Business Overview

I Company No. 867573-A I Company No. 867573-A 6. INFORMATION ON THE GROUP 6.1 History and background The Company was incorporated in Malaysia as a public company limited by shares pursuant to the Act on 7 August 2009 under its present name. Prior to the IPO. MCB implemented a restructuring exercise to consolidate its telecommunications operations in Malaysia under the Company. The shareholding structure of the Malaysian operations (comprising the Subsidiaries) and the related entities involved in the Pre-Listing Restructuring immediately prior to the commencement of the Pre-Listing Restructuring exercise was as follows: MeB  Other subsidiaries  100% Maxis Mobile” 100%  100% Maxis International” 100%  100% Maxis Mobile Services” 100%  100% Maxis Broadband” 100%  75%(1) Advanced Wireless Technologies I 100%  100% Maxis Collections  100% Maxis Multimedia  100% !’1~~~t~~~”  Maxis Mobile (LI  Maxis Asia Acces  ABV  Maxis Online  UMTSA
44%  CMA licence holder  ,  3G spectrum assignment holder  NTS
Note:  (1)  25% interest is owned by MBNS Multimedia Technologies Sdn Bhd, which is a wholly-owned subsidiary of ASTRO, a related party.  62
6. INFORMATION ON THE GROUP (cont’d) 6.2 Pre-Listing Restructuring The Pre-Listing Restructuring comprised the following steps: (i) Payment of dividends Between 1 July 2009 and 16 September 2009, Maxis Mobile Services, Maxis Broadband, Maxis International and Maxis Mobile declared dividends in an aggregate amount of: (a) RM4,025.6 million to MCB (“MeB Dividends”), of which RM2,841.4 million was paid in cash and RM1, 184.2 million constituted an amount payable by Maxis Broadband to MCB (“MB Amount Payable”); and
(b) RM290.0 million to BGSM (“RPS Dividends”), in respect of the RPS of Maxis Broadband held by BGSM (“MB RPS”), which was paid in cash.

The MCB Dividends and RPS Dividends utilised the entire retained earnings of each of Maxis Mobile Services, Maxis Broadband, Maxis International and Maxis Mobile as at 30 June 2009, amounting in aggregate to RM4,315.6 million. All the MB RPS were subsequently redeemed at the aggregate redemption price of RM1.0 million in cash (eqUivalent to the aggregate issue price of all the MB RPS). (ii) Disposal of ABV On 30 September 2009, Maxis Mobile Services disposed of ABV, which holds 44% equity interest in NTS, to MCB for total cash consideration of RM1,018.9 million, which was equivalent to Maxis Mobile Services’ cost of investment in ABV as at 30 June 2009. (iii) Settlement of intercompany balances Intercompany balances between the Subsidiaries and the other subsidiaries and jointly controlled entities of MCB (other than the Subsidiaries) were novated to MCB. The net intercompany balances owing by MCB to the Subsidiaries as at 30 September 2009 were settled for RM704.6 million in cash. The RM704.6 million comprises RM307.9 million owing by MCB, per Note 1.2(b) of the Appendix to the Proforma Consolidated Balance Sheets as set out in Section 12.5 of this Prospectus, and additional amounts owing by MCB due to the subsequent movement in net intercompany balances between 1 July 2009 and 30 September 2009. (iv) AcqUisition of Subsidiaries On 1 October 2009, the Company acquired the entire issued and paid-up share capital of Maxis Mobile Services, Maxis Broadband, Maxis International, Maxis Mobile, Maxis Collections and Maxis Multimedia and 75% of the issued and paid-up share capital of Advanced Wireless Technologies (being all the shares in Advanced Wireless Technologies held by MCB) for a total purchase consideration of RM34,998.2 million, of which RM31, 190.4 million was satisfied by the issuance of 7,499,999,998 Shares to MCB and RM3,807.8 million constituted an amount payable by the Company to MCB (“Maxis Amount Payable”). As at the date of this Prospectus, the Pre-Listing Restructuring has been completed. 6. INFORMATION ON THE GROUP (cant’d) The purchase considerations for Maxis Mobile Services, Maxis Broadband, Maxis International, Maxis Mobile and Advanced Wireless Technologies were arrived at after taking into consideration, among others, the following: (i)  the financial performance and operating history of the above subsidiaries;  (ii)  Maxis’ competitive strengths, business strategies and future plans (as set out in Sections 7.2 and 7.3 of this Prospectus respectively); and  (iii)  the proforma consolidated net assets of each of the above subsidiaries (after taking into consideration the payment of dividends and disposal of ABV as set out in this Section 6.2 of this Prospectus).  The  purchase considerations for Maxis Collections and Maxis Multimedia were determined
based on the cost of investment of MCB in Maxis Collections and Maxis Multimedia respectively. The total of the MB Amount Payable and Maxis Amount Payable is RM4,992.0 million. The terms of the sale and purchase agreement for the Pre-Listing Restructuring provides that payment of the MB Amount Payable and Maxis Amount Payable will be deferred until the Payment Due Date, provided that if the Company raises external debt prior to the Payment Due Date, the Company is required to pay the MB Amount Payable and Maxis Amount Payable within 5 business days upon receipt of the proceeds raised from such financing or such other date as MCB and the Company may agree in writing. Pending full payment of the MB Amount Payable and Maxis Amount Payable, Maxis is liable to pay MCB interest on the MB Amount Payable and Maxis Amount Payable, calculated at 3-month Kuala Lumpur Inter-bank Offered Rate plus 1.5% per annum (“Interest Rate”), calculated from 1 October 2009 until the full settlement of the MB Amount Payable and Maxis Amount Payable. The said interest shall accrue and become payable by Maxis to MCB quarterly in arrears until full settlement of the MB Amount Payable and Maxis Amount Payable. The interest on the MB Amount Payable and Maxis Amount Payable, including accrued interest which are payable shall be added for all purpose to the sum then owing and shall bear interest at the Interest Rate. Maxis is seeking long-term external debt financing of RM5,000.0 million, which is intended for the following: (i) to repay amounts owed pursuant to the Maxis Amount Payable; and
(ii) to on-lend to Maxis Mobile for the intended acquisition of certain network assets from Maxis Broadband under a sale-and-hire purchase arrangement. Maxis Broadband intends to use the proceeds received in respect of the disposal of these network assets under the sale-and-hire purchase arrangement to repay amounts owed pursuant to the MB Amount Payable.

For a detailed description of the impact of the Pre-Listing Restructuring on Maxis, please refer to Section 12.4 of this Prospectus for the proforma consolidated balance sheets of Maxis. See Section 12.3 of this Prospectus for details on credit facility obtained by Maxis for working capital and liquidity purposes. I Company No. 867573-A 6. . INFORMATION ON THE GROUP (cont’d) Maxis’ corporate structure after the Pre-Listing Restructuring and prior to the IPO is as set out below: MCB
100%100% ABV
44% NTS 100% 100% 100% 100% 100% Maxis ~ Broadband”  100%  Maxis Online
Maxis MaxisMaxis Mobile Collections MultimediaServices” -1100% ” CMA licence holder UMTS” • 3G spectrum assignment holder Maxis International”
Maxis Mobile” 100% 100% Maxis Asia Access
Maxis Mobile (ll
Note: (1) 25% interest is owned by MBNS Multimedia Technologies Sdn Bhd, which is a wholly-owned subsidiary of ASTRO, a related party. 65 6. INFORMATION ON THE GROUP (cant’d) 6.3 Subsidiaries The Subsidiaries as at the date of this Prospectus are as follows: Group Date and Issued and effective place of paid-up equity Name incorporation share capital interest Principal activities RM (unless % otherwise
stated) Direct subsidiaries Maxis Broadband 12 February 1,011,522(1) 100 Operator of a national pUblic switched network 1992 and provider of internet and internet application Malaysia services and include owning, maintaining, bUilding and operating radio facilities and associated switches Maxis Mobile 20 July 1981 1,293,884,000 100 Provider of mobile telecommunications Services Malaysia products and services
Maxis Mobile 28 November 2,503,022(2) 100 Operator of mobile telecommunications and 1991 provider of corporate support and service Malaysia functions as well as carrying out special niche projects such as USP
Maxis International 12 May 1992 2,500,662(3) 100 Operator of an international gateway Malaysia
Maxis Collections 10 April 1996 2 100 Collector of telecommunications revenue for Malaysia fellow subsidiaries
Maxis Multimedia 27 October 2 100 Provision of multimedia related services 2000 (dormant) Malaysia Advanced Wireless 21 June 2000 3,333,336 75 Provider of wireless multimedia related Technologies Malaysia services SUbsidiary held by Maxis Broadband Maxis Online 11 March 1992 2 100 Holder of investments (dormant) Malaysia Subsidiary held by Advanced Wireless Technologies UMTS  17 July 2000 Malaysia  100,000,000(4)  75  3G spectrum assignment holder  Subsidiary held by Maxis International  Maxis Asia Access  4 March 2000 Singapore  SGD2  100  Provider of international telecommunications services  Subsidiary held by Maxis Mobile  Maxis Mobile (L)  21 May 1998 Federal Territory of Labuan, Malaysia  USD10,000  100  Holder of investments  Notes:
Il} Comprising 1,000,002 ordinary shares of RM1.00 each and 1,152,000 Class B RPS of RMO.01 each in Maxis Broadband. (2) Comprising 2,500,002 ordinary shares of RM1.00 each and 302,000 RPS of RMO.01 each in Maxis Mobile.
(3) Comprising 2,500,002 ordinary shares of RM1.00 each and 66,000 RPS of RMO.01 each in Maxis Intemational.
(4) Comprising 2,500,002 ordinary shares of RM1.00 each and 97,499,998 non-cumulative convertible RPS of RM1.00 each in UMTS.

The details of the Subsidiaries as at the date of this Prospectus are set out as follows: 6.3.1 Maxis Broadband (Company No. 234053-0) Maxis Broadband was incorporated in Malaysia under the Act on 12 February 1992 as a private limited company under the name of Bina Sat-Com Network Sdn Bhd. On 12 July 1999, it assumed its present name. The authorised share capital of Maxis Broadband is RM300,000,000 comprising 299,963,000 ordinary shares of RM1.00 each, 100,000 MB RPS of RMO.10 each and 2,700,000 Class B RPS of RMO.01 each, and its issued and paid-up capital is RM1,011,522 comprising 1,000,002 ordinary shares of RM1.00 each and 1,152,000 Class B RPS of RMO.01 each. The MB RPS was allotted on 13 June 2008 for a cash consideration of RM1,000,000. As part of the Pre-Listing Restructuring, the MB RPS were redeemed on 9 October 2009 (See Section 6.2(i) of this Prospectus). On 8 October 2009, Maxis Broadband issued and allotted 1,152,000 Class B RPS of RMO.01each at an issue price of RM1 ,000 per RPS to Maxis Mobile Services. The principal activity of Maxis Broadband is as an operator of a national public switched network and a provider of internet and internet application services and include owning, maintaining, building and operating radio facilities and associated switches. Maxis Broadband commenced its business on 1 January 1996. Maxis Broadband does not have any associated company and has a wholly-owned subsidiary, Maxis Online. 6.3.2 Maxis Mobile Services (Company No. 73315·V) Maxis Mobile Services was incorporated in Malaysia under the Act on 20 July 1981 as a private limited company under the name of Electronics And Telematique (Malaysia) Sdn Bhd and later on 23 March 1995 changed its name to Sapura Digital Sdn Bhd. It subsequently changed its name to TIME PCN Sdn Bhd on 4 JUly 1997 and later on 28 August 1997, it changed its name to Time Wireless Sdn Bhd. On 26 June 2001, it changed its name to TIMECel Sdn Bhd and thereafter to Malaysian Mobile Services Sdn Bhd on 1 August 2003. On 1 October 2007, it assumed its present name. The authorised share capital of Maxis Mobile Services is RM1,293,884,000 comprising 1,293,884,000 ordinary shares of RM1.00 each, and its issued and paid-up capital is RM1 ,293,884,000 comprising 1,293,884,000 ordinary shares of RM1.00 each. Maxis Mobile Services is a provider of mobile telecommunications products and services. Maxis Mobile Services had a wholly-owned subsidiary, ABV, which in turn, has a 44% shareholding in NTS. Maxis Mobile Services does not have any associated company. Maxis Mobile Services commenced its business in 1995. Pursuant to the Pre-Listing Restructuring, details of which are set out in Section 6.2 of this Prospectus, Maxis Mobile Services has disposed of ABV, and accordingly the 44% interest in NTS, to MCB. 67 6. INFORMATION ON THE GROUP (cont’d) 6.3.3 Maxis Mobile (Company No. 229892-M) Maxis Mobile was incorporated in Malaysia under the Act on 28 November 1991 as a private limited company under the name of Binariang Communications Sdn Bhd and on 12 July 1999, it assumed its present name. The authorised share capital of Maxis Mobile is RM200,890,000 comprising 200,884,000 ordinary shares of RM1.00 each and 600,000 RPS of RMO.01 each, and its issued and paid-up capital is RM2,503,022 comprising 2,500,002 ordinary shares of RM1.00 each and 302,000 RPS of RMO.01 each. On 5 October 2009, Maxis Mobile issued and allotted 302,000 RPS of RMO.01 each at an issue price of RM1 ,000 per RPS to Maxis Mobile Services. Maxis Mobile is an operator of mobile telecommunications and a provider of corporate support and service functions as well as carrying out special niche projects such as USP. Maxis Mobile commenced its business on 1 July 1995. Maxis Mobile does not have any associated company and has a wholly-owned sUbsidiary, Maxis Mobile (l). 6.3.4 Maxis International (Company No. 240071.T) Maxis International was incorporated in Malaysia under the Act on 12 May 1992 as a private limited company under the name of Measat Global Telecommunications Sdn Bhd and on 12 July 1999, it assumed its present name. The authorised share capital of Maxis International is RM500,000,000 comprising 499,999,300 ordinary shares of RM1.00 each and 70,000 RPS of RMO.01 each, and its issued and paid-up share capital is RM2,500,662 comprising 2,500,002 ordinary shares of RM1.00 each and 66,000 RPS of RMO.01 each. There were 70,000 cumulative RPS of RM1.00 each allotted on 16 May 2002 and these were redeemed on 16 May 2007. On 5 October 2009, Maxis International issued and allotted 66,000 RPS of RMO.01 each at an issue price of RM1 ,000 per RPS to Maxis Mobile ~~ryices. Maxis International is an operator of an international gateway. Maxis International commenced its business on 2 June 1996. Maxis International does not have any associated company and has a wholly-owned sUbsidiary, Maxis Asia Access. 6.3.5 Maxis Collections (Company No. 383275·M) Maxis Collections was incorporated in Malaysia under the Act on 10 April 1996 as a private limited company under its present name. The authorised share capital of Maxis Collections is RM100,000 comprising 100,000 ordinary shares of RM1.00 each, and its issued and paid-up share capital is RM2.00 comprising 2 ordinary shares of RM1.00 each. Maxis Collections is a collector of telecommunications revenue for its fellow sUbsidiaries. Maxis Collections commenced its business on 1 January 1997. Maxis Collections does not have any subsidiary or any associated company. 6. INFORMATION ON THE GROUP (cont’d) 6.3.6 Maxis Multimedia (Company No. 530188-A) Maxis Multimedia was incorporated in Malaysia under the Act on 27 October 2000 as a private limited company under its present name. The authorised share capital of Maxis Multimedia is RM500,OOO comprising 500,000 ordinary shares of RM1.00 each, and its issued and paid-up share capital is RM2.00 comprising 2 ordinary shares of RM1.00 each. The intended principal activity of Maxis Multimedia is the provision of multimedia related services. Maxis Multimedia has not commenced its business. Maxis Multimedia does not have any subsidiary or any associated company. 6.3.7 Advanced Wireless Technologies (Company No. 517551-U) Advanced Wireless Technologies was incorporated in Malaysia under the Act on 21 June 2000 as a private limited company under its present name. The authorised share capital of Advanced Wireless Technologies is RM5,000,OOO comprising 5,000,000 ordinary shares of RM1.00 each, and its issued and paid-up share capital is RM3,333,336 comprising 3,333,336 ordinary shares of RM1.00 each. Advanced Wireless Technologies became a wholly-owned SUbsidiary of MCB on 15 May 2002, and on the same day, UMTS became a wholly-owned subsidiary of Advanced Wireless Technologies. Advanced Wireless Technologies commenced its business on 15 May 2002 by virtue of its investment holding in UMTS. Advanced Wireless Technologies does not have any associated company and has a wholly-owned subsidiary, UMTS. The Company owns a 75% interest in Advanced Wireless Technologies. The remaining 25% interest is owned by MBNS Multimedia Technologies Sdn Bhd, which is a wholly-owned subsidiary of ASTRO, a related party. 6.3.8 Maxis Online (Company No. 235849·A) Maxis Online was incorporated in Malaysia under the Act on 11 March 1992 as a private Iimitedcpmpany under the name of Sungai Tembesi (M)~dn Bhd. On 30 July 1996, it changed its name to BSB Online Sdn Bhd. On 12 July 1999, Maxis Online assumed its present name. The authorised share capital of Maxis Online is RM100,000 comprising 100,000 ordinary shares of RM1.00 each, and its issued and paid-up share capital is RM2.00 comprising 2 ordinary shares of RM1.00 each. The intended principal activity of Maxis Online is a holder of investments. Maxis Online has not commenced its business. Maxis Online does not have any subsidiary or any associated company. 6.3.9 UMTS (Company No. 520422·0) UMTS was incorporated in Malaysia under the Act on 17 July 2000 as a private limited company, under its present name. 6. INFORMATION ON THE GROUP (cont’d) The authorised share capital of UMTS is RM100,000,000 comprising 2,500,002 ordinary shares of RM1.00 each and 97,499,998 non-cumulative convertible RPS of RM1.00 each (“NCCRPS”). The issued and paid-up share capital of UMTS is RM100,000,000 comprising 2,500,002 ordinary shares of RM1.00 each and 97,499,998 NCCRPS all of which are held by Advanced Wireless Technologies. Each NCCRPS is convertible into 1 ordinary share of RM1.00 each in UMTS at any time. UMTS is a 3G spectrum assignment holder. UMTS commenced its business on 18 April 2005. UMTS does not have any subsidiary or any associated company. 6.3.10 Maxis Asia Access (Company No.200001826C) Maxis Asia Access was incorporated in Singapore on 4 March 2000, under the name of Asia Access Network Pte Ltd. On 30 June 2009, Maxis Asia Access assumed its present name. The issued and paid-up share capital of Maxis Asia Access is SGD2.00 comprising 2 ordinary shares of SGD1.00 each. Maxis Asia Access is a provider of international telecommunications services. Maxis Asia Access commenced its business on 1 February 2008. Maxis Asia Access does not have any subsidiary or any associated company. 6.3.11 Maxis Mobile (L) (Company No. LL01709) Maxis Mobile (L) was incorporated in the Federal Territory of Labuan, Malaysia under the Offshore Companies Act, 1990 on 21 May 1998 under the name of Binariang Mobile (L) Ltd. On 7 July 1999, Maxis Mobile (L) assumed its present name. The authorised share capital of Maxis Mobile (L) is USD100,000 comprising 100,000 ordinary shares of USD1.00 each, and its issued and paid-up share capital ;s USD10,OOO comprising 10,000 ordinary shares of USD1.00 each. The principal activity of Maxis Mobile (L) is a holder ofinvestments. Maxis Mobile (L) commenced its business on 21 March2006.” . Maxis Mobile (L) does not have any subsidiary or any associated company. Save as disclosed above: (i) there have been no changes in the issued and paid-up share capital of the Subsidiaries since 1 August 2006 up to the date of this Prospectus; and
(ii) the Subsidiaries do not have any outstanding warrant, option, convertible security or uncalled capital as at the date of this Prospectus.

