Axiata to fund future operations with more debts

Is this a smart move?

Malaysia’s Axiata unit to rely more on debt to fund growth

  • edotco could raise gross debt to 3.5% of ebidta from below 2.5% now, CEO says

KUALA LUMPUR (Nikkei Markets) — edotco Group, the telecommunication infrastructure unit of Malaysia’s Axiata Group, may rely more on debt to fund future expansion and finance acquisitions instead of raising fresh capital, its chief executive said Monday.

The most likely approach would be raising funds through syndicated loans and project financing, Suresh Sidhu told Nikkei Markets. The company could raise gross debt as a percentage of earnings before interest, tax, depreciation and amortization to 3.5 times from the current level which hovers below 2.5 times, he said.

“The plan is now to look at debt more holistically and increase our leverage closer to tower company benchmark,” Sidhu said. “Of course, we still have to work within Axiata’s debt covenant and profile.”

Axiata had initially considered an initial public offering of edotco by 2018 to unlock the value of its tower and infrastructure assets. edotco currently owns and manages more than 25,000 telecommunications towers across Malaysia, Bangladesh, Cambodia, Myanmar, Pakistan, and Sri Lanka.

edotco has been expanding its footprint through acquisitions since 2015. It recently announced purchase of 13,000 towers in Pakistan in a deal worth $940 million. On its part, edotco plans to fund the deal via $600 million debt and pump in $174 million as equity.

There is still unutilised cash from the company’s previous round of fund raising exercises, which is sufficient for small- to medium-sized acquisitions, Sidhu said. edotco has sufficient capital to tide over the next 24 months but may have to review its options if any larger acquisition comes along, he added.

The company remains open to prospects of more acquisitions and seeks to expand further, mostly in emerging and frontier Southeast Asian and South Asian countries, Sidhu said. “We’re patient, (the) deal has to be right (and) customers have to be right.”

Edotco, which was founded in 2012, has secured three new shareholders through a $700 million maiden equity private placement. Axiata remains the largest shareholder in edotco Group with a 62.4% stake following the entry of Innovation Network Corporation of Japan, Retirement Fund Inc and Malaysia’s state investment arm Khazanah Nasional. Axiata had said earlier that it wishes to retain a controlling stake in edotco Group.

Shares of Axiata ended 0.8% lower at 5.05 ringgit apiece, while the benchmark FTSE Bursa KLCI closed 0.2% down.


Will the real GLC please stand up

Hello everyone…its been a while since we wrote to this blog.

Since the last article, the nation has just celebrated our 60th independence day as well as our own Malaysia day. Looking back at all the struggles we have gone through, it is a proud moment for all Malaysians to come this far and see how we have moved on from the shackles of the British empire to becoming a develop nation. Lets be proud of that, at least looking back at what is happening to our country situation as we speak right now.

Looking around the country, it sure looks like not everyone has moved on with the nation…some still looks like they are still stuck in the time era where we still bow to the colonial powers that used to rule the country…wondering who?? Come on folks…. Who else but Axiata Group Berhad and their local operating company, Celcom Axiata Berhad.

You must be wondering why …well what’s new.

To begin with, just look at their senior leadership team. I mean are they all Malaysians run by Malaysians or hmmmm? This seems to be one of the few GLC, apart from MAS, which believes that they still need to rely on foreigners to run Khazanah owned company.

Just for everyone’s benefit, Axiata has 5 foreigners holding very strategic positions. From their Group Chief Financial Officer, Group Chief Strategy Officer, Group Chief Technology Officer.. just to name a few. Google them folks….

Celcom is even worse. Out of the so called M8 (previously M7), only 3 are true Malaysian.. The other four are Germans, Indian and New Zealander. The deputy CEO is a nasi campur/chap fan but behaves like a mat salleh as he is not bothered to respect the laws of the Islamic religion. Just  check out our coverage on him in the previous article where he is drinking alcohol openly! Apparently he doesn’t treat the staff well, he screams, lambast them in email, acts smartly and maneuver things in his schedule just because he is afraid of his own wife/shadow…..hang on!!!! Did I said wife……..?

60 years have gone by since independence but Axiata and Celcom seem to be behind time.. Is this Tan Sri Jamal’s doing where he is known to be a person who loves mat sallehs compared to Malaysians?

