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

BackMay 11, 2016
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 13 May 2015 of AAX (“Estimated Value”):-

Related Party

Nature of Transaction

Estimated Value

(RM’000)

Actual value of RRPT up to 10 May 2016

(RM’000)

Variance (RM’000)

Variance (%)

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

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

6,300

6,932

632

10.0

The variance between the actual amount charged and the estimated value was due to the weakening of MYR against USD, as most commercial training services and non-pilot training services rendered by AACOE are denominated in USD.

This announcement is dated 11 May 2016.





Announcement Info

Company Name AIRASIA X BERHAD
Stock Name AAX
Date Announced 11 May 2016
Category General Announcement for PLC
Reference Number GA1-11052016-00067