According to sources, following at least two rounds of presentations, the current shortlist is thought to include Ogilvy, Flying Giraffe and First Edition.
Another source further noted that the telco would be picking a winner soon in order to expedite its marketing activities in the country.
XL Axiata initiated its creative review earlier this month.
The mobile firm officially changed its name to XL Axiata in December last year. The telco had previously worked with Dentsu Strat, and called for a creative pitch for a 'big-sized project' this January.
However, the current review is for an agency to be appointed on an agency-of-record basis.