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14. Investment in associates (cont’d.)
Material associates
The Directors consider TAA as a material associate to the Group. TAA is an operator of commercial air transport services which is
based in Thailand. This associate company is a strategic investment of the Company and form an essential part of the Company’s
growth strategy. TAA provides access to a wider geographical market and network coverage in the provision of air transport services
across the Association of Southeast Asian Nations (“ASEAN”) region.
Summarised financial information for associates
The tables below provide summarised financial information for those associates that are material to the Group. The information
disclosed reflects the amounts presented in the financial statements of the relevant associates and not the Group’s share of those
amounts. They have been amended to reflect adjustments made by the entity when using the equity method, including fair value
adjustments and modifications for differences in accounting policy.
2017
Summarised statement of financial position
TAA
RM’000
Current
Cash and cash equivalents
647,647
Other current assets
457,204
Total current assets
1,104,851
Financial liabilities (excluding trade payables)
(1,387,587)
Other current liabilities (including trade payables)
(38,614)
Total current liabilities
(1,426,201)
Non-current
Assets
3,477,292
Liabilities
(2,166,196)
Net assets
989,746
NOTES TO THE
FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017
[ ]
AirAsia Berhad
REPORTS AND FINANCIAL STATEMENTS
302