AIRASIA-Page 79 to ProxyForm (2.5MB)

8/22/2019 AIRASIA-Page 79 to ProxyForm (2.5MB)

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pAGe >

80AirAsiA BerhAdAnnuAl report2010



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pAGe >






In 2010, AirAsia Thailand increased its capacity

by taking delivery of eight new A320 aircraft

to become a full-edged Airbus carrier with a

eet size of 19 aircraft. Which means the airline

helped over 5.7 million guests from Thailand to

reach new destinations such as India, China and

other unchartered ASEAN destinations.

Wat Arun Temple, Bangkok, Thailand



THailand >>

celeBraTinG a new all-a320FleeT the yeAr sAw AirAsiA thAilAnd Add six new

routes to its existing 26, increAsing its network connectivity to 32 destinAtions.

AirAsiA BerhAdAnnuAl report2010

pAGe >

84



t ya 2010 wa a g AAa taa. iwa ya wc a

cm cv aa-Ab A320 f a w x-ya- cmay ab.

AAa taa ca v 33% thB12.39b, w mvaa cc a thB2.85b, g gw 452% m 2009. t maagma mac, cay mv gv ca cy a wa vaag f abg taa a a ocb. AAa taa a

c c g aac, wc ab abg by m away

g .

A - cmay a ta tV wg a ma t w a g way wa bg mag AAa taa. pagnowequatetheairlinewithbrand-new,qualityaircraftanda a y a gga va my by fyg w-c ca. A a 5.7 m g fw a 2010, makg aca 14% ya--ya, acbg a avag aac 78%, m 76% 2009.

>rv

THB12.39bil

>n p

THB2.85bil

pAGe >




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cm a

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2011, wc wa

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ChinaNew Delhi

Kolkata

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Bangladesh

Philippines

Malaysia

Laos

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Myanmar

Indonesia

Thailand

Jakarta

Singapore

Udon Thani

Hanoi

Chiang Mai

Chiang Rai

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Guangzhou

Yangon

KualaLumpur

KotaKinabalu

Bangkok Cambodia

Indian Ocean

Phuket

Hong Kong

Bali

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Phnom Penh

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Penang

Hat Yai

Macau

Ubon Ratchathani

Surat Thani

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.

Tassapon Bijleveld

Chie Eecutive Ofcer

AirAsia Thailand


pAGe >

86





With four hubs in Indonesia and adding new destinations

in other ASEAN countries, AirAsia Indonesia is poised

to increase passenger trafc throughout the region. In

fact, by striking the right balance between domestic and

international routes, which is key to increasing yield and load

factor, the airline ew close to four million guests in 2010.



Borobudur, Java, Indonesia



i 2010, AAa ia a

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- 2011. W vg ky

mc , a a

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w ac sga,

Maaya, Aaa a Vam.

A a a aggv

aa xa

a, ac w

aa , sabaya–Bagkk, sabaya–pag a

Ba–daw, a a a

m ay fg g-y

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sabaya–Kaa lm, Ba–

Kaa lm a Ba–p.

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amg Aaa a

a a aab aa

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a a cb

ay fg m p.t av cb

a ca mb

ag fw, 70% wm

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v a wg

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a acc. t eu

cay g a ba AAa

ia Jy 2010, ag ea mak

amb a.

i a aa

xa, AAa ia

cc sabaya w Ma

andincreasedthefrequencyof

a Jakaa-Ba

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a.

AAa ia c a

v idr2,764 b 2010, by 37% m

idr2,016 b acv

2009. d a k 15%

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3,921,039, w a

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77%. t a gabb

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gwg 81% ya--ya,

w a avag

ag idr123,308. F

ya, AAa ia

ga idr474.41 b

, cg gw

351% ya--ya.

As pArt of An Aggressive internAtionAl route expA nsion plAn, it

lAunched three new internAtionAl routes, surAbAyA–bAngkok,

surAbAyA–penAng And bAli–dArwin, And Also Added one more dAily

flight for high-yield internAtionAl routes such As surAbAyA–

kuAlA lumpur, bAli–kuAlA lumpur And bAli–perth.


pAGe >

90



indoneSia >>

Truly inTernaTional airline

>rv

IDR2,764bil

>n p

IDR474.41bil

pAGe >





pAGe >

92



t a c agy

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B lw C A a

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Prospects

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removedtherequirementfor

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Indian Ocean

Banda Aceh

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Jakarta

i 2011, AAa ia

g a

b, cay Ba a

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w-c a’. A a a

ba acm camag,

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w cag va ym.

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g ma w a vy

mc ab wa aa

AAa ia a k

wa vg m g

xcg m.

Captain Dharmadi

Chie Eecutive Ofcer

AirAsia Indonesia

<n. Aca

18<n. hb

4(1 a 2011)

<n. pag

3,921,039


pAGe >

93



Massive and grand in stature, the Omar Ali Saifuddinmosque is located in the centre of Brunei’s capital, Bandar

Seri Begawan. We serve 14 weekly ights to Bandar Seri

Begawan from Kuala Lumpur, offering our guests an

opportunity to experience the richness of its economy,

culture and royal heritage.



Omar Ali Saifuddin Mosque, Brunei Darussalam



A irAsiA X >>

THe Sky’STHe limiT AirAsiA x flew 1.92 million pAssengers, up 86%.

AirAsiA x Also broke through the 10 billion

revenue-pAssenger-km volume growth

(up 74% from 2009), mAking it the second-lArgest low-cost cArrier in AseAn in rpk volume, After

AirAsiA, And the fAstest growing Airline. loAd

fActors were kept consistent At 77%.


pAGe >

96



AAa X cm ya a 2010 abk g rM1 bv ba w a rM1.3b - acvm, a77% gw m 2009.

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ag cca aby a 99.51% A330 f,validatingthequalityofits

ag m.

W w aca caacy,AAa X xa wk aggvy 2010, ag v w :Mmba, nw d, ta,s a tky. A w c a pa aCcc ay 2011,AAa X w v 15a, ccg AAa’xv AseAn wk ag gw mak ac Aapacc a e. AAa X c xaagy c y mak Aaa/nwZaa, Ka, Jaa, Caa ia v x ya.

pag ba a acvw rM519, a ag-a acay cm aa rM119 ag,a gw 73% m 2009.Cag v gw by 113%v 2009, cbg 4% a v. W 22% v cmg m acay cm c, AAaX c k way

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18%. i gag a a cmw m 3.55 2009 1.44 2010. oag ca fwgw by 37%, cag cabaac rM356 m.

havg acv ccm ca m a, AAa X mbak a w gaaa agy a a a-a a w cg a AAa ba.

Azran Osman-Rani

Chie Eecutive Ofcer

AirAsia x


pAGe >

97



From the ruins of Angkor Wat in Siem Reap to the

bustling nightlife of Phnom Penh, AirAsia provides a

great link to Cambodia for our guests. Something we

have been doing since 2005.



Angkor Wat, Cambodia



THe SocialneTwork

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ac ay wg a fw away a way - bca y ca, wAAa.

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cam g . A b w wa w ck. AAa, maw, wawa by , wcam b a w a j ay b; w a b cagg v.

facts at a glance

>n. tw Fa

>150,000

>n. Facbk Fa

>1.3 million


pAGe >

100



sociAl mediA hAve become An integrAl pArt of

AirAsiA’s business model, forming A new dimension

of our extensive use of technology for greAter

efficiencies.

