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    AXIATA   MYL6888OO001

AXIATA GROUP BERHAD

(AXIATA)
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End-of-day quote BURSA MALAYSIA  -  2022-06-26
2.740 MYR    0.00%
06/23Axiata Buys Majority stake in Indonesia’s Link Net for $590 Million
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Sea Ltd, Axiata unit among winners of Malaysia's digital bank licenses

04/29/2022 | 04:54am EDT
A man walks past the entrance of Central Bank of Malaysia (Bank Negara Malaysia) in Kuala Lumpur

KUALA LUMPUR, April 29 (Reuters) - Malaysia on Friday awarded digital bank licences to five groups of companies, including some linked to e-commerce and gaming firm Sea Ltd , telecoms operator Axiata and ride-hailing firm Grab.

The central bank said in a statement it had received 29 applications for the licenses, as companies looked to capitalise on Malaysia's growing fintech sector.

Nearly all adults among the country's 32 million population are smartphone users, government statistics showed last year.

Winning applicants for the licenses included Boost Holdings, the fintech arm of Axiata, which teamed up with Malaysian banking group RHB Bank Berhad for the bid, Bank Negara Malaysia (BNM) said.

Others included a partnership between Sea Ltd and YTL Digital Capital Sdn Bhd, and a group led by GXS Bank, an alliance between Grab Holdings Ltd and Singapore Telecommunications, and Kuok Brothers, part of Malaysian tycoon Robert Kuok's Kuok Group.

Grab and Singtel said in a statement GXS will hold a 55.45% stake in the proposed Malaysia digital bank, subject to regulatory approvals.

Two consortia - led by Aeon Financial Service Co. Ltd and KAF Investment Bank - will be licensed under Malaysia's Islamic Financial Services Act, BNM said.

It said the winners must undergo a period of operational readiness that will be audited by the central bank before they can commence operations - a process expected to take between 12-24 months. (Reporting by Rozanna Latiff; Editing by Kanupriya Kapoor, Martin Petty)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AEON CREDIT SERVICE (M) BERHAD 1.81% 13.5 End-of-day quote.-0.88%
AEON FINANCIAL SERVICE CO., LTD. 5.69% 1318 Delayed Quote.0.81%
AXIATA GROUP BERHAD 0.00% 2.74 End-of-day quote.-34.13%
GRAB HOLDINGS LIMITED -6.92% 2.69 Delayed Quote.-59.47%
RHB BANK BERHAD 0.88% 5.71 End-of-day quote.6.33%
SEA LIMITED -6.74% 75.05 Delayed Quote.-64.03%
SINGAPORE TELECOMMUNICATIONS LIMITED -0.77% 2.57 Delayed Quote.11.21%
All news about AXIATA GROUP BERHAD
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Financials
Sales 2022 26 537 M 6 024 M 6 024 M
Net income 2022 1 157 M 263 M 263 M
Net Debt 2022 17 740 M 4 027 M 4 027 M
P/E ratio 2022 20,4x
Yield 2022 3,73%
Capitalization 25 144 M 5 708 M 5 708 M
EV / Sales 2022 1,62x
EV / Sales 2023 1,52x
Nbr of Employees 12 976
Free-Float 64,4%
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Number of Analysts 18
Last Close Price 2,74 MYR
Average target price 4,11 MYR
Spread / Average Target 50,1%
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Managers and Directors
Vivek Sood Group Chief Financial Officer
Shahril Ridza bin Ridzuan Non-Executive Chairman
Nirmal Anthony Rodrigo Group Chief Information Officer
Thomas Hundt Chief Technology & Strategy Officer
Abid Abdul Adam Group Chief Risk & Compliance Officer
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