Financial Capital
  • RM1.11 billion total commercial capex invested in line with our growth strategy
  • Focused on working capital initiatives
Manufactured Capital
  • More than 2,000 upgrades and new sites for 4G
  • Fibre and fixed wireless broadband access to more than 7 million premises nationwide
  • More than 400 Maxis stores and over 4,500 Hotlink stores
Intellectual Capital
  • Skilled technical and expert teams in all fields
  • Digital self-service capabilities and Digital Care programme
  • Rights, licenses, and partnerships for Consumer and Enterprise solutions
  • Advanced analytics and machine learning
Human Capital
  • More than 5,800 Maxis colleagues serving the nation
  • Continuous employee learning and development via Maxis Academy
  • Integrated talent development and leadership programmes
  • Women at Maxis, Youth at Maxis, Maxis Graduate and Maxis Scholarship programmes
  • Maxis Digital Citizen programme for employee digital upskilling
  • Health, Safety and Environment (HSE) training and management
  • Maxis Anti-Bribery and Corruption (MABC) system certification
Social & Relationship Capital
  • Proactive engagements with non-governmental organisations (NGOs), learning institutions and underserved communities
  • Constant engagement with our Government and regulators (e.g.MCMC)
  • Effective management of our suppliers and vendors
  • Formation of the Maxis 5G Alliance to catalyse the development of 5G use-cases and IoT solutions
Natural Capital
  • Improved base station energy efficiency with intelligent inverter control, upgraded cooling and air-conditioning and off-grid solar energy systems in rural sites
  • Upgraded data and switch centres with deployment of on-grid solar energy systems
  • Enhanced office waste management
Financial Capital
  • 4.0% increase in Service Revenue to RM8.3 billion
  • 1.6% increase in EBITDA to RM3.9 billion
  • Dividends increased to 20 sen per share
Manufactured Capital
  • >3.3 million Postpaid subscribers
  • >5.7 million Prepaid subscribers
  • >750k home and business connections (fibre, wireless & home broadband)
  • 95% 4G LTE population coverage
  • 95.4% of mobile speed >3 Mbps
  • 74% of voice traffic conducted over Voice over LTE (VoLTE) service
Intellectual Capital
  • Strong NPS of +66
  • 6% YoY growth in Digital Care adoption
  • 2.5x YoY increase in Digital Sales
  • 2% YoY increase in Digital Recontracting
Human Capital
  • 44% female representation in Maxis
  • Voice of Maxis employee engagement score of 83%
  • >130,000 hours of employee blended training conducted
  • >190 sessions conducted on health and safety
  • Offered 19 Maxis scholarships and 20 Graduate positions
  • Awarded with multiple ISO 37001:2016 Anti-Bribery Management System certifications
  • 100% completion of Maxis Code of Business Practice (MCOBP) training
Social & Relationship Capital
  • Leveraged the SME Digitalisation Grant to support >25,000 SMEs as of 2022
  • Supported >73,000 students and >1,700 entrepreneurs through eKelas and eKelas Usahawan respectively
  • Supported vulnerable communities through humanitarian relief efforts and festive charity
  • >1,300 volunteering hours by employees
  • 14 training sessions on anti-bribery and corruption conducted for third parties
Natural Capital
  • Total emissions of 225,205 CO2 tonnes
  • 263 kg of office waste recycled
Creating A Digitally Inclusive Society
Enhancing Our Omnichannel Customer Experience
Empowering Our People and Transforming Our Organisation
Caring for Our Community and Environment
Embedding Responsible Business Practices
Chairman’s Statement
Tan Sri Mokhzani Bin Mahathir
Together with the industry, Maxis continued to support the Government’s important initiatives like Jalinan Digital Negara (JENDELA), with a focus on providing wider and higher-quality internet connectivity for the rakyat.
Total Dividend
sen per share
Total Payout
Watch Chairman’s Video
CEO’s Statement
Goh Seow Eng
Chief Executive Officer
It is my resolute belief that successful homegrown companies like Maxis and a skilled and talented workforce that are fully committed to Malaysia are the bedrock of our nation’s development and prosperity.