6. INFORMATION ON THE GROUP (cont’d) Save as disclosed below, Maxis has not undertaken any material acquisition or divestment of interests for the 3 years ended 31 December 2008 and the period beginning 1 January 2009 up to the date of this Prospectus: (i) the acquisition by Maxis Mobile Services of ABV for a cash consideration of EUR26,120, which in turn acquired a 44% equity interest in NTS for a cash consideration of USD123.9 million, resulting in a total effective shareholding of 95% by Maxis Mobile Services in NTS. The acquisitions were completed in April 2007;
(ii) the disposal by Maxis Mobile Services of its entire shareholding in Teleglobal Investments BV. (holding a 51 % equity interest in NTS) to STC Indonesia Holding Cooperatief U.A., a wholly-owned subsidiary of Saudi Telecom, as part of an overall aggregate USD3.05 billion investment by Saudi Telecom into the BGSM group of companies, which resulted in Saudi Telecom acquiring a 25% strategic equity interest in BGSM and a 51 % equity interest in NTS. The investment also included Saudi Telecom underwriting a USD450.0 million junior sukuk issued by BGSM out of an issuance size of USD900.0 million. This transaction was completed in September 2007; and

(iii) the Pre-Listing Restructuring as set out in Section 6.2 of this Prospectus. (The rest of this page has been intentionally left blank) 7. BUSINESS OVERVIEW 7.1 Introduction Maxis is the leading mobile communications service provider in Malaysia by customer base and by revenues from Malaysia, with 11.4 million mobile subscriptions, representing 40.0% of the estimated 28.5 million mobile subscriptions in Malaysia as at 30 June 2009, and revenues of RM8,449.8 million for the year ended 31 December 2008 and RM4,243.8 million for the 6 months ended 30 June 2009. Maxis’ business comprises 3 business segments, namely its mobile services, fixed line services and international gateway services. As at 30 June 2009, Maxis’ mobile services are offered on a postpaid basis to customers under the maxis brand to approximately 2.9 million subscriptions, representing 46.4% of the estimated 6.2 million postpaid subscriptions in Malaysia, and on a prepaid basis to customers under the HOTLiNK brand to approximately 8.5 million subscriptions, representing 38.2% of the estimated 22.3 million prepaid subscriptions in Malaysia. The use of the 2 distinct brands has enabled Maxis to develop its prepaid business successfully while maintaining growth in its postpaid business. As at 1 October 2009, Maxis’ GSM Network covered 92.0% of the population in Malaysia. In addition to GSM, Maxis’ network also supports GPRS, EDGE and 3G. Maxis currently has been assigned a block of 3G spectrum through its 75%­owned subsidiary, UMTS. Maxis has pioneered and led the market in the provision of a number of mobile services in Malaysia. • December 2004 -First operator in Malaysia to launch the BlackBerryTM
• April 2005 -First operator in Malaysia to launch 3G services
• September 2006 -First operator in Malaysia to launch HSPA for wireless broadband services
• March 2008 -First operator in Malaysia to surpass 10 million subscriptions
• March 2009 -First operator in Malaysia to launch the Apple iPhone™
• April 2009 -First operator in Malaysia to launch commercial NFC services

Maxisplovldes its corporate and SME’GUstomers with enhanced postpaid plans based on its consumer postpaid plans. The plans are enhanced to meet specific enterprise customers’ needs such as free calls or SMS among employees of the organisation using Maxis mobile services, special call rates during business hours and phone subsidies that are commensurate with the type of rate plans and tenure. Maxis launched its fixed line service in January 1996 and provides a full suite of voice services, data services, VSAT services and IP and managed services to consumers and business customers. Maxis’ international gateway services comprise services to international telecommunications carriers for termination of traffic into Malaysia, services to send Maxis’ own international traffic abroad and bandwidth leasing services. The international gateway services were set up to support the mobile and fixed line services for outbound and inbound traffic. Additionally, Maxis also engages in the trading of international voice wholesale (hubbing) minutes. Wholesale hubbing business combines organic and hubbing traffic to derive cost advantages in settlement rates, to allow for competitive IDD rates to be provided to Maxis’ customers as well as for securing higher volumes of inbound Malaysian terminating traffic. As at 30 June 2009, Maxis had bilateral connections with 95 carriers in 38 countries and has capital investments in a number of submarine cable systems to carry its international voice and data traffic. 7. BUSINESS OVERVIEW (cont’d) The Subsidiaries (other than Maxis Asia Access) were part of MCB, which was listed in July 2002. SUbsequent to its listing, MCB expanded into India and Indonesia and continued to look into expanding its business overseas. BGSM believed that such expansion would significantly change the financial and risk profile of MCB due to uncertainties surrounding the investment and regulatory environments in new markets, the substantial capital expenditure required which may strain MCB’s cash flows and dividend payment capability and the increase in gearing to finance such capital expenditure and investments in new markets which may result in higher borrowing costs. As such, BGSM undertook the privatisation of MCB in May 2007 as it believed that private ownership then would accord greater flexibility for MCB to realise its vision to be a leading telecommunications company and to adopt a capital structure consistent with the change in its funding and risk profile. The privatisation was carried out by BGSM via a voluntary general offer for MCB shares at an offer price which represented the highest traded price of MCB shares since its listing in 2002. Thereafter, Saudi Telecom entered into an agreement to form a strategic partnership with BGSM in June 2007, which was completed with Saudi Telecom becoming a strategic shareholder of BGSM in September 2007. In June 2007, Saudi Telecom announced that its investment in BGSM represented a significant step forward in Saudi Telecom’s history and a milestone in the development of Saudi Telecom as a global player in the telecommunications arena. In its announcement, Saudi Telecom also mentioned that the transaction was consistent with its strategy and objective to expand into high growth emerging markets not only to diversify its revenue to countries outside of Saudi Arabia but also to generate sustainable long-term growth for the future. The partnership with Saudi Telecom provides the opportunity to link MCB, and its operations in Malaysia and India, to a leading telecommunications operator in the Middle East in a mutually beneficial way. Saudi Telecom has brought complementary expertise to Maxis as an integrated large scale operator. . SUbsequent to the privatisation, the Subsidiaries, which recorded combined revenues of RM6,957.1 million and PAT of RM2,105A million for the financial year ended 31 December 2006, had recorded combined revenues of RM7,689.6 million, RM8,449.8 million and RM4,243.8 million and PAT of RM1,980.2 million, RM2,400A million and RM1,141.0 million for the 2 financial years ended 31 December 2008 and for the 6 months ended 30 June 2009, respectively. For each of those periods, the Subsidiaries’ mobile operations accounted for over 90% of its combined revenues. In addition, the Subsidiaries’ combined EBITDA increased from ‘” ,.;”.”,< RM3,743.0million y~arended 31 Oecel)1ber 2096 ~9. RM4,402.1 lTliIlJ9.{1)or the financial year ended 31 December 2008. Prior to the IPO, MCB implemented a restructuring exercise to consolidate its telecommunications operations in Malaysia under the Company. With the IPO and the listing, MCB will re-introduce to the Malaysian equity market the Malaysian business of MCB, Le. Maxis, which has grown over the years and has strong and stable cash flows. In comparison to MCB, Maxis is solely focused on Malaysia and therefore its operating free cash flows are separated from the uncertainties of the foreign operations of MCB. Corporate vision Maxis’ vision is to bring advanced communications services to enrich its customers’ lives and businesses, in a manner that is simple and personalised, by efficiently and creatively harnessing leading edge technology, and delivering a brand of service experience that is reliable and enchanting. 7. BUSINESS OVERVIEW (cont’d) 7.2 Competitive strengths Maxis believes that its position as the leading mobile communications service provider in Malaysia is built on the following competitive strengths: • Market leadership and effective branding Maxis remains the leading mobile operator in Malaysia in both the prepaid and postpaid segments with 11.4 million aggregate subscriptions and a 40,0% blended market share as at 30 June 2009. Importantly, Maxis’ leadership is well entrenched in the postpaid segment where it has a 46.4% market share, providing it with an effective platform to cross-sell new products and services. Maxis’ brand values are centered around the core values of Simple, Creative and Trustworthy, which are manifested across the experience provided by Maxis to its customers and form the foundation of its internal cultural values. Maxis has built maxis and HOTLiNK into 2 of the most recognised and valuable brands in Malaysia through delivery of distinctive customer experiences and high network quality. This leadership has been strengthened by consistently managed advertising, promotions and image programmes built around Maxis’ commitment to providing high quality, customised and innovative mobile communications services to its customers. These promotions and programmes are designed to guide customers towards the products and services which they seek. Maxis has been ranked among the top 5 most valuable brands in Malaysia in 2008 and 2009 by Brand Finance. • High network quality and customer service Maxis has high network quality and ubiquitious coverage across Malaysia through 6,291 base station sites as at 1 October 2009. The Maxis network has particular strengths in the areas of 2G and 3G voice and data services. Maxis’ extensive network coverage and high network quality have been sustained through investments year-on-year in network coverage and capacity enhancements ahead of customer demands. Maxis endeavours to maintain a network that delivers the quality of products and services that its customers have begun to expect from Maxis’ brands. More recently, and over the past 2 years in particular, Maxis has invested in next generation networks -it has migrated its 3G radio ….-.,’.-and.~ajor -parts· of its transmission networks -to cor.iemporary-IP-based technology and is in the process of migrating its entire core (switching) network. This has enabled Maxis to enhance the delivery of advanced data services and to significantly broaden its broadband footprint, while improVing reliability and operational efficiencies. In tandem with the modernisation of its networks, Maxis has also become the first communications service provider in the Southeast Asian region to enter into a full transformation model with IBM, under a strategic partnership to transform its IT services for the delivery of future products and services to its customers. This transformation process includes selecting and implementing customer centric platforms and applications, which will help simplify and personalise the customer interface while adding further agility to the organisation. Maxis provides a distinctive customer experience through segment-tailored bundled initiatives linked with associated loyalty programmes that allow the sale of differentiated community products resulting in better churn management and strong customer retention. This is backed by Maxis’ customer-focused culture which is predicated on measurable, time-critical and responsive customer care and service. This focus has contributed to Maxis’ recognition as an industry leader in Malaysia with respect to service quality, personalised customer experience and overall customer satisfaction, distinctively underlining the premium attached to the brand. 7. BUSINESS OVERVIEW (cont’d) • Strong and effective distribution network Maxis’ extensive distribution network comprises over 21,000 points of sale (excluding internet access points) of which over 12,000 are physical retail locations across Malaysia, to complement its segmentation strategy. This comprehensive distribution network is one of the major contributors to Maxis’ growth and its ability to maintain its market-leadership position. Maxis regards its dealers and distributors as close business partners, and supports these partnerships with reliable technical support and effective dealer training programmes. Many of Maxis’ dealers have been loyal to Maxis for over a decade, effectively creating a reservoir of consumer understanding, while endorsing the product and brand credibility at the customer level. • Well placed to capitalise on fast growing broadband and data opportunities As Malaysia is estimated to have over 50% of its population under 25 years of age, a large proportion of which comprises regular internet users, Maxis believes that the Malaysian market is poised for significant growth in broadband and mobile data services, and Maxis is well placed to capture this opportunity. For instance, during the month of June 2009, 40.7% of Maxis’ subscribers had accessed the internet through their mobile devices. For the 6 months ended 30 June 2009, 31.1% of Maxis’ mobile revenues originated from non-voice services, making Maxis a leader in the provision of mobile data services in Malaysia. To support its non-voice and broadband business, Maxis has created a strong product development engine to deliver smart applications across mass market phones as well as sophisticated high end devices. In addition, Maxis has built a powerful ecosystem of partnership with content providers (including ASTRO, Yahoo and Friendster) and device manufacturers (including Apple and RIM) which is expected to support the delivery of the next generation of broadband and data products and services to customers. • Experienced management team Maxis believes it has an experienced key management team drawn from global and local talent that provides a balanced blend of international telecommunications and relevant industry expertise, local knowledge and understanding. Each member of the key management team has more than a decade of relevant industry experience, and they are part of a generation that saw the birth of mobile GSM and its natural evolution to 3G, .. HSP,A .. and broadband. Maxis als0believes that has.the.rightmix of skilksets and experience necessary to lead a successful communications operation in Malaysia’s competitive and changing market environment. Furthermore, many of Maxis’ middle management executives have been with Maxis for a substantial tenure and have implemented many value-enhancing initiatives which have allowed Maxis to adapt to changing market dynamics and maintain its market-leading position. At its core, Maxis values human capital and is regarded to be among Malaysia’s top employers, having invested in an in-house academy for managers, strong leadership development programmes involving partnerships with institutions such as Harvard Business School Publishing and IBM, recruitment of outstanding graduates from leading universities as management trainees, employee performance management systems, scholarships for higher studies and regular employee satisfaction surveys. 7. BUSINESS OVERVIEW (cont’d) • Cash flows generation, financial discipline and corporate governance Maxis’ robust financial position reflects its sound financial discipline and corporate governance practices. Maxis has demonstrated a track record of relatively high and consistent margins. Together with its prudent investment policies, this has resulted in strong and stable cash flows. Maxis has enhanced and intends to continue to enhance efficiencies through the adoption of international best practices, investment in human resources and systems, and leveraging on the strengths of its strategic partners. All of these factors, accompanied by strong financial discipline and governance, are directed towards underpinning the performance of the business, cash flow generation and supporting its growth. 7.3 Business strategies and future plans Maxis believes that its extensive customer base, stronghold in the high-value segments, high quality network and services, effective distribution, recognised brand equity and resulting strong cash flows generation will allow it to consolidate its position in the mobile market. In addition, Maxis intends to utilise its strengths to extend its leadership into the household, corporate and SME segments and strengthen its position in the fast growing areas of data and broadband. Background and trends Maxis sees several principal trends impacting the global telecommunications industry and Maxis’ businesses: (1) telecommunications companies globally are seeking to capture mUltiple revenue streams by offering to all categories of customers a broader range of services; (2) mobile access and penetration are continuing to grow due to mUltiple SIM usage, expansion in underserved areas and the emergence of new segments, devices and applications; (3) voice has largely been commoditised; (4) data usage is increasing and customers are demanding increased speed and bandwidth, mobility, differentiated content and user-friendly applications; and (5) the competitive and regulatory environments are encouraging the emergence of new players and infrastructure sharing. In addition to these global trends, Maxis believes that the growth in the Malaysian telecommunications market will be driven by the young demographic profile of the population in Malaysia and the accelerating adoption of mobile data, 3G, internet and broadband. This will be .’ . ,. fuelled by .the ..growing.ownership and increasing range ofde.vices, .smartphone!kand netbooks and the key initiatives by the Government to use the telecommunications sector as one of the strategic vehicles for driving economic growth and development of rural areas. Although mobile SIM penetration in Malaysia has exceeded 100%, Maxis believes that significant future growth opportunities still remain, for example, in the less penetrated regions of East Malaysia, the East Coast of Peninsular Malaysia, and in the youth segments. In a number of other markets, 81M penetration continues to grow well over 100% as noted above. Maxis believes that Malaysia’s demographic profile, whereby over 50% of its population is estimated to be under 25 years of age, provides opportunities for growth both in terms of subscribers and adoption of new data services. The Malaysian population is already internet-centric, with 15.9 million reported internet users as at 31 March 2009. Over the last 3 years, these users have increasingly extended their internet access to mobile devices and to wireless and fixed line broadband subscriptions. Penetration rates of Maxis’ customer base for key advanced data services are high. During the month of June 2009, 4.6 million of Maxis’ subscribers accessed the internet with their mobile devices, and 1.8 million subscribers used MMS. Falling prices of 3G phones and increasing data usage have also served to boost Maxis’ 3G penetration to 20.3% of its total mobile customer base, which equates to 2.3 million active subscriptions. 7. BUSINESS OVERVIEW (cont’d) The Government has stated its target to take broadband penetration in the country to 50% by 2010. As part of this initiative, it has entered into a private-public partnership with TM to launch a national HSBB programme. The Commission has stated that it will ensure that other providers, including Maxis, will be able to access the HSBB network on reasonable terms and conditions and on an equitable and non-discriminatory basis. Maxis expects that customers will increasingly seek multiple applications and services, requiring higher bandwidth and differentiated content for their homes and businesses. Maxis believes that fixed line and wireless broadband are addressing a variety of different consumer needs, covering high bandwidths and mobile access, and therefore will provide highly complementary opportunities to drive incremental revenue from its customers. Max~’opportuni~andsuamgy The global trends and specific developments in Malaysia discussed above provide an opportunity for Maxis to redefine and broaden its products and applications, change the way Maxis interacts with customers and addresses their needs, and extends its leadership into the household and enterprise segments. Through a combination of strategies, Maxis intends to consolidate its market leadership in the mobile market in order to preserve and enhance cash flow generation and to address tangible growth opportunities in areas such as data and broadband. Maxis aims to attain these objectives through 3 strategic thrusts set out below. 7.3.1 Broaden and deepen customer base and relationships To address grOWing customer communications needs and to consolidate its market leadership, Maxis intends to: • Leverage the eXisting customer base. Maxis believes that having the largest mobile customer base, with particular strength in the postpaid segment, provides it with unique opportunities to extend the customer relationship into the household and business segments. These include building on-net communities through family and account-type plans and cross-selling data and broadband services. Maxis’ distribution channels, especially its existing exclusive postpaid retail outlets, will continue to evolve their cross-sell and service capabilities for existing customers. The size of Maxis’ customer base also makes Maxis more attractive when working with,third parties to offer compellif!£.loyalty and cros,c;.-selling programmes as weltas content.
• Extend and improve reach. Maxis intends to extend network and channel coverage to underserved and new geographies. This focuses on filling in remaining gaps in existing markets and expanding its reach in East Malaysia and the East Coast of Peninsular Malaysia. In addition, in order to multiply access opportunities and to drive cost efficiencies in distribution, Maxis is enhancing and improving its prepaid top-up points to new forms such as ATM and the internet. Maxis is also pursuing wholesale concepts such as MVNOs and reseller agreements to strategically address underserved and niche segments.
• Enhance brand equity. Maxis believes that the core of its brand experience is high network quality, customer service and innovative services. Maxis intends to make additional improvements in these areas, for example, through continued investments in network and IT infrastructure, service quality enhancements in retail and contact centres, new channels and new product launches. These improvements, together with the creative utilisation of mass media and direct communication channels, can further strengthen Maxis’ brand equity.