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o ay ca ma

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W w ac AAaFacbk A 2009, maagm xc gaa a ba a 50,000by ya . W acv ba g. By A 2010,ourFacebookhadacquiredawg 250,000 a, am wc w cbaw a xcv w-acamag ac .Maw, w bga ca wk Facbk accby g ag

c. W w av11 Facbk ag ca. i Ca, w a c Facbk, wuseRenRen,thelocalequivalent.By nvmb 2010, AAaG a m a 1 mFacbk a.

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maw, a acv w w mak, cay va gba bag AAa. AAa amy a cma cva abm ac a ba vaga ma a cay a c gag ca ma a ag ca a m a a amb vc.

AAa a away b

’ a. W a v v, aca aca tay, w ca ma, w a w ca gc cmm. a ab a m a am ay way b. Aa j a AAamagc.


pAGe >

101



a liFeSTyle

Brand<

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THB310 ax taa

IDR123,308 ax ia

>

18% a cm macay b

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nx, va w wa c by AAaMga.cm, g v 15,000m m av a c bk,a aa a v m éc,a awg a gba mak a cvc. t a wa cby g AAa Mga lCC tma Kaa lm.

t ac a ba AAa’ acay b, wc a gca c cm G,accg 18% a v 2010.t cm am a b v,

yca AAa y, b a c-cv ab, va av bg -c w-c. Acay cm y b a’ v b a v a aag aga ay ca c .

o a -ba y avm abv, AAa a acmm-ba cm m c-bac ca w Cbak, a w a vy CiMB AAa sav Acc . ia, v m v m a -G vc a m acv cy ac J J Cb.

A maj c acay cm ,wv, fg-a. G mv

cb gcay AAa’ acay cm by akg avaag xa mak av m jyab aa-, c a av ac, cg a avac, g ma fg a xa baggag.


pAGe >

102



i May 2010, AAa ca w-w p-bk Baggagsz a wc gw -bk baggag ay 50% a w ay a c. ev w c, 2010, g a a rM290 m baggag z a xcbaggag. F a bvag ba a c ay v a, aAAa Caé a bcm kw g ‘gay’ ca a,c a pak na’ na lmaka uc C’ Cck rc.t k gwg c cm, c ama maa v mvonthequalityofthefood,and xa m. i 2010,AAa c a g, cg vgaama. i a aa w Fa & navhg B 26 Jaay

100plus a Ck aAAa fg ag mMaaya bgg 1 Fbay.

pag acay vc ca ac aAAa a 2010 - 39% rM44 ag Maaya, 62% thB310 ax taa, a 60%

idr123,308 ax ia.t avag agwa rM44.9 a ag gw rM60 ax 2011.

A gwg AAa’ cmm Cag & C svc.Caag by ac aca, a xvfg wk a g fgfrequencies,AirAsiaisnotonlyab cay cag b ca a c caby wa a cag ca,a w a a vy m.t g Cag &C b, a w m cag ag a agx-m m maka f , w acgmak by wk- s Aa, Aca, Mea a e - g ca-a agm w a. AAa’ Cag & Csvc y g

a w v arM130 m 2010, b aa a A Cagiy nwcm YaAwa 2010 a ACW W ACag Awa.

i a, AAa aacay cm m aacavg, amy avg

Travel3Sixty fg maga a aca, a w wb, a m cafg. A a ca mb fg, a xa wkva acay bb b, ag AAv a .

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ga w aay ag a cbacay cm g infancy,itwilladdtothequaba xc a AAgy a .

OuR anillary seRvIces

Baggag sz Gvm a Ca fg vcAAa Cag CiMB AAa sav accAAa C J J Cb MmbAAa Ca (-fg F&B) Mca a y

(cg AAaMga)

AAa i (av ac) AAaG.cm (ay-bkg a)

pck A sa AAa C Cae-G Vc Aac avgCa fg AAa rtx (ck-bkg a g v,

cc, mca, a mac a m)


pAGe >

103





Love is inthe air

“ It was a memorable

moment to have ourwedding reception in

the aircraft 30,000ft

above sea level. What a

wonderful moment and

journey for us to realise

this dream. ”

Iswara (Allstar) and Thanusyia

now everyone can y



our GueSTS

are ourprioriTy

sc 1 A 2010, AAa

a y a cmvMc-ba Cmra Maagm(CrM) ym wc ga va a, vc amakg av ag am, awg G ac w g a m m ba a a vc mva g’ .

t ma c AAa’CrM ac g’xc by mvg a ccy vc

a vy ac bwg a a – mva a cck-, baggag ag, bag a-fg vc v a a cv toqueriesandfeedback.At a, AAa avy a a agcca v --aac g. t

a a svc C

a a aenquiries.Meanwhile,asmorea 80% a a acv, a g y avy maag bkg, va avw mm v ya ab g mm c g AAawb a av m jy b.

Web and Sel Check-Inacilities. i Jaay, AAac cc wba cck-. Wb cck-

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New Skies. t w va

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g AAa’ z-acamag.

i 2010, AAa a cw mb a ma wc ma bkg---mv m cv.

facts at a glance

>lacg

airaia.om/ak

>o a

77%


pAGe >

106



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in certain jurisdictions. RBS Securities Inc., a registered broker-dealer and member o FINRA/SIPC, is an indirect, wholly owned subsidiary o The Royal Bank o Scotland plc.

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Instant Foreign EchangeCalculator. i May, AAac a amama-va aym , rBsFXmcay, wc cc a’ bkg ymw ccy ag k rya Bak sca(rBs). t aw g wmak bkg kw xac aac c ay avaab cc. Aacay aacv a g cvc bgcag am ccy wc y a b my c ca am.t vc cy avaab v gba cc – e,p sg, nw Zaaa, sga a a usa. i a, ymav g m ccy cv .

Fly-Thru. t vc awg m fg m a g cck- ga a ccgfg g g aa a. t bmm Jaay 2011,Fy-t w b avaab

av c -aAAa a a g-a AAaX fg ag g Kaalm wc gaa wa fg av accg m bw90 m a x .

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A , AAa mathequalityofCustomerCaremac accg Cm Ca c’ my g’ cc.t ag a m a b ay,

wc m. A a mvm, a addingadimensionofqualitytothispurelyquantitativemam. M ccay, w k gag v g aac w vc v by CmCa c. hc, g w b w by acm aac vy thatasksquestionssuchas:‘A y a w responsestoyourqueries?’and‘Wereyourquestionsansweredadequatelyandprofessionally?’

AAa’ CrM av av va awa, maby bg am W’ B lw C A by ag by skyax 2009 a 2010. t a cmmm aa m a 8,000

Aa a vav cgy. AAacg cb a cgy, aw c v b a maa baabcmba w-c aandhighestqualityservice.

the mAin focus of AirAsiA’s crm is to enhAnce the

guest’s experience by improving the speed And

efficiency of service At every interfAce between

guests And the Airline – from reservAtions Andcheck-in, to bAggAge hAndling, boArding And in-

flight service to the provision of rApid And effective

responses to queries And feedbAck.

pAGe >




a llSTarS,every SinGle oneequAlly importAnt is the right Attitude - An openness to new

ideAs, willingness to do things differently And the Ability,

when things get tough, to try And try AgAin.

