Axiata settles Telekom Malaysia debts

According to Reuters, Axiata (formerly TM International) has fully settled the MYR4 billion (USD1.1 billion) debt owed to former parent Telekom Malaysia™. The debt stemmed from the demerger that took place last year, and follows the announcement earlier this month that Axiata had repaid MYR2 billion ahead of schedule. According to TeleGeography’s GlobalComms database Axiata was originally a holding company for the international interests of Malaysian fixed line and broadband incumbent TM. The group was demerged in April 2008 as part of a structural reorganisation implemented by TM, and was listed on the Bursa Malaysia on 28 April that year.