Axiata optimistic for future

Axiata Group says that its earnings growth may accelerate in 2010 on the back of regional economies emerging from the global credit crunch and capital expenditure cuts, reports Bloomberg. Speaking in an interview CEO Jamaludin Ibrahim stated that EBITDA could increase by between 6% and 9% in 2010, up from between 4% and 6% in 2009. Revenues meanwhile are expected to grow by more than 10% while capital expenditure will be brought below MYR4 billion (USD1.1 billion) compared with MYR4.3 billion this year. The executive also revealed that the company is giving itself five years to achieve a significant increase in the value of its Indian business, otherwise it will exit the country.