C dam wa 2004 cag am va a v

ac G w a ma ‘one pone C, one AAa, one Famy’. Va acv a , mm v vvAa’ c, c g bgg.

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xc. F a w ay vy m, GCeo m cck g a c, baggag am a v wk ak c w wa’ ag ga a.

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W w ay w va a, w’ ayg vc. A AAa w cg a

av ma wa w a ay. ty av by , g g m a ba, a w a, ca a acy av k AAa ba fyg. Bca w y a,a wa AAa a , w ma ‘my’; y a Aa. A wa m a c.

o y a AAa aac b,a m a a m. By b, w j ma w m mvpaperqualications.Equallyimportantistherighta - a w a, wg g y a aby, w gg g, y a y aga. W ak a c w a ab Aa

c, wc ab ay, bg vav acav, wkg a a avg . A Ca


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A a bjcv Aa, y a cag ay ay vacacy avby AAa, ay xay. Wv b, Aa a gv c v xacaa. Ba mac, Aa a a by maag, v g vmaagm, a vm. evy ya, w ab rM15 m ag . lyay a mac a gy va a wa y w y a-ackca b a by aacv b a ay cm. Ga a ac Aa a macma aga ga a ga va. A ya , mac k b acm a w a m. Gv AAa’ a gw, a g-fy c caab, a ak ga by.

lk a, w a a am a w av b ab am ay, wcag Aa am mb. A w w m a, a AAa, vyg b.

> all For one

one For all

>

Go TeamGo allSTarSGo airaSia

>wHaT airaSia

culTureSTandS For

We are many things,but together we are one AirAsia

caringpassionate

ull o integrity un

saety conscious

hard working

unifed by one dream


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110



Congratulations to AirAsia

on your continued growth.

CAE is proud to be AirAsia’s training partner.

Future AirAsia pilots: the 1st graduating class

of the CAE Multi-crew Pilot License program, May 2011.



www.aviationaustralia.aero

EXCELLENCE IN AVIATION TRAINING

Aviation Australia trains and provides

aircraft maintenance engineers and flight

attendants to international standards for

the global aviation industry.

Aviation Australia is proud of the

licensed maintenance engineer workforcedeveloped in partnership with Air Asia.

AVIATION AUSTRALIA - AIR ASIA’S AVIATION TRAINING PARTNER

CONGRATULATES AIR ASIA ON ACHIEVING 2 TREMENDOUS MILESTONES



We put at your disposal our expertise that has become the

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the world of Islamic Finance. By also introducing the pioneers

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www.kfh.com.my 03-2056 7777



our SaFeTy

commiTmenTAAa a cmm a gamm cg k aaza may aca w y g a say Maagm sym. t cmmm x ga a ay c, ay cy a ay bjcv a acv aac ava ay. i , say Maagm sym j a a- b a c a

b c. i way w b.

t cca ay c maagm a aa agy a a. s maagm w v a vforsafetymanagementandprovideadequateresourcestoachieve

v ay.

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g c by a my. A j g ym m amwk a wc say Maagm sym

b. i a vc g a aza a ay cca bg a w av ay mak cag. i g a cay ac w b akaga ay my g a ay aza cc cmay’ maagm. i g a a a mmb wb ak cmm ay aa ‘g jb ’.t say Maagm sym aac a ay a accaby c-x.

tag my y ca m ak aa a c ma a a g AAa’say Maagm sym. i maagm’ by mak avaab a cay ag, a my’by w a wkg acc.

t ma by ay cmay w ma C excv oc/Accab Maag. Maw, by makg a a vy w ac – m a am a/ maag - my. eac a am a/ maag b mmg ay maagm ym aa by, a w b accab a a aab a ak v c a

acc. eac w b cc ay gaa.

o b w b g by makg ay xcc aga a a ava acv. say a c va cmay, a w bv vg my a gw a a vm. A my m cmy w cy.

corporAte sAfety commitment


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say gv y a acv.W a cmm vg, mmg,maag a mvg ay agy,maagm ym a c a a ava acv a ak wbaac c aca, am a acvg

g v ay mac amg g aa ay aa.

A v maagm a accab vy g v ay mac,ag w C excv oc.

o cmmm :a) dv a mb a ay c a

ava acv a cg mac a va cv avaay maagm a ackwg a am a ay aam.

b) Cay a a accab

a b vma vy ava ay agy amac.

c) e a a a a v wadequateandappropriateaviationsafety

ma a ag, a cm ay ma a a y aca akcmma w k.

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ac ak.

) e a c k a ac a away avaab mmay agy, cy a c.

) eab a ma ay aga ac bjcv a/ ag

g) e a xay ya vc a mac a a m aa aaa.

) Acvy v a mv ay

c cm w caaa a cmy w a, wvb, xc gav a garequirementsandstandards.

) F a cag maxmm vg a aacy w -ay/aza g a avg a jc a.

Dato’ Sri Dr. Tony Fernandes

Group Chie Eecutive Ofcer

sAfety policy stAtement


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“ Since I’ve known

AirAsia three years ago,

my family’s fate is

changing. We travel

overseas by AirAsia,

twice a year or at least

once a year, thanks to

the generous never-

ending promotions and

low fares. ”

AmazingBargains

Nina

Singapore

now everyone can y



a n airline wiTH

a GianT HearTthe free seAts cAmpAign is but one of the myriAd wAys in which

AirAsiA gives bAck to the community – Albeit being one of our

more spectAculAr And unique contributions to society.

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m cmmy v.ta ama b aacwa ca by g AAa. i ma mac vy ac b, makg caby a caacc vyg w .

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a ya). Qck: Wc cmay, b AseAng w, gv away m c vy ya? Wy w ? Bca w a ca vg v; bcaw a cmm ag cc w cmma aw a m; bca w ca cac ay caa ag, ’nwevy Ca Fy’ – a, y’cky, !

t a camag b mya way wc AAa gv back cmmy – ab bg ourmorespectacularandunique

cb cy. B ’ y g w . i w y waca by – wcg by ay makg a v c v cmmy –

AAa a amg a g a g a– a aca w – w cmmy m .

h a a c xam:AAa wa

vaca Maaya Ca w ca mck egy. A ackwgby Maaya pm Mm, w wy k a aagg c ma may aw g AAafg m Ca a Axaa Ja a m Ja Kaa lm – ckg 2,380Maaya m a ag za vg m am v Maaya. o

a mwa amac ,b j a cca a c m AseAn, AAataa wg ac a v a va aa acy w wa a by

w f xc 50ya.

The Heart O Asia

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w a b av caba w ia r C scy.t a a a m aca b amggg b vwg aa a

by ag c c. i taa, w c aca sca oymc sga a ga a bac pk cm va cay cCw Bb h c Kaayavaaa,Cag Ma. t w-ay waa xc c wv g, a y a vb b a a ca.


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sc 2008, AAa g ab g a Donate Your Loose

Change camag a y a m g g am a naa ha i (iJn) Kaa lm. i Jy 2010, gamm b -ya-

i Waya Aya a Aaaa mBa, ia, w wa c a cga c a c xyg-cayg caacy b. W am cam m gg AAa fg, a a aa iWaya Aya a a.

