Pursuant to Paragraph 8.23(1)(iii) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Company wishes to announce that it had provided financial assistance in the form of advances to its associate and subsidiary companies during the fourth quarter ended 31 December 2022 as follows: -

1. On 25 October 2022 and 29 November 2022, a total of USD 6,000,000 advances (equivalent to RM 26,478,000 based on the exchange rate of 4.413 as at 31 December 2022) was provided to Philippines Airasia Inc. (“PAA”) by the Company, through its wholly-owned subsidiary, AirAsia Berhad;

2. On 7 October 2022 and 17 October 2022, a total advance of RM 9,203,311 was provided to AirAsia Superapp Sdn Bhd (“Superapp”) by the Company.

3. On 25 October 2022, 11 November 2022, 25 November 2022, 2 December 2022, 13 December 2022 and 27 December 2022, total advances of RM 1,216,928 was provided to AirAsia Ride Sdn Bhd (“AARIDE MY”) by the Company, through its subsidiary, AirAsia Com Travel Sdn. Bhd. ("ACT");

4. On 11 October 2022, 25 October 2022 11 November 2022, 25 November 2022, 13 December 2022 and 27 December 2022, total advances of RM 1,448,588 was provided to Ourfarm Asia Sdn Bhd (“OURFARM”) by the Company, through its subsidiary, ACT;

5. On 11 August 2022, an advance of USD 250,000 (equivalent to RM 1,103,250 based on the exchange rate of 4.413 as at 31 December 2022) was provided to Velox Technology (Thailand) Co Ltd (“Velox”) by the company, through its subsidiary, ACT;

(Collectively, referred to as “the Financial Assistance”).

The Financial Assistance provided was in the ordinary course of business and to facilitate the running of the operations and financial affairs of PAA, Superapp, AARIDE MY, OURFARM, and Velox.

The Financial Assistance provided does not have any material effect on the earnings per share, net assets per share and gearing of the Company and its subsidiaries.

This announcement is dated 28 February 2023.

Note: The exchange rate used is based on the exchange rates of Bank Negara Malaysia on 31 December 2022 - USD 1: RM 4.413.

Announcement Info