Bursa Filings


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

Back Apr 15, 2016

 

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RECURRENT RELATED PARTY TRANSACTIONS
Description

AIRASIA BERHAD ("AAB" 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 12 May 2015 of AAB (“Estimated Value”):-

Related Party

Nature of Transaction

Estimated Value (RM)

Actual value of RRPT to date (RM)

Variance (RM)

Variance (%)

Caterhamjet Global Ltd (“CJG”)

Provision of Bombardier Global Express aircraft operated by CJG and maintenance support for the aircraft to our Company

9,200,000

15,662,063

6,462,063

70%

 

To date, the Company has paid RM15,662,063. The reasons for the variance between the actual amount charged and the Estimated Value were due to:

  1. Higher foreign exchange rate (USD/RM) that ranges from RM3.8 to RM4.2;
  2. Implementation of 6% Goods and Services tax (“GST”); and
  3. Higher annual contribution due to higher operating cost effective 1 April 2016,

which increased the contribution to CJG by the Company subsequent to the shareholders’ mandate obtained in June 2015.

This announcement is dated 15 April 2016.

 





Announcement Info

Company Name AIRASIA BERHAD
Stock Name AIRASIA
Date Announced 15 Apr 2016
Category General Announcement for PLC
Reference Number GA1-15042016-00082