Stock Name: AXIATA
Company Name: AXIATA GROUP BERHAD
Company Name: AXIATA GROUP BERHAD
| Research House: ECMLIBRA | Price Call: HOLD | Target Price: 5.19 |
Axiata Group Bhd (AXIATA MK, Hold, TP: RM5.19) sees its associate investments in India and Singapore as strategic holdings and has "no imminent plans to change the status quo", its group CFP James Maclaurin said. Axiata owns 29.2% of Singapore's third mobile operator M1 Ltd and 19.1% of Idea Cellular Ltd. "Obviously and in general, like most operators, Axiata would like to have a controlling stake in all our operations. However, there are exceptions. This is especially so in cases where we realise strategic benefits without management control," Maclaurin said. Nonetheless, Maclaurin reiterated that Axiata has a long term view on both India and Singapore which represent important and strategic stakes", stressing that the group is confident of its partners in the 2 countries. (Financial Daily)
Source: ECM Newz Bits 15 March 2012
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