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 Business

AirAsia unit buys stake in Touristly Travel

20th April, 2017

KUALA LUMPUR: 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 Wednesday, AirAsia said, it had executed a share subscription agreement (SSA) and a shareholders agreement (SHA) with Touristly Travel.

“The SSA is for the subscription of 50 per cent ordinary shares in Touristly Travel and SHA, signed between the shareholders, is to govern the relationship between the parties of Touristly Travel,” 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 Touristly Travel have also signed a convertible loan agreement where AAIL will be providing a convertible loan of RM5 million, it said. –Bernama

   
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