7. BUSINESS OVERVIEW (cont’d) • Refine customer segmentation. Maxis believes that customer segmentation enables it to implement strategies to foster growth, loyalty and manage churn, particularly in its areas of strengths (Le., corporate, SME and high usage segments for mobile services), and to address new opportunities in the youth, household, sub-urban and rural markets. Maxis is developing advanced customer relationship management systems to gain further insights into customer needs. This will allow for more tailored services, bundled solutions, a sophisticated approach to pricing and wider market reach through customised channels for services, enhancing value for the customer. 7.3.2 Grow the broadband and data business To further improve its position in the broadband and data business, Maxis is focused on the following: • DriVing broadband demand. Maxis intends to offer integrated broadband services to its customers. Maxis will continue to expand the coverage of its high-speed wireless broadband network and intends to selectively invest in its own fixed line footprint, leverage on the Government’s HSBB initiative and form strategic partnerships for access to homes and commercial buildings. Maxis will also capitalise on its large customer base, brand reputation and channel coverage through focused cross­selling and integrated service bundle offerings.
• Improving user expen·ence. Maxis is focusing on the development of an innovative concept that is expected to simplify user experience and allow its customers to access their content and applications better. These initiatives are expected to include integrating contact information with user availability and location status, strengthening search and portal capabilities. providing unified access to social networks and offering a seamless multimedia experience across multiple access devices and screens. The first such services are being launched in the second half of 2009 and include an application store, a user-generated and location-based directory services, a unified community platform for all Maxis services, and a seamless gateway to social networks.
• Developing partnerships. Customers are increasingly demanding enriched and differentiated content which requires engagement with key players in and around the industry. Maxis has already created a strong ecosystem of partnerships with leading

“>F~”-; . , and’ ‘premium’contentproviders”‘chld device manufacturers;’ -including ASTRO~’ Yahoo, Friendster, Apple and RIM. Specifically, working with ASTRO’s multimedia units enables Maxis to obtain access to popular local content reformatted for mobile access and to jointly develop new premium content for mobile access. Maxis has also created partnerships with Visa, Maybank. Touch ‘N Go and Nokia for the launch of commercial NFC services in Malaysia. Maxis intends to expand this ecosystem further through relationships and co-branding with partners. • Strengthening content differentiation. Maxis realises the importance of relevant content and continues to be committed to supporting both international and local content developers. Maxis is bUilding on these relationships to strengthen the depth and breadth of content and to develop applications that meet the needs of a growing range of customer segments. For example, Maxis has initiated the development of a third-party oriented application store and launched dedicated programmes for developers, including the Maxis Developer Programme and the Maxis Content Challenge. These efforts also aim to foster the development of productivity-focused applications for the corporate and SME segments. 7. BUSINESS OVERVIEW (cont’d) • Future proofing. Maxis is making focused efforts to develop potential future growth areas. In the area of mobile services, for example, Maxis is focused on developing applications for m-commerce, mobile TV and mobile advertising. As part of these efforts, Maxis has set up dedicated teams for each area and carried out trials on new technologies like DVB-H and MediaFlo and introduced mobile advertising and various m-commerce solutions such as NFC services and remittances. 7.3.3 Transform operational platforms In executing the strategic thrusts set out in Sections 7.3.1 and 7.3.2 of this Prospectus, Maxis is making significant efforts for the following: • Continuous strengthening and modemisation of network. Network quality and capabilities are at the heart of Maxis’ strategy to consolidate its market leadership and also capture the growing broadband and data opportunities. To this end, Maxis is focusing on continuous network quality improvement and expansion of its high­speed, high-capacity wireless broadband network in geographic areas with significant data demand. Further expansion of the 2G network is also being undertaken in markets where customers are still demanding more basic voice and data services, e.g., in the suburban and rural markets of East Malaysia and the East Coast of Peninsular Malaysia. In addition, Maxis sees the opportunity to broaden its reach to household, corporate and SME customers through selective investments and partnerships relating to access to the customers’ premises including through leveraging the HSBB initiative.
• IT transformation. Maxis is conscious that it needs an infrastructure that is reliable, business oriented and which supports continuing innovation and business development. Consequently, Maxis has entered into a strategic partnership with tBM to strengthen the robustness of its IT architecture, augment service capabilities through advanced customer relationship management systems and convergent billing, enhance innovation capabilities through improved service delivery platforms, and derive operational efficiencies.
• Cost management to drive profitability and cashflows. Maxis is making concerted efforts to further improve its productivity levels and its cost to serve customers. Maxis believes that re-engineering and reducing costs through efficient cost

. ” mam:i:/a-mentand streamlined partii&iships will be essentiaHor·margin preservatkm'” and to deliver strong financial performance. • Human capital development. Maxis recognises the importance of an effective human resource strategy to support its growth. Consequently, Maxis has invested significantly in training its employees, including the establishment of the Maxis Training Academy, and is taking active steps to attract, nurture and develop its next generation of leaders. 7.4 Mobile services 7.4.1 Overview Maxis has been operating its postpaid mobile service under the maxis brand since August 1995, and its prepaid mobile service under the HOTLiNK brand, since October 1999. As at 30 June 2009, Maxis had a total of 11.4 million mobile subscriptions, representing 40.0% of an estimated 28.5 million mobile subscriptions in Malaysia, comprising 2.7 million postpaid SUbscriptions, 8.5 million prepaid SUbscriptions and 0.2 million wireless broadband subscriptions. 7. BUSINESS OVERVIEW (cont’d) Maxis has been allocated a total of 2×10 MHz of spectrum in the GSM 900 MHz frequency band, 2×6 MHz of spectrum in the extended GSM 900 MHz frequency band and 2×25 MHz of spectrum in the GSM 1800 MHz frequency band. Maxis also has a block of W-COMA 2100 MHz 3G network spectrum through UMTS, consisting of 2×15 MHz FOO and 1×5 MHz TOO frequencies. Through various access agreements, Maxis has agreed with other Malaysian telecommunication operators and various state-owned companies to share network facilities and services. Maxis’ mobile network is interconnected to all other fixed and mobile operators in Malaysia, as well as certain other international fixed and mobile operators so as to allow voice and data services to and from any fixed line or mobile telephone within and outside Malaysia. See Section 7.9 of this Prospectus. As at 1 October 2009, Maxis’ GSM Network covered 92.0% of the population of Malaysia, while Maxis’ 3G mobile network covered 57.5% of the population of Malaysia. As at 1 October 2009, Maxis’ GSM Network comprised 6,268 2G base stations and 3,145 3G base stations. The 2G mobile network covers all major towns, cities and principal traffic routes throughout Malaysia, including the North-South Expressway which is the principal highway in Malaysia. The 3G network was launched in April 2005 and is being gradually extended to areas with demand for high speed services. The 3G mobile network has fewer sites and therefore less coverage, but 3G coverage is concentrated in the major cities, towns and along principal traffic routes. Coverage is expected to increase as the 3G roll-out progresses. Maxis’ 3G mobile network allows subscribers to use the 2G mobile network. Maxis expects to extend further its mobile network geographically within Malaysia in accordance with demand. The following tables set out selected financial and operating information about Maxis’ mobile business for the periods indicated.  2006  Fo r the year end31 December 2007  ed 2008 (:=R”‘M=-m—Cj;:’;lIi=-o—Cn )  _ For the 6 months ended 30 June –,2::..:0:.::0.::-8 2009
Financial information  Mobile revenue  6.535.2  7,173.1  7,866.1  3,816.5  3,915.5  -Postpaid  2,657.2  2,815.8  3,185.8  1,525.3  1,772.6  -Prepaid  3,878.0  4,357.2  4,680.3  2,291.2  2,142.9  . .·,;r. ~.  As at or for the year ended .’ ..,-.””, 31 December .••..:”..  As at or for the 6 ” months ended 30 JUn!,” “.”  .  2006 —­ 2007  2008  _–,2::..:0..:.08::….  2009  Operational information  Total population of Malaysia (in thousands)”  26,640.2  27,173.6  27,728.7  27,451.8  28,007.3  Malaysian mobile subscriptions (in thousands)”  19,458.8  23,376.2  27,152.1  25,167.0  28,545.0  Malaysian mobile penetration rate (%)”  73.0  86.0  97.9  91.7  101.9  Number of Maxis mobile subscriptions  (in thousands)  -Postpaid  1,623.1  1,907.3  2,503.8  2,115.0  2,727.7  -Prepaid  6,440.2  7,811.6  8,590.1  8,419.1  8,523.9  -Wireless broadband  4.5  46.3  140.2  101.3  171.2  Total  8,067.8  9,765.2  11,234.1  10,635.5  11,422.8  Maxis market share of subscriptions (%)  41.5  41.8  41.4  42.3  40.0  Maxis annual mobile subscriptions growth rate (%)  2.7′  21.0  15.0  19.3  7.4  Monthly ARPU (RM)  -Postpaid  140.2  125.3  112.3  115.5  102.9  -Prepaid  46.4  51.0  46.6  47.0  41.6  -Wireless broadband  99.1  75.4  95.5  88.2  101.6  -Blended  61.2  64.0  58.6  59.1  54.2
7. BUSINESS OVERVIEW (cont’d) As at or for the year ended As at or for the 6 31 December months ended 30 June 2006 2007 2008 2008 2009 Total MOU (in millions) 15,786.9 18,886.4 22,842.7 11,080.9 11,332.2 Average monthly MOU per subscription (minuteS)(‘) -Postpaid 465.4 406.2 396.1 399.7 369.2 -Prepaid 92.0 124.6 131.5 136.3 112.8 -Blended 156.1 178.7 184.0 186.6 171.6 Average monthly chum rate (%)(2) -Postpaid 1.1 1.2 1.2 1.2 1.8 -Prepaid 6.8 4.3 4.3 3.9 4.9 -Wireless broadband 7.0 11.9 3.9 3.4 4.5 -Blended 5.4 3.7 3.6 3.3 4.2 Notes: Based on Frost & Sullivan’s report as set out in Section 8 of this Prospectus. # Low growth attributable to commencement of mandatory prepaid subscriber registration. (1) Average monthly MOU per SUbscription excludes roaming partner minutes but includes free minutes effective from June 2007. (2) Average monthly chum rates for postpaid, prepaid and wireless broadband subscribers exclude migration of Maxis’ subscribers from one product to another 7.4.2 Customers Maxis has experienced rapid mobile customer growth since the launch of its mobile services. With 11.4 million mobile subscriptions as at 30 June 2009, Maxis’ share of the Malaysian mobile market, which is estimated at 28.5 million mobile subscriptions as at 30 June 2009, is 40.0%, making Maxis the leading mobile operator by customer base in Malaysia. Maxis has a broad range of customers across different demographic groups. Over the last 3 financial years ended 31 December 2008 and for the 6 months ended 30 June 2009, the average age of Maxis’ customers has become younger. As at 30 June 2009, a third of the customer base comprises individuals under the age of 25. The youth segment customers are more likely to be users of SMS, MMS and GPRS data. Many of Maxis’ postpaid ~.\J~tomers Clre partpf familyJype plans witha. pJiocipal line .and supplementary lines, and Maxis also has internationally connected customers who are extensive users of roaming and 100 services. While historically Maxis had more prepaid subscribers than postpaid subscribers, largely due to the difference in pricing of voice services over the 3 years ended 31 December 2008, there has been increasing migration by customers from using prepaid services to postpaid services. Currently, a large proportion of Maxis’ postpaid customer base consists of individuals SUbscribing for mobile services principally for personal use. HOTLiNK customers are individuals, primarily comprising individuals from the urban and youth segments. In general, the majority of Maxis’ customers are in the more affluent regions of Peninsular Malaysia, including the Klang Valley (which includes Kuala Lumpur). Selangor, Penang and Johor Bahru. , Company No. 867573-A 7. BUSINESS OVERVIEW (cont’d) Maxis intends to continue to focus on supporting long-term customer relationships with its customers belonging to the higher-spending postpaid category, and to support ARPU levels through growth in data services by increasing its cross-selling of advanced data services. Maxis also plans to grow its mobile business in the following areas; • the youth segment (below the age of 25), which Maxis believes will be early adopters of technology and data usage;
• mobile data services such as mobile internet, music downloads, games, sports and caller ringtones, which are increasingly popular;
• the SME segment, where Maxis has seen 31.1% subscriber growth between 2007 and 2008;
• the corporate segment, where Maxis services large corporates and the government sector. This segment has €xperienced 24.1 % subscriber growth between 2007 and 2008; and
• East Malaysia and East Coast of Peninsular Malaysia, where Maxis has identified East Malaysia and East Coast of Peninsular Malaysia as growth areas both in terms of its under-developed market size and Maxis’ market share.

There are no customers that individually contributed 10.0% or more of the revenue of the audited combined financial statements of the Subsidiaries for each of the last 3 years ended 31 December 2008 and for the 6 months ended 30 June 2009. 7.4.3 Revenues and tariffs Maxis’ mobile revenues are generated primarily from usage for outgoing local, long distance and international calls, recurring fees such as monthly subscription charges and access fees, interconnection charges, data transport fees, value-added and other chargeable services and connection fees. Maxis sets its own tariffs and is not subject to any regulatory price controls. Although total mobile revenues have increased since 2006, Maxis’ ARPU levels have gradually declined, in line with global industry trends. Maxis believes that the decline in ·-.1 its ARPU’·has resulted primarily from Maxis’ expansionof~its customer bas6″(including into the prepaid segment), and the reduction in tariffs in response to the competitive forces in the industry. Maxis has seen high growth in non-voice revenue, accounting for 31.1% of mobile revenues for the 6 months ended 30 June 2009. This growth was driven by Maxis’ focus on encouraging the adoption of SMS, advanced data services and wireless broadband. Non-voice revenues are particularly important in the youth segments as young users tend to send a high volume of SMS and are faster adopters of mobile data and mobile internet services. Maxis offers its mobile services to postpaid and prepaid subscribers under different plans. The key difference between plans offered to postpaid subscribers and prepaid subscribers is that postpaid plans allow usage on “account” with customers paying monthly bills, while prepaid requires customers to pay in advance into their account (known as ‘top-up’) to allow usage. 7. BUSINESS OVERVIEW (cont’d) 7.4.4 Postpaid mobile Maxis’ postpaid service is sold under the maxis brand. Maxis’ postpaid revenues are dependent on the customer’s particular rate plan and usage. On subscription, Maxis’ new customers are usually charged a refundable deposit or advanced payments (which is usually credited on their first bill), following which customers pay a monthly commitment fee for certain basic postpaid mobile services. Maxis operates under CPP whereby customers are only charged for calls made, except for inbound calls when internationally roaming. Maxis offers a variety of postpaid plans. These plans are designed to meet the needs of individuals, families and business customers. Under the Value Plus plan, customers are not bound to a set term or incur an exit penalty if they decide to terminate the plan. Maxis’ current Value Plus plan has varying levels of monthly commitments ranging from RM30 to RM500. Generally the higher the commitment, the lower domestic rates are charged for voice, video, SMS and data services. Some of the plans also have additional features such as reduced tariffs based on usage, priority customer service and international assistance when roaming. The monthly commitment provides customers an allowance equal to the value of their commitment for domestic voice and data, international voice and SMS, and voice roaming services. The plans are designed to provide a simple purchase choice for customers with flexibility as their product usage changes from month to month. To meet the needs of families, most postpaid accounts also have the ability to add a secondary (supplementary) line. Value Plus Family plans include the following features: • shared monthly commitment with the principal;
• shared call rates; and
• free volume of local voice and SMS between principal and supplementary lines up to a cap.

Maxis does not typically provide handsets directly to its customers. Maxis offers discounts on a range of handsets that are likely to increase the adoption of data or 3G services. These plans normally offer a discount on the price of the handset an~ in return ••:”’10’ •• the contract’speCifies the minimum length of time the custoiTier has to retain tne service: Penalty fees are levied for changes or cancellation of contract and minimum monthly usage commitment. Examples of such contract plan include contract plans linked to the Apple iPhone™ and RIM’s BlackberryTM devices. Maxis encourages spend and usage through the provision of the following: • added functionality through value added services such as CLIP, CLlR, voicemail, 100, international roaming, multi-line single SIM and multi-line SIM single line;
• a range of special packages called Value Extras, which offer discounts on services for an additional upfront monthly fee. For example, Extra Ten offers preferential calling rates to 10 chosen on-net numbers for an extra RM10 per month; and
• advanced data services.

