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12. Investment in subsidiaries
Company
2017
RM’000
2016
RM’000
Unquoted investments, at cost
2,191,564 179,790
Less: Accumulated impairment losses*
(990,226)
(36)
1,201,338 179,754
At 1 January
179,754
64,860
Additional investments in subsidiaries
35,540 114,894
Deemed acquisition of subsidiaries, net of impairment
1,414,720
–
Carrying amount of an investment in a subsidiary which was partially disposed**
(428,676)
–
At 31 December
1,201,338 179,754
* Included in accumulated impairment losses is RM990,190,000 of impairment losses recognised in prior years during which IAA
and PAA were previously held as associates.
** Investment in IAA was partially disposed for a purchase consideration of RM835 million giving rise to a gain of RM406 million.
The details of the subsidiaries are as follows:
Name of entity
Country of
incorporation
Group’s effective
equity interest
Principal activities
2017
%
2016
%
Directly held by the Company
AirAsia Investment Ltd (“AAIL”)
Malaysia
100
100
Investment holding
AirAsia Go Holiday Sdn Bhd (“AGH”)
Malaysia
100
100
Tour operating business
AirAsia (Mauritius) Limited
ƒ
Mauritius
100
100
Providing aircraft leasing facilities to
Thai AirAsia Co Ltd
AirAsia Corporate Services Limited
ƒ
Malaysia
100
100
Facilitate business transactions for
AirAsia Group with non-resident
goods and service providers
Ground Team Red Sdn Bhd (“GTR”)
Malaysia
100
100
Providing ground handling services
Koolred Sdn Bhd
Malaysia
100
100
Investment holding
AirAsia Global Shared Services
Sdn Bhd (“AGSS”)
Malaysia
100
100
To provide shared services and
outsourcing for its affiliates
Asia Aviation Capital Limited (“AAC”)
Malaysia
100
100
Providing aircraft leasing facilities
MadCience Consulting Sdn Bhd
Malaysia
100
100
Provision of central depository
services for its affiliates
BigPay Malaysia Sdn Bhd (formerly
known as Tpaay Asia Sdn Bhd)
(“BigPay”)
Malaysia
100
100
Provision of financial and other
related services
Rokki Sdn Bhd (formerly known as
Tune Box Sdn Bhd) (“Rokki”)
Malaysia
83
73
Trading of multimedia content and
equipment
NOTES TO THE
FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017
[ ]
AirAsia Berhad
REPORTS AND FINANCIAL STATEMENTS
284