AirAsia is pleased to announce that on 3 January 2017, it has incorporated a subsidiary company in Singapore known as Big Pay Pte. Ltd. (Company No.: 201700264W) ("Big Pay"), a private company limited by shares incorporated under the Singapore Companies Act, Cap.50 with its registered office situated at 50 Raffles Place, #32-01, Singapore Land Tower, Singapore (048623).

Information of Big Pay

The principal activity of Big Pay is to act as an investment holding company for the investment and provision of financial technology services.

The issued share capital of Big Pay is 900 number of ordinary shares amounting to United States Dollar Ninety (USD 90). The shareholders of Big Pay are AirAsia (83.3%), Christopher Paul Davison (11.1%) and Navin Rajagopalan (5.6%). The directors of Big Pay are Lim Eugene, Siegtraund Teh Siew Foong, Christopher Paul Davison and Navin Rajagopalan. Additional AirAsia nominee directors will be appointed on a date to be determined in the future.

The incorporation of Big Pay is not expected to have any material effect on the net assets, gearing, earnings, issued and paid-up share capital or substantial shareholders’ shareholdings of AirAsia for the financial year ending 31 December 2017.

None of the directors and major shareholders of the Company has any interest in the said incorporation, save for their interests arising by way of their directorships and/or shareholdings, as the case may be, via AirAsia.

This announcement is dated 5 January 2017.