7. BUSINESS OVERVIEW (cont’d) Maxis provides its enterprise customers with postpaid plans based on the consumer postpaid plans. The plans offered to enterprise customers are enhanced to meet specific enterprise customers’ needs such as free calls or SMS among employees of the organisation using Maxis mobile services, special call rates during business hours and phone subsidies depending on type of rate plans and tenure. Maxis also provides BlackBerryTM Internet Solutions and BlackBerryTM Enterprise Service supported by 2G, 3G and HSDPA technologies. The BlackBerryTM service is a single, integrated handheld solution that provides the customer access to a broad range of applications which include e-mail, phone, intranet, internet, SMS and personal information management applications operating over mobile data networks. It uses the “push” technology which automatically routes all e-mails directly to the customer’s handheld unit. 7.4.5 Prepaid mobile Maxis’ prepaid service was launched in 1999 in Peninsular Malaysia and in 2001 in East Malaysia. The service is sold under the HOTLiNK brand. In addition to voice services, HOTLiNK offers a suite of value-added services and advanced data services that are also available to Maxis’ postpaid customers. For new customers, all HOTLiNK plans require the purchase of a starter kit which may, depending on the plan, include a certain amount of airtime and is sUbject to a registration requirement as set by the Commission. Existing customers can top-up their air time through cash or electronic payment options. Cash options include top-up tickets available at all Maxis Centres and HOTLiNK authorised dealers, “Easy Top Up” (where a minimum top-up of RM3 is made directly into a Maxis customer’s SIM card at participating authorised Maxis dealers) and E-Pay Terminals (where a Maxis prepaid customer can purchase an e-voucher and top-up instantly using e-pay terminals at major departmental stores, pharmacies and petrol stations). Electronic payments can be made via the customer’s bank accounts. These include online banking (by logging on to or a participating bank’s website), ATM machines (by ATM card), SMS top-up (by registering with the customers’ preferred bank) and OnePay Terminals (available at many Petronas, Shell and BhP stations nationwide). Malaysian Electronic Payment System (1997) Sdn Bhd ATM cards can also be used. Maxis primarily offers 2 types of prepaid plan, with different validity periods. Maxis offers pay-and~go pJ.~ns under which. the customers can us~ t!1E:l.wepaid service~.within a. specified period of time after which they have to top-up forfu’rther usage. The pay-and­go plans are customised to cater to the requirements of different market segments. For instance, customers in Peninsular Malaysia are offered HOTLiNK Extra and HOTLiNK Basic plans targeted at short duration callers while Indonesian foreign workers in Malaysia are offered HOTLiNK Simpati which offers preferred 100 rates to Indonesia. In addition to pay-and-go plans, Maxis offers prepaid plans with extended lifetime where the validity period for usage is not determined by the top-up value. These plans usually have prespecified length of validity period which will be valid so long as certain conditions are met. For example, HOTLiNK Youth Club provides a 4-year validity period upon registration, subject to a minimum top-up of RM10 for every 12 months. Currently, such long validity plans in the market are HOTLiNK 365 (Which has an East Malaysia variant) and HOTLiNK Youth Club which is targeted at customers below 25 years of age. 7. BUSINESS OVERVIEW (cont’d) Other than the validity period, prepaid plans generally differ in terms of domestic voice, video, SMS rates and call blocks while some have additional features in terms of tariff adjustments. Similar to the postpaid plans, additional bundles can be purchased under Supersavers which are designed to stimulate off-peak voice and data usage or predetermined international usage. Most prepaid plans have the ability to have preferential rates to connect up to 10 other HOTLiNK subscribers and this is known as Activ10. Like postpaid plans, prepaid plans also have access to a range of value-added services, including roaming. A prepaid customer must register the customer’s prepaid number after purchasing a prepaid starter kit before the customer can start using the mobile service. Customers can register using MyKad (which enables instant registration) or by completing forms that are available in the starter kits, which are to be submitted to Maxis Centres. Activation will be carried out within 24 hours upon receipt of completed forms by Maxis Centres. A website for prepaid users ( with entertainment and lifestyle news and games is used to announce service enhancements and promotions. 7.4.6 Mobile data As part of its strategy to diversify its revenue base, Maxis plans to increasingly focus on providing mobile data applications and content in line with market demand and current technology to differentiated customer segments. To support this strategy, Maxis is building strategic partnerships with selected content solution providers, device manufacturers and technology partners who can add value to current and future data initiatives and develop additional content distribution channels. Maxis’ existing initiatives in mobile data and multimedia are focused primarily on mobile internet, music, non peer-to-peer messaging, MMS, location-based services and m­commerce. • Mobile internet. Maxis is focused on enhancing the ease of access to key search engines, internet and social networking sites and establishing strategic partnerships with companies like Friendster and Yahoo. During the month of June 2009, 4.6 million of Maxis’ subscribers had accessed the internet on their mobile devices. Going fpJWard, Maxis is plCinning several initiatives to f~lrther enhance ang.simplify access’and personalise the portal experience of its customers.
• Music. Maxis has grown this data service through building an integrated music portal which it continues to improve on, working closely with music labels and providing customer education on its music services. During the month of June 2009, 4.7 million of Maxis’ subscribers had used ringbacktone services by Maxis. Maxis is working towards enabling the distribution of user generated content and enhancing the features to enable better personalisation of the customers’ music selection and experience.
• Non peer-fa-peer messaging. Maxis has increased the use of non peer-to-peer SMSs through the promotion of application-to-peer messaging traffic, particularly for on-demand information for sports, news and entertainment, interactive shows such as Akademi Fantasia and Malaysian Idol, and quizzes and contests.
• MMS. Maxis continues to promote the usage of MMS through interactive campaigns, proactively enabling MMS devices with the required setting, and developing a complete suite of services to support the use of MMS, such as remote storage and photo printing. During the month of June 2009, 1.8 million of Maxis’ subscribers had used MMS.

85 7. BUSINESS OVERVIEW (cont’d) • Location-based services. As at 30 June 2009, 3.1 million subscribers had used Maxis’ Friend Finder and Family Finder services since its launch in 2004. These services enable a Maxis subscriber to locate another Maxis subscriber within coverage areas in Malaysia. Maxis intends to continue to expand its location-based services into directory and listing services.
• M-commerce. Maxis has developed a range of m-commerce and m-payment services, including several leading initiatives such as commercial NFC services (together with Visa, Maybank, Touch ‘N Go and Nokia), instant mobile-to-mobile remittances and airtime sharing programmes across multiple countries.

These data initiatives have contributed to the increase in the usage of 3G services to over 2.9 million 3G devices as at 30 June 2009, with 2.3 million customers actively using 3G services (excluding subscribers of wireless broadband services). 7.4.7 Broadband services Maxis offers wireless broadband services to its COnSumer and enterprise customers. In September 2006, Maxis commenced providing ConSumer broadband services in Malaysia, and launched wireless consumer broadband services using HSDPA modems for desktop personal computers in residential homes. HSDPA technology provides superior speeds for data and video services, as well as operating efficiencies, using the same spectrum and infrastructure for voice and data on an IP-based platform. This service runs on Maxis’ existing 3G/HSDPA networks and is currently available in the Klang Valley, Penang, Johor Bahru, lpoh, Melaka, Seremban, Alor Setar, Kuantan, Batu Pahat, Kulim, Sungai Petani and Kuala Terengganu. Despite the competitive environment, Maxis continues to attract customers to subscribe for its broadband services by offering attractive promotions such as proViding additional savings to Maxis mobile postpaid customers and customers who pay via direct debit when they sign up for the broadband packages. These services are offered together with other mobile services to provide customers with a broad range of communications solutions. Maxis intends to offer integrated broadband services to its customers in the future. 7.4.8 Roaming services Maxis has roaming arrangements with operators in other countries under which the other operators allow Maxis’ mobile customers to use their respectiwe.foreign networks while in the relevant country in return for reciprocal use of Maxis’ network in Malaysia. Maxis offers a wide range of roaming destinations and currently has roaming for voice and data services with more than 455 mobile operators in over 180 countries and 3G coverage in 60 countries. As at 30 June 2009, 1.0 million, or 34.5%, of Maxis’ postpaid mobile subscriptions had activated their roaming capability. Call charges while roaming internationally are those imposed by the operator in the country the customer is calling from, pius a roaming surcharge. Callers to the roaming customer pay the local, national or 100 rate for making calls from the caller’s location. Roaming customers are charged for the routing of a call from Malaysia to the country where they are receiving the call. As at 30 June 2009, HOTLiNK customers can make and receive calls in over 180 countries when their balance is over RM10. In 15 countries, HOTLiNK customers have automatic roaming service which allows direct outbound calls. In the remaining countries, outbound calls by a Maxis prepaid customer use international call back. 7. BUSINESS OVERVIEW (cont’d) 7.5 Fixed line services Maxis has operated a fixed telecommunications network in Malaysia since January 1996. Its fixed line services comprise a full suite of voice services, data services, VSAT services and IP and managed services to consumers and business customers. The following table sets out selected financial and operating information about Maxis’ fixed line services for the periods indicated. For the year ended For the 6 months ended 31 December 30 June 2006 2007 2008 2008 2009,——–‘­(RM million) Fixed line services revenue 170.5 204.4 203.7 95.5 103.7 Voice 101.0 91.6 73.6 40.2 36.1 Data 50.1 52.7 66.9 33.6 32.9 VSAT 16.6 19.6 24.5 10.5 14.9 IP and managed services 2.8 40.5 38.7 11.2 19.8 Total fixed line services revenue 170.5 204.4 203.7 95.5 103.7 Asatorfortheyearended 31 Asatorforthe 6 months December ended 30 June 2006 2007 2008 2008 2009 Selected operating data Number of POTS 31,100 29,644 29,001 29,307 28,429 Business POTS average revenue per line (RM) 95 8978 83 74 Residential POTS average revenue per line (RM) 67 5850 53 46 Leased lines(1) 13,693 16,334 16,674 15,384 17,535 VSAT terminals 1,104 1,610 2,049 1,821 2,199 ISP lines  xDSL lines  2,258  6,333  8,055  7,490  8,388  DIA lines (1)  1,816  1,535  2,017  2,000  2,119
. -:,”\’,..,- , , •… ?,…..Note: (I) Leased line and DIA trunks with bandwidth 2mbps and below are converted to 64kbps eqUivalent circuits, and no conversion is done for bandwidth above 2mbps.

7.5.1 Voice setvices Voice services refer to local, domestic long distance and 100, ISDN and single PSTN line services provided by Maxis to its business and residential customers. Revenue from voice services consists of airtime usage, monthly access fees, interconnect revenues and connection fees, 7. BUSINESS OVERVIEW (cont’d) 7.5.2 Data services Maxis offers a range of services under its data services offering, including DIA, a secured internet access service using a dedicated leased line connectivity to the internet gateway which is targeted at large and medium businesses which require high speed connections. Maxis also offers HSIA broadband connection services, which are provided through xDSL, using Maxis’ copper telephone lines. Maxis’ HSIA services currently include ADSL to residential customers, SDSL and ADSL2+ access to suit various commercial requirements. DPLC, IPLC and Metro-E services are offered to large and medium businesses which require point-to-point connection between their offices. 7.5.3 VSAT services Maxis offers satellite-based multimedia services including voice, data, digital video broadcast and IP services over MEASAT satellites. Maxis is among the leading VSAT providers in Malaysia with more than 2,000 VSAT terminals nationwide as at 30 June 2009. Its customers are primarily in the retail oil and gas industries as well as timber and plantations sectors and the programmes by the Government for rural libraries, clinics and security agencies. 7.5.4 IP and managed services IP services refer to IP platforms or network architecture such as MPLS. Managed services relate to the design, supply, commission and management of network and communication services (voice, video and data) of large businesses. Maxis started offering IP MPLS products and managed services to business customers in October 2006. The revenues from these services grew significantly from RM2.8 million for the year ended 31 December 2006 to RM38.7 million for the year ended 31 December 2008, primarily through the delivery of managed services by Maxis to the corporate and government sectors. Maxis continues to pursue large managed services projects, targeting government bodies and corporate customers. In the second half of 2009, Maxis entered into an agreement with MEASAT Broadcast Network Systems (a subsidiary of ASTRO) to design, supply, commission and manage ASTRO’s network infrastructure in Malaysia over the next 5 years. .:”‘-….. 7.6 International gateway services Maxis’ international gateway services comprise services to international telecommunications carriers for termination of traffic into Malaysia, services to send Maxis’ own international traffic abroad and bandwidth leasing services. The international gateway services were set up to support the mobile and fixed line services for outbound and inbound traffic. Additionally, Maxis also engages in the trading of international voice wholesale (hubbing) minutes. Wholesale hubbing business combines organic and hubbing traffic to derive cost advantages in settlement rates, to allow for competitive 100 rates to be provided to Maxis’ customers as well as for securing higher volume of inbound Malaysian terminating traffic. As at 30 June 2009, Maxis had bilateral connections with 95 carriers in 38 countries and has capital investments in a number of submarine cable systems to carry its international voice and data traffic. 7. BUSINESS OVERVIEW (cont’d) The following table sets out selected financial and operating information about Maxis’ international gateway services for the periods indicated. For the 6 months ended For the year ended 31 December 30 June 2006  2007  2008  2008  2009  –“7(a-u”””‘d;;’it:”:ed’:7-)  (audited)  (unaudited)(audited)  (audited)  (RM million)
Financial information Revenue 251.4 312.2 380.0 156.1 224.6 For the 6 months ended For the year ended 31 December 30 June ____2~0~0~6 2007 2008 2008 2009 ——-‘-­(unaudited) (million) Selected operating data Total minutes(1) 1,624.2 2,074.5 2,549.0 1,169.5 1,313.4 Note: (1) Total minutes comprise incoming, outgoing and hubbing minutes. International tariffs Maxis derives revenue through settlements from international telecommunications carriers for the termination of calls to Maxis customers in Malaysia. In turn, when Maxis customers in Malaysia make IDD calls, Maxis is billed by its overseas counterparts a termination cost for the use of their facilities. Accounting rates and settlement procedures are agreed bilaterally between international telecommunications carriers for this purpose. Hubbing operations from the international gateway services allow Maxis to aggregate minutes from other carriers in order to derive cost advantages in settlement rates, to allow for competitive IDD rates to be provided to Maxis customers as well as for securing higher volume of inbound Malaysian terminating traffic. 7.7 Distribution, sales and marketing Maxis’ distribution, sales and marketing activities are aimed at retaining and servicing its existing customer base and acquiring new customers in Malaysia. Distribution Maxis reaches out to its postpaid customers through a combination of 29 Maxis Centres nationwide and through 198 exclusive partnership with dealers. These also service the prepaid customers. HOTLiNK prepaid products (including prepaid starter packs and top-up tickets) are distributed through 7 distributors to the dealer channels and are also sold at retail outlets, Maxis Centres and selected ATMs. No single distributor or dealer accounted for more than 10.0% of Maxis’ total revenues for the year ended 31 December 2008 or the 6 months ended 30 June 2009. As at 30 June 2009, Maxis’ distribution network comprises 21,000 points of sale (excluding internet access points) of which over 12,000 are physical retail locations. Dealers receive commissions on subscriptions sold, which is in line with industry practice. Maxis rewards its dealers with bonuses and awards during consumer promotions and campaigns. Maxis’ policy is to be transparent and consistent in its treatment and communications with them. Technical and customer care training are also offered to dealers and their staff to improve service and productivity. 7. BUSINESS OVERVIEW (cont’d) Maxis’ distribution strategy for the business segment includes in-house direct sales teams supported by a nationwide network of appointed specialised channel resellers. Dedicated account managers are deployed for selected large corporations, while Maxis works closely with channel resellers to serve the SME segment. As part of its strategy to extend and improve its reach to underserved and niche segments in Malaysia, Maxis entered into a reseller agreement with Next Telecommunications Sdn Bhd (UNexteIU) on 31 July 2009 (UNextel Reseller Agreement”) pursuant to which it agreed to provide network capacity, together with associated services, to Nextel to enable Nextel to provide prepaid mobile services under the ‘OKtel’ brand, using Maxis’ digital network. The Nextel Reseller Agreement is effective for 3 years and is extendable for another 2 years subject to certain terms and conditions. Advertising andpromotion Maxis advertises on television and the radio, outdoor billboards, in selected magazines and newspapers and online. Maxis also utilises promotional materials including posters, signs and point of purchase advertising, to highlight a particular promotional tariff plan or other products. Maxis’ strategy is to focus on quality rather than quantity advertising by selecting appropriate media and ensuring that the content of the message is effective and consistent with the maxis and HOTLiNK brand images. As such, in addition to using mainstream media, events and ground-level activities are also capitalised on and tailored to engage Maxis’ relevant target segments. For the 3 years ended 31 December 2008 and the 6 months ended 30 June 2009, 4.7%,4.2%,4.7% and 4.6%, respectively, of Maxis’ total revenue was spent on advertising and marketing. Maxis’ track record of bringing innovation and creativity to its advertising and promotion campaigns has won many accolades over the years, including a 4th ranking in Malaysia’s Most Valuable Brands 2009 by Brand Finance and the Silver award for Malaysian Effie Awards 2008 by Malaysian Advertisers Association, Association of Accredited Advertising Agents and Media Specialists Association (see Section 7.17 of this Prospectus). Customer churn andretention programmes Customer chum Churn can either be voluntary (by choice of the customers) or involuntary (as a result of non­payment or fraud). Maxis closely monitors churn and seeks to reduce voluntary churn levels by continuously improving network quality and service and through loyalty programmes. 7. BUSINESS OVERVIEW (cont’d) Maxis continuously monitors postpaid customer spending and payment information to minimise fraud and bad debts. Prior to registration, new postpaid customers are verified for credit quality against Maxis’ internal database. Maxis also conducts a check against a customer credit database operated by a number of Malaysian operators and to which Maxis contributes. In addition, Maxis’ staff randomly call a new customer’s fixed line number to validate the customer’s identity. Each customer is given a credit limit initially based on the customer’s credit-worthiness and the rate plan subscribed for, and thereafter the limit is dependent on spending and payment history. A process of reminders through notices and voice mail or SMS is triggered when a customer is about to exceed the credit limit or when payment is due. If a customer fails to make payment when due, Maxis will suspend his ability to make outgoing calls after 35 days from the date payment is due but will still allow incoming calls to be received. A postpaid customer is disconnected if his bill remains unpaid for 150 days after payment is due. Upon disconnection, Maxis applies any outstanding deposit or advance payment to any outstanding balance and a reconnection fee and new deposit, where applicable, are payable to restore service. Prepaid customers are unable to make calls once they have completely utilised their airtime. Their service becomes inactive if they do not top-up their account within a certain number of days, depending on their plan and most recent top-up amount. Some plans will remain active for between 1 and 4 years, SUbject to a minimum top-up. Prepaid customers are disconnected permanently if they have not topped up for 90 days after becoming inactive. Maxis retains the f1f;’xibility to modify its susp~nsion and disconnp.ction policies to manage crp.dit exposure and to adapt to market changes. Retention programmes Maxis One Club is a tiered postpaid loyalty programme designed to provide member customers with a sense of privilege and recognition in being with Maxis. Maxis One Club membership is by invitation only and is based on customers’ spending level, tenure and credit history. It offers eligible Maxis customers tangible benefits such as free or subsidised handsets, special broadband and advanced data services bundles, merchant offers, invitations to special events as well as concierge and priority services. Maxis typically does not offer handset subsidies. However, Maxis occasionally has promotions that allow its customers to purchase the handsets of their choice with a limited discount associated with fixed term contracts. This is designed to reward and retain postpaid customers and at the same time encourage mobile device upgrades, thereby enabling the adoption of services beyond basic voice services and SMS. Maxis’ postpaid customers will be targeted, and customised programmes are developed and offered to them on a regular basis to reward their loyalty to Maxis. HOTLiNK Rewards is the loyalty programme for Maxis’ prepaid customers. It is a point collection and redemption programme designed to reward the value-seeking prepaid segment. Apart from direct redemption of bonus talk time or SMS, the points programme offers redemption of mobile contents, promotional lifestyle-related benefits and aspirational contest programmes. Through a customer lifecycle management process, prepaid customers are directly engaged in an organised and segmented manner where usage and behaviour profiles are utilised to create relevant offers and rewards. In addition, Maxis offers its Malaysian postpaid customers and their children an undergraduate scholarship through the Maxis Scholarship for Excellence Undergraduate Programme. Each year, Maxis awards up to 40 scholarships under this programme. 7. BUSINESS OVERVIEW (cont’d) Website Maxis’ website ( was launched in August 1999. The website is used to support the image of the maxis brand and to communicate with customers as an interactive one­stop portal. Among other things, Maxis customers can use the website to pay their bills online, unlock their SIM cards, change their tariff plans, sign up for value-added services and purchase caller ringtones. Customers of other network providers can also use the online portal to switch to Maxis while retaining their existing mobile numbers. The website has been extended to include HOTLiNK, Youth Club and music services. 7.8 Customer service Maxis believes that customer service, from sign-up through after-sale service, is critical to customer retention and brand maintenance. Maxis’ customer service focuses on prOViding better customer management, easier access to Maxis support and services, expanding payment channels and differentiating Maxis from its competitors. Maxis aims to build long-term relationships with its customers by providing expert assistance to its customers in a variety of customer service channels where Maxis customers can explore, test products and compare, .·,learn,.and derive m()re vah,leout of Maxis’ se’yices and offerings. Maxis’ staff are available at .these customer service channels to provide hands on technical support and advice. Maxis’ principal customer service channels and initiatives are: • Maxis Centres. Maxis’ 29 Maxis Centres are located in major cities across Malaysia and offer a complete range of standard customer services and are equipped with on line payment and registration facilities. Maxis Centres provide a range of facilities focused on the customers’ convenience including priority services counters, VIP rooms, self-service kiosks and ATM top-up kiosks. Maxis’ 5 largest Maxis Centres are located in Kuala Lumpur, Johor Bahru and Penang;
• MEPs. Maxis currently has 198 selected MEPs appointed as authorised service agents to complement Maxis Centres and provide customer services such as registration and payment facilities and account enquiries;
• Maxis Contact Centres. Maxis operates 3 contact centres which are available 24 hours a day, all year round to handle customers’ enquiries, requests, feedback and complaints;
• Maxis e-customer services. Maxis customers can use e-customer services 24 hours a day, all year round by accessing Maxis’ website where they can check their accounts, update their billing and personal information, subscribe to new services and make bill payments;
• Maxis Interactive Automated Response system. Maxis also provides 24 hours a day, all year round self-service alternatives for its customers to dial-in to obtain account and billing information and to pay their bills by phone, request for bill statements, request for pin unlock codes and request for enabling or disabling mobile internet and picture messaging phone setting; and

