TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RECURRENT RELATED PARTY TRANSACTIONS

Company Name CAPITAL A BERHAD
Stock Name CAPITALA
Date Announced 13 May 2022
Category General Announcement for PLC
Reference Number GA1-13052022-00067

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RECURRENT RELATED PARTY TRANSACTIONS
Description
CAPITAL A BERHAD (FORMERLY KNOWN AS AIRASIA GROUP BERHAD) (THE "COMPANY")

RECURRENT RELATED PARTY TRANSACTION ("RRPT")

The Company wishes to announce that the actual value of the following RRPT has exceeded the estimated value of the said RRPT disclosed in the Circular to Shareholders dated 31 May 2021 of the Company:-

 

Related Party

Nature of Transaction

Estimated Value

Actual Value up till 6 May 2022

Variance (Value)

Variance (%)

AAX

Purchase of

AAX's cargo

transportation

capacity by

Teleport

on routes

operated by

AAX.

USD

18,989,000

(RM

79,830,000)

USD 67,331,297

(RM

283,060,773)

USD 48,342,297

(RM

203,230,773)

254.58

The exchange rate is based on USD1 = RM4.204

 

The main reason for the variance between the estimated and actual values for this RRPT was the charter of additional planes; one extra plane throughout the second half of 2021 and two extra planes from the beginning of 2022 onwards as opposed to only one charter which was originally forecasted. The additional planes have contributed to a proportional uplift in revenue as well as cost. Jet fuel price escalation has also contributed to the increase with prices rising steadily throughout 2021 and steeply in 2022 on the back of geopolitical instability.

 

This announcement is dated 13 May 2022.






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