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AirAsia Group provides RM53 mln financial aid to subsidiaries, associates

22/11/2021 08:29 PM

KUALA LUMPUR, Nov 22 -- AirAsia Group Bhd provided about RM52.97 million in financial aid, in the form of advances and loans, to its associates and subsidiaries in the third quarter.

The financial assistance provided was in the “ordinary course of business and to facilitate the running of the operations and financial affairs” of Ground Team Red Sdn Bhd (GTR), Philippines Airasia Inc (PAA), PT Indonesia AirAsia (IAA), Big Pay Pte Ltd, and Teleport Commerce Thailand Co Ltd (TLPCMTH), the budget carrier told the stock exchange.

Of the total, advances of about US$5.04 million (RM21.1 million) were provided to IAA, while US$3.11 million (RM13 million) and RM164,616 were provided to PAA, all through its wholly-owned subsidiary AirAsia Bhd (AAB). 

It also provided a loan of RM7 million to GTR via AAB, and in addition, total advances of US$1.76 million (RM7.4 million) were provided to PAA through its wholly-owned subsidiary, AirAsia Aviation Ltd (Labuan).

AirAsia Group also gave a US$1 million (RM4.2 million) advance to Big Pay via its wholly-owned subsidiary AirAsia Digital Sdn Bhd, RM98,146 to TLPCMTH through its subsidiary Teleport Everywhere Pte Ltd and RM2,467 to TLPCMTH via Teleport Everywhere Pte Ltd (Bangkok Branch).

The company said the financial assistance did not have any material effect on the earnings per share, net assets per share and gearing of the company and its subsidiaries.




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