Service Revenue
Operating Free Cash Flow
Watch CEO’s Video
Management Discussion & Analysis
  • Service Revenue (RM’m)
    Consumer Converged Revenue Enterprise Converged Revenue 2021 2022 2022: 2021: +4.0% 8,336 8,018 1,518 1,525 6,500 6,811
  • Revenue (RM’m)
    9,241 9,789 2021 2022 +5.9%
  • Consumer Converged Revenue (RM’m)
    Postpaid Revenue Prepaid Revenue Home Connectivity Revenue 2022 6,811 2021: 6,500 +4.8% 2021 2022 3,064 3,275 2,715 2,693 721 843
  • Consumer Postpaid
    2021 2022 3,139 3,343 80.4 78.8 +6.5%
    Consumer Postpaid subscribers (‘000)
    Postpaid ARPU (RM)
  • Consumer Prepaid
    5,959 5,785 2021 2022 37.8 38.7 -2.9%
    Consumer Prepaid Subscribers (‘000)
    Prepaid ARPU (RM)
  • Home Connectivity
    591 669 2021 2022 111.1 110.3 +13.2%
    Consumer Home Connectivity Connections (‘000)
    Home Blended (Fibre and WBB) ARPU (RM)
  • Enterprise Connectivity (RM’m)
    Underlying Enterprise Revenue Wholesale Voice 20022: 1,525 2021: 1,518 +0.5% 2022: 1,417 2021: 1,302 +8.8% 216 108 1,302 1,417 2021 2022
  • Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA)
    3,876 3,938 2021 2022 48.3 47.2
    EBITDA (RM’m)
    EBITDA Margin on Service Revenue (%)
  • Profit After Tax (PAT)
    1,308 1,181 2021 2022 14.2 12.1
    PAT (RM’m)
    PAT Margin (%)
  • Commercial Capex & Operating Free Cash Flow (RM’m)
    2021 2022 2021 2022 1,187 1,114 3,763 3,303 -6.1% -12.2%
    Value Creation Model
    The diagram below illustrates how we utilise our business capitals to create value for our business and stakeholders. Further details of the inputs and outputs of our six business capitals are explained in the following pages.
    Utilising Our Business Capitals
    • Our Inputs
      Financial Capital
      Manufactured Capital
      Intellectual Capital
      Human Capital
      Social & Relationship Capital
      Natural Capital
      Read More
    • Our Strategy
      Corporate Strategy
      Converged Solutions Leader for Individuals, Homes & Businesses
      Differentiated & Digital “Unmatched Personalised Experience” (UPE)
      World Class Effective & Efficient Organisation
      Sustainability Strategy
      Digitally Inclusive Society
      Green Operations & Sustainable Living
      People Empowerment & Organisational Integrity
    • Our Outputs
      Financial Capital
      Manufactured Capital
      Intellectual Capital
      Human Capital
      Social & Relationship Capital
      Natural Capital
      Read More
    • Our Value Creation Outcomes
      • Creating A Digitally Inclusive Society
      • Enhancing Our Omnichannel Customer Experience
      • Empowering Our People and Transforming Our Organisation
      • Caring for Our Community and Environment
      • Embedding Responsible Business Practices
      Read More
    • Key UN SDGs Contributed
    Creating Sustainable Value for Our Business and Stakeholders
    • Mapping against SDGs
      • Delivered winning mobile and home connectivity through convergence
        Key Commitment
        Maxis has been a cornerstone of the Malaysian consumer mobile space since we started our operations over 27 years ago. As the nation’s leading converged solutions provider, our value propositions now encompass a wide range of products and services that complement each other to offer a complete, converged connectivity experience.
