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Axiata cuts dividend amid forex woes, regulatory uncertainties

Move follows 75% plunge in profit after tax to RM657m for 2016 due to large forex losses, among other things

Kuala Lumpur

AFTER six consecutive years of increasing its dividend payout ratio (DPR), Malaysia's Axiata Group Bhd intends to significantly slash the payout for financial years 2016 and 2017 to pare down its US dollar borrowings, and also as a precaution amid currency volatility, and tax

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