XL Axiata

XL Axiata forecast high single-digit revenue growth for the full year after booking an increase in Q2.

XL Axiata completed 4G coverage testing for a forthcoming light rail network connecting Jakarta with other cities, having deployed 2,300 base stations along two routes with 18 stations.

Axiata Group laid out plans to position its two operating units in Indonesia as a converged service company and a specialist wholesale fibre company, with the goal of improving joint asset utilisation and operating efficiencies.

Indonesia-based XL Axiata forecast continued revenue gains in 2023 after recording growth in Q4 fuelled by rising 4G adoption and improved ARPU. In its earnings release, the operator predicted mid- to high-single-digit revenue growth.

Indonesia-based XL Axiata argued its finances had been strengthened by making early payments on its corporate debt after completing a rights issue to raise IDR5 trillion ($330. 4 million) in new capital.

Axiata Group and its Indonesia unit XL acquired a 66. 03 per cent stake in Link Net for IDR8. 7 trillion ($114.

Axiata Group teamed with its Indonesia unit to commit to acquiring a majority interest in broadband and cable-TV provider Link Net for IDR8. 7 trillion ($604. 8 million), to expand its digital services in a high-growth region.