• *100#. Customers can request for value-added services, account and current promotion information by dialing “*100#” on their mobiles. Apart from the customer service channels above, Maxis also facilitates payments of bills by accepting payments through post offices, selected bank branches and ATMs, selected banks’ internet payment portals, telephone, direct debit, internet payment kiosks and other facilities that complement Maxis’ own payment network. 7. BUSINESS OVERVIEW (cont’d) Maxis’ customer management service system consolidates customer information and captures all interactions with customers. This integrated information system centralises information on customers and makes such information available to Maxis customer service agents nationwide, which provides them with a valuable tool for improved responsiveness to customer needs. Key enterprise customers are serviced directly by account managers and account servicing executives within the business segment. There is also an extensive network of appointed specialised channel resellers dedicated to support and service Maxis’ SME customers. All enterprise customers also have access to customer service resources through telephone hotlines and web-enabled facilities. The account management team deploys an account management methodology which includes overall account relationship management, account profiling, opportunity identification and pipeline management. Maxis operates on a number of key performance indicators (“KPls”) such as overall service level, customer satisfaction index, first call resolution, processing time and case resolution time, which are tracked systematically. Maxis is also transforming its customer relationship management system to ensure that customers are given the appropriate and relevant treatment which will be consistent at all .,.customer-facing .channels Maxis regularly. reviews its IT and contrnl systems through.<I business continuity programme to review the risks associated with system failure and to determine appropriate measures to minimise these risks (see Section 7.10.2 of this Prospectus). This will enable those at the frontline to provide prompt service advice to customers that will improve their experience with Maxis. 7.9 Network infrastructure 7.9.1 Background Maxis’ network infrastructure comprises the mobile network, the fixed network which in turn comprises the transmission network and the metropolitan area network, and the international network which comprises the international gateway and submarine cable infrastructure and the IP network. 7.9.2 Mobile network Maxis’ mobile network operates on GSM and W-CDMA, the most widely-used 2G and 3G digital communications technologies. The 2G network has been upgraded to support packet technologies such as GPRS and EDGE, while the 3G network has both the latest HSDPA and HSUPA technologies to support the high data demand. See Section 7.23 of this Prospectus. In respect of the modernisation of the core network, there will be 8 mobile softswitch servers and 10 mobile media gateways upon completion of the exercise. As at 1 October 2009, Maxis’ GSM Network comprised 6,268 2G base stations covering 92.0% of the population in Malaysia, while EDGE service covered 67.4% of the population. Maxis had 2,481 EDGE-enabled 2G base stations to offer higher data speeds than GSM. 3G services were launched in the Klang Valley in April 2005, Penang in December 2005, and Johor Bahru in April 2006. As at 1 October 2009, Maxis had 3,145 3G base stations (most of them co-located with 2G base stations), covering 57.5% of the population of Malaysia. Wireless broadband service using HSDPA was launched in September 2006. As at 1 October 2009, the wireless broadband network covered 52.2% of the population in Malaysia and comprised 1,931 3G base stations upgraded for HSDPA. 7. BUSINESS OVERVIEW (cont’d) As at 1 October 2009, Maxis’ mobile network had 33 MSCs, which include gateway MSCs and 10 HLRs. In May 2008, Maxis commenced a major modernisation of its core and radio networks with Huawei’s RAN infrastructure for the Klang Valley area and Ericsson’s RAN infrastructure in other regions. In Malaysia, Maxis operates a nationwide GSM Network and a W-CDMA network. The GSM Network licences do not impose on Maxis any roll-out or minimum geographic or population coverage obligations. However, the 3G spectrum assignment granted to UMTS in 2003 imposes on UMTS yearly minimum geographic and population coverage obligations. As a result of delays in 2005 and 2008 in the roll-out of its 3G network, UMTS was subject to certain penalties pursuant to the terms of the spectrum assignment. Maxis is taking steps to address possible issues such as transmission provisioning to ensure the obligations to the Commission are met. Transmission provisioning covers the process of transmission planning, physical activities at site to deploy and upgrade transmission link, and assigning the necessary capacity in the network. Maxis has taken the steps, including making changes to its organisation set-up, changing the process, and engaging its business partners and vendors to ensure supply chain effectiveness and efficiency are addressed and improved upon Maxis’ roll-out obligation for the year 2009 is 3,388 3G base station sites. As at 1 October 2009, Maxis .. hap 3, 145.3G ba!ie statio.n sites. Ma,1<i!? believes that iUs .on sch~dule to comply wi,ttl its. 2009 roll-out obligations (see Section 5.1.11 of this Prospectus). Given the rapid deployment of base station sites required to support network growth, Maxis has a significant number of base stations which have been installed on sites while pending submission to or approval from the local authorities. This is in line with common practice among mobile operators in Malaysia given the lead time generally required for the approvals. The lack of approvals has in certain cases resulted in the local authorities issuing notices and dismantling the base station sites. As at 1 October 2009, Maxis was in receipt of notifications to dismantle its base stations at 38 base station sites in the Klang Valley and Penang, out of its 6,291 base station sites nationwide. The total cost to dismantle and rebuild the base stations is estimated to be RM5.9 million. There were no fines and penalties imposed on Maxis. Maxis has submitted appeals for all 38 of these sites. The appeals are presently on going and decisions are pending. It is anticipated that dismantling of base stations will result in poor network quality in the affected locations. See Section 5.1.6 of this Prospectus. The base stations are interconnected to the regional mobile switching centres via microwave, fibre optic and VSAT links. The NSS elements in Peninsular Malaysia are distributed among Maxis’ 6 telecommunications operation centres which are in turn interconnected to its NOFN. In addition to providing voice service and related value-added services such as voicemail and SMS to its customers, the entire mobile network is also fUlly configured to deploy GPRS services which enable the facilitation of other value-added services such as MMS and mobile data service enablers including data/content and transaction servers. Maxis’ base stations are located on buildings, vacant lots or sites, the majority for which tenancies have been individually negotiated. Most of the individually-negotiated tenancies are for 3-year terms renewable at Maxis’ option for further 3-year terms up to a total of 15 years. All MSCs, save for 1 which is located at KLCC, are located on Maxis property. As at 1 October 2009, Maxis leases or shares 39.9% of the base stations that it operates with other telecommunication operators and various state-owned companies, pursuant to lease agreements or access agreements. ICompany No. 867573-A  7.  BUSINESS OVERVIEW (cont’d)
Maxis has entered into access agreements (“Access Agreements”) with other Malaysian telecommunications operators who are licensed to offer network facilities, network services or applications services within Malaysia. The Access Agreements set out bilaterally agreed terms and conditions relating to network facilities and network services that are provided by Maxis to the other telecommunications operators and vice versa, subject to the scope of each of their respective licences. The Access Agreements govern the terms and conditions to access both regulated facilities and services and non-regulated facilities and services and relating to interconnection of the network facilities of one operator with the network of another operator and the carriage of call communications across the other operator’s network. The Access Agreements are entered into subject to various determinations published by the Commission. Maxis is highly dependent on certain of these Access Agreements. See Section 7.24 of this Prospectus. Under the Access Agreements, Maxis and the other telecommunications operators provide certain services, including fixed network origination services, fixed network termination services, mobile network origination services, mobile network termination services and interconnect link services. In certain of these Access Agreements, the operators also provide network co-location services and infrastructure sharing services . to eachgther. 8s part of its ne!v.'()rk co-location services, an operator provides space at its premises to enable the other operator to install and maintain its own equipmemt necessary for the provision of such other operator’s services through the facilities and services of the operator. Network co-location services include providing physical space, power, environmental services (such as light, ventilation and air-conditioning), security, site maintenance, and access for the personnel of the other operator. Infrastructure sharing services, on the other hand, consists of the provision of cabin space, floor space, tower space, and land space at specified towers, sites and associated tower sites to enable an operator to install and maintain its equipment. Pursuant to Determination No. 1 of 2009 and a letter issued by the Commission effective 2 February 2009, operators were required to enter into new access agreements with other operators in Malaysia by September 2009. The Commission has on 30 September 2009 granted an extension of time to Maxis and other operators to enter into new access agreements by 30 November 2009. EXisting access agreements between operators will continue to remain in effect between the operators who are parties to the access agreement until the registration of the new access agreements with the Commission. The following table sets out the number of MSCs and base station sites operated by Maxis as at the dates indicated: As at 31 December  As at 1 October  __.::.20:..:0c:..6  2007  2008 —­ 2009  MSCs  31  33  33  33  Total base station sites  ..  4,913  5,643  6,027  6,291  2G base station sites  ..  4,900  5,617  5,972  6,268  3G base station sites(11  .  1,463  2,265  2,325  3,145  Note:
(l) Most 3G base stations are co-located with 2G base stations on the same site. 7. BUSINESS OVERVIEW (cont’d) In June 2008, one of Maxis’ MSCs in Kota Kinabalu, Sabah in East Malaysia malfunctioned, resulting in a state-wide service disruption which lasted for 1 day, and partial service disruptions which lasted for 3 days, as a result of technical difficulties. To prevent the recurrence of such an event, Maxis has changed the configuration settings of all the MSCs and reinforced the manual business continuity process so that mobile traffic can be redirected more quickly to another MSC. In addition, Maxis is currently in the process of replacing its mobile switching infrastructure with Huawei softswitches. See Section 5.1.4 of this Prospectus. Maxis commenced the roll-out of its 3G network using Ericsson and Siemens infrastructure in selected areas in the last quarter of 2004. Commencing in May 2008, this was swapped with Huawei’s RAN infrastructure for the Klang Valley area and with Ericsson’s RAN infrastructure for all other regions. Maxis expects that these swaps will be completed by the end of 2009. As at 1 October 2009, the 3G network had 3,145 base stations in service, covering the Klang Valley as well as other cities such as Penang, Johor Bahru, Langkawi, Alor Star, Kangar, Ipoh, Sungai Petani, Melaka, Kota Bharu, Kuala Terengganu, Kota Kinabalu, Kuching, Miri and Kuantan. Maxis measures the technical performance of its service against internal and external benchmarks. Internal benchmarks. include the number of (i) calls made, (ii) calls that are involuntarily terminated, (iii) calls that are not completed because access to the network is unavailable, and (iv) completed calls, as well as signal strength and network performance in processing and transmitting SMS between Maxis customers. External benchmarks include testing and surveys performed by the Commission, Maxis’ own tests against its competitors’ networks and customer surveys. Maxis monitors network quality and performance on a daily basis to enhance the effectiveness of network operations and quickly identify impending network problems. Maxis regularly compares its call quality to the call quality of other networks in Malaysia along major routes and high traffic areas. Maxis seeks to improve its network performance in these areas and believes that network expansion will further improve the coverage and capacity of the network. 7.9.3 Fixed line network Maxis’ fixed line network supports the provIsion of integrated broadband services including the transmission of voice, data and video. Maxis’ fixed line network comprises both the transmission network (including its long distance NOFN) and a local access and metropolitan area network (concentrated in the Klang Valley). The fixed line network also serves to interconnect all telecommunications operation centres in Peninsular Malaysia. The transmission network is the backbone of the Maxis network and comprises a combination of fibre, satellite and microwave infrastructure, fixed wireless access, MPLS and Metro-E connecting the mobile, local access, international and IP networks. The core transmission network is configured as fully redundant. The MPLS was designed to cater to 40Gbps traffic and is primarily supporting the access network and mobile network. Metro-E is concentrated in the Klang Valley with a capacity of 10Gbps and serves the last mile access network. Maxis uses VSAT infrastructure, which utilises MEASAT satellites and 2 earth stations as part of the transmission network which provides bandwidth of 78Mbps (47Mbps for GSM and 31 Mbps for corporate data). Maxis uses digital microwave transmission to link the various geographically separated components of the system. As capacity requirements increased, microwave links have either been supplemented or replaced, or both, by local access and fibre optics and Maxis’ NOFN. 96 7. BUSINESS OVERVIEW (cont’d) The NOFN was constructed to further complement the existing transmission network and also to provide increased resiliency, reliability and transmission quality to the network, in particular for the inter-office connections. The NOFN is fully redundant and spans along the West Coast of Peninsular Malaysia from the north in Arau, Perlis to Johor Bahru in the south (connecting to Singapore) and back north to Kuantan along the East Coast of Peninsular Malaysia before cutting across from Kuantan to Kuala Lumpur. All primary routes for the NOFN are owned and operated by Maxis except for the diverse routes from Kuala Lumpur to Penang (running along a separate route along the West Coast), the “return” section from Kuantan to Kuala Lumpur and the Kuantan to Cherating section of the network, which are leased. In conjunction with the NOFN, Maxis also has an extensive fibre optic network in the Klang Valley which provides interconnecting routes for the telecommunications operation centres in the central region of Peninsular Malaysia and also connectivity to 280 commercial buildings as at 30 June 2009. Maxis’ mobile and fixed line businesses operate on the basis of integrated infrastructure, including microwave and fibre links. For example, when property developments are connected to the Maxis broadband network, GSM microcells within a building can also be connected directly to the fibre network thereby reducing deoloyment costs. Maxis has also reduced deployment costs through integration of its businesses. 7.9.4 International gateway network The international gateway network comprises 2 international gateway switches, direct data connections to Thailand and Singapore and submarine cable infrastructure. The international gateway switches are connected to Maxis’ NOFN and then to TM’s cross connect facilities at their 3 submarine cable landing stations for onward connectivity to Maxis’ own submarine cable infrastructure, which allows Maxis to connect to other international operators. Maxis’ capital investment in submarine cable infrastructure consists of SEA-ME-WE-3 (Southeast Asia, Middle East and Western Europe Cable 3), APCN (Asia Pacific Cable Network), APCN-2 (Asia Pacific Cable Network 2), Japan-U.S. (Japan-United States) and TPC-5 (Trans Pacific Cable 5) submarine cable systems. Maxis also has submarine cable capacity in the FLAG (Fibre-Optic Link Around The Globe), C2C (City to City) Cable Network, DMCS (Dumai-Melaka Cable System) and EAC (East Asia Crossing) systems. 7.9.5 Network management centre A key component of Maxis’ network service support is Maxis’ centralised network management centre which was established in mid-1995 and operates 24 hours a day, throughout the year. The network management centre manages the entire Maxis network. The operations of the network management centre are modelled on the global standards stipulated by the ITU and has received ISO 9002 accreditation. 7.9.6 Interconnection To enable users to call and receive calls from outside the Maxis network, Maxis interconnects with all other operators in Malaysia and with international operators through its international gateway. 7. BUSINESS OVERVIEW (cont’d) Payments between Malaysian operators are determined according to commercially negotiated bilateral arrangements, as well as according to Commission rules and regulations on maximum rates that can be charged by operators for certain facilities and services. See Section 7.22 of this Prospectus. Other than for a very small proportion of traffic terminating in Kuantan and Terangganu to address overflow and congestion, Maxis employs “far-end handover” for its interconnection in Peninsular Malaysia. This means that Maxis will carry traffic originating from its customers as far as possible to its destination using its NOFN, before handing over the traffic to the other operator for termination. This minimises the interconnection payments to other operators for long distance traffic.
7.10 Information technology infrastructure Maxis’ IT infrastructure comprises computerised inter-related information systems to support key functions, including network operations management, billing, customer services, financial services, procurement, sales, marketing and distribution. All group functions are interconnected via the LAN with connection to the intranet and the internet. In January 2009, Maxis entered into a strategic IT partnf!r!>hip agreement with IBM, pursuant to which cert::lin functions will hp. passed to IBM. The organisational and system-level changes that will result from this partnership are set out more fully in Section 7.10.2 below. 7.10.1 Key systems Customer management. Maxis uses a Customer Management Services System (“CMSS”) to manage customer relationships. Maxis can view information about individual customers and their interactions when customers contact Maxis Customer Care centres. In 2009, Maxis upgraded its call centres with IP technology, which allows Maxis to operate a “virtual call centre” model, among its 3 physical call centres. This enables Maxis to serve customers in a standardised way and reduces call overflows from any of the centres, resulting in better customer experience. The “virtual call centre” model is expected to improve response time, operational efficiency and workforce management. Sales and distribution support Maxis’ DealerNet application enables its network of dealers to access product information and conduct basic business transactions with Maxis, such as sign-up of new customers, credit verification and promotional updates. At present, Maxis allocates numbers to prepaid SIM packs and distributes these to dealers via a conventional logistics network. Services. It is vital that Maxis’ technology enables customers to access the various services available to them in a fast and reliable manner. Maxis has implemented a Mobile Service Delivery Platform which supports services such as content hosting and WAP and WEB Portal. Self-service platforms enable customers to access Maxis’ services, either online or via their handset. Customers have dynamic access to the product catalogue using Maxis’ website and HOTLiNK platform, and can download and install new service from their handset using USSD technology. Recently, new platforms have been added to enable Maxis to offer services to users of the 3G-enabled Apple iPhone™. Billing. Maxis currently uses the Kenan billing application for postpaid (including broadband) and fixed line customers. The printing of bills is outsourced to external printers. Customers are also able to receive bills electronically via e-mail and in summarised form by SMS. Billing for broadband is electronic by default, though customers may request paper bills. 7. BUSINESS OVERVIEW (cont’d) Top-up functions. Maxis’ prepaid customers may top-up through cash or electronic payment options. See Section 7.4.5 of this Prospectus. MNP. Following the introduction of MNP, Maxis has introduced a MNP platform that enables the transfer of numbers and their registration with other mobile operators. 7.10.2 Strategic IT partnership with IBM Maxis’ strategic partnership with IBM is the key element of Maxis’ IT strategy for the next 5 years. The partnership follows a “Full Transformational” model under which the execution and delivery of the IT infrastructure is performed by IBM, while freeing up Maxis’ Information Services Division to focus on how IT can be used to further Maxis’ business objectives. The model was chosen to address the changing landscape and the new business challenges presented by the markets in Malaysia. Maxis believes that successful operators in the new landscape will be those that can create a sustainable differentiation between themselves and their competitors. The partnership will form part of a major IT­enabled business transformation over the next 2 years towards this objective. There are .3 .. key. elements to the .mndel: operation and. mail1fpl1ance (“O&M”) business transformation, and innovation. O&M The O&M process is an IT process transformation that will result in the majority of IT functions being migrated to IBM as service provider. As at 30 June 2009, 54 contracts with former suppliers of IT services have been novated or otherwise transferred to IBM with 1 contract in the process of being transferred. A further 6 contracts will not be transferred due to lack of consent from the third party service providers, but those parties have entered into alternative arrangements within the IBM partnership framework. Under the partnership arrangement, IBM will be responsible for the operation and maintenance of Maxis’ IT systems, including its upgrade and consolidation, for example of data centres, within an agreed roadmap. IBM’s remuneration will be dependent on performance, as measured by defined service levels and key performance indicators. Business transformation The business transformation is expected to result in a transformation of existing business functions, enabled by new or upgraded technology. The business aim is to make Maxis’ services more individually tailored on a per-consumer basis. The IT strategy to achieve this is convergence and increased interoperability of 5 key IT functions (as described below) over the next 2 years. The interrelation of these 5 areas is key to the model. Although they are separate functions, together they are expected to enable the business transformation objective. IBM’s remuneration for its participation in the business transformation is outcome-driven to align its interests with those of Maxis. 7. BUSINESS OVERVIEW (cont’d) The 5 key IT functions are: • Customer Relationship Management (“CRM’). CRM is a linked suite of “customer­centric” applications that is expected to improve the customer experience and bring greater operational efficiencies. Customer centricity focuses on each customer at an individual level, to deliver services relevant to each customer. This is expected to be achieved with an upgraded version of the CMSS system. The key benefit of the upgraded system is that it is expected to allow Maxis to gain increased customer insights via “behavioural segmentation” of its customers and new customer analytics. These insights are expected to enable Maxis to develop relationships with its customers and reach out to them on an individual basis. Based on customer insights, a new campaign management system is expected to enable coordinated company-wide campaigns, as well as the ability to track the success of new services, which in turn is expected to enable Maxis to improve its targeted offerings. In addition, a new credit management system will also be implemented, which incorporates new credit rating system based on customer behaviour data. •” Dealer..Sales Managf’frf”1t (“DSM’) and Dynamic Si(‘? Al!ocefion (“DSii’;J, .DSMis a new system which will replace OealerNet and is intended to also enable a new way forward for dealers leading to their greater loyalty, operational efficiency and transparency. OSM will automate many transactions which were labour intensive under OealerNet and create 2-way communications between Maxis and the dealers that OealerNet was not able to support. In addition, Maxis also makes use of the OSA system which enables numbers to be allocated to new prepaid accounts dynamically when the account is activated, rather than when the SIM pack is originally created. This assists Maxis in managing its finite resources of unused numbers, which should improve cost and operational efficiency and make Maxis less reliant on the traditional packaging and distribution network. • Service Delivery Platform (SOP). SOP will create a common delivery platform that should speed up the roll-out of new services to customers who will benefit from a personalised experience, and enable customers to use and share Maxis services from multiple devices and across multiple delivery channels. It is also expected to enable the consumer and amateur development community to create new services by utilising existing services and new Application Programming Interface. SOP is expected to simplify the registration and development processes of Maxis’ content partners. The new framework should result in a “Service Factory” model where developers and content partners are expected to simulate consumer experience to assist their development processes.
• Convergence Billing. Convergence Billing is expected to enable Maxis to bill for all services consumed across all of Maxis’ customer range, from individuals to enterprises. Convergence Billing will support existing services as well as future services. Convergence Billing should enable the provision of personalised services to customers, and allow Maxis to charge for these in a flexible and real-time manner.
• Business Analytics. Business Analytics is a cross-functional team that analyses data gathered from the customer relationship management system to form a better understanding of customer behaviour. These customer insights should enable targeted marketing and will feed into the “Service Factory” concept to provide feedback on existing services and suggest opportunities for new ones.

