KUALA LUMPUR (Aug 26): Axiata Group Bhd is planning to extend the tenure of some short-term debts, which are set to mature in two years, to maturities of three to 10 years. The move is part of its bid to ease a balance sheet that has been been “stretched” after the group increased its borrowings to acquire telecommunication towers in the Philippines and a broadband-cum-cable TV services provider in Indonesia. Celcom-DiGi merger 'progressing well'Vivek also updated that the merger between Celcom Axiata Bhd and DiGi.Com Bhd is “progressing well”, and that Axiata is submitting its draft circular for that deal to Bursa Malaysia for approval. “I don’t think the requirement of funding for equity in DNB is anything significant, compared to our overall balance sheet. Having said that, we have plans in place of how to de-leverage the balance sheet as well as how to improve the cash flow for us,” he added.

Source: The Edge Markets August 26, 2022 23:00 UTC