Axiata

What Axiata does

Axiata Group Berhad is a publicly listed Malaysian telecommunications and digital conglomerate founded in 1992 and headquartered in Kuala Lumpur, operating across five Southeast and South Asian markets (Malaysia, Indonesia, Sri Lanka, Bangladesh, Cambodia) through a portfolio of mobile, fixed and converged connectivity brands serving more than 175 million subscribers. The group is organized under a Triple Core Business structure comprising Digital Telcos (CelcomDigi in Malaysia; XLSmart in Indonesia, formed via the March 2025 merger of XL Axiata and Smartfren with 94.3 million projected subscribers; Dialog in Sri Lanka; Robi in Bangladesh; Smart in Cambodia), Infrastructure (edotco for tower/network services; PT Link Net for broadband/cable), and Digital Businesses (Boost for fintech and digital banking; bKash mobile money with 70 million Bangladesh users; ADA for data and AI services; Axiata Digital Labs for technology services). Axiata also operates the IAX submarine cable system connecting India to Singapore (launched May 2025) and the HELIOS AI-powered cybersecurity platform (patent granted February 2026) developed at the Axiata Cyber Fusion Center, which serves approximately 20 external clients across four countries.

Revenue is generated primarily through subscription-based mobile, fixed and converged connectivity services (monthly billing with usage-based add-ons), supplemented by infrastructure managed services (edotco), transaction-fee digital financial services (bKash, Boost Bank), and professional services in data/AI (ADA, Axiata Digital Labs). Go-to-market mixes direct enterprise sales for B2B connectivity and infrastructure, retail and dealer networks for consumer mobile across each operating market, agent networks for mobile money, and digital banking via the Boost Bank joint venture with RHB Bank. For FY2025, Axiata reported revenue of RM11.8 billion (down 6.2% year-on-year) and net profit of RM364.6 million (down 61.5%), with net debt of RM15.1 billion and net debt/EBITDA of 2.46x (improved from 2.74x). Recent strategic activity includes the XLSmart merger, the launch of the AI-Native Telco Accelerator consortium, the HELIOS patent grant, and CEO succession from Vivek Sood to Nik Rizal Kamil effective 1 June 2026.

Name

Axiata

Legal name

Axiata Group Berhad

Website

https://axiata.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Axiata Group Berhad is a Malaysian-listed telecommunications and digital conglomerate operating mobile, fixed and converged connectivity, infrastructure, fintech and AI/cybersecurity services across Malaysia, Indonesia, Sri Lanka, Bangladesh and Cambodia, serving more than 175 million subscribers through operating brands including CelcomDigi, XLSmart, Dialog, Robi, Smart, edotco, Boost, bKash and ADA.

Ownership category

akta.pro rank

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Telecommunications Services: Mobile, fixed and converged connectivity services across multiple markets including Malaysia, Indonesia, Sri Lanka, Bangladesh, and Cambodia through operating companies CelcomDigi, XL Smart, Dialog, Robi, and Smart
2. Infrastructure Services: End-to-end integrated telecommunications infrastructure solutions through edotco and LinkNet
3. Digital Financial Services: Digital financial services including mobile money (bKash with 70M users in Bangladesh), digital banking (Boost Bank joint venture with RHB), and lending services for micro-SMEs
4. Data and AI Services: Digital and data transformation services through ADA and Axiata Digital Labs

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels9 records

Core offering

Axiata operates a Triple Core Business of Digital Telcos (mobile, fixed and converged connectivity for Consumer, Home and Enterprise segments via CelcomDigi, XLSmart, Dialog, Robi and Smart Axiata), Infrastructure (end-to-end telecom infrastructure solutions through edotco and LinkNet), and Digital Businesses (digital financial services via Boost and bKash, and data/AI transformation services via ADA and Axiata Digital Labs). The group serves more than 175 million subscribers across Southeast and South Asia.

Product overview

Axiata Group Berhad is a telecommunications and digital conglomerate operating across Southeast and South Asia through three core business segments: Digital Telcos (mobile, fixed and converged connectivity via CelcomDigi, XLSmart, Dialog Axiata, Robi, Smart Axiata), Infrastructure (tower and network services via edotco and Linknet), and Digital Businesses (fintech via Boost including bKash and Boost Bank; data/AI via Ada and Axiata Digital Labs). The group also operates the AI-powered HELIOS cybersecurity platform and the IAX submarine cable system through Dialog Axiata. With over 175 million subscribers across the region, Axiata is transitioning from traditional telco to converged connectivity group under the Axiata28 vision.

