Axiata’s Q4 in the red on impairment loss in Indian investment

  • Business Premium
  • Thursday, 24 Feb 2011

KUALA LUMPUR: Telecommunications service provider Axiata Group Bhd posted a net loss of RM367mil for the fourth quarter (Q4) ended Dec 31, 2010, due to impairment loss on its investment in an India-based associate. This compared with a net profit of RM558mil for the corresponding period last year.

In its statement to Bursa Malaysia, Axiata said it incurred around RM1.1bil impairment on its investment in Idea Cellular Ltd.

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