7. BUSINESS OVERVIEW (cont’d) Innovation The focus of innovation under the partnership is on convergence of IT functionality and on new services and business models. IBM’s “Innovation Discovery Teams” will work with Maxis and is expected to bring knowledge and new ideas from IBM’s global “Innovation Labs”. Additionally, IBM will establish an “IBM Telecommunications Centre of Excellence” in Malaysia to provide expertise to telecommunications companies in Malaysia. Maxis will be a primary beneficiary of this expertise under the terms of the partnership. 7.11 Licences and intellectual property
7.11.1 Licences Under the CMA, the ownership or provision of any network facilities, the provision of any network services, the provision of any applications services, or the provision of any content applications services requires a licence. l;or.,.purposes.oLits… business, Maxis holds Iic~nces granted.. under. the CMA .and a Services-Based Operator (Individual) licence granted by the Infocomm Development Authority of Singapore, the salient terms of which are set out in Section 7.22 of this Prospectus. Please refer to Annex A for list of licences.
7.11.2 Intellectual property Maxis and MCB rely on a combination of trademark, servicemark and domain name registrations, common law copyright protection and contractual restrictions to establish and protect their brand names and logos, marketing designs and internet domain names. • The maxis and HOTLiNK logos are set out below. ~


maxis. ~I(<‘ Trademarks and servicemarks registered under MCB are used in Malaysia by Maxis under a perpetual, royalty-free licence granted by MCB. • Trademarks and servicemarks: (i) maxis with device and maxis with other word(s) with or without device have been registered in Malaysia as trademarks mainly for goods classified under Class 9 (products related to telecommunications, telephones, answering machines, pagers), Class 16 (papers, letter pads, envelopes, writing papers, labels, handbooks, manuals, notebooks, pictures, printed matters and announcement cards), Class 41 (education; providing of training; entertainment; sporting and cultural activities) and as servicemark in respect of services classified under Class 38 (telecommunications). 7. BUSINESS OVERVIEW (cont’d) (ii) HOTLiNK has been registered as a trademark for goods classified under Class 9 (products related to telecommunications, telephones, answering machines, pagers), Class 16 (papers, letter pads, envelopes, writing papers, labels, handbooks, manuals, notebooks, pictures, printed matters and announcement cards), Class 18 (backpacks, shopping bags etc), Class 25 (hats, headbands (clothing), headgears for wear, t-shirts, scarves etc), Class 41 (education; providing of training; entertainment; sporting and cultural activities) in Malaysia and as servicemark in respect of services classified under Class 38 (telecommunications). maxisbroadband has also been registered in Malaysia as trademarks in Classes 9 and 16 and as servicemarks under Classes 38 and 41. Applications to register maxis, maxis with device and maxis with other word(s) with or without device and HOTLiNK and HOTLiNK with other word(s) with or without device under various other classes for goods and servicemarks in Malaysia are at various stages of consideration for registration in Malaysia. • Copyrights. Maxis’ copyrights relate principally to certain designs used in
“marketiogJiod ,advertising its mobile communi~ations aJl<tenhanced services in Malaysia.
• Domain names. Maxis uses a number of internet domain names, the most significant of which are “” and “”. Other active sites are “”, “” and “”.

7.12 Suppliers Operating expenditure None of Maxis’ suppliers has contributed more than 10% of its total operating expenses for the 3 years ended 31 December 2008 and for the 6 months ended 30 June 2009. Capital expenditure Generally, the telecommunications industry in Malaysia is dependent on imports for the majority of its network components as most of the network equipment cannot be sourced domestically. Maxis’ networks utilise standard equipment which is available from a limited number of suppliers. Most of the GSM 2G radio equipment for Maxis’ mobile network operations is purchased from Motorola, Nokia Siemens Network and Ericsson, and Maxis maintains close working relationships with its other key network equipment suppliers. Motorola, Nokia Siemens Network and Ericsson have been suppliers to Maxis for approximately 13, 10 and 5 years respectively. Most W-CDMA equipment is purchased from Huawei and Ericsson. Maxis has also been purchasing certain network components manufactured by various other key suppliers, including Alcatel Lucent and Cisco for the past 5 and 13 years, respectively. Maxis has been dealing with substantially the same group of suppliers since commencement of operations in 1995, save for Huawei, which was introduced as a key supplier of 3G equipment in 2008. For the year ended 31 December 2008 and for the 6 months ended 30 June 2009, the 3 key suppliers, Ericsson, Huawei and Nokia Siemens Network each accounted for more than 10% of purchases based on purchase orders issued. Maxis believes that comparable equipment and support are available from other established suppliers and hence is not dependent on any of these suppliers. However, Maxis would incur additional cost as a result of sWitching its network equipment supplier. 7. BUSINESS OVERVIEW (cont’d) General work and services For operational and cost effectiveness reasons, Maxis is considering proposals to consolidate in favour of a smaller number of contractors the majority of work and services currently performed by more than 60 different contractors for Maxis in relation to, among others, civil, mechanical and electrical works, general construction work and maintenance, and other miscellaneous services. Over time, Maxis intends for the majority of such work and services to be performed by less than 10 vendors. 7.13 Competition Mobile services The market for mobile services in Malaysia remains highly competitive. Maxis believes that the main competitive factors in the mobile services market are network coverage, service quality, pricing and brand. Maxis’ key competitors in the mobile segment are Celcom and DiGi, in addition to the new mobile entrant, U Mobile. In addition, MVNOs such as Merchantrade Asia Sdn Bhd, Tunetalk Sdn Bhd and XOX Dot Com Sdn Bhd have also recently entered the market. AparHrom the mobile {lperators, there are 4 WiMA)Clicensees, which”are in various stages of rolling out their services and network. These new entrants are expected to intensify price competition and product offering in their target segments. Fixed line services Prior to the Iiberalisation of the telecommunications industry in Malaysia, TM had a monopoly in the fixed line telecommunications services in Malaysia. In recent years, other players have entered the fixed line services market. Currently, TdC and Maxis are the leading competitors in the industry behind TM, which remains the dominant player. Maxis believes that it has the opportunity to compete by providing a full suite of fixed and mobile products and service offerings. 7.14 Property Maxis leases space for its 29 Maxis Centres and its 2 Maxis Contact Centres at Menara Maxis in Kuala Lumpur and Menara Sunway in Petaling Jaya. Maxis currently leases approximately 99% of its sites in its mobile network. MCB has entered into a letter agreement dated 26 April 1999 with Tanjong City Centre Property Management Sdn Bhd, a related party (which was novated by MCB to Maxis Mobile with effect from 1 June 2007) for a sub-lease for its corporate headquarters which are located at Menara Maxis, KLCC, Kuala Lumpur. The sub-lease is not registered. The sub-lease expires on 31 May 2013. Maxis leases additional office space in Menara Sunway, Plaza Sentral, 4 sales offices and 7 engineering offices throughout Malaysia. Maxis owns a warehouse in the Klang Valley and leases another 2 warehouses in Subang Jaya. Maxis also owns 10 telecommunications operation centres in Malaysia, including 2 in East Malaysia and 1 in Technology Park Malaysia (of which the building is owned by Maxis, although the land is sub-leased from MEASAT Digicast, a related party), and leases another telecommunications operation centre facility in KLCC. These centres primarily house a combination of Maxis’ switching systems for both the mobile and fixed line services. 7. BUSINESS OVERVIEW (cont’d) Maxis Broadband has executed a letter agreement on 5 January 2000 for the sub-lease of land for the telecommunications operation centre at Technology Park Malaysia with MEASAT Digicast, a related party. This sub-lease is not registered. The term of the sub-lease will be the same as the term of the principal lease between Technology Park Malaysia Corporation Sdn Bhd and MEASAT Digicast, namely up to 27 July 2025 or until the earlier termination of the principal lease. Leases and sub-leases in West Malaysia are required to be registered under the National Land Code, 1965. The interest of a sub-lessee vests in the sub-lessee on registration of the sub-lease. On registration, a sub-lessee acquires an interest which is enforceable against any assignee of the lessor’s reversion or the sub-lessor’s reversion. However, where a claim subsequent to the unregistered sub-lease is registered, the claimant will not be adversely affected nor bound by the sub-lease agreement unless the claimant has notice of the sublease. Maxis’ leased properties are mainly rented properties used as customer service centres, offices and accommodation for employees. There are more than 6,000 sites which are on a lease rental basis, located across Peninsular Malaysia and East Malaysia for the placement of telecommunication network equipment. The rented properties and the sites which are on a lease rental basis do not belong to Maxis. As at 30 June 2009, material tangible fixed assets of Maxis comprised the following: • Land and buildings (with a total net book value of RM116.2 million), comprising 10 parcels and 5 parcels of freehold and leasehold land with buildings respectively, located in Johor Bahru, Seberang Perai, Kepong, Shah Alam, Rawang, Nilai, Sungai Besi, Kelana Jaya, Kuching and Kota Kinabalu. These properties are used mainly as Technical Operation Centres (“TOes”), with one of the Shah Alam locations being used for warehousing purposes.
• Telecommunication equipment (With a total net book value of RM3,769.9 million)

These assets comprised primarily of radio network systems (RM2,034.9 million), transmission systems (RM1,074.6 million), core network systems (RM369.2 million) and operational support systems (RM212.5 million). Radio network and transmission systems are located throughout Peninsular Malaysia and East Malaysia. As at 30 June 2009, Maxis’ 2G network is spread across a total of 6,131 sites over the Klang Valley (31 %), Northern Region (19%), Southern Region (21%), East Coast (14%) and East Malaysia (15%) while 3G network is spread across 2,772 sites over the Klang Valley (49%), Northern Region (21%), Southern Region (19%), East Coast (7%) and East Malaysia (4%). Core network systems are placed in TOCs located in Shah Alam, Kepong, Rawang, Sungai Besi, KLCC, Nilai, Seberang Perai, Johor Bahru, Kuching and Kota Kinabalu. Operational support systems represent predominantly of IT systems and network management systems. These systems support IT operations and the operation of various network systems respectively and they are housed in Data Centres or TOCs located in Shah Alam, Kepong, Rawang and Sungai Besi. • Capital work-in-progress (with a total net book value of RM246.5 million), which relates primarily to radio network assets. 7. BUSINESS OVERVIEW (cont’d) 7.15 Risk management and insurance Risk management is embedded in the business activities to manage the key risks impacting business objectives. Maxis’ risk management framework involves the identification and analysis of risks impacting its objectives, formulation of response strategies and monitoring and reporting on a regular basis. Maxis has an established business continuity plan, for dealing with any unexpected and unknown risks for the recovery of critical business processes, information technology systems and networks in a cost-effective and timely manner, to minimise the impact of any disruption to its business and customers. The plan involves the identification and protection of the critical business processes and functions required to maintain an acceptable level of operations, in the event of a sudden and unexpected interruption in these processes and functions and their supporting resources. Redundancy processes and procedures are in place for all critical systems. In addition, Maxis is also developing off-site recovery capabilities for 2 critical systems, namely post-paid billing and network management. Maxis has established,procurement policies and procedures for sourcing and selecting suppliers for its major purchases. Maxis also has in place contract management and vendor performance evaluation processes to identify, assess and resolve events that may impact equipment delivery and quality of services. Under the strategic IT partnership, IBM is responsible for the operation and maintenance of Maxis’ IT systems. As part of the governance framework, meetings are held on a regular basis to monitor and review the delivery and execution of the various IT processes. In addition, IBM’s remuneration is based on performance, as measured by defined service level agreements and key performance indicators. Maxis relies on a combination of trademark, servicemark and domain name registrations, common law copyright protection and contractual restrictions to establish and protect its brand names and logos, marketing designs and internet domain names. Maxis maintains insurance policies with registered insurance companies in Malaysia, which cover material damage to property, business interruption, public liability, employer’s liability, directors’ and officers’ liability, internet liability, construction and installation liability, money-in­transit and premises, fidelity guarantees, marine-related liabilities, goods-in-transit, group accident and term life. 7.16 Research and development Maxis maintains close working relationships with its key network equipment suppliers and participates in their technology trials so as to improve equipment performance. Maxis does not currently undertake proprietary basic research and development as at the Latest Practicable Date. 7. BUSINESS OVERVIEW (cont’d) 7.17 Corporate awards Maxis has been recognised as one of the leading corporate and mobile s’ervice operators in the Asian region. Recent awards received by Maxis include: • Awards 2009 -Best Mobile Broadband
• Frost & Sullivan Malaysia Telecoms Awards 2009 -Mobile Data Service Provider of the Year

