIRC Integrated Reporting Framework
• Companies Act 2016
• Malaysian Code on Corporate Governance
• Bursa Listing Requirements
• Companies Act 2016
• Bursa Malaysia Sustainability Reporting
Guidelines
• GRI Standards (Core)
• AA1000 Stakeholder Engagement
• ISAE 3000 (Revised) - Limited Assurance
Engagement
About This Report
Reporting Frameworks and Reporting Suites
Integrated Annual Report
2018
Governance & Audited
Financial Statements 2018
Sustainability & National
Contribution Report 2018
Axiata’s Integrated Annual Report 2018 suite is made up of the following:
Cover Rationale
By delivering on our vision of being a New Generation Digital Champion, we fast-forward progress in Asia for the
next generation, helping them achieve their true potential and build a better future.
Images for the Integrated Annual Report 2018
The images in this year’s Integrated Annual Report cover and section separators were inspired by the new Axiata
brand film titled Kites 2.0. Please visit https://bit.ly/2IAnyJV to watch the video.
All of Axiata’s Reports are available online at www.axiata.com
We welcome feedback on this report at [e-mail]
IAR GA
FS SN
CR

Ax iata Integ rated An n ua l Re p or t 2 018 | Contents
CONTENTS
OUR STRATEGY
The Axiata Group 02
Shareholding Structure and Portfolio of
Investments 03
What We Do 04
Core 1: Transforming from Pure-Play Mobile
Service Providers to Converged
Digital Telcos 05
Core 2: Advancing Our Three Core Digital
Businesses Towards Profitability 06
Core 3: Award-Winning Regional Tower
Company Poised for Global Growth 07
Long-Term Group Value Creation Model 31
Our Six Capitals 32
Delivering Long-Term Value as a
Regional and Global Player 33
Building a Modern, Agile and Digital
Asian Talent Factory 34
Becoming a Trusted and Reliable
Digital Partner 35
Supporting Governments and
Communities in Our Markets 36
Enabling Digitally-Connected Societies 37
Minimising Environmental Impact 38
Corporate Governance Overview 59
Corporate Governance Framework 61
Principle A: Board Leadership
and Effectiveness 62
Principle B: Effective Audit and Risk
Management 78
Principle C: Integrity in Corporate
Reporting and Meaningful
Relationship with Stakeholders 82
Group Directory 83
OUR BUSINESS THE VALUE WE CREATE OUR GOVERNANCE
STATEMENTS AND ANALYSIS OTHER INFORMATIONOUR PERFORMANCE
Our Long-Term Strategy Towards Digital
Market Leadership 21
Operating Environment 22
Stakeholder Engagement 23
Risks and Materiality 24
Eight Needle-Moving Strategic Initiatives 29
Chairman’s Statement 09
In Conversation with the President &
Group CEO 11
Management Discussion and Analysis 15
Notice of Annual General Meeting 85
Proxy Form
Financial Review 40
Consolidated Statement of
Comprehensive Income 44
Consolidated Statement of Cash Flows 44
Consolidated Statement of Financial
Position 45
2018 Overview of Operating Companies’
Performance 46
Operating Companies’ Review 48
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