AirAsia sets up new firm in Thailand to provide services to its subsidiaries

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KUALA LUMPUR (Sept 14): AirAsia Group Bhd said it has set up a company in Thailand to provide consultation and services to the group’s subsidiaries and associates. 

The new company, AirAsia Group (IHQ) Ltd, has an issued share capital of 20 million baht (RM2.5 million), comprising 200,000 shares.

AirAsia holds 199,997 shares in the company, while three other individuals hold one share each, the low-cost airline group said in a stock exchange filing today.

The incorporation of the new company is not expected to have any immediate effect on AirAsia’s issued and paid-up share capital or substantial shareholders’ shareholding, the filing added.

The establishment of the new company is also not subject to approval of the group’s shareholders or the Malaysian regulatory authorities, AirAsia said.

Shares of AirAsia closed up three sen or 0.97% at RM3.13 today, giving the group a market capitalisation of RM10.46 billion.