40. UNCONSOLIDATED STRUCTURED ENTITIES The Group has set up Merah entities, special purpose companies (“SPC”) pursuant to aircraft related borrowings obtained from various financial institutions. Under the arrangement, the Group enters into an Aircraft Instalment Sale Agreement with the SPC, permitting the Group to possess and operate each of the Airbus A320 aircraft financed under the facility. The SPC are orphan trust companies in which the Group has no equity interest. The SPC do not incur any losses or earn any income during the financial year ended 31 December 2021. The aircraft and the corresponding term loans and finance costs associated with the SPC have been recognised by the Group upon the purchase of the aircraft. The Group does not provide any financial support to the SPC or have any contractual obligation to make good the losses, if any. The details of the Merah entities are as follows: Name Incorporation Purpose Merah Satu Limited Labuan, Malaysia Aircraft financing special purpose company Merah Lima Limited Labuan, Malaysia Aircraft financing special purpose company Merah Enam Limited Labuan, Malaysia Aircraft financing special purpose company Merah Sebelas Limited Labuan, Malaysia Aircraft financing special purpose company Merah Duabelas Limited Labuan, Malaysia Aircraft financing special purpose company Merah Tigabelas Limited Labuan, Malaysia Aircraft financing special purpose company Merah Empatbelas Limited Labuan, Malaysia Aircraft financing special purpose company Merah Enambelas Limited Labuan, Malaysia Aircraft financing special purpose company Merah Duapuluh Limited Labuan, Malaysia Aircraft financing special purpose company Merah Duapuluhtujuh Limited Labuan, Malaysia Aircraft financing special purpose company Merah Tigapuluhsatu Limited Labuan, Malaysia Aircraft financing special purpose company All the above entities are in the process of dissolution. 41. RECLASSIFICATION On 27 January 2022, the shareholders have approved the change of the Company name to Capital A Berhad. The change of name offers a better reflection of the Group’s core business and its future undertakings in tandem with its rapid transformation as it has gone beyond its beginnings as an airline into a digital travel and lifestyle services group which continues to gain strong momentum. Following the expansion of the core business, to better reflect the revenue generation sources, the Group reclassified the digital travel and lifestyle services revenues from other income to revenue. The corresponding changes had been made to the revenue and other income of prior years as disclosed below: As As previously disclosed Reclassification restated RM'000 RM'000 RM'000 Revenue 3,131,213 143,186 3,274,399 Other income 471,561 (128,843) 342,718 Other operating expense (2,585,857) (14,343) (2,600,200) Restatement from prior year receivable and prepayments to trade and others payables on the reclassification of negative balance in prepaid agent for presentation purpose as disclosed below: As As previously disclosed Reclassification restated RM'000 RM'000 RM'000 Receviables and prepayments 903,294 201,775 1,105,069 Trade and other payables (2,307,125) (201,775) (2,508,900) 3 1 0 Notes to the Financial Statements (cont’d.) for the financial year ended 31 December 2021 C A P I T A L A B E R H A D
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