        Key Initiatives & Achievement Highlights
        • Expanded product and segment propositions to reach M40 and T20 segments
        • Proactive base management to retain and grow customer lifetime value by enriching customers’ experiences from rate plan / speed upgrades
        • Provided seamless customer journeys from in-store experience to Maxis App
        Strategy & Outlook
        • Expand Segment of One (SO1) capabilities beyond connectivity to maximise value through convergence and solutions
        • Expand target segments and wider product offerings to accelerate subscriber growth
      • Trusted partner for digital transformation of businesses
        Key Commitment
        We remain focused on providing attractive Enterprise offerings to our customers – this includes continuously refining and optimising our portfolio and rolling out innovative, customer-first solutions in order to strengthen our market leadership in the sector.
        Key Initiatives & Achievement Highlights
        • Supported over 25,000 SMEs in their digitalisation journey via our UsahaWIRA programme
        • Hosted nationwide networking sessions to connect and inspire local entrepreneurs
        • Led and formed the 5G Alliance programme to catalyse the development of 5G technology use cases and next generation IoT solutions
        • Ramping up internal capabilities to deliver value-added services to businesses
        Strategy & Outlook
        • Continue to scale up our core offering across mobile and fixed in providing right-fit connectivity needs across the business segments
        • Accelerate all round sales execution and performance management while maintaining sales excellence
        • Our Enterprise segment will continue to grow core and drive digitalisation across Malaysian businesses in a holistic way
      • Expanded our leading converged network to serve more Malaysians
        Key Commitment
        Maxis continues to expand its network coverage footprint, while enhancing service quality and adopting more state-of-the-art capabilities to provide a reliable and seamless Unmatched Personalised Experience for our customers.
        Key Initiatives & Achievement Highlights
        • Completed more than 2,000 upgrades and site builds to support JENDELA
        • 95.4% speed data above 3Mbps
        • 95% 4G LTE Population coverage
        • 74% voice traffic conducted over VoLTE
        • Fibre access to more than 7 million premises nationwide
        • 750k fibre subscribers inclusive of fixed wireless broadband
        • Trialled 10G PON (Gigabit Passive Optical Network) technology
        • Delivered uninterrupted connectivity during the 15th General Election (GE15)
        Strategy & Outlook
        • Continue to leverage on digitalisation and adopt new technologies to improve effectiveness and efficiency of our network design, processes and operations
        • Extend our network leadership superiority through the exploration of Multi-access Edge Computing (MEC) as a digital solution for enterprises
      • Fostered innovation through strategic investment in new growth areas
        Key Commitment
        Maxis places great emphasis on innovation as a fundamental catalyst for growth and productivity, especially in the rapidly evolving digital landscape. As a result, we invest not only in innovative measures to improve our operations, but also in funding new ventures and growth areas in strategic verticals.
        Key Initiatives & Achievement Highlights
        • Recognised and supported innovative Malaysian projects that make an impact to the progress of the nation through the Maxis Awards
        • Acquired significant stakes in two tech-driven ventures to foster innovation and boost the digital economy
        • Launched the Maxis Intellectual Property (IP) Policy to empower our businesses to own their innovation journeys
        Strategy & Outlook
        • Continue to grow the intellectual capital of the organisation through the filling of patents
        • Create new digital-first products and further enhance customer experiences
      Read The Full Outcome
    • Mapping against SDGs
      • Delivered unmatched personalised experience across customer touchpoints
        Key Commitment
        At Maxis, we are guided by our ‘Unmatched Personalised Experience’ (UPE) philosophy to prioritise our customers in all our Customer Experience (CX) activities. Our commitment to creating UPE puts people first with the aid of technology, developing easy-to-use and accessible solutions tailored specifically to the needs of all Malaysians.