• Brand Finance Awards 2008 and 2009 -Number Four brand in Malaysia • Asian Mobile News Awards 2008 -Mobile Operator of the Year Malaysia • Malaysian Effie Awards 2008 -Silver Award Winner 7.18 Corporate social responsibility As’Malaysia’s leading mobile communications provider, Maxis ‘is””committed to supporting national aspirations in the area of technology, education and youth. Maxis implements a corporate social responsibility programme, which it believes contributes to societal development in the communities in which it operates. In 2002, Maxis launched Maxis Bridging Communities to leverage on technology and Maxis’ organisational capabilities to narrow the knowledge gaps seen among the less fortunate. Maxis Bridging Communities has developed programmes under 4 main key initiative categories, which are, bridging the digital divide, education and development of Malaysians, employee volunteerism and the environment. In 2002, Maxis launched the Maxis Cyberkids flagship programme with the aim of promoting the use of technology to children living in rural communities in Malaysia in order to bridge the digital divide between children living in rural and urban communities. In November 2008, Maxis co­hosted the ASEAN Cyberkids Camp together with the MICC as well as the Commission. The camp provided participants the chance to learn skills and acquire confidence to explore technology tools and share knowledge acquired from the camp to their peers and community. Maxis Cyberkids with Community is another extension of the Maxis Cyberkids Programme. It focuses on bridging the digital divide among communities through providing access to education through technology and improving the socio-economic status of underprivileged communities. Initiated in conjunction with the USP project, Maxis Cyberkids with Community is implemented in selected USP sites with effective learning of basic information communications and technology skills including an introduction of tools and applications of the internet. Maxis also established an education and development of the Malaysian initiative to promote and support students in their pursuit of academic excellence. Key programmes under this initiative are the Maxis Scholarship for Excellence Postgraduate Programme and the Maxis Scholarship for Excellence Undergraduate Programme. Under both programmes, eligible and qualified members of the public in general are awarded full scholarships in any area of stUdy in top-tier universities located domestically and abroad. 7. BUSINESS OVERVIEW (cont’d) 7. BUSINESS OVERVIEW (cont’d) The other 2 initiatives that were established by Maxis to empower young adults to develop their skills and nurture a community of young entrepreneurs in Malaysia include the Mobile Content Challenge and the Maxis Developer Programme. Under the Mobile Content Challenge, university and college students with innovative content concepts are given cash prizes to commercially launch their winning content applications. Launched in 2003, the Maxis Developer Programme is part of Maxis’ industry development initiatives aimed at building a community of local mobile content and application developers. The programme involves providing local content developers with guidance, equipment and training to assist them in generating new solutions and applications for the mobile devices that will be useful to Malaysians. Maxis also initiated the Employee VOlunteerism programme which aims to encourage Maxis’ employees to embrace the spirit of volunteerism. Established in 2002, this initiative provides the grounds for Maxis employees to work together on community projects by reaching out to underprivileged communities.  7.19  Environmental matters  Maxis believes that it is in compliance in all material respects with applicable environmental regulations in Ma1ay,l?ia. Maxis is not aware of or investigations.” to which it is or might become a party except as disclosed in Section 5.1.19 of this Prospectus.  .  7.20  Employees As at 30 June 2009, Maxis had 2,845 full-time employees (comprising 2,701 permanent employees and 144 contract staff who have been employed by Maxis with a term of employment of more than 1 year). More than 60% of Maxis’ employees are graduates and professionals with a broad base of experience ranging from the manUfacturing and IT to banking and oil and gas sectors, besides experience in the telecommunication sector. Maxis’ workforce has a diverse ethnic composition which Maxis believes allows for a more culturally sensitive and responsive service to Maxis’ customers. For greater flexibility, Maxis uses a combination of short and long­term contracts, and where expertise is not domestically available for management positions, Maxis hires people with the appropriate experience from overseas. The table below sets forth the number of employees for each of Maxis’ different business segments as at the end of each of the past 3 years and as at 30 June 2009. 31 December 31 December Business 2006 2007 Mobile services………………………………………. 2,284 2,411 Fixed line services………… 234 243 International gateway services -‘-72==_ 74 Total 2,;,,;,5_90_ ___….;;2;;,.,7,;;;2,;”,8 31 December 2008 2,541 272 88 2,901 30 June 2009 2,546 222 77 2,845
The table below sets forth the number of employees in the segments below as at the end of each of the past 3 years and as at 30 June 2009. 31 December 31 December 31 December Department 2006 2007 2008 30 June 2009 Management. “”……………………….. 115 143 161 156
Sales and marketing.. 345 430 460 526 Information technology……………………………. 170 170 157 24′
Technology and engineering…. 1,052 1,019 1,017 1,015 Support services…………….. 446 531 560 559
Customer services………………………………….. 327 293 374 439
Clerical and general workers 1.:..:3:::,3 142 132 126 Total __…..;2;,:;,5;.:9.;.0 2,726 2,901 2,645 Note: The reduction in the number of IT employees is due to the strategic IT partnership with IBM. See Section 7.10.2 of this Prospectus. Maxis is uni.on~fr~~ _and Maxis beli.eves tha.t labour relation_s,. within the Group and its. relationships with “its employees are good. Maxis has not experienced any strikes or disruptions due to labour disputes in the past. Training and development Maxis Academy Employee development is one of Maxis’ key priorities. Maxis Academy, Maxis’ internal training centre, which was established in 2001, is an attestation of Maxis’ commitment to promoting a culture of learning within Maxis. This training centre, which is based in Kuala Lumpur, prides itself with state of the art equipment and facilities that proVide a stimulating environment for employees to equip themselves with the right knowledge and skills geared towards meeting the future challenges of Maxis’ business. Through its 2 faculties, the College of Management Development and the College of Professional Development, Maxis Academy offers a wide range of training programmes from customised business management courses to the very latest technical and professional development programmes. For the 3 years ended 31 December 2006, 2007 and 2008 and the 6 months ended 30 June 2009, RM13.4 million, RM17.0 million, RM11.8 million and RM4.6 million, respectively, was spent on training. Leadership development The Next Generation Manager programme was established in 2006 for the benefit of Maxis’ management staff and has since played a key role in the development of managers across the organisation. For Maxis’ top management, the Executive Education Programme provides the opportunity to study at some of the most prestigious universities globally. This programme was developed exclusively for Maxis in collaboration with Harvard Business School Publishing and IBM. Maxis’ Leadership Development Engine was established to identify and develop internal talent with a high aptitude for leadership and is a core component of management development and succession planning. A formal process to review the development of talent is conducted regularly and continuous training is provided to strengthen areas that require professional development. 7. BUSINESS OVERVIEW (cont’d) Maxis also established the Maxis Management Associate Programme through which Malaysian fresh graduates from top-tier universities who possess strong academic qualifications, ambition and an interest in the telecommunications industry are selected to go through a 1-year programme in Maxis as a stepping stone to becoming future managers and leaders in Maxis. Since its inception in 2000, a total of 115 young talents have participated in this structured development programme. To complement Maxis’ training curriculum, a comprehensive robust competency framework to manage and develop human capital more effectively and proactively was implemented. These customised competencies have also been incorporated into key human resource processes. Scholarships and internships Each year, Maxis’ scholarship programme also offers employees an opportunity to obtain a Masters in Business Administration at top-tier universities of their choice. Maxis also provides scholarships for its employees’ children to pursue undergraduate studies. The scholarship programmes further illustrate Maxis’ commitment to educational excellence. Maxis offers internship opportunities to undergraduate students who seek work experience in the telecommunications. industry. The internship programme offers..undergraduate students some· exposure to various aspects of the telecommunications industry through hands-on experience. 7.21 Interruptions to business for the past 12 months There was no interruption in Maxis’ business and operations, which had a significant effect on its operations in the 12 months preceding the Latest Practicable Date. 7.22 Regulations oftelecommunications in Malaysia RegUlatory regime The primary legislation governing the communications and multimedia industry in Malaysia is the CMA. The CMA came into force in 1999, and prOVides the basic framework for the regulation on the Malaysian telecommunications, broadcasting and information technology sectors based on principles of increased transparency, competitiveness, and self-regulation. Regulator Under the CMA, the communications and multimedia industry in Malaysia is subject to the purview of the Commission. The Commission is, in turn, SUbject to the oversight of the Minister. The Commission was established under the Malaysian Communications and Multimedia Commission Act 1998. Its functions include, among others, the following: • advising the Minister on all matters conceming national policy objectives for communications and multimedia activities;
• implementing and enforcing the provisions of all communications and multimedia laws;
• considering and recommending reforms to communications and multimedia laws;
• supervising and monitoring communications and multimedia activities;

7. BUSINESS OVERVIEW (cont’d) • encouraging and promoting the development of the communications and multimedia industries, including in the areas of research and training; and
• encouraging and promoting self-regulation in the communications and multimedia industries.

The Commission has the power to issue directions to licensees, to make determinations, to hold public inquiries and to conduct investigations. It also has the power to issue guidelines. It is responsible for policy implementation. The Minister is responsible for policy making. The grant of licences is within the purview of the Minister, upon the recommendation of the Commission. The Minister is empowered to issue directions to the Commission on the exercise of its powers and performance of its functions under the CMA. In addition, the Minister is empowered to make subsidiary legislation in the form of orders, rules and regulations. Legislative framework The CMA and its SUbsidiary legislation are the principal legislation governing the telecommunications industry in Malaysia. The national policy objectives under one of the objects “,of the CMA are, ,among others: “.’ , ,<‘” • establishing Malaysia as a major global centre and hub for communications and multimedia information and content services;
• promoting a high level of consumer confidence in service delivery from the industry;
• ensuring an equitable provision of affordable services over ubiquitous national infrastructure;
• facilitating the efficient allocation of resources; and
• promoting the development of capabilities and skills within Malaysia’s convergence industries.

Various subsidiary legislation has been made under the CMA to specifically regUlate certain aspects of the industries concerned, such as (among others) rules and regulations on technical standards, spectrum, licensing, and rates. These are in turn supplemented by guidelines issued to address specific areas in more detail as needed. Licensing regime The regulatory framework established by the CMA covers 4 main categories of actiVity which can be undertaken only if licensed, which are as follows: • Network facilities provider licence: for the ownership and/or prOVISion of physical infrastructure used to prOVide communications services (for example, fixed links and radio communication transmitters and links).
• Network service provider licence: for the provision of communications services over network facilities (for example, cellular mobile services and broadcasting distribution services).
• Applications service provider (“ASP’; licence: for the provision of applications services by means of network services (for example, PSTN telephony, public cellular telephony and IP telephony).
• Content applications service provider licence: for the provision of content applications services (for example, satellite broadcasting and terrestrial free-to-air television and radio).

110 I Company No. 867573-A 7. BUSINESS OVERVIEW (cont’d) Within these categories, the CMA provides for the issuance of either individual or class licences. Effective 1 April 2005, the regulation of licensing for individual ASP licences was migrated to class ASP licences. Individual licences For individual licences, conditions imposed consist of standard and special conditions, which vary depending on the category of licence. Standard conditions are imposed under the CMA, and those applicable to individual licences generally include the following: • that the licensee shall be a company that is incorporated in Malaysia;
• that the shareholding of the licensee shall comply with relevant Malaysian foreign investment restrictions;
• that the licensee shall notify the Minister of any joint venture into which the licensee enters;
• that the licensee shall comply with the provisions of the CMA;
• that the licensee shall indemnify the Minister and the Commission against any claim or proceeding arising from any breach or failing on the part of the licensee;
• that the licensee shall comply with any applicable spectrum plan; and
• that the licensee shall comply with any applicable consumer code.

In addition to standard conditions, the Minister may declare additional special licence conditions that are specifically applicable to individual licensees. These may include, but are not limited to, the following: • the term of the licence;
• the licence fees payable;
• the local area within which the activity concerned is licensed;
• specific undertakings with respect to levels of investment, a'(;th,ities and operations; and
• specific rights and privileges agreed between the licensee and the Minister. Under the CMA, the Minister is empowered, at any time, to make a declaration:
• to modify or vary any special condition;
• to revoke any special condition; or
• to impose further special conditions; in respect of an individual licence. The term of an individual licence granted under the CMA is generally 10 y.ears. An individual


licence may be suspended or cancelled by the Minister if: • the licensee fails to pay any amount required under the CMA or the licence;
• the licensee fails to comply with the provisions of the CMA or the conditions of the licence;
• the licensee contravenes the provisions of any other law relevant to the communications and multimedia industry;
• the licensee fails to comply with any instrument issued by the Minister or the Commission; or
• the suspension or cancellation is in the public interest.

ICompany No. 867573-A  7.  BUSINESS OVERVIEW (cont’d)
Class licences In the case of a class licence, conditions that may be imposed include, among others, the following: • compliance with the provisions of the CMA;
• compliance with the provisions of all subsidiary legislation made, or other instruments, guidelines or regulatory policies issued, under the CMA;
• an obligation to indemnify the Minister and the Commission against any claim or proceeding arising from any breach or failing on the part of the licensee; and
• compliance with any other standard conditions as may be declared by the Minister, or provided in any subsidiary legislation, under the CMA.

A person who intends to operate under a class licence is required to register with the Commission under that class. The registration is valid for 1 year. The Minister may by declaration amend the conditions of class licences. Licences held by Maxis As of the Latest Practicable Date, Maxis holds the following licences: Registration Entity date Licence Expiry date Maxis Mobile 1 October 2009 Network facilities provider individual licence for the 30 September 2019 provision of fixed links and cables, radiocommunications transmitters and links and lowers, poles, ducts and pits used in’conjunction with other network facilities. 1 October 2009 Network service provider individual licence for the 30 September 2019 provision of communications services over network facilities. 23 January 2003 Network facilities provider individual licence for the 23 December 2014 provision of fixed links and cables, radiocommunications transmitters and links and towers, poles, ducts and pits used in conjunction with other network facilities. 23 January 2003 Network service provider individual licence for the 23 December 2014 provision of communications services over network facilities. 1 April 2009 Applications service provider class licence for the 31 March 2010′ provision of PSTN telephony, public payphone services, directory services and internet access services. 112 I Company No. 867573-A 7. BUSINESS OVERVIEW (coni’d) Entity  Registration date  Licence–‘—‘————­ Expiry date  Maxis Broadband  1 October 2009  Network facilities provider individual licence for the provision of earth stations, fixed links and cables, radiocommunications transmitters and links, satellite hubs and towers, poles, ducts and pits used in conjunction with other network facilities.  30 September 2019  1 October 2009  Network service provider individual licence for the provision of communications services over network facilities.  30 September 2019  1 April 2009  Applications service provider class licence for the provision of PSTN telephony messaging services. internet access services, directory services, public payphone, IP telephony and public switched data services.  31 March 2010′  Maxis Intemational  1 October 2009  Network facilities provider individual licence for the provision of earth stations, fixed links and cables, satellite hubs, submarine cable landing centre and towers, poles, ducts and pits used in conjunction with other network facilities.  30 September 2019  1 October 2009  Network service provider individual licence for the provision of communications services over network facilities.  30 September 2019  Maxis Mobile Services  1 October 2009  Network facilities provider individual licence for the provision of radiocommunications transmitters and links and towers, poles, ducts and pits used in conjunction with other network facilities.  30 September 2019  1 October 2009  Network service provider individual licence for the provision of communications services over network facilities.  30 September 2019  Maxis Mobile Services  1 April 2009  Applications service provider class licence for the provision of public cellular services, directory services, intemet access services, messaging services and IP telephony.  31 March 2010′  Maxis Asia Access  27 November 2007  S’ervices-Based Operator (Individual) licence for the provision of international simple resale services, resale of leased circuit services and virtual private network services in Singapore.  26 November 2012
Note: Subject to annual renewal. The conditions of all licences have been complied with in all material aspects. Maxis believes that its licences and approvals are in good standing and expects to be able to continue to fulfil its licence and approval terms to the satisfaction of the Minister and the Commission. The CMA provides for the renewal of an individual licence sUbject to continued compliance with the terms of such licences, the CMA and any instruments issued, made or given by the Minister or the Commission. 7. BUSINESS OVERVIEW (cont’d) The special conditions which are applicable to the individual licences provide that the licensed area is Malaysia and the annual licence fee is the greater of 0.5% of the preceding financial year’s gross turnover derived from individually licensed activities less applicable rebates for that year; 0.15% of the preceding financial year’s gross turnover; or RM50,000. Further, the licensees have to give at least 2 months’ written notice to the Minister and the Commission for any suspension of facilities or services, and recommence within 4 months of the suspension (unless there is approval otherwise). In addition, there are obligations to, among others, submit accounting records to the Commission; to notify the Minister of any restructuring or rationalisation; to comply with the Commission’s determination on universal service provision; and to inform the Commission of any proposed change to the facilities or services. The network facilities or services provider licences require the licensees to permit interconnection with other network facilities or services under terms which the Commission determines. Foreign ownership restrictions Maxis’ licences require it to comply with all relevant laws or rules under any legislation or guidelines issued by the Government or Government agencies pertaining to the restrictions on foreign shareholdings in Maxis. Pursuant to the announcement by the Prime Minister of Malaysia on 30 June 2009, the Foreign Investment Committee Guidelines have been repealed and equity ownership restrictions, if any, will (in the case of Maxis) be imposed by the Minister. No foreign equity ownership restrictions are presently imposed by the Minister on Maxis. Each of the individual licences held by Maxis may be revoked by the Minister on the recommendation of the Commission if there is a breach of any Government policy on foreign eqUity ownership. Spectrum allocation and utilisation Generally, under the CMA, the use of any frequency spectrum in Malaysia reqUires either a spectrum assignment, an apparatus assignment or a class assignment, all of which are issued by the Commission. Maxis has been allocated a total of 2×10 MHz of spectrum in the GSM 900 MHz frequency band, 2×6 MHz of spectrum in the extended GSM 900 MHz frequency band and 2×25 MHz of spectrum in the GSM 1800 MHz frequency band. Maxis also has a block of W-COMA 2100 MHz 3G network spectrum through UMTS consisting of 2×15 MHz FOO and 1×5 MHz TOO frequencies. The use of spectrum allocation is subject to the application for use of frequency for each base station. The Minister has the right, under the CMA, after taking into account the recommendations of the Commission, to reallocate spectrum. Under the Commission’s Spectrum Plan published in November 2006, 880 MHz to 915 MHz and 925 MHz to 960 MHz are designated for GSM and extended GSM. In respect of the 3G spectrum, Maxis was, on 2 April 2003, granted a spectrum assignment in respect of the following frequency bands: • 1935 MHz to 1950 MHz
• 2125 MHz to 2140 MHz
• 2015 MHz to 2020 MHz