W a a C’W scy (CWs) w c w -ag a. i 2010,w wav magc wa c M, saawak, wa 10-ya- dc Mca

dyy a, Mammana oma, v. na w av ay mmw a a a a may ama a c.sc ’ a z saawak, 15 ocb 2010,AAa fw bamg na

a a Kaa lmw y v Z ngaaandtheAquariaKLCC.

o c Aa.AAa j a w u na C’ F(uniCeF) a vcmoftheearthquakethatstruck

HaitiinJanuary2010.Byquickly

abg a k wbg wc bc ca my, AAa ca m c a am cy a’ackwg a W m.

o vav aac ca by – w ca w aca a amby Aa – b ak a b AAa w cmm v.

Grooming Local Heroes

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AseAn Bakba lag– g’ y ag ay . W’v g a -ya a wp pa bakbaam, aga cam ABl, b xc. o c g

yg bakba a AseAn bcm w-ca– ma a g w ca a a w m .

W av a c m , a aa ww bv Aa ca cmvy cvy c wac yca z bma a mi 2010, w wk w sag iaa Cc w , MaayaMamma Zam Ka(Fam) a sa Fagam nway, 2010 MW Cam. t 1 Fam y cMaaya v aca MGp. i a gacvm, bk 20 Maaya M 2009, bcmg w wca aca a a – a caacvm gv a bga acg ay

ag. Fam a c cm a, cg , a bga ca MGp M2011. h mac v b a Aa cacc w m y a gv cagm a


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i May 2010, AAa ac AAa-tam l dvdvm pgam, caag a w Fma 1 tam l. Bggw j w yg c mAseAn – nab J m Maayaa dam hamm m

sga - gamm agw c v ayg, wm a m g. t bjcv x tam l cac a agv, a y m w cam.

A va v, AAa a a mb Maayag a a c vm. t ambaac ay, aa cck c a Asa, y Maaya av ay ca cck ega. A a ay sm Cy – ega’ am – a ya a w a ega a agv. t 26-ya- Maayaa cy by bg cb a b ega.

h a – makg

cmmy a agAseAn a a vy cmv vm.

The Best To Our Guests

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cc a va-a

va. Fm m wbga a a w Aa g ck w a bkg, wav a a cag cgy-ba ga mak m cv g bk fg amaag av. sm cm-a vaav v b w .W w sMsbkg 2003, w by a cmv ym bkg va mb a

w vc 2004.

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W acvg

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aa avag 73%.

See The World, Save The Planet

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c wc m

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a a vm by

cg cay aag. o c, , a ac a a b.

An Allstar Workplace

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xc a y.i’ a aac a a AAa bcm mc-vy a a ay – a wy w a my cc cav a a-wkg Aa.

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c a ca c a bcm . i 2005, w AAa Acamy ww a y b ag, cab cw a .Theacademyisequippedwiththe

mostmoderntrainingequipment,

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g -ay a.

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Saety First

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The Macau route is an important gateway to China.

When our rst ight departed from Kuala Lumpur on15 December 2004 with a full load of 148 guests, we

knew it was the beginning of an incredible journey.

Today, the AirAsia Group is the largest airline servicing

Macau from Kuala Lumpur and Bangkok



St. Francis,



STaTemenTon corporaTeGovernance

the boArd of directors of AirAsiA is committed in ensuring the highest stAndArds of

corporAte governAnce Are Applied throughout the group. the boArd considers thAt it

hAs complied throughout the yeAr under review with the principles And best prActices

As set out in the mAlAysiAn code on corporAte governAnce (“the code”). the following

sections explAin how the compAny Applies the principles And supporting principles of

the code.

A. directors

Roles and Responsibilities o the Board

t Ba a a cv c v aa Cmay a G a a am wg cv Ba a cag a b:-

• ReviewingandadoptingastrategicplanfortheCompany;• ApprovestheCompany’sannualbudgetandcarriesoutperiodicreviewoftheachievementsagainstbusinesstargets;• Identifyingprincipalrisksandtoensureimplementationofappropriatesystemtomanagetheserisks;• OverseeingandevaluatingtheconductoftheCompany’sbusiness;• Successionplanning;• Developingandimplementinganinvestorrelationsprogram;and• ReviewingadequacyandintegrityoftheCompany’sinternalcontrols.

Board Balance and Meetings

t Ba dc c (9) Mmb, a a gv ag 42 47. o (1) Ba Mmb n-excv Cama, w (2) a excv dc a x (6) a n-excv dc. Fv (5) n-excv dc thecriteriaofindependenceasdenedintheMainMarketListingRequirements(“MMLR”)ofBursaMalaysiaSecuritiesBerhad(“BursaMaaya”). t g i n-excv dc (m a -) v cv cck a baac cg Ba.

t Ba a am s i n-excv dc wm cc may b cvy, cay a Cama y cag Ba mmb acvy aca Ba mg.

t Cama a G C excv oc (“G Ceo”) a G dy C excv oc a aa w a cav by bw m.

t z, baac a cm Ba Ba’ , wc m g m c a agy

G, ca va a, m acvm b bjcv, a g ca gvac ac a a G m b a, ak a g.

t n-excv dc a g cab a gy, a y ccvy c xc may ac, Gvm a va c a bg w a va cmmca xc Ba a Cmm ba. tn-excv dc v c m a a a cay m . o a cmmmoftheNon-ExecutiveDirectorsareprovidedintheirbiographiesonpages42to47.TheBoardrequiresthatallNon-ExecutiveDirectorsare caac a jgm w aca ay--ay maagm Cmay a vv mv b aac a w G, cmm bjcvy.

Ba mg ac aca ya a c w aa b cg aca ya a dc ca aaccgy a ya’ Ba mg cv c.


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STaTemon corpo

Governa

dg aca ya 31 dcmb, 2010, Ba dc a a v (5) mg a a dc’aac a bw:

Name: No. o Meetings Atten

da’ Ab Azz @ Ab Azz b Ab Baka 5

da’ s d. Ay Fac Fa 5

da’ Kama b Ma 4

C Mc Cay 3

da’ lg sy @ lg K sg 5

da’ Fam l e 5

dak Aa b A 4

da’ Mam Kaa b Mca 4

e. M oma b Maa1 n/A n 1

Note 1: En. Mohd Omar bin Mustapha was only appointed on 16 March 2011

Supply o Inormation

Fv (5) ay Ba Mg, a dc w cv aga a a Ba a cag ma ba a Ba Mg. t acc c m dc vw Ba a a k caca theymayrequirefromtheManagementortheCompanySecretary.UrgentpapersmaybepresentedandtabledattheBoardmeetingsunma aga. t Ba mg a a a cc a cmv ma. Ba mg a ab DirectorsincludeprogressreportsonbusinessoperationsbyGCEO;detailedinformationonbusinesspropositions;quarterlyandannualaca am, ca a cg w va, g cm c a k vaa a a avm c av a c’ ag c, ay. i maa cay, mg a ca a wc a m maa a c-v w b a dc a Ba mg. tCmay scay a a Ba mg a y cv, a a acca a c cg a a a c a maa ay g a g c Cmay.

