234 / 396
8. Fair value of financial instruments
The carrying amount of the Company's financial liabilities are reasonable approximation of fair value due to its short-term nature.
9. Financial risk management policy
The Company has not adopted any financial risk management policy for its financial instruments as it is currently dormant.
10. Capital management
The Company has not adopted any capital management policy as it is currently dormant.
11. Comparatives
There are no comparative figures as this is the first set of financial statements prepared by the Company since the date of
incorporation.
12. Subsequent event
Internal reorganisation
On 15 March 2018, the High Court has approved the internal reorganisation in AirAsia Berhad ("AAB"), a directors related company,
by way of a Members' Scheme of Arrangement under Section 366 of the Companies Act, 2016 for the following proposals;
(a) the exchange of 3,341,974,080 newordinary shares to be issued by the Company, with 3,341,974,080 ordinary shares (including
treasury shares) in AirAsia Berhad ("AAB"), representing the entire issued share capital of AAB, a public limited liability company
incorporated and domiciled in Malaysia, listed on the Bursa Malaysia Securities Berhad and has a principal activity of providing
air transportation services, on the basis of 1 existing AAB Share for every 1 new Share of the Company held on 6 April 2018; and
(b) the assumption of the listing status of AAB by the Company and the admission of the Company to and withdrawal of AAB from
the Official List of Bursa Malaysia Securities Berhad, with the listing of and quotation for the Company Shares on the Main
Market of Bursa Securities.
Accordingly, the internal reorganisation has been completed on 16 April 2018.
[ ]
AirAsia Group Berhad
REPORTS AND FINANCIAL STATEMENTS
221