AirAsia Incorporates Wholly-Owned Subsidiary In Singapore

KUALA LUMPUR, Sept 20 (Bernama) -- AirAsia Bhd via its wholly-owned subsidiary, AirAsia Investment Ltd, has incorporated a wholly-owned subsidiary company in Singapore known as AirAsia Pte Ltd. In a filing to Bursa Malaysia (Malaysia's Stock Exchange) on Monday, it said the issued share capital of the company is S$1.0 million (S$1 = RM3.02) comprising one million ordinary shares of S$1 each. The principal activity of the company is airline operation services. The company will also act as a management services company dealing with relevant authorities and service providers in Singapore, it said. The directors of the company are Tony Fernandes, Kamarudin Meranun and V Loganathan Velaitham. The incorporation of the company is not expected to have any immediate effect on the issued and paid-up share capital or substantial shareholders' shareholdings of AirAsia. --BERNAMA