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Sslee
6,233 posts
Posted by Sslee > 2023-09-01 19:25 | Report Abuse
AAX balance sheet already fulfill the lifting of PN17 but the other crucial requirements are:
1. No injection of capitalA aviation with billions of liabilities; and
2. No default in payment by a listed issuer, its major subsidiary or major associated company, as the case may be, as announced by a listed issuer pursuant to paragraph 9.19A of the Listing Requirements and the listed issuer is unable to provide a solvency declaration to the Exchange
From CapitalA quarter 2 financial report:
36. Subsequent event
On 16 August 2023, the Thai Bankruptcy Court (“Court”) commenced the proceedings to consider the business rehabilitation plan of Thai AirAsia X that was previously approved by the creditors in July 2023. The Court concluded that they have gathered sufficient evidence and information to make a decision. The Court has scheduled to render a decision in relation to the rehabilitation plan on 31 August 2023. The total amount to be written off for the Group is RM231.5 million after considering the recoverable amounts under the rehabilitation plan.
However, a provision for doubtful debt of RM223.0 million has already been made, the additional impact to the income statement of the Group will be about RM8.5 million.