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Malaysia's Axiata unit to rely more on debt to fund growth

edotco could raise gross debt to 3.5% of ebidta from below 2.5% now, CEO says

KUALA LUMPUR (Nikkei Markets) -- edotco Group, the telecommunication infrastructure unit of Malaysia's Axiata Group, may rely more on debt to fund future expansion and finance acquisitions instead of raising fresh capital, its chief executive said Monday.

The most likely approach would be raising funds through syndicated loans and project financing, Suresh Sidhu told Nikkei Markets. The company could raise gross debt as a percentage of earnings before interest, tax, depreciation and amortization to 3.5 times from the current level which hovers below 2.5 times, he said.

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