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NOTES TO THE
FINANCIAL STATEMENTS
31 DECEMBER 2017
1.
Corporate information
AirAsia Group Berhad ("the Company") is a public limited liability company, incorporated and domiciled in Malaysia.
The address of the registered office of the Company has changed from B-13-15, Level 13, Menara Prima Tower B, Jalan PJU 1/39,
Dataran Prima, 47301 Petaling Jaya, Selangor, Darul Ehsan, Malaysia to Unit 30-01, Level 30, Tower A, Vertical Business Suite,
Avenue 3, Bangsar South, No. 8, Jalan Kerinchi, 59200 Kuala Lumpur, Wilayah Persekutuan, Malaysia.
The address of the principal place of business of the Company is RedQ, Jalan Pekeliling 5, Lapangan Terbang Antarabangsa Kuala
Lumpur (KLIA2), 64000 KLIA, Selangor Darul Ehsan, Malaysia.
The Company was incorporated on 24 August 2017 and is dormant as at the end of the financial period.
The intended principal activity of the Company is investment holding and the Company has not commenced operations since the
date of incorporation.
The financial statements were authorised for issue by the Board of Directors in accordance with a resolution of the directors on
16 April 2018.
2.
Summary of significant accounting policies
2.1 Basis of preparation
The financial statements of the Company have been prepared in accordance with Malaysian Financial Reporting Standards
("MFRS"), International Financial Reporting Standards and the requirements of the Companies Act, 2016 in Malaysia.
The financial statements of the Company have been prepared on the historical cost basis except as disclosed in the accounting
policies below.
The financial statements are presented in Ringgit Malaysia (RM) except when otherwise indicated.
2.2 Standards issued but not yet effective
The standards and interpretations that are issued but not yet effective up to the date of issuance of the Company's financial
statements are disclosed below. The Company intends to adopt these standards, if applicable, when they become effective.
Effective for
annual periods
beginning on
Description
or after
MFRS 2 Classification and Measurement of Share-based Payment Transactions (Amendments to MFRS 2) 1 January 2018
MFRS 9 Financial Instruments
1 January 2018
MFRS 15 Revenue from Contracts with Customers
1 January 2018
MFRS 140 Transfers of Investment Property (Amendments to MFRS 140)
1 January 2018
Annual Improvements to MFRS Standards 2014 – 2016 Cycle
1 January 2018
IC Interpretation 22 Foreign Currency Transactions and Advance Consideration
1 January 2018
MFRS 9 Prepayment Features with Negative Compensation (Amendments to MFRS 9)
1 January 2019
MFRS 16 Leases
1 January 2019
MFRS 128 Long-term Interests in Associates and Joint Ventures (Amendments to MFRS 128)
1 January 2019
[ ]
AirAsia Group Berhad
REPORTS AND FINANCIAL STATEMENTS
218