Come on Jamal.. You looked composed in all your antics but are you a real gentleman or a man who hides behind….. Anyway since he removed Dato Sri Shazalli Ramly, a highly dynamic and successful CEO who drove Celcom to 11 years of consecutive growth with a retired 64 year old German , Michael Kuehner. I’m not saying Shazalli is a great guy but the transit has gone worst off with this German chap who is dragging the company down the gutter. We have been told that moral of the employees are at an all time low and there is a general hatred towards the German CEO. Worse still, the German seems to be on a path to retrench the Malaysians who are working for Celcom!!!

Why do we still do this despite 60 years of independence?? Have the nation not developed enough talented Malaysians to take on these key roles?? Or is it because Tan Sri Jamal just loves these mat salleh kissing his behind?? Does the Khazanah folks really know what’s happening? I mean with Jamal helming such a huge organisations run by this mat sallehs, then what’s the point it is run by Khazanah in first place?

Sell it to Maxis or Digi or whoever out there cause even Digi is run by Malaysians. Their senior management are mostly Malaysians as well. Why is that we have foreigners running the show? Why would these foreigners be interested in growing these companies? They are not Malaysians, all they would care about is their fat salaries. Living a luxurious life etc etc. The long term future of these companies is not their concern!! Hit and run once they get their money! I don’t know… anybody care to comment?

I know there would be certain quarters that are not happy about this write up but rightfully to begin with is this right? Secondly is the morale of the staff high? We went to blue cube in pavilion the other day, oh my gosh the que was long and the staff was generally down with no  concern or empathy on their display of interest to help the customers. Thus I presume there was a long que outside. We feel remorse and pity with the staff.

The government has to take action as this is a GLC, owned by Khazanah!! This is truly embarrassing to the nation and its people, Malaysians in particular.

Hopefully, the real GLC will finally stand up!!

With the recent case of several dignity and kids who were perished in the fire, Malaysia would like to wish every individual of them Your Majesty King, and to the beautiful kids out there our condolences to each and everyone of you. God bless

Selamat Hari Merdeka dan Selamat Hari Malaysia!!

Hacking in Celcom – customers’ information in danger

Hello semua! To all muslim brothers and sisters, selamat berpuasa!

It’s been a while since we wrote in this blog. A lot of things have happened at our favorite Telco during that time and we thought we keep all our loyal followers informed of the developments. Which favorite Telco?? Celcom lah!!

Ada banyak updates yang kita dapat setakat ni, but this week we shall only talk about one first. Below is one of the updates we got from the people who are working there..

Apparently ever since Celcom Chairman, TS Jamaluddin appointed his favorite retired German, Michael Kuehner to replace DS Shazali as the CEO of Celcom, things have just gotten worse day by day. As all agreed, the current CEO of Celcom is a very egoistic and pretentious human being, and is slowly running down the company to the ground. “Keep it simple”, transparency etc. are his buzz words. But that’s all they are. Buzz words!! A man lacking in sincerity to his employees is now taking the next steps – cheat and lie to the Celcom’s customers.

You must be wondering what we are talking about.. right? Well sebenarnya, about a month or so ago, Celcom’s customer database became a victim of a cyber attack. The entire database was hacked by multiple parties and millions of customer data was stolen!! Name, address, IC number, credit card number and many other information are now in the hands of someone who can use it to steal anything they want using these information. Gila kan?

Chairman Celcom Tan Sri Jamaluddin

But what does Kuehner and Tan Sri Jamaluddin do when this was discovered? They lied and hid the truth from the millions of Celcom subscribers… who are now in jeopardy. This was a conscious decision by both of them in the hope that no one discovers the truth!! What kind of leaders are these guys??? They all willing to put millions of their subscribers at risk just to protect their asses.

The responsible thing to do would have been to inform the subscribers immediately so that the people can take preventive actions to protect themselves. Where is the transparency that both these 2 guys talk about to their employees? Kalau tak boleh jadi honest, macamana employees nak look up to them? Is this the mat salleh philosophy where they think Malaysians are stupid? Why does Jamaluddin surround himself with these useless mat sallehs, pay them millions, so that they can just carry his bag and whisper everyday that he is a great man? Is his ego so big that he is even willing to ignore the security and safety of his customers?? Why is Khazanah who has responsibility to the Malaysian people allowing this happen? Shocking!!

With these behaviors, no wonder Azri Yahaya, the womanizing CIO, is still walking around proudly. Birds of a kind will always flock together.