A a G acc, ay dc w w k a avc ac may a G’ x. dc av acc a ma a c G a a avc a vc Cmay

scay, w a v a caacy va Ba Cmm. t Cmay scay a v c dc c ag AAa Ba a, accac w back- a Ca 14 dag sc MMlr Ba Maaya.

Appointments to the Board

t G a mm c ma a c dc va nma Cmm. t Cmay scw a a am a y ma, a a ma cay ba, a w a a ga a gay bgaa m.


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Directors’ Training

A dc av a Maay Acca pgam cb by Ba Maaya.

dc a gay a G’ b a cmv a gay vm wc y a. dc,cay wy a , a cag v Cmay’ ag c av a g Cmay’ awc c a Ba mak cv c.

F ya vw, dc a cgy k aba w vm mak ac w am acg

k, kwg a xc.

Amg ag gamm, ma a bg a g ya w a w:-

Name: Programmes

da’ Ab Azz @ Ab Azz b Ab Baka • IBM2010GlobalCEOStudy • EveningTalksonCorporateGovernancebyBursaMalaysia

da’ s d. Ay Fac Fa • Y1Malaysiaroundtablediscussion• TurnerAsiaPacicLeadership• InvestMalaysiaRoadshowwithBursaMalaysia• 2010NationalTaxConference• AsianBloggersSocialMediaConference• Y1MalaysiaSeminar

• PemanduCEOForum• 1stAnnualCreditSuisseEmergingMarketsLeadershipForum• On-goingprivatebriengsonnancialmarketsbyAirAsia’skey

bak

da’ Kama b Ma • On-goingprivatebriengsonnancialmarketsbyAirAsia’skeybak

da’ lg sy @ lg K sg • ForumonFRS139FinancialInstruments:RecognitionandMam

• WorldCapitalMarketsSymposium2010

da’ Fam l e • ForumofFRS139FinancialInstrumentsbyBursa;and• SC-BursaCorporateGovernanceweek29/10/10

C Mc Cay • RaymondJamesGrowthAirlinesSeminar

dak Aa b A • 6thWorldIslamicEconomicForum• Understandingrelatedpartyandconictofinteresttransactions

g cmac a say vav ac Maaya

da’ Mam Kaa b Mca • BoardHighPerformanceProgram–LeadershipBestPracticesbyhava B sc, u sa

• FinancialInstitutions’Directors’RemunerationProgrammebyBak ngaa Maaya

• BriengonGlobalEntertainment&MediaOutlook2010bypcwaC

AllDirectorswerealsoupdatedbytheCompanySecretaryonchangestotherelevantguidelinesontheregulatoryandstatutoryrequirements.


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Re-election o Directors

t Ac Aca Cmay v a a a - dc a bjc m by a a ac AGa Mg (“AGM”) a a a dc a c vy ya, a a gb mv -c. Ac Aca a v a a dc w a by Ba c ya a b bjc -cthenextAGMtobeheldfollowinghisappointment.Directorsoverseventyyearsofagearerequiredtosubmitthemselvesforre-appointmaay accac w sc 129(6) Cma Ac, 1965.

Board Committeest a Ba cagg , va Ba Cmm av b ab. t c a m c acay a, w acab, cmy w cmma C.

t Audit Committee cm i n-excv dc.

t Cama A Cmm w m dc a Ba mg, ay a ma a a A CmmmeetingsandwhichrequiretheBoard’snoticeordirection.

F ma cm, m c a ma ag A Cmm a ag 1134 Aa r.

t Nomination Committee cm n-excv dc, w wm a amy:-

Cama: da’ Ab Azz @ Ab Azz b Ab Baka(n-excv dc)

Mmb: dak Aa b A(i n-excv dc)da’ Fam l e(i n-excv dc)

t may by nma Cmm accac w m c a Ba w wc:-

• ToassessandrecommendnewnomineesforappointmenttotheBoardandBoardCommittees(theultimatedecisionastowhomb ma b by Ba a cg cmma c a Cmm).

• Toreviewtherequiredmixskillsandexperienceandotherqualities,includingcorecompetencieswhichtheNon-ExecutiveDirectors bg Ba.

• ToassesstheeffectivenessoftheBoardasawhole,thecommitteesoftheBoardandthecontributionofeachindividualDirector.

STaTemon corpo

Governa


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t Remuneration Committee cm i n-excv dc amy:-

Cama: dak Aa b A(i n-excv dc)

Mmb: da’ lg sy @ lg K sg(i n-excv dc)da’ Fam l e

(i n-excv dc)

t may by rma Cmm accac w m c a Ba w wgc:-

• t vw a c ma excv dc wc accac w k, xc a x y a mak cmma Ba ma ackag excv dc.

• t v a bjcv a am b ga excv dc.

• t cc c am va excv dc a ma cy a ca ava mac.

• Aa vw va ma cy dc cmma Ba.

t Saety Review Board wa ab Ag 2005 w vg Ba v vg a maagm

SafetywithinAirAsia’soperations.TheBoardappointstheChairmanoftheCommitteeandameetingisheldeachquartertoreviewprogressa a Fg say & Aw, ic r, ivga a cmma a Fg daa Aay arcmma. t Cmm cm w n-excv dc, amy:-

Cama: M. C Mc Cay (n-excv dc)

Mmb: da’ Mam Kaa b Mca(i n-excv dc)

a mmb c va a ay a cy ca m AAa a m aa taa aia. A v Ba ac Qa.

t Employee Share Option Scheme (“ESOS”) Committee cm G Ceo, dy G C excv oc (“dy G Ceo”), G rga ha Fac a Cmay’ exa lga Av. t esos Cmm wa ab am esos G accac w bjcv a ga a m aca gby,

optionoffersandshareallocationsandtoattendtosuchothermattersasmayberequired.

b. directors remunerAtion

t ma ackag cm wg m:-

1. Feet ayab ac n-excv dc vc Ba a cmm by Ba a ava by a Cmay a AGM.

2. Basic salaryt bac aay ac excv dc cmm by rma Cmm a av by Ba, akg acc mac va, fa c x a ma m c a aay ma cmaab cma aay. saa a vw aay.


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128



3. Bonus schemet G a a b cm a my, cg excv dc. t ca cm a va mac ma G, g w a am ac va’ mac g .

4. Benefts-in-kindo cmay b (c a va mca ca, ca awac, av c, c.) a ma avaab a aa.

5. Service contract

B G Ceo a dy G Ceo, av a -ya vc cac ac w AAa.

6. Directors’ share optionst wa mvm dc’ a g ya 31 dcmb 2010.

da dc’ ma a n 5 A Faca sam ag 173 174 Aa rW C a cb va c ackag, Ba vw a aacy a accaby acCorporateGovernanceinrespectoftheDirectors’remunerationareappropriatelyandadequatelyaddressedbythebanddisclosureasdisc a n 5.

c. shAreholders

Investor Relationst Cmay cmm maag g cmmca w a a v. Cmmca aca by a mb ma ca m a ab mac G. t c Aa r a Acc a

acm ma g Ba Maaya, a w a g AGM.

Mmb maagm a cy vv v a g c aw a v bg cy aaba w aca aay, a a a maag.

r, acm a a gv a aa va av vm cmmy a a avaabwa a G’ wb a www.aaa.cm. sa may ba Cmay’ acm va Ba Maaya’ wa “://www.bamaaya.cm”.

