Axiata announces Capex fund for 2011

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Telecom giant Axiata Group Bhd has announced that it has allotted RM3.2 billion for capital expenditures this year.  The amount is about the same as last year’s.  The chairman said that despite the hit the company took due to the strengthening of the ringgit against the dollar, first quarter revenue for 2011 is up about 3.3%, though pre-tax profits dipped slightly.

The Capex fund will be used primarily to shore up network capabilities and expand coverage through its subsidiaries Celcom Axiata Bhd and PT XL Axiata TBK.  Both need to upgrade their networds, and XL will also focus on expanding coverage for customers.  About 56% of Axiata’s business derives from outside Malaysia.

 

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Telecom giant Axiata Group Bhd has announced that it has allotted RM3.2 billion for capital expenditures this year.  The amount is about the same as last year’s.  The chairman said that despite the hit the company took due to the strengthening of the ringgit against the dollar, first quarter revenue for 2011 is up about 3.3%, though pre-tax profits dipped slightly. The Capex fund will be used primarily to shore up network capabilities and expand coverage through its subsidiaries Celcom Axiata Bhd and PT XL Axiata TBK.  Both need to upgrade their networds, and XL will also focus on expanding...

Reading Time: 1 minute

Telecom giant Axiata Group Bhd has announced that it has allotted RM3.2 billion for capital expenditures this year.  The amount is about the same as last year’s.  The chairman said that despite the hit the company took due to the strengthening of the ringgit against the dollar, first quarter revenue for 2011 is up about 3.3%, though pre-tax profits dipped slightly.

The Capex fund will be used primarily to shore up network capabilities and expand coverage through its subsidiaries Celcom Axiata Bhd and PT XL Axiata TBK.  Both need to upgrade their networds, and XL will also focus on expanding coverage for customers.  About 56% of Axiata’s business derives from outside Malaysia.

 

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