Axiata

Malaysian telecommunications firm Axiata Group Berhad and Indonesian conglomerate Sinar Mas said shareholders of PT XL Axiata Tbk, PT Smartfren Telecom Tbk, and PT Smart Telcom have formally approved the merger of the three companies into XLSMART.

The deal is still pending regulatory approval, and Axiata is not able to disclose the name of the new investor, group chief executive officer and managing director Vivek Sood said.

Malaysian telecommunication firm Axiata Group Berhad has inked deals with Indonesian conglomerate Sinar Mas to advance strategic collaboration in digital solutions in the Malaysian and Indonesia.

Following the investment, Mitsui’s stake in ADS will increase from 3.29 percent to 20 percent, resulting in an effective 12.69 percent stake in ADA.

Malaysia-based telco Axiata Group Bhd plans to launch its digital bank by end-2023 and targets to make it profitable over the next three to four years

Boost Holdings is said to be working with a financial adviser on the potential fundraising, which may give the start-up a valuation of $700 million.

TechNode Global talked to Boost Chief Executive Officer Sheyantha Abeykoon to learn about the company’s plan and strategy as it prepares to launch one of the digital banks in the country.

Carsome plans to introduce auto-financing for graduates in Indonesia and Thailand, as it targets a loan size of at least MYR 100M ($24.17M) for its auto-financing business in 2022.

Malaysia’s tech ecosystem is finally coming of age, and this is the moment to unlock Malaysia’s Underrated, Untapped and Unknown Unicorns-in-making. 

In an interview, Boost CEO Sheyantha Abeykoon told TechNode Global the competitive edge Axiata-RHB consortium have against other contenders and how will it position the digital bank should the consortium were granted a digital banking license.