STRIKING OFF OF AIRSPACE COMMUNICATIONS SDN. BHD., A DORMANT WHOLLY-OWNED SUBSIDIARY OF THE COMPANY FROM THE REGISTER OF COMPANIES COMMISSION OF MALAYSIA (“CCM”) PURSUANT TO SECTION 308(1) OF THE COMPANIES ACT, 1965 (“THE ACT”)
The Board of Directors of AirAsia Berhad (“AirAsia” or “the Company”) wishes to announce that it has on the date of this announcement resolved to strike-off AirAsia’s wholly-owned subsidiary – Airspace Communications Sdn. Bhd. (“Airspace Communications”) (“the Striking-Off). The rationale of the Striking-Off is that Airspace Communications no longer serves AirAsia’s current operational needs and by striking it off, AirAsia will be able to avoid future unnecessary costs of maintaining Airspace Communications.
Information on Airspace Communications
Airspace Communications was incorporated in Malaysia as a private limited company under the Companies Act, 1965 on 26 June 2007 with intended activity to serve as media owner with publishing division. It has an authorised share capital of RM100,000 comprising 100,000 ordinary shares of RM1.00 each of which RM100 had been issued and fully paid-up.
Airspace Communications has not commenced operations since its incorporation and has no intention to commence any business activities in the future.
Financial Effects to Strike-Off
AirAsia’s resolution to strike-off Airspace Communications will not have any financial effects.
Directors and Substantial Shareholders' Interest
Directors' Statements on the Striking-Off
It will approximately take twelve months to strike-off Airspace Communications and further announcements will be made upon the application has been made and the receipt of the notification for the Striking-Off from the CCM.
This announcement is dated 24th February 2011.