AnyqueriesorconcernsregardingtheGroupmaybedirectedtotheInvestorRelationsDepartmentatinvestorrelations@airasia.com.

Annual General MeetingGv z a ggaca vy a ba, AGM a ma m a ac. Aa a mg g w a cy G’ Aa r a a 21 ay b mg .

A AGM, G Ceo w cc a b a G’ mac ya a c. t Cama a

allBoardCommitteechairmenwherepossiblewillbepresentattheAGMtoanswershareholders’questionsandheartheirviewsduringthmg. sa a cag aca cg a gag w ag w Ba a s Maagm.

Corporate Disclosure PolicyAAa Ba bv cg c bga m a by Ba Maaya. A Ca dc pwa av by Ba, wc v acca, baac, ca, my a cm c ca ma abm a y mak c by v. i c, Cmay w c g a ga BMaaya.

Maa ma w a ca b ma va Ba Maaya a ma.

STaTemon corpo

Governa


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d. AccountAbility And Audit

Financial Reporting

TheBoardaimstoensurethatthequarterlyreports,annualauditednancialstatementsaswellastheannualreviewofoperationsintheAa r fc , a a acca cg a g aca a b ma accac w MMlr Ba Maaya.

TheDirectorsarealsorequiredbytheCompaniesAct,1965topreparetheGroup’sannualauditednancialstatementswithallmaterial

c c a y a cm, acca a cmac w acab accg aa a a ga. tA Cmm a Ba vg aca g c.

Audit Committee and Internal Control

t Ba’ gvac c c a c Ba, g A Cmm vw gay cv systemofinternalcontrolasrequiredbytheCode.AreportontheAuditCommitteeanditstermsofreferenceispresentedonpages131to134 Aa r.

t Ba a va by G’ ym a c, wc cm a c yg, vaag amaagg k ac by G a gay vwg cv accac w C.

t Ba cm a c wa ac g ya vw a a ava acaam. t may am a a ym wc aa b a wc ca, v m, ca ava w agag G’ a. t ym g maag, a a ma, k a acv bbjcv a ca y v aab a ab aac aga maa mam .

t sam ia C ag 135 136.

Whistleblowing Program

i mv va gaaa cv a gy Cmay y bc, Cmay a a wbwg gam g ya wc ac a a ma cmmca ca w a ak cacmmca cc ca w Cmay’ b cc m b cay Cmay’ cmm va.

A cc b a C A excv (A & Cg svc) w w a a cc arecommendtheappropriateaction,andsubsequently:

• CompileallreportsreceivedandsubmittotheChairmanoftheAuditCommittee;and

• ReporttoManagementonbehalfoftheAuditCommitteetheresultsoftheinvestigationforfurtheraction.

A a ag am a wbw w b k cy ca g vga cg.

Relationship with the Eternal Auditors

t Ba, g A Cmm, a maa aa, ma a aa a w xa a. tA Cmm m xa a w c maagm, wv cay, a a a wc a ya. Mgw xa a a c G’ a a, a g, aca am a w a k a avc a ma. Fm m m, xa a m a a A Cmm ma amayrequiretheirattention.

t am ma accac w a Ba dc AAa a 19 A 2011.


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a udiTcommiTTeereporT

TERMS OF REFERENCE OF THE AUDIT COMMITTEE

A. composition

t Cmm a cm a a -xcv c a by Ba dc. A mmb Cmm m b -xcv c, w a majy m bg c. A mmb Cmmb acay a a a a mmb a:

() b a mmb Maaya i Acca; () a mmb Maaya i Acca, m av a a 3 ya wkg xc a:-

• hemusthavepassedtheexaminationsspeciedinPartIofthe1stScheduleoftheAccountantsAct1967;or

• hemustbeamemberofoneoftheassociationsofaccountantsspeciedinPartIIofthe1stScheduleoftheAccoun

Ac 1967; (iii) fullssuchotherrequirementsasprescribedorapprovedbytheExchange.

t am ma w a mmb ca b a dc. n aa c ca b a a a mmb Cmm.

Mmb Cmm a c a i dc Cmm a Cama.

i a mmb Cmm g, ay a ca b a mmb w a mb mmbreducedbelowthree,theBoardshall,withinthreemonthsappointsuchnumberofnewmembersasmayberequiredtomakeup

mmm mmb.

t m c a mac Cmm a ac mmb a b vw by Ba a a c v ya.

b. roles And responsibility

t may a b Cmm w ga AAa G’ ia A c, xa aaca g, a ay aac, aa g a vga a a w:

Internal Audit

• MandatetheinternalauditfunctiontoreportdirectlytotheCommittee;

• Reviewtheadequacyofthescope,functions,competencyandresourcesoftheinternalauditfunction,andthatithasthe

cay c a ay cay wk, wc b m ay a w maay ccy;

• ReviewtheinternalauditreportsandtoensurethatappropriateandpromptremedialactionistakenbytheManagementoa c c a a by a a;

• Reviewtheappraisalorassessmentoftheperformanceofmembersoftheinternalauditfunction;

• ApprovetheappointmentorterminationoftheRegionalHead-InternalAuditandseniorstaffmembersofInternalAudit;

• Takecognisanceofresignationsofinternalauditstaffandthereasonforresigning.

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Eternal Auditor• Toconsidertheappointmentoftheexternalauditor,theauditfees,anyquestionsofresignationordismissaloftheexternalauditor;• Tosubmitacopyofwrittenrepresentationorsubmissionofexternalauditors’resignationtotheExchange;• Monitortheeffectivenessoftheexternalauditors’performanceandtheirindependenceandobjectivity;• Todiscusswiththeexternalauditorbeforetheauditcommences,thenatureandscopeoftheaudit,andensureco-ordinationwhere

m a a m vv;• ReviewmajorndingsraisedbytheexternalauditorsandManagement’sresponses,includingthestatusofthepreviousaudit

cmma;

• Todiscussproblemsandreservationsarisingfromtheinterimandnalaudits,andanymattertheexternalauditormaywishtodiscuss( abc maagm w cay); a• ToprovidealineofcommunicationbetweentheBoardandtheexternalauditors.

Financial ReportingToreviewthequarterlyandyear-endnancialstatementsoftheGroupandCompany,focusingparticularlyon:-

• anychangeinaccountingpoliciesandpractices;• signicantadjustmentsarisingfromtheaudit;• litigationthatcouldaffecttheresultsmaterially;• thegoingconcernassumption;and• compliancewithaccountingstandardsandotherlegalrequirements.

Related Party Transactionst vw ay a ay aac a cfc a a may a w Cmay G cgtransactions,proceduresorcoursesofconductthatmayraisequestionsofManagement’sintegrity.

Annual Reportr A Cmm’ acv aca ya.

Investigation• Toconsiderthemajorndingsofinternalinvestigationsandmanagement’sresponse;• ToreviewtheCompany’sproceduresfordetectingfraudandwhistleblowingandensurethatarrangementsareinplacebywhichstaff

may, cc, a cc ab b m ma aca g, aca c ay ma( cmac w v ma Cma Ac, 1965).