        Key Initiatives & Achievement Highlights
        • Leveraged advanced analytics and ML models on customers’ credit eligibility to improve accessibility to Maxis products and services
        • Introduced the Maxis Mobile Network Checker on the Maxis App to give customers the ability to check on planned and unplanned network incidents
        • Implemented a Proactive Service Management feature that automatically detects loss of fibre service and guides customers in self-troubleshooting and self-restoration
        • Launched enhanced Maxis Interactive Retail Assistant (M.I.R.A.), an in-store virtual concierge, to personalise Maxis products and services offers while waiting in queue
        Strategy & Outlook
        Our objective to establish mutual trust with customers and deliver additional value to them, can be summarised as follows:
        • Deliver distribution excellence
        • Maximise customer lifetime value
        • Deliver an Unmatched Personalised Experience
      Read The Full Outcome
    • Mapping against SDGs
      • Developed a diverse and inclusive workforce with strong employee engagement
        Key Commitment
        At Maxis, our people are our greatest assets. We strive to bring the absolute best out of our people and ensure that they share the same vision in all that we do – to Always Be Ahead™.
        Key Initiatives & Achievement Highlights
        • Launched the Maxis Digital Citizen programme to build and improve the digital skills of our employees
        • Introduced Applause, a tool to promote a recognition culture amongst our employees
        • Launched Youth at Maxis, an employee-led community to build a sense of belonging among Young Talents
        • Implemented the Transformational Leadership Programme (TLP) in facilitated live sessions and developed a fully digital e-learning module
        • Achieved a healthy employee engagement score of 83%
        • Conducted more than 190 training programmes on health and safety during the year
        Strategy & Outlook
        • Improve our employee capabilities in critical emerging areas
        • Continuously build and strengthen our company culture through the MaxisWay 2.0 programme with a focus on digitalisation
        • Prioritise mental health and resilience of our people through initiatives including upskilling programmes for managers
      • Enhanced systems and capabilities to strengthen our digital and online presence
        Key Commitment
        Maxis has made good inroads with key digital capability transformation programmes and is now pivoting towards business value realisation of these new digital capabilities as well as focusing on customer transformational initiatives.
        Key Initiatives & Achievement Highlights
        • Rolled out FaceID, an in-house web app for Hotlink to allow customers to perform eKYC without a mobile app
        • Embedded our Analytical Data Store into operations to enable AI / ML-ready data
        • Refreshed the managed IoT network (MIN) dashboard to support 5G
        • 6% increase in Digital Care mix
        • 2.5x increase in Digital Sales
        • 2% increase in Digital Recontracting mix
        Strategy & Outlook
        • We will continue to expand the Agile framework, DevSecOps and DataOps as development standards for new digital capabilities
        • We are differentiating ourselves through advanced analytics and machine learning in enhancing our customers’ experiences
      Read The Full Outcome
    • Mapping against SDGs
      • Empowered communities by driving greater access to quality education and fulfilling our social responsiblities
        Key Commitment
        Our strategy for enabling a digitally inclusive society focuses on bringing the best of technologies to enable the community to Always Be Ahead™ in a changing world.
        Key Initiatives & Achievement Highlights
        • More than 73,000 students connected through our eKelas portal
        • Trained a total of 1,700 entrepreneurs through eKelas Usahawan workshops
        • Contributed 2,400 boxes of food aid and essential items, food vouchers, refurbished desktops and back-to-school packs to various disadvantaged communities
        • Contributed a total of RM3,963,000 for various community initiatives
        • mSquad members clocked in 1,355 volunteer hours in 2021
        Strategy & Outlook
        • Maxis will continue to leverage digitalisation and technology to create meaningful impact on the lives of communities in which we operate
      • Minimised our environmental footprint through efficient emission and resource management
        Key Commitment
        At Maxis, we are deeply concerned about climate change and fully aware of the need for mitigating action. To that end, we have continued to deploy initiatives that minimise our impact on the environment and closely monitor our business operations to address the impact of climate change on our activities.
