Introduction
Axiata Group Berhad ("Axiata") wishes to announce that Awake Asia Distribution Sdn Bhd (Company No. 201701033679 (1247850-D)) ("Subsidiary"), a dormant subsidiary of Axiata, has commenced a Members' Voluntary Winding Up pursuant to the Companies Act 2016.
The corporate equity structure and ownership chain of the Subsidiary within the Axiata group are as follows:
a) The Subsidiary is a subsidiary of ADA Data AI Commerce Solutions Pte Ltd (formerly AAD Holdings Pte Ltd) (Company No. 201719521D) ("Acquired Entity"), which in turn is held 100% by the company below:
b) ADA Data AI Solutions Pte Ltd (formerly ADA Digital Singapore Pte Ltd) (Company No. 201405137H), which in turn is held 100% by the company below:
c) ADA Data AI Solutions Sdn Bhd (formerly Axiata Digital & Analytics Sdn Bhd) (Company No. 201401043754 (1119936-M)), which in turn is held 63.47% by the company below:
d) Axiata Digital Services Sdn Bhd (Company No. 201401003317 (1079391H)), which in turn is held 80% by the company below:
e) Axiata Group Berhad (Company No. 199201010685 (242188-H)).
The Acquired Entity and its subsidiaries were acquired in 2021.
In relation thereto, Sky Corporate Services Sdn Bhd (Company No. 199301021831 (276569W)) of 12th Floor, Menara Symphony, No. 5, Jalan Prof. Khoo Kay Kim, Seksyen 13, 46200 Petaling Jaya, Selangor, Malaysia ("Liquidator") was appointed as the liquidator for the Subsidiary effective 2 July 2026.
The Members' Voluntary Winding Up of the Subsidiary is expected to take between nine (9) months to twelve (12) months from the date of appointment of the Liquidator, subject to the issuance of the Tax Clearance Letter from the tax authority.
Information on the Subsidiary
The Subsidiary was incorporated on 20 September 2017 under the laws of Malaysia. The total issued share capital of the Subsidiary is RM1,480,016 comprising 1,480,016 ordinary shares.
The Subsidiary's historical nature of business was to "engage in commercial conduct and carry out the business of trading, retailing, distributing all kinds of goods through electronic trading and/or e-Commerce".
The Subsidiary has remained dormant and inactive since 2022.
Rationale and Justification
As the Subsidiary has been completely dormant with no business operations, and there is no intention for it to carry out any business activities in the foreseeable future, the Members' Voluntary Winding-Up is being undertaken to:
a) Streamline the Group's corporate structure;
b) Eliminate redundant administrative layers; and
c) Reduce overall corporate maintenance, audit, and compliance costs.
Effects of the Winding Up
The Members' Voluntary Winding-Up of the Subsidiary will not have any material effect on the earnings, net assets, gearing, share capital, or substantial shareholders' shareholdings of the Company for the financial year ending 31 December 2026.
This announcement is dated 2 July 2026.