Differentiator

Problem solved

Functional benefit

Brands

• CelcomDigi: Malaysia's largest telecommunications company providing mobile, fixed and converged connectivity solutions
• XLSmart
• Dialog
• Robi
• Smart
• edotco
• Boost
• Ada

Products and services

• CelcomDigi Malaysian telecommunications operator providing mobile, fixed and converged connectivity solutions for Consumer, Home and Enterprise segments.
• XLSmart Indonesian telecommunications entity formed from the merger of XL Axiata and Smartfren, serving over 94.3 million subscribers with annual revenue of 45.8 trillion rupiah (US$2.76 billion).
• Dialog Axiata Sri Lankan telecommunications operator providing mobile, fixed and converged connectivity solutions. Launched IAX submarine cable connecting India to Singapore.
• Robi Axiata Bangladeshi telecommunications operator offering mobile and digital services.
• Smart Axiata Cambodian telecommunications operator offering mobile and 5G services; secured $50 million financing from Maybank Cambodia for digital and telecommunications infrastructure development.
• edotco End-to-end integrated telecommunications infrastructure solutions and services provider operating across multiple Asian markets, offering tower and network services to telecom operators.
• PT Link Net Indonesian broadband and cable TV provider with approximately 859,000 subscribers as of March 2021.
• Boost Holdings Malaysian fintech platform offering digital financial services including e-wallet, lending, and digital banking through the Boost Bank JV with RHB Bank. Targets micro-SMEs with nearly the entire loan portfolio deployed to small enterprises.
• ADA Data and AI company offering digital and data transformation services across Asia.
• Axiata Digital Labs (ADL) Technology arm providing digital services and innovation, including Telco-as-a-Service implementations alongside Singtel and Deutsche Telekom.
• HELIOS AI-powered cybersecurity platform developed by Axiata Cyber Fusion Center, serving approximately 20 external clients across four countries, representing Axiata's transition of cybersecurity from a cost center to a revenue stream.
• bKash Bangladeshi mobile financial services platform serving 70 million users, part of Axiata's digital financial services portfolio.
• IAX Submarine Cable System Submarine cable system connecting Mumbai and Chennai in India to Singapore, with branches in Sri Lanka, Thailand, and Malaysia; includes 12 landing stations across five nations.

Quantifiable outcome

• 42% reduction in Scope 1&2 GHG emissions (vs 2022 baseline)
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature3 records

Partnerships

13 partnerships are on record, tiered flagship and core.

• TelecomTVflagshipStrategic or Co-development Partner · 22 June 2026TelecomTV leads AI-Native Telco Accelerator (ANTA) initiative backed by Axiata, Deutsche Telekom, Orange, NTT Docomo, Rakuten Mobile, GSMA, Wind River and Totogi. The program includes AI-Native Telco Index benchmarking 50 operators against 20 markers of AI-native transformation.
• GSMAflagshipStrategic or Co-development Partner · 22 June 2026GSMA is a founding partner of the AI-Native Telco Accelerator (ANTA) initiative, providing industry body support for AI-native transformation benchmarking across 50 operators.
• Deutsche TelekomflagshipStrategic or Co-development Partner · 22 June 2026Deutsche Telekom is a founding partner of the AI-Native Telco Accelerator (ANTA) initiative alongside Axiata and other major global operators.
• OrangeflagshipStrategic or Co-development Partner · 22 June 2026Orange is a founding partner of the AI-Native Telco Accelerator (ANTA) initiative alongside Axiata and other major global operators.
• NTT DocomoflagshipStrategic or Co-development Partner · 22 June 2026NTT Docomo is a founding partner of the AI-Native Telco Accelerator (ANTA) initiative alongside Axiata and other major global operators.
• Rakuten MobileflagshipStrategic or Co-development Partner · 22 June 2026Rakuten Mobile is a founding partner of the AI-Native Telco Accelerator (ANTA) initiative alongside Axiata and other major global operators.
• Aira TechnologiescoreTechnology or Integration · 18 June 2026Aira Technologies leads TM Forum Moonshot Catalyst project 'Conflict Management in Intent-Based Networks – Phase II' alongside Axiata as operator champion. The project addresses conflicts between multiple autonomous network entities and will be presented at DTW Ignite 2026 in Copenhagen.
• RHB BankcoreStrategic or Co-development PartnerRHB Bank and Boost Holdings jointly own Boost Bank, a digital bank joint venture in Malaysia. Boost Bank targets profitability by 2028 with RM310 million loan book and RM600 million deposits as of early 2026.
• Sinar MasflagshipStrategic or Co-development PartnerSinar Mas is co-investor in XLSmart entity (post XL Axiata-Smartfren merger), with both Axiata Group and Sinar Mas each holding 34.8% stake. Rajeev Sethi appointed as President Director and CEO of XLSmart.
• PT XL AxiatacoreStrategic or Co-development PartnerAxiata's Indonesian subsidiary that merged with Smartfren to form XLSmart, serving over 94.3 million subscribers with projected annual revenue of 45.8 trillion rupiah (US$2.76 billion).
• AWScoreTechnology or IntegrationAWS participates as technology partner in TM Forum Moonshot Catalyst project alongside Axiata and other operators for autonomous network solutions.
• EricssoncoreTechnology or IntegrationEricsson participates as technology partner in TM Forum Moonshot Catalyst project alongside Axiata for autonomous network solutions.
• Red HatcoreTechnology or IntegrationRed Hat participates as technology partner in TM Forum Moonshot Catalyst project alongside Axiata for autonomous network solutions.

