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Malaysia's Axiata Considering Investment in Burma

9 October 2012

Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, is thinking of entering the Burmese market, according to a report by Dow Jones Newswires. “Myanmar is a logical and interesting market to consider investing; it represents a strategic market given its high growth potential,” Axiata said in an e-mailed statement on Monday. However, the company said it did not have a time frame to invest in the country, which has one of the lowest telephone penetration rates in Asia, with only 3 million out of a population of 60 million having a phone connection.