Formation Of Subsidiary

BackJun 09, 2010
Type Announcement
Subject AIRASIA BERHAD ("AirAsia" or "the Company")
Contents AirAsia is pleased to announce that it has on 8 June 2010 incorporated a subsidiary company known as Koolred Sdn. Bhd. (Company No. 903725-K) ("Koolred") (the “Formation”), a private limited company with its registered office situated at 25-5, Block H, Jalan PJU 1/37, Dataran Prima, 47301 Petaling Jaya, Selangor Darul Ehsan. The objective of establishing Koolred is to offer a premier travel social networking website where users can build their own communities and offer each other travel advice, support and share travel information.

Information of Koolred

The authorised share capital of Koolred is RM100,000.00 divided into 100,000 ordinary shares of RM1.00 each. The issued and paid-up capital of Koolred is Ringgit Malaysia Two (RM2.00) only comprising two (2) ordinary shares of RM1.00 each.

For the purpose of incorporation, AirAsia subscribed to one (1) ordinary share of RM1.00 and Ms. Phua Sheau Wei subscribed to one (1) ordinary share of RM1.00. Ms. Phua Sheau Wei will be transferring one (1) ordinary share of RM1.00 held by her to AirAsia, thus making Koolred a wholly-owned subsidiary of AirAsia.

The Directors of Koolred presently are Ms. Phua Sheau Wei and Mr. Lau Kin Choy.

The Formation is not expected to have any effect on the issued and paid-up share capital or substantial shareholders’ shareholdings of AirAsia and is not expected to have any material effect on the net assets, gearing and earnings of the AirAsia group for the financial year ending 31 December 2010.

The Formation is not subject to the approval of the shareholders of the Company and/or any other relevant government authorities in Malaysia.

To the best of the knowledge of the Company, none of the Directors and/or major shareholders of the Company and/or persons connected to them has any interest, directly or indirectly to the Formation.

This announcement is dated 9th day of June 2010.



Announcement Info

Stock Name AIRASIA    
Date Announced 9 Jun 2010  
Category General Announcement
Reference No CM-100609-45154