Axiata Group Bhd will stay put in the Indian mobile marketbut is hoping to operate in a more stable regulatory environment. The Indian Government'srecent revocation of 122 of the 2G licences issued in 2008 had createduncertainty and angered some foreign investors, some of whom have threatened towithdraw from the market place and to even sue the government. Axiata is aregional telecoms player with a 19.7% stake is India's Idea Cellular. The investmentwas made some years ago and Idea has since grown to become the third largest interms of subscribers. It has 110 million mobile subscribers in a market comprising656 million users as at end-February this year. Up to now there is littleclarity as to how the new 2G licences will be auctioned and whether the amountspaid for the spectrum that has been revoked will be taken into account when thenew licences are given out. Idea is one of the seven companies affected. Axiatapresident and group chief executive officer Datuk Seri Jamaludin Ibrahim saidthe impact on both Axiata and Idea of the revocation of the licences will be minimalas the cancelled licences were in Ebitda loss-making circles representing 4% ofrevenues for Axiata. - StarBiz

Malayan Banking Bhd (Maybank) has locally incorporated itsCambodian operation, Maybank (Cambodia) plc, in line with its plans to be amongthe top five banks in the country by 2015. Maybank Cambodia is currently rankedseventh in terms of assets among 33 banks operating in Cambodia. It will seeits capital boosted from the existing US$30.0mil (RM91.8mil) to US$50.0mil,which will enable it to operate at a comfortable capital adequacy ratio above12.0% while maintaining an aggressive growth strategy in the years ahead. Maybankpresident and CEO Datuk Seri Abdul Wahid Omar said that the local incorporationwould provide Maybank greater opportunities to expand its branch network inCambodia. Maybank, which set up a branch in Cambodia in 1993, has expanded to11 branches in the last 3 years. ' The Edge

Malaysia Marine and Heavy Engineering Holdings Bhd, whichraised RM980.7mil from its initial public offering (IPO), has revised theutilisation of listing proceeds. The money would now include the purchase ofSime Darby Engineering Sdn Bhd's fabrication yard in Pasir Gudang, Johor, forRM393.4mil. In a statement yesterday, Malaysia Marine said utilisation of theproceeds will be carried out immediately by its wholly-owned subsidiaryMalaysia Marine and Heavy Engineering Sdn Bhd, as it forms part and parcel ofthe yard optimisation programme. ' Business Times

Xchanging, the business process and technology serviceprovider-integrator, has signed a joint venture (JV) agreement with  YTL Communications Sdn Bhd, a subsidiary ofYTL Power International Bhd. A joint statement from Xchanging and  YTL Communications yesterday said the agreementwas for the establishment of Xchanging Malaysia Sdn Bhd, a 50:50 JV to developand deliver enhanced mobile Internet and cloud-based hosting offerings in Malaysia.

It said the JV would combine Xchanging's technology,delivering expertise and international domain knowledge with  YTL Communications' award-winning 4G networkand market reach, to deliver next-generation, mission-critical cloud solutions andplatforms. - StarBiz 

Source: AmeSecurities