Scale indicators15 records

Recent moves7 records

Expansion highlights8 records

Broad incumbents

• Singtel: Asia's largest listed telecommunications conglomerate with operations across Singapore, Australia (Optus), and Associates across emerging Asia. Broad incumbent comparable to Axiata's diversified telco-plus-digital model and a fellow ANTA founding partner.
• Telenor ASA: Norwegian-headquartered telecommunications group with major emerging-market exposure including Bangladesh (Grameenphone), Malaysia (historical Celcom-Digi partner), and Pakistan. Broad incumbent comparable to Axiata on diversified emerging-market portfolio and digital services strategy.
• Bharti Airtel Limited: Indian-headquartered telecommunications group with operations across India and Africa offering mobile, broadband, and digital services. Comparable diversified emerging-market telco with strong financial services (Airtel Money) integration similar to Axiata's Boost/bKash model.

Direct peers

• PT Telkom Indonesia (Persero) Tbk: Indonesia's largest telecommunications group with mobile (Telkomsel), fixed, and digital services. Direct competitor to Axiata's XLSmart and LinkNet in Indonesia and the largest emerging-market telco comparable by scale and listed structure.
• Grameenphone (Telenor): Bangladesh's largest mobile operator and Telenor subsidiary. Directly competes with Axiata's Robi in the same Bangladeshi market with similar mobile, data, and digital services offerings to consumers and SMEs.
• Maxis Berhad: Leading Malaysian mobile operator directly competing with CelcomDigi across consumer, home, and enterprise segments. Highly comparable on geography, business model (subscription-based mobile/data), and target customer base.
• Indosat Ooredoo Hutchison: Indonesian telecommunications operator formed from Indosat Ooredoo and Hutchison 3 Indonesia merger. Directly competes with XLSmart in Indonesian mobile and converged services and is the most direct comparable to Axiata's Indonesian operations.
• Telekom Malaysia Berhad: Malaysian incumbent telecommunications operator offering mobile, fixed, and enterprise services. Direct competitor to Axiata's CelcomDigi in the home market and one of the closest regional telco comparables given similar product portfolio and Malaysian listing.

Emerging players

• Reliance Jio Infocomm: India's fastest-growing digital services operator offering mobile, fiber, and digital financial services. Comparable emerging-market telco-plus-fintech business model to Axiata's digital telcos and Boost segment, demonstrating scaled digital monetization.

Others

• Dialog Axiata (operating company) — sister reference: Axiata's own Sri Lankan operating subsidiary, included as a reference point for the group's mobile/fixed/digital offering template replicated across markets rather than as an external competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat2 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/axiata
• YouTubeyoutube.com/@AxiataGroupChannel
• Facebookfacebook.com/axiata
• LinkedInlinkedin.com/company/axiata
• Instagraminstagram.com/thisisaxiata

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries10 records

Funding overview

Funding rounds3 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Axiata