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 a corporate guarantee and advances to its associate and subsidiary companies during the fourth quarter ended 31 December 2020 as follows: -

1. On 9 November 2020, 20 November 2020, 25 November 2020 and 21 December 2020, a total of USD4.6 million advances (equivalent to RM18.6 million based on the exchange rate of 4.039 as at 31 December 2020) was provided to Big Pay Pte. Ltd. (“Big Pay”) by the Company, through its wholly-owned subsidiary, AirAsia Digital Sdn. Bhd. (formerly known as RedBeat Ventures Sdn. Bhd.);
2. On 19 November 2020, the Company had provided a corporate guarantee amounting to USD19.1 million to BDO Unibank Inc. in favour of Philippines AirAsia Inc. (“PAA”) in view of the restructuring of the 3-year loan of USD35 million; and
3. On 29 December 2020, the Company through its wholly-owned subsidiary AirAsia Berhad (“AAB”) had provided AirAsia Inc. with a corporate guarantee and cash advances amounting to PHP990,934,550 (approximately USD20 million) to Citibank Philippines and in support, had pledged one of AAB’s spare engines for the uncommitted short-term revolving credit facility applied for by PAA,

(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 and Big Pay.

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 26 February 2021. 

Note: The exchange rate used is based on the exchange rate of Bank Negara Malaysia on 31 December 2020 USD1: RM4.039