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 first quarter ended 31 March 2021 as follows: -

1. On 31 March 2021, USD0.4 million advances (equivalent to RM1.7 million based on the exchange rate of 4.1590 as at 31 March 2021) 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 25 January 2021, 24 February 2021, 8 March 2021 and 23 March 2021, a total of USD8.1 million advances (equivalent to RM33.7 million based on the exchange rate of 4.1590 as at 31 March 2021) was provided to PT Indonesia AirAsia (“IAA”) through its wholly-owned subsidiary, AirAsia Berhad (“AAB”);

3. On 24 February 2021 and 24 March 2021, a total of USD3.1 million (equivalent to RM12.9 million based on the exchange rate of 4.1590 as at 31 March 2021) advances was provided to AirAsia Inc. (“PAA”) by the Company, through its wholly-owned subsidiary AAB. 

(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 Big Pay, IAA and PAA. 

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 27 May 2021.

Note: The exchange rate used is based on the exchange rate of Bank Negara Malaysia on 31 March 2021 USD1: RM4.1590