Celcom is retaining more deadbeats than profits

This blog has been bombarded by a lot of comments from dissatisfied Celcom staff. Previously it was the letter that criticised Celcom’s decision to hire a foreigner to become its first ever non-Malaysian CEO, then came all sorts of criticisms against their top management (dubbed ‘the M7’), now one by one the comments are getting more frequent. ‘Something is rotten in the state of Denmark’, somebody had said that.

We suspect the rot is getting bigger.

Below is the comment from one of the readers wished to be known as ‘Inside Job’:

Kita baru je sambut Hari Wanita Antarabangsa dengan meraikan jasa ibu-ibu, isteri, adik-beradik dan rakan-rakan wanita di seluruh dunia. Macam-macam persidangan di hotel-hotel dah dibuat untuk menghargai wanita dari semua lapisan masyarakat. Pencapaian wanita memangnya penting dan wajib diraikan. Malah, sesetengah syarikat telah adakan mesyuarat khas dan sesi dialog untuk meraikan hari istimewa ini.

Salah satu dari syarikat-syarikat ini ialah Celcom, di mana mesyuarat townhall mereka telah memainkan video khas untuk meraikan kejayaan wanita dari seluruh dunia – Cayalah Celcom !!

Mula-mula kita fikir yang Celcom dah mula lakukan sesuatu yang betul. Tetapi perasaan ni cuma wujud secara singkat saja apabila kita dapati satu berita yang mengejutkan – salah seorang pemimpin kanan mereka, Azri Yahaya, telah dilanjutkan kontraknya! Berita ini datang sebagai satu kejutan kepada kita semua kerana industri telekomunikasi telah lama hangat bercakap pasal orang ni, terutamanya pasal sifatnya yang mata keranjang dan suka mempermainkan wanita.

Orang-orang yang terlibat dalam industri IT memang sudah masak dengan perangainya, sesetengah daripada mereka adalah vendor-vendor Celcom. Mereka semua telah berdoa supaya kontrak Azri Yahaya tak disambung semula. Kenapa boleh jadi macam ni??

Ini kerana Azri adalah seorang lelaki yang unik dan special hehehe. Kebanyakkan waktu, dia tunjuk imej alim pada orang ramai, tetapi apa yang tak diketahui oleh ramai orang ialah, Azri ni sentiasa mencari mangsa dan menekan pekerja wanita (terutamanya sales rep vendor) supaya tunduk pada permintaannya… jika tak, dia akan pastikan kehidupan mereka menjadi sengsara dan mereka tak akan dapat mencapai angka jualan mereka.

Bagi para wanita yang rela dalam terpaksa (paksa-rela), dia akan beri mereka kontrak jualan yang bertimbun. Tanyalah orang-orang di Oracle! Dia tak berhenti di situ je. Dia jugak pernah menjalinkan hubungan dengan isteri orang di dalam Celcom, betul-betul di bawah batang hidung M7!!

M7 ni memang clueless, hidup dalam kepompong mereka sendiri. Mereka tak sedar bahawa seluruh industri IT sedang bercakap tentang Azri Yahaya! Berdasarkan apa yang kita dah diberitahu oleh kakitangan IT Celcom dan juga beberapa vendor, semua sales rep wanita telah meminta untuk tak diberi tugasan menjaga Celcom, kerana takut dengan perangai buaya darat dan ancaman Azri.

Taktiknya mengayat wanita selalunya berkisar tentang betapa sukarnya dia menjalani hubungan jarak jauh dengan isterinya dan bagaimana dia kesepian dan perlukan teman untuk mengisi kesepiannya. Lama-lama, kata-kata ini bertukar jadi intimidasi jika wanita-wanita ini tidak mengikut kemahuannya, dan urusniaga jualan mereka akan ditolak.

Setelah menyiasat dengan lebih lanjut, rupa-rupanya Azri pernah ada sejarah yang sama di dalam syarikat-syarikat yang dia pernah bekerja sebelum Celcom seperti Maxis, IBM dan CSC. Tapi ini semua tak direkodkan kerana mangsa-mangsanya takut mendapat susah atau ancaman yang lagi hebat dari Azri.

