Incorporation Of A Subsidiary In Singapore
AIRASIA GROUP BERHAD ("AIRASIA" OR "THE COMPANY") INCORPORATION OF A SUBSIDIARY IN SINGAPORE
Pursuant to Paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of AirAsia wishes to announce that RedBeat Ventures Sdn. Bhd. (“RBV”), a wholly-owned subsidiary of the Company, had on 21 May 2019 incorporated a wholly-owned subsidiary, Teleport Everywhere Pte. Ltd. (“Teleport”), under the laws of Singapore as a company limited by shares for a total registered share capital of USD100 (approximately RM418.45*) comprising 100 ordinary shares (the “Incorporation”). The purpose of the Incorporation is to enable better organisation of Teleports subsidiaries, associate companies and investments, now and in the future. The exercise will also rebrand AirAsia’s cargo and logistics services from “RedCargo” and “RedBox” to “Teleport”, as well as to reinforce our mission to transport things from A to B easily.
The Incorporation will not have any effect on AirAsia’s share capital and substantial shareholders’ shareholding and is not expected to have any material effect on the earnings per share, net assets per share as well as the gearing of the Company for the financial year ending 31 December 2019.
The Incorporation is not subject to the approval of the shareholders of the Company. None of the Directors, major shareholders of the Company and/or persons connected with them have any interest, direct or indirect, in the Incorporation.
This announcement is dated 23 May 2019.
*Based on the exchange rate USD1: RM4.1845 published on the website of Bank Negara Malaysia on 21 May 2019.
|Company Name||AIRASIA GROUP BERHAD|
|Date Announced||23 May 2019|
|Category||General Announcement for PLC|