        Key Initiatives & Achievement Highlights
        • Optimised the use of energy at base stations by deploying highly efficient DC rectifier power systems
        • Leveraged on MOCN (Multi Operator Core Network) technology to optimise energy consumption and facilities
        • Optimised use of equipment space, energy consumption and facilities by shutting down the KLCC TOC and legacy equipment
        • 27% increase in the reuse and recycling rate of our equipment
        • 89% recycling rate at our main corporate offices
        Strategy & Outlook
        • Maxis will continue to establish systems and policies to monitor our environmental impact
        • Maxis aims to drive circularity within the organisation by establishing a system that reduces waste and promotes sustainable resource usage
        • Maxis will identify concrete environmental goals going forward into the future and further reduce emissions
      Read The Full Outcome
    • Mapping against SDGs
      • Upheld ethical business practices through robust integrity governance
        Key Commitment
        Maxis has a zero-tolerance policy against bribery and corruption and is committed to the highest ethical standards and compliance with anti-corruption local laws, regulations and policies. Our Integrity and Governance Unit (IGU) implements, monitors, strengthens, and evaluates anticorruption controls in Maxis through the Maxis Integrity & Compliance framework (MICF) and Anti-Money Laundering / Countering Financial Terrorism (AML/CFT) framework.
        Key Initiatives & Achievement Highlights
        • Awarded with multiple ISO 37001:2016 Anti-Bribery Management System certifications
        • 100% of operations assessed for corruption-related risks
        • Conducted 14 training sessions under the Vendor Integrity Programme
        • 5,473 employees received training on Maxis’ CoBP
        • 7,306 employees received training related to Anti-Corruption and Bribery
        Strategy & Outlook
        • Maxis will continue to strive to improve efficiency in governing the ethical conduct of its directors, employees and representatives by leveraging technology that comply with global standards
      • Improved supply chain management with responsible procurement
        Key Commitment
        Maxis strives to protect our brand’s reputation with responsible procurement practices through robust risk management to identify gaps. As such, Maxis is governed by robust policies and procedures that provide guidelines in the process of sourcing, vendor selection, assessment and performance-monitoring of our suppliers.
        Key Initiatives & Achievement Highlights
        • Carried out regular assessments on key suppliers to assess vendor performance, identify improvements and ensure corrective actions are implemented
        • Improved processes and technology tools in our Source to Contract framework
        Strategy & Outlook
        • Maxis will continue to leverage technology and automation to provide the procurement team with better insights and understanding regarding spend patterns and trends
        • Maxis is committed in establishing a framework for Supplier Relationship Management that standardises vendor roles and responsibilities to enhance contractual benefits, strategic contracts, supplier monitoring and minimise opportunity loss
      • Strengthened cybersecurity to support digital transformation, ensuring cyber resiliency and responsible digital citizenship
        Key Commitment
        As technology continues to advance and businesses become more digital, the risk of cybersecurity threats becomes increasingly prevalent. With customer data at stake, protecting our network and ensuring the security of customer information is a key priority. Maxis continues to focus on a holistic approach in addressing these risks through our three strategic cybersecurity pillars: Protecting the Brand and Ensuring Compliance; Embedding Security in DNA; and Strengthening Cyber Resilience and Supporting Digitalisation.
        Key Initiatives & Achievement Highlights
        • Maxis is the first telecommunications provider in Malaysia to achieve ISO 27001 certification for our cloud infrastructure which was audited by SIRIM
        • Implemented a partner or vendor risk management programme to assess the cybersecurity posture of selected vendors and suppliers
        • Actively participated in cybersecurity forums organised by regulators and government agencies to provide input on privacy and cybersecurity laws and regulations
        • Conducted regular audits, vulnerability assessments and penetration testing to identify weaknesses in our systems and mobile network and telecommunications infrastructure
        Strategy & Outlook
        • Maxis will employ a zero-trust architecture and a security-by-design approach to ensure the security and trustworthiness of our network, digital touchpoints, systems, infrastructure and data stores
        • Maxis will continually work closely with our regulators and the Government to ensure that our customers and the country’s critical infrastructure remain safe and secure
      Read The Full Outcome
    You can find previous Annual Reports and other publications in our Annual Reports download centre & archive.
    Select one or more chapters then click Download Selected PDF.
    Copyright © 2023 Maxis Bhd. All Rights Reserved.