Adakah ketua-ketua dalam M7 tahu cara-cara menguruskan Celcom? Orang yang melanjutkan kontrak si Azri ni namanya Ramanathan dan dia adalah salah seorang dari M7. Adakah dia telah melakukan pemeriksaan latarbelakang yang mendalam sebelum mengambil casanova bersiri seperti Azri? Atau adakah dia tahu tetapi sengaja mengabaikan fakta?

Bangunlah M7!!

Nevertheless, what is the solution for Celcom? We do not want to see Celcom becoming a ‘telco gila’ anytime soon. Their customer base is shrinking, profits are declining, competitors have bypassed them. The Board should be strong enough to purge the deadbeats and the deadwoods within its organisation.

Telcos imposing hidden charges on consumers to face action

Hurray! Now there is a respite to customers who feel they have been swindled by the telcos. For the contact details, people can contact MCMC here:


Malaysia Communications & Multimedia Commission (MCMC)
MCMC Tower 1, Jalan Impact, Cyber 6, 63000 Cyberjaya Selangor Darul Ehsan, Malaysia

  • Complaint Hotline : 1800 – 188 – 030
  • Facsimile : 03 – 8688 1880
  • SMS :  SKMM ADUAN [Complaint Details] SMS to 15888
  • Whatsapp: 016 – 2206 262
  • Email:
  • Website:

Telcos imposing hidden charges on consumers to face action

HULU TERENGGANU: The Malaysian Communications and Multimedia Commission (MCMC) will take action against any telecommunications company (telco) that imposes hidden charges for their services to consumers.

Deputy Communications and Multimedia Minister Jailani Johari said any consumer whose complaints to a telco go unanswered could report the matter to the MCMC.

“The MCMC has set up a special Consumer Complaints Bureau to handle this matter and if it is not resolved, the commission will take action against the relevant telco.

“But in this matter, the telco should review existing contracts…sometimes the print in the contracts is too small,” he said, adding that this resulted in many consumers not being bothered to read the terms and conditions but signing the contract anyway believing there was nothing important they should know.


Major shake up is imminent in Telekom Malaysia?

Received from the comment section a few days ago:

There will be a potential big movement in the telecoms market for the next few weeks. Major shake up is imminent. Telekom CEO is nearing the end of his contract and the jostling among the wannabes is getting frantic. The government is keen on bringing DS Shazalli to head TM, but there are a few smart alecks who are close friends to the Minister trying to outmaneuver and hijack the appointment. There are also people who are trying to position themselves to fill the many potential top management vacancies in TM when their own position are shaky and untenable. All are waiting for the right moment.

  1. One such fella is Razali Ismail from Celcom. He served as employee since 2007 and was the Head of Fraud & Facilities Service. In Celcom he is known as DS Shazalli’s pet, and known to be doing all the wrong things under the guise of having the protection by the latter.

  2. Also well known to be shouting at his staff and generally everyone else who tries to deter his ‘movement’, ie. trying to stop him from pursuing his pet projects. He also made a lot of fortune from the current Menara Celcom which is being constructed in PJ as we speak. So much so, there are a lot of design need to be ‘adjusted’ by the current management.

  3. He was investigated since last October 2016 for his wrong conduct. Axiata auditors even made a reference for his ‘tingkah laku’.

  4. He sought amnesty and pity from DS Shazalli for his wrong doings. Worse is, he has been spreading rumours that he is being protected by Shazalli on so many occasions, even to the point of commenting on the latter’s personal matters.

  5. It is sad that Shazalli had wrongly put his trust on this person.  Subsequently, even the new management of Celcom had terminated him due to his recent misconduct.

  6. As the result, Razali Ismail is now spreading rumours that he will be joining TM just because DS Shazalli has been nominated to the post of its CEO.

  7. Razali is known for his antics, on the outside he looks like a shy person but in reality he is A BULLY.

  8. Dear DS Shazalli, please don’t take or choose this type of candidate who can spoil your own reputation. There are many ‘Razalis’ out there gunning for your ‘dirty linen’ but choosing this Razali to be in your new turf will not going to help you in any bit.

  9. This Razali should have been reprimanded long time ago since his power trip days. It is hoped that DS Shazalli can see his true colours otherwise he will be sleeping with the devil.


Is this true about TM CEO will not be extended and Shazalli will be installed as the next TM head? Judging from his performance in Celcom for the past two decades, this could be a master stroke in terms of alleviating TM to the next level. As for this Razali Ismail person, well rotten apples should just stay rotten and tucked away for good.

Looks decent but looks might be deceiving