banner image

News


Transactions (Chapter 10 Of Listing Requirements):Recurrent Related Party Transactions

BackFeb 24, 2015
Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RECURRENT RELATED PARTY TRANSACTIONS
Description AirAsia X Berhad (“AAX” or “the Company”)-
- Recurrent Related Party Transactions (“RRPTs”)

The Board of Directors of AAX wishes to announce that actual value of the following RRPTs have exceeded the estimated value of the RRPTs disclosed in the Circular to Shareholders dated 14 May 2014 of AAX (“Estimated Value”):-

Related Party

Nature of Transaction

Estimated value (RM)

Actual value of RRPT up to 31 December 2014

 

 

Variance (RM)

Variance(%)

Reason of variance

Asian Aviation Centre of Excellence Sdn Bhd (“AACOE”)

Provision of commercial training services and non-pilot training services by AACOE

 

 

9,373,000

11,364,508

1,991,508

21.25

Expansion of Aircraft fleet faster than anticipated.

Think BIG Digital Sdn Bhd (“Think BIG”)

Purchase of loyalty points from Think BIG, which operates and manages a loyalty program branded as the BIG Loyalty Program

 

 

600,000

712,802

112,802

18.80

Business volume higher than anticipated.

Tune Insurance Malaysia Berhad (“TIMB”)

Payment to TIMB of insurance premium collected on its behalf

10,532,000

13,248,689

2,716,689

25.79

 

The insurance scheme was more successful than anticipated.

This announcement is dated 24 February 2015.

 


Announcement Info

Company Name AIRASIA X BERHAD  
Stock Name AAX    
Date Announced 24 Feb 2015  
Category General Announcement
Reference No CM-150224-66182