308 / 396
12. Investment in subsidiaries (cont’d.)
Additional investments in subsidiaries
The Company has made additional investments in the following subsidiaries during the year:
RM’000
BigPay
10,000
Rokki
2,500
RedTix
2,850
Big Pay
5,029
GTR
15,161
35,540
Additional subscriptions of redeemable preference shares (“RPS”) in BigPay
During the year, the Company had made additional subscriptions of RPS issued by BigPay amounting to a total of RM10 million.
Acquisition of non-controlling interest in Rokki
On 7 June 2017, the Company acquired 120,000 ordinary shares of RM1.00 each in Rokki, representing 10% equity interest in Rokki
for a total cash consideration of RM2,500,000. Pursuant to this acquisition, the Company’s interest in Rokki increased from 73%
to 83% and the financial effects of this transaction amounting to RM2.7 million is debited to retained earnings as disclosed in the
consolidated statement of changes in equity.
Dilution of interest in RedTix which resulted in no lost of control
During the financial year, the Company had diluted its effective equity interest in RedTix from 100% to 75%. This dilution did not have
any material impact to the financial statements of the Group and the Company.
Incorporation and subscription of additional shares in BPPL
During the year, the Company incorporated a subsidiary company in Singapore known as Big Pay Pte Ltd with 950 ordinary shares
amounting to USD90. Subsequently, the Company subscribed for additional 2,850 ordinary shares amounting to USD1,133,015.14
(equivalent to RM5 million). The incorporation and subscription did not have any material impact to the financial statements of the
Group and the Company.
Subscription of additional shares in GTR
During the year, the Company subscribed for additional 15,161,048 ordinary shares of RM1.00 each in GTR, representing 100% equity
interest in GTR. These subscriptions were settled in-kind by an asset injection.
NOTES TO THE
FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017
[ ]
AirAsia Berhad
REPORTS AND FINANCIAL STATEMENTS
294