Axiata says it’s well positioned to cope with Covid-19 challenges

PETALING JAYA: To position itself for emerging “new normal” opportunities, Axiata Group Bhd will execute measures driven by the conviction that as the digital economy accelerates, there will be significant demand for digitisation, and e-commerce and digital payments.

The need for innovation in digital security, e-health, e-learning, remote working, deurbanisation and food security will see an uptrend alongside consumption of online content, media and entertainment.

Axiata president and group CEO Tan Sri Jamaludin Ibrahim said that in this unprecedented time, the group has shifted its immediate focus to put employees, customers and communities at the front and centre of all its markets.

“Like many industries worldwide, we have been negatively impacted and expect implications in the short to mid-term due to extraordinary Covid-19 challenges and other national requirements. But as an industry, we are relatively more fortunate than others.

“In the longer term, we believe we will stand to be one of the biggest gainers in terms of how telcos can serve customers in the post-Covid-19 world. Telcos will not only be the data connectivity platform as a required basic utility but also provide many services and solutions to businesses and customers in an increasingly digital environment,” he said in a statement.

In future-proofing and activating its next growth trajectory across its triple core businesses of digital telco, digital businesses and infrastructure, the group will be guided by its Axiata 5.0 Roadmap which sets out “10 value creation drivers” to firm up near-term financial performance, ensure long-term sustainable growth, and address structural changes via industry consolidation and portfolio optimisation.

Axiata concluded its AGM virtually yesterday with shareholders expressing strong support for the group’s efforts to shore up its defences in battling short to mid-term Covid-19 challenges, as the group continues its pursuit to become a new generation digital champion by 2022.

All other resolutions tabled at the AGM were passed.

Shareholders re-elected Thayaparan S Sangarapillai who was appointed to the board on March 18, 2020 as a replacement for Datuk Izzaddin Idris, who has been redesignated as executive director after his appointment as deputy group CEO and group CEO-designate on Jan 24, 2020.

Axiata chairman Tan Sri Ghazzali Sheikh Abdul Khalid said this will be an important year on two fronts. First, the board continues to be committed to ensuring a smooth succession at the top, as Jamaludin retires at the end of this year and Izzaddin takes over the helm.

“In light of the overall successful year of value creation across the group, the board approved a total dividend of 9.5 sen per share. This includes an interim dividend of 5 sen per share, and a special dividend of 0.5 sen to share gain from disposal of the M1 investment.”

source https://www.thesundaily.my/business/axiata-says-it-s-well-positioned-to-cope-with-covid-19-challenges-EY3212053