Other Matterst c ay ma a c by Ba.

c. Authority And powers of the Audit committee

i cayg , a A Cmm a, a c Cmay:

• haveauthoritytoinvestigateanymatterwithinitstermsofreference;• havefull,freeandunrestrictedaccesstotheGroupandCompany’srecords,properties,personnelandotherresources;• havefullandunrestrictedaccesstoanyinformationregardingtheGroupandCompany;• havedirectcommunicationchannelswiththeexternalauditorsandperson(s)carryingouttheinternalauditfunction;• beabletoobtainindependentprofessionalorotheradvice;and• convenemeetingswiththeexternalauditors,internalauditorsorboth,excludingtheattendanceofotherdirectorsandemployees

Cmay, wv m cay.

W Cmm vw a a ma by Ba c a b aacy v ginabreachoftheMainMarketListingRequirementsofBursaMalaysia,theCommitteeisauthorisedtopromptlyreportsuchmatters excag.


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132



acommi

re

d. meetings

a) t Cmm a m a a (4) m a ya a c aa mg a Cama a c.

b) ThequorumforanAuditCommitteeMeetingshallbeatleasttwo(2)members.ThemajoritypresentmustbeIndependentdc.

c) t exa A a g aa a b a a ay mg Cmm a a aa b

Committeewhenrequiredtodoso.

) t G rga ha Fac a rga ha ia A G a Cmay a may amg a ba a ma a. hwv, a a wc a ya, Cmm aw exa A w c maagm.

) t Cmay scay a ac a scay Cmm a a b b, w ccc Ca awg a ccag aga a c mg g w g xaay cmammb ac mg.

) t scay Cmm a b c a cg a m a mg Cmm

g) i a avaaby a m A Cmm Mg a Ba mmb, Cmm aBa Mg w a mmay gca ma .

t abv m c w v a av by Ba dc AAa Ba 27 ay Fbay 20

ACTIVITIES OF THE AUDIT COMMITTEE DURING THE YEAR

A mmay acv m by Cmm g aca ya 31 dcmb 2010 (“Faca Ya”) b

Composition o the Audit Committee and Attendance o meetings

A a v (7) mg a Faca Ya. t mmb Cmm g w a aa Cmm mg g ya a a w:

Name Directorship No. o Meetings atten

dak lg K sg (Cama Cmm) i n-excv dc 7

da’ Fam l e i n-excv dc 7

dak Aa b A i n-excv dc 7

da’ Mam Kaa b Mca i n-excv dc 6

t Cmm m a c ba a a c vy w m. t G C excv oc (GCeo), rgaha – Fac, G Faca C (GFC) a rga ha - ia A a v a mg. t exA a a v c maagm , A pag Mmam a ma m va.


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Internal Audit

• ApprovedtheGroup’sinternalauditplan,scopeandbudgetforthenancialyear.• Reviewedtheresultsofinternalauditreportsandmonitortheimplementationofmanagementactionplansinaddressingandresolving

.• Reviewedtheadequacyandcompetenciesofinternalauditfunctiontoexecutetheannualauditplan.

Eternal Audit• TheCommitteereviewedPricewaterhouseCoopers(“PwC”)overallworkplanandrecommendedtotheBoardtheirremunerationand

m gagm a xa a a c a a, pwC’ mac a c a cv va a c. t Cmm cmm pwC’ -am a a Ba a w b a a AGM.

• ReviewedupdatesontheintroductionofInternationalFinancialReportingStandardsandhowtheywillimpacttheCompanyandhasmonitoredprogressinmeetingthenewreportingrequirements.

• TheCommitteewasalsoupdatedbyPwConchangestotherelevantguidelinesontheregulatoryandstatutoryrequirements.• DeliberatedandreportedtheresultsoftheannualaudittotheBoardofDirectors.• Metwiththeexternalauditorwithoutthepresenceofmanagementtodiscussanymattersthattheymaywishtopresent.

Employee Share Option Scheme • TheCommitteeveriedtheallocationoptionspursuanttothecriteriadisclosedtotheemployeesoftheGroupandestablished

a emy sa o scm Faca Ya.

Financial Reporting

• ReviewedanddeliberatedontheQuarterlyFinancialAnnouncementsandAnnualAuditedFinancialStatementspriortosubmissionto Ba dc ca a ava.

Related Party Transactions• ReviewedtherelatedpartytransactionsenteredintobyAirAsiaBerhadGroup.

INTERNAL AUDIT FUNCTION

AAa G a a w ab - ia A (iA) a Ba v a Maagm a ac a kmaagm, a c a gvac ym. t iA maa maay, ccy a a ca by avg a a cy vw Cmm. t c a g by A Ca a v c a fc , b, accaby a c wk am. t iA cay A Cmm a amavy GCeo.

t ca by iA ak ga a ymac vw ym a c, a vaab aac a ym c a cy a cvy. t iA mm k ba ag abg agc a aa a a, bg ma ac mg aa b a.

Theauditscoverthereviewoftheadequacyofriskmanagement,thestrengthandeffectivenessoftheinternalcontrols,compliancetobothinternalandstatutoryrequirement,governanceandmanagementefciency,amongstothers.Areasforimprovementandauditcmma a wa maagm a a ac. t maagm b acorrectiveactionsareimplementedwithintherequiredtimeframe.Theauditreportswhichprovidetheresultsoftheauditconductedarebm A Cmm vw. Ky c a cmma a gg ab Cmm xc vg c.

TheAuditCommitteereviewsandapprovestheIA’shumanresourcerequirementstoensurethatthefunctionisadequatelyresourcedwithcm a c a a. t a aa c ia A am 2010 wa rM1,543,376.83.


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STaTemenTon inTernalconTrolt Ba ma cmm cmyg w Maaya C Ca Gvacwhich“…requireslistedcompaniestomaintainasoundsystemofinternalcontroltosafeguard

a’ vm a Cmay’ a” a Ba Maaya’ MMlr paaga 15.whichrequirestheBoardtomakeastatementaboutthestateofinternalcontrolofthelistediss

a g. t Ba a wg am a c aca 31 dcmb 2010.

Board Accountability

t Cmay am acv g aa a cc a c, a ba accaby a gv accac va ga a aw. t a

g m a va g b a aab gw, Cmay a aba maa a a c vm a ca va c mcam a v g Cmay. t Ba dc b vwg cv c mcam. d ma ay c ym, g maag a a ma k a v aab b ab aaaga maa mam .

t G a ac a -gg c yg, vaag, mg a maagggca k a may maay ac acvm ca bjcv. t c

b ac g ya a gay vw by Ba dc. Maagmb ag Ba mm c a c k a c by

a ag k ac, a mma ab ma a c ac aa c a ac k maagm. i, v aac m b a wc m ay ay k maagm acvy. t Ba maj c cmag a c, gay cmac a k akg.

t Ba vw a ym a c ac ya vw andadequatetosafeguardtheshareholders’investment,theinterestofcustomers,regulatorsa

my a G’ a.

Integrating Risk Management with Internal Controls

t Ba c y -w k maagm amwk maag k m ba a a a. ecv k maagm acay cagg a Cmay a a ay cagg vm. t c k maagm g

w cvag c G’ aca cma.

rk g a am a b v a aca cma av b

m g vm aa a a wc wa , ba aav by A Cmm.

t Ba gcay Cmay’ a a cay a vaag ba k-ba av a a.

