Axiata says its digital businesses to be profitable by 2022

KUALA LUMPUR: Axiata Group’s digital businesses is on track to be profitable by 2022, the Malaysian mobile phone network operator said in a statement on Tuesday.

This is strengthened through strategic partnerships with long-term view to establish two unicorns in its digital financial services unit Boost Holdings and digital analytics and AI businesses, it says.

SoftBank Corp had recently invested RM250mil into Axiata Digital’s digital analytics and AI businesses.

Boost recently formed a strategic partnership with RHB Bank to jointly pursue a digital bank license in Malaysia.

Axiata’s infrastructure business is also geared toward expansion, both in-market and into new territories, it says.

Its unit edotco will accelerate toward becoming a much larger and efficient tower company.

Axiata is constantly evaluating options to raise fresh capital to enable the realisation of these goals. - Bloomberg

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights


Next In Business News

Bank Rakyat launches entrepreneur programme
CPO futures seen trading with upward bias next week
As scrutiny mounts, crypto exchange Binance to wind down derivatives in Europe
Oil price climbs, notches fourth monthly gain on growing demand
Chevron tops profit estimates, joins share buyback stampede
Indian billionaire's new airline may give Boeing a chance to regain lost ground
Global Markets: US stocks slip, US# has worst week in almost two months
Post-pandemic comeback of Malaysian REITs
Selective opportunities in equities
Rocky road to recovery

Stories You'll Enjoy