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Sovereign Wealth Funds Briefing - Categorized | Performance

Axiata rallies to become Malaysia’s best performer

Posted on 02 March 2010

From Businessweek.com: Axiata Group Bhd., Malaysia’s second-biggest mobile phone operator, rose to a 17-month high after Citigroup Inc. said the company is its “preferred pick”. Kuala Lumpur-based Axiata, controlled by Khazanah Nasional Bhd., Malaysia’s state investment company, reported a 558.8 million ringgit ($165 million) profit for the fourth quarter ended Dec. 31.
Its mobile unit “dominated through 2009” with the highest mobile-phone revenue among Malaysia’s three major operators, Citi said in the report dated Feb. 26. Rivals Maxis Communications Bhd. and Digi.Com Bhd. lost revenue and subscriber market share last year, it said………………………………………Full Article: Source


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