in consideration of an assignment fee totalling RM50 million, which has been fully paid in 2008. The assignment is for a period of 15 years, expiring 1 April 2018. Please refer to Annex A for a list of Maxis’ spectrum assignment and spectrum allocation. 7. BUSINESS OVERVIEW (cont’d) Restrictions on anti-competitive behaviour The CMA prohibits a licensee from engaging in conduct which has the purpose of sUbstantially lessening competition in any communications market in Malaysia. The CMA also prohibits certain collusive arrangements for rate fixing, market sharing or boycotts. Furthermore, if the Commission determines that a licensee is in a dominant position, it may direct the licensee to cease conduct which has or may have the effect of substantially lessening competition in any Malaysian communications market, and to implement appropriate remedies. The Commission has formulated and published guidelines on “Dominant Position in a Communications Market” and “Substantial Lessening of Competition”, both of which came into force in 2000. These guidelines underscore the Government’s policy to develop a framework for competition in the communications and multimedia industries. Interconnection and access The access regime comprises the Access List, the MSA and the MSAP. Under the CMA, the Commission has the power to determine that a network facility, a network service or any other facility or service which facilitates the provision of network services or applications services be included or removed from the Access List. A licensee whose facilities or services are listed in the Access List is under an obligation to provide access to any other network facilities provider, network services provider, applications services provider or content applications services provider who makes a written request for access on reasonable terms and conditions. Such access must be provided on an equitable and non-discriminatory basis. The Commission first published a determination on Access List which came into effect in 2001. The current Access List (Determination No. 1 of 2009) came into force on 2 February 2009 and varies the previous Determination on Access List issued in 2005. The Access List includes, among others, “fixed network origination service”, “fixed network termination service”, “mobile network origination service”, “mobile network termination service”, “domestic network transmission service”, “infrastructure sharing” and “3G-2G domestic inter­operator roaming service”. Access to the HSBB network (with and without quality of service) and local loop unbundling elements (i.e. Full Access, Line Sharing, Sub-loop Service, Bitstream and DSL Resale) in locations outside the HSBB network have also been included as broadband items on the Access List. However, according to the Ministerial Direction of HSBB and Access List (Ministerial Direction No 1 of 2008), the implementation of local loop unbundling in the forms of Full Access, Line Sharing and Sub-loop Service which are provided over the HSBB network have been deferred for 7 years from 16 September 2008 to 15 September 2015. The MSA sets out the process and rules of facilitating access to all relevant licensees. Among others, the MSA outlines the general principles applicable to access regulation in Malaysia, such as implementing standard access obligations in areas including negotiations, disclosures, content and registration of Access Agreements. The Commission normally reviews the MSA together with the Access List every 3 years. The current MSA (Commission Determination No. 2 of 2009), which is a variation to the previous Commission Determination on the Mandatory Standard on Access (Commission Determination NO.2 of 2005), came into force on 2 February 2009. 7. BUSINESS OVERVIEW (cont’d) The MSAP mandates the maximum prices on selected items from the Access List, inter alia Fixed Termination/Origination, Mobile Termination/Origination Private Circuit Completion Service, Domestic Network Transmission Services and Domestic Connectivity to International Services. These prices, based on the Long Run Incremental Cost (ULRICU) principles, are applied to facilities and services which the Commission considers would suffer market failure if not regulated. LRIC is a cost-based interconnection/access pricing model for the hypothetical ‘efficient operator’ and thus prevents an operator from either being over or under-compensated for providing access to its network facilities and services. Operators are allowed to commercially negotiate pricing on Access List items that do not have mandated rates. The current MSAP (Commission Determination No 1 of 2008), which is a variation to the original Commission Determination (Determination No.1 of 2006), will expire on 30 June 2010. Rates and tariffs Mobile services are not SUbject to any rate settings and cellular mobile service operators are free to set prices for the services provided. Generally, a facilities or services provider may set prices in accordance with market rates on the basis of the following principles: • rates must be fair and, for similarly situated persons, not unreasonably discriminatory;
• rates should be oriented towards costs and, in general, cross-subsidies should be eliminated;
• rates should not contain discounts that unreasonably prejudice the competitive opportunities of other providers;
• rates should be structured and levels set to attract investment into the communications and multimedia industry; and
• rates should take account of the regulations and recommendations of the international organisations of which Malaysia is a member.

The Minister has the power, on the Commission’s recommendation, to intervene in determining and setting the rates for any competitive facilities or services for good cause, or as the public interest may require. Currently, except for international calls, fixed line tariffs are regulated under the Communications and Multimedia (Rates) Rules 2002. USP USP is regUlated by the CMA and Communications and Multimedia (Universal Service Provision) Regulations 2002. The Communications and Multimedia (Universal Service Provision) Regulations 2002 has been amended several times, the latest of which was in 2008 pursuant to the Communications and Multimedia (Universal Service Provision) (Amendment) Regulations 2008. The Communications and Multimedia (Universal Service Provision) Regulations 2002 provides for among others, the designation for a universal service target and provider, processes and procedures for a universal service plan, contributions to the USP Fund and payments to the designated universal service providers from the USP Fund. The objectives of USP are as follows: • the installation of network facilities and the provision of network services; and 7. BUSINESS OVERVIEW (cont’d) • the provision of applications services for: (i) providing collective access to basic telephony service and internet access service; and
(ii) providing individual access to basic telephony service and internet access service,

for universal service targets. A universal service target is an underserved area and/or an underserved group within the community. An underserved area is defined as per the following: • PSTN -any area where the penetration rate for PSTN subscribers in Malaysia is 20% below the national PSTN penetration rate or where the PSTN services are not sufficiently available.
• Public cellular services -any area with a population density of 80 persons per square kilometre or less or where public cellular services are not sufficiently available.
• Broadband access services -any area where broadband penetration rate is below the national broadband penetration rate or where broadband access services are not sufficiently available.

Notwithstanding the above, the regulations also allow the Commission to determine an area as underserved if either any of the services above is not sufficiently available. Once the Commission has identified the universal service targets, it will publish a notification of these specified areas. Licensees will then be invited to submit their draft universal service plans to bid to provide services to these underserved areas. Upon approving the selected draft universal service plan, the winning licensee will be designated as the universal service provider for that area. All licensees with total net revenue derived from the designated services in the preceding year that is more than the minimum threshold of RM2.0 million are required to contribute to the USP Fund. Designated universal service providers are allowed to claim from the USP Fund to finance the roll-out in the designated USP areas. The funding can either be for both operating and capital expenses on a no-gain-no-Ioss basis, or solely for capital expenses in certain instances. The claiming mechanism will be spelt out in the Commission’s bidding documents. The eligible licensees are required to contribute 6% of their weighted net revenue from designated services annually to the USP Fund. However, participation in USP projects is not confined to licensees that contribute to the USP Fund, as licensees that have not achieved the minimum net revenue threshold are also allowed to take part. The regulations also feature a provision for major contributors. Major contributors are licensees whose contribution to the USP Fund exceed RM20 million. These contributors may utilise up to 50% of their contribution in a particular calendar year for the purpose of funding the capital costs for the provision of universal service. A major contributor intending to do so is required to submit its plan to the Commission by 30 September every year for approval. MNP From August 2008, MNP was implemented in Malaysia, with the nationwide implementation occurring in October 2008. This permits mobile users to retain their numbers when switching service providers. Mobile users now have the choice and freedom to choose service providers without the inconvenience of having to change their numbers. A porting fee of a maximum of RM25 is permitted to be charged when a user switches service providers. 117 7. BUSINESS OVERVIEW (cont’d) 7.23 Technology Cellular technology Maxis employs GSM, GPRS, EDGE and W-CDMA technologies for the provision of wireless services across 2G to 3G. GSM Maxis employs the GSM standard for its 2G mobile network. GSM was initially developed to standardise the use of mobile technology in Europe. It has since become one of the most widely used mobile standards in the world. Mobile systems employ multiple access technology to enable more users to use the shared spectrum at the same time. GSM uses time division multiple access (“TOMAn) which operates by dividing a channel into 8 time slots. Each mobile telephone would only transmit and receive during one time slot. One consequence of this is that the data transmission rate is reduced as a mobile telephone would only be able to transmit and receive one eighth of the time. GSM has an effective data transmission rate of 9.6 kbps for CSD. GSM commonly uses the 900 MHz, 1800 MHz or 1900 MHz bands. The 900 MHz and 1800 MHz bands are generally used in Europe and Asia while the 1900 MHz band is used in the United States. Generally, a greater amount of spectrum available will result in more capacity and reduced complexity in cellular design. However, one consequence of a higher frequency such as GSM 1800 or GSM 1900 is that the maximum range of the cells is smaller, with the result that more cells are required to cover the same geographic area as compared with a GSM 900 network. Increasing the number of cells would increase the opportunity for frequency re-use and therefore would create additional capacity. Maxis believes that, in most cases, the GSM 900 network, which is the frequency in which the Company mainly operates its 2G network, provides the best combination of capacity and coverage options out of the three GSM frequency bands. GSM divides a given coverage area into a number of “cells”. Cells vary in size, from 50 m to 35 km in radius, depending upon the terrain and physical obstructions to radio transmission. The cellular network may utilise the enhanced radio cell technique which increases the radius of a cell by up to 120.,km.,by .combining two time slots together. Each…cell contains atleast one. transmitter-receiver, each with a capacity to hold up to eight simultaneous calls, that communicates by radio signal with mobile telephones located in the cell. The transmitter­receivers are located at what are known as STS, typically affixed to the top of buildings, towers or similar structures. The cells are usually designed on a grid, although terrain factors, inclUding natural and man-made obstructions, signal coverage patterns and capacity constraints may result in irregularly shaped cells and overlaps. Cell boundaries are determined by local topography and the strength of the signal emitted by the cells’ transmitter-receivers. Each cell is connected to a SSC which handles the call set-up and management and control of the cell including intra-SSC handover of calls. Each SSC is then connected to a MSC which is responsible for setting up, routing or switching calls from the originator to their destination via other MSCs, the PSTN for fixed domestic calls, the international gateway or to other licensed network operators. 7. BUSINESS OVERVIEW (cont’d) All MSCs are interconnected to each other and to international gateway switches via a transmission network system. When a mobile subscriber in a particular cell dials a number, the mobile telephone transmits the call by radio signal to one of the cell’s transmitter-receivers, which then directs it to the BSC and in turn to the MSC. The MSC completes the call by connecting it with another mobile unit (through another MSC, if necessary), a fixed domestic phone via the PSTN, a foreign party via the international gateway or another party served by another domestic operator’s network. Incoming calls are received by the MSC, which instructs the appropriate cell, via the appropriate BSC, to complete the communications link by radio signal between one of the cell’s transmitter-receivers and the mobile telephone. By leaving the mobile telephone on, a signal is emitted so the MSC can determine in which cell the mobile telephone is located. The MSC also records information on system usage and is linked to several databases. The HLR stores information relating to the subscriber such as current and most recently used network and location area. The VLR stores geographical location of users temporarily within an MSC’s coverage. The GSM network is connected to the fixed PSTN and other mobile operators via the GMSC. The majority of mobile systems operate on assigned pairs of frequency bandwidths, one for transmitting (downlink) and one for receiving (uplink), which are allocated in Malaysia by the Commission. The allocated radio frequency is divided into a number of bands, each of which are sub-divided into radio channels. Two distinguishing features of GSM mobile systems are: • frequency re-use -enabling the simultaneous use of the same frequency in two or more adequately separated cells; and
• call handover -where a user is switched from one cell to an adjacent cell on a different channel while a call is in progress due to a deteriorating signal in order to obtain a stronger signal and maintain the call.

A mobile system’s frequency re-use and call handover features permit efficient use of available frequencies and enable a mobile system to process more calls in adjacent cells than would otherwise be possible. The capacity of a mobile system is dependent on the amount of frequency spectrum available and the modulation and coding scheme used in the air-interface….”, ….,. As system usage grows such that all eXisting channels capacity are frequently in use and congestion occurs, additional transmitter-receivers can be added at the relevant BTS up to the limits of the frequency spectrum available. Capacity can be increased further by “splitting” an existing cell into a number of smaller cells by adding new transmitter-receivers at new BTS locations within the original cell. Current technology allows small transmitter-receivers to be dedicated to quite localised areas (for instance buildings or even partiCUlar floors of buildings). These are known as “microcells” or “picocells”. GPRS The GSM network can be upgraded to provide GPRS by software and hardware upgrades. GPRS integrates GSM and internet protocol technologies, providing continuous connection for data transfer. GPRS improves the available data rates supported by the air interface, thereby permitting the introduction of new, data-oriented services and applications, and enabling users to have faster access to the internet using their mobile phones. GPRS’ important characteristics include the following: • it is an “always on” system where the connection to the internet is permanent and users do not wait for dial-up access; and 7. BUSINESS OVERVIEW (cont’d) • it uses packet sWitching technology (as opposed to circuit switching which is commonly used for voice telephone systems) where data is transmitted in the form of packets allowing bandwidth to be used more efficiently. EDGE Another enhanced GSM technology is EDGE, a packet switched mobile data service for GSM networks that is mainly used for data applications like multimedia (such as music downloads) and video services. EDGE delivers data at a higher speed compared with GPRS. The provisioning of EDGE technology only requires software and hardware upgrades and swap for GSM networks. 3G mobile communications 3G is a family of standards for wireless communications defined by the ITU, which includes GSM EDGE, Universal Mobile Telecommunications System and CDMA2000 as well as DECT and WiMAX. Services include wide-area wireless voice telephone, video calls, and wireless data, all in a mobile environment. 3G networks enable network operators to offer users a wider range of more advanced services while achieving greater network capacity through improved spectral efficiency. There are 3 main standards of 3G technology today: (i) W-CDMA -W-CDMA is a wideband spread-spectrum channel access method that utilises the direct-sequence spread spectrum method of asynchronous code division multiple access to achieve higher speeds and support more users compared to most TDMA schemes used today. Wireless operators in Malaysia, including Maxis, have adopted the W­CDMA standard as mandated by the Commission. HSPA is a software protocol that improves data transmission speeds for existing W-CDMA networks. The HSPA protocol consists of 2 parts:
• HSDPA -A software upgrade for W-CDMA that increases data download speeds and sometimes referred to as 3.5G. HSDPA can support downlink data transmission speeds up to 14.4 Mbps.
• HSUPA -Improves upstream data bit rate on the 3G systems in coordination with HSDPA, the ‘objective being to’support symmetrical up and dbwn’data rates, so that 3G . can support applications such as videoconferencing. HSUPA can support uplink data transmission speed of up to 5.76Mbps.


(ii) CDMA2000 -CDMA2000 standard evolved from CDMA One standard. CDMA2000 standard is mainly used in Korea and the US.

(iii) Time DiVision-Synchronous Code Division Multiple Access (UTO-SCOMA”) -A standard that has been mandated by the government of The People’s Republic of China and developed by the Chinese Academy of Telecommunications Technology, Datang Mobile and Siemens AG. WiMAX technology WiMAX, which stands for Worldwide Interoperability for Microwave Access, is a wireless technology that delivers data over long distances, in a variety of different ways, from point-to­point links to full mobile cellular-type access. Compared with 3G technology, WiMAX can transmit data at a faster speed, but is not as widely employed worldwide as it is an emerging technology. The initial services that have launched are restricted to limited or nomadic wireless services and currently allow for limited mobility. 120 7. BUSINESS OVERVIEW (cont’d) Maxis does not provide WiMAX services. However, in Malaysia, 4 companies have been awarded WiMAX licences, including Packet One Networks (Malaysia) Sdn Bhd, REDtone International Bhd, YTL E-Solutions Berhad and Asiaspace Dotcom Sdn Bhd. Fixed line broadband technology Fibre optic transmission technology Maxis Broadband uses synchronous digital hierarchy architecture which is a self-healing, dual counter-rotating ring system that allows for instantaneous re-routing in the event of a break in the fibre optic resulting in minimal downtime. With the use of fibre optic transmission technologies, signals are transmitted through pulses of light through a very thin strand of plastic or glass at great data carrying capacity. The use of fibre optic networks allows data to be transmitted at very high speeds. Signals can also be transmitted at greater distances between local telephone systems without needing to be “refreshed” or strengthened. Digital subscriber line technology xDSL stands for digital subscriber line, while the x represents different kinds of DSL, for example ADSL. xDSL is a technology that can be employed over existing copper wires found in the “last mile”. When copper wire is used to carry telephone calls, only a part of its capacity is being utilised. xDSL takes advantage of the unutilised capacity of copper wire by transmitting data at different frequencies, without interfering with the frequencies that are used to carry voice traffic. ADSL is designed on the basis that users generally download a significantly larger amount of data than they would upload data. ADSL provides for faster speed for downstream data which is sent to the user than upstream data which is sent by the user. Metro-E This technology is designed to deliver cost-effective data connections and value added services to residential, business or mobile customers through Ethernet and IP networks. The versatility of the Metro-E technology allows for the provision of true carrier-grade Ethernet .. ~olutions .Rnd new revenue-generating servirc”,,,,to business and,residential customers su<;t),\~s.. leased line (point-to-point, multipoint-to-multipoint and point-to-multipoint), internet access, high bandwidth multimedia connections, IP telephony and shared virtual private network which can be offered onto a single platform. This product offers customers higher connection speeds either with copper or optical fibre handoff. MPLS MPLS technology is capable of delivering a wide variety of advanced, IP value-added services over a single infrastructure. This versatile solution can be integrated seamlessly over any existing infrastructure, such as IP, ATM, and Metro-E over fiber. The IP/MPLS Network Architecture can be designed to allow for high availability, enhanced traffic engineered capabilities enabling minimisation of traffic latency, one of the principal causes of deterioration of voice transmission over IP thereby improving quality, IN performance and fault management. 7. BUSINESS OVERVIEW (cont’d) 7.24 Contracts/Agreements on which Maxis is highly dependent The following contracts, being contracts within the ordinary course of business, are contracts on which Maxis is highly dependent and are material to Maxis’ business or profitability: 7.24.1 Access Agreement dated 31 May 2006 entered into among Maxis Broadband, Maxis Mobile Services, Maxis Mobile, Maxis International and TM as amended by the Supplemental Agreement NO.1 dated 18 May 2007, Supplemental Agreement No.2 dated 27 December 2007 and Supplemental Agreement No.3 dated 31 December 2008 in relation to the facilities and services offered by 1 operator to the other operator subject to the scope of their respective Iicences.The Access Agreement has been registered with the Commission and where required the supplemental agreements have been registered or are pending registration with the Commission. The Access Agreement shall remain in full force until its termination. 7.24.2 Access Agreement dated 30 April 2004 entered into among Maxis Broadband, Maxis Mobile Services, Maxis Mobile and Celcom, Celcom Transmission (M) Sdn Bhd and TM Cellular Sdn Bhd, as amended by the Supplemental Agreement No.1 dated 15 October 2004, Supplemental Agreement No. 2 dated 20 February 2006, Supplemental Agreement NO.3 dated 31 May 2006, Supplemental Agreement NO.4 dated 18 May 2007, Supplemental Agreement NO.5 dated 1 August 2008, Supplemental Agreement No.6 dated 26 February 2009 and Supplemental Agreement NO.7 dated 1 June 2009 in relation to the facilities and services offered by 1 operator to the other operator subject to the scope of their respective licences. The Access Agreement has been registered with the Commission and where required the supplemental agreements have been registered or are pending registration with the Commission. The Access Agreement shall remain in full force until its termination. 7.24.3 Access Agreement dated 31 May 2006 entered into among Maxis Broadband, Maxis Mobile Services, Maxis Mobile and DiGi Telecommunications Sdn Bhd as amended by the Supplemental Agreement No. 1 dated 18 May 2007 and Supplemental Agreement No.2 dated 1 August 2008 in relation to the facilities and services offered by 1 operator to the other operator subject to the scope of their respective licences. The Access Agreement has been registered with the Commission and where required the supplemental agreements have been registered or are pending registration with the Commission. The Access Agreement shall remain in full force until its termination. ..”. . .. , ..•.•’..,,; …. .’

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