Malaysian National News Agency

AirAsia Unit Buys Stake In Touristly Travel
April 19, 2017 19:18 PM
KUALA LUMPUR, April 19 (Bernama) -- AirAsia Bhd's unit, AirAsia Investment Ltd (AAIL), has acquired a 50 per cent stake in Touristly Travel Sdn Bhd.

In a filing to Bursa Malaysia Securities Bhd today, AirAsia said, it hadexecuted a share subscription agreement (SSA) and a shareholders agreement (SHA) with TouristlyTravel today.

"The SSA is for the subscription of 50 per cent ordinary shares in TouristlyTravel andSHA, signed between the shareholders, is to govern the relationship between the parties of TouristlyTravel," it said.

The shareholding ratio of the parties stood at AAIL (50 per cent), Aaron Ram Sarma (20.7 per cent), Jeffrey Saw Meng Lai (13.6 per cent), Wong Chin Kit (1.4 per cent, Netrove Ventures Corp(9.6 per cent) and Tune Labs Sdn. Bhd. (4.8 per cent).

AAIL and TouristlyTravel have also signed a convertible loan agreement where AAIL will be providing a convertible loan of RM5 million, it said.


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