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

BackMay 11, 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 TRANSACTION ("RRPT")

The Company wishes to announce that the actual value of the following RRPT has exceeded the estimated value of the RRPT 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 11 May 2015

(RM)

Variance (RM)

Variance (%)

AirAsia Berhad (“AAB”)

Shared services in relation to the respective employees of the Company whose services are also provided to AAB.

750,000

1,183,000

433,000

57.73

The reason for the variance between the actual amount charged and the estimated value was due to additional scope of work undertaken therefore resulting in additional employees employed by the Company for AAB subsequent to the shareholders’ mandate obtained in June 2014.

This announcement is dated 11 May 2015.




Announcement Info

Company Name AIRASIA X BERHAD
Stock Name AAX
Date Announced 11 May 2015
Category General Announcement for PLC
Reference Number GA1-11052015-00097