KUALA LUMPUR (July 13): Shares in Axiata Group Bhd fell 14 sen or 2.87% in early trade today to RM4.73 per share, despite the group issuing a statement yesterday saying there was no directive from Nepal’s central bank barring the repatriation of its dividends.

Yesterday, the counter saw a spike buying interest after the announcement was made at noon break, surging some 23 sen or 5% in the afternoon to close at RM4.87 per share.

As at 10.00am, a total of 618,500 had been traded, making the counter the top decliner on Bursa Malaysia.

Axiata was responding to news reports quoting Nepal Rastra Bank officials as saying the group was barred from repatriating its dividends until the issue of its Capital Gains Tax (CGT) relating to its acquisition of Ncell Pvt Ltd had been settled.

“Axiata wishes to clarify that it has not received any official communication or direction from Nepal’s Central Bank or relevant Nepali authorities on the matter,” the group said yesterday.

The group added it was confident the Government of Nepal will not discriminate and contradict the aegis of the Bilateral Investment Treaty by blocking Axiata from repatriating its dividends rightfully as a foreign investor.