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Key Internal Control Processes

t ky m G’ a c ym a cb bw:

The Board and Operational Committees

• TheBoardhasestablishedanorganisationalstructurewithclearlydenedlinesofresponsibilities,authoritylimitsandaccountabilityalignedtobusinessandoperationsrequirementswhichsupportthemaintenanceofastrongcontrolenvironment;

• TheBoardhasestablishedtheBoardCommitteeswithclearlydeneddelegationofresponsibilitieswithinthedenitionoftermsof

c a gaa c. t cmm c rma Cmm, nma Cmm, A Cmma say rvw Ba wc av b a Ba m vg c. t Cmm av ay xam a ma w c a Ba w cmma; a

• Operationalcommitteeshavealsobeenestablishedwithappropriateempowermenttoensureeffectivemanagementandsupervision G’ c b a. t cmm c Faca rk Cmm, Qay a o-tm pmacCommitteewheremeetingsareheldfrequentlytoaddressemergingissues,concernsandmitigationactionplans.

Internal Audit • TheBoardhasextendedtheresponsibilitiesoftheAuditCommitteetoincludetheassessmentofinternalcontrols,throughtheInternal

A (iA) c. t A Cmm, ca by a -xcv c vw a c ym ag a a a xa a;

• TheIAisanindependentfunctionthatreportsdirectlytotheAuditCommittee.TheIAassiststheCommitteeandtheBoardbymg ga a ymac vw a c, aca a accg ma, aa c a c,

andensuringthatinternalcontrolsareadequatetomeettheGroup’srequirements.Auditsarecarriedoutonallunitsandstations,thefrequencyofwhichisdeterminedbythelevelofrisksassessed.Theselectionofauditableareastobeauditedisbasedonriskbaseda mgy akg ca maagm a Ba;

• Managementisresponsibleforensuringthatcorrectiveactionstoaddresscontrolweaknessesareimplementedwithinadenedtimeam. t a mma m g w- a wc a a A Cmm;

• TheconductsofinternalauditworkisgovernedbytheInternalAuditCharter,whichisapprovedbytheAuditCommittee.TheAuditCommitteealsoreviewstheadequacyofscope,functions,competencyandresourcesoftheinternalauditfunctionsandthatithasthecay ay cay wk. t iA a g by iaa saa pa pacc iaAg by i ia A; a

• TheAuditCommitteealsoreviewsandconsidersmattersrelatingtointernalcontrolsashighlightedbytheexternalauditorsinthec ay a Cmay’ aca am.

Other Key Elements o Internal Control• PoliciesandproceduresofcorebusinessprocessesaredocumentedinaseriesofinStandardOperatingandimplementedthroughout

G. t c a c a bjc ga vw, a a c mvm fc caggk a aa ;

• HeadsofDepartmentpresenttheirannualbudget,includingnancialandoperatingtargetsandcapitalexpenditureplansfortheava G C excv oc. G aa bg a a ab Ba ava. t bg ab a a caca g gaa cv xc a w g. Aca mac cma aga bg a vw by Ba; a

• TheCompanyhasimplementedaformalperformanceappraisalsystemforalllevelsofemployees.

t am a ca a a c maa j v a aca cma. t wa maa c a a a c wak.


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136



STaTemon inTe

con

a ddiTional

complianceinFormaTiont ma bw c cmac w MMlr Ba Maaya:-

1. UTILISATION OF PROCEEDS FROM

CORPORATE PROPOSAL

t w c a by Cmay m ca a g

aca ya 31 dcmb 2010.

2. SHARE BUY-BACK

t Cmay av a cm by-back w a.

3. OPTIONS, WARRANTS OR CONVERTIBLE

SECURITIES ExERCISED

t Cmay ay waa

cvb c g aca ya 31 dcmb, 2010. t AAa esoscam c 1 smb 2004. ta esos xc a c ag 201 202 aca am.

4. AMERICAN DEPOSITORY RECEIPT (“ADR”)

OR GLOBAL DEPOSITORY RECEIPT (“GDR”)

PROGRAMME

t Cmay ay Adr Gdrgamm g aca ya 31 dcmb 2010.

5. SANCTIONS AND/OR PENALTIES

t w bc ac a/a m Cmay a ba, dc Maagm bva gay b g aya 31 dcmb 2010.

6. NON-AUDIT FEES

t am -a c vc Cmay by xa a aca ya 31 dcmb 2010 w rM1,354,000Cacy svc.

7. VARIATION IN RESULTS

t w ma, cajc ma a by Cm

g aca ya 31 dc2010.

8. PROFIT GUARANTEE

dg aca ya 31 dcm2010, G a Cmay ay gaa.

9. MATERIAL CONTRACTS INVOLVING

DIRECTORS’ AND MAJOR SHAREHOLDE

t w maa cac by Cmay a ba vc a maj a’ bg a aca ya 31 dcmb 2010.


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Financialstatements

140 Directors’ report

144 income statements

145 statements of comprehensive income

146 Balance sheets

148 statements of changes in equity

150 cash flow statements152 notes to the financial statements

217 statement By Directors

217 statutory Declaration

218 inDepenDent auDitors’ report

airasia BerhaDannual report2010

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139



t D b b b dd g d c dd 31 Db 2010.

PRINCIPAL ACTIVITIESt c d . t bd dbd n 13 . t d .

FINANCIAL RESULTS

Group CompanyRM’000 RM’000

n 1,061,411 1,055,075

DIVIDENDSn ddd b d b c d .

t D d d ddd dd 31 Db 2010 :

() Ddd 0.91 25% x d 10 rm19,026,493;

() tx x ddd 0.02 d 10 rm527,627; d

() s-d ddd 2.07 d 10 rm57,306,798.

t d ddd bj b a g m c, bd d d r mb b 20 J 2011. Bd d d d- c d , ddd d rm76,860,918.

RESERVES AND PROVISIONS

a d d .

ISSUANCE OF SHARESD , c d d d d- d rm275,774,458 rm277,343,608 b 15,691,500 d rm0.10 x c’ e s o s(“esos”) x rm1.08 . t x esos rm15,377,670, b dd s p .

t d d d kd x d c.

t d d d- c d .

EMPLOYEE SHARE OPTION SCHEME (“ESOS”)t c d esos 1 sb 2004. t esos d b b- d b d 7 J 2004 d d 5 d . o 28 m 2009, c xdd d esos xd 6 J 2009 b 5 6 J 2014. t d esos B-l.t esos x bj d’ .

D esos n 31 .

Directors’report


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140



EMPLOYEE SHARE OPTION SCHEME (“ESOS”) (CONTINUED)

t c b d x b c c m, b d, d d d d, x b ( ex D 320,000 d b. t b d 320,000 s D. a f fd d D’ Kd b m, d dd D’ is b.

DIRECTORSt D d d d d :

D’ abd azz @ abd azz b ab BkD’ s D. a f fdD’ Kd b m

c m c D’ l s @ l K sD’ f l eDk a b aD’ md Kd b mmd o b m (ad 16 m 2011)

DIRECTORS’ BENEFITS

D d d , bd c , b bj b D c b b , db , c bd , c’ esos ( n 5 ).

s d , D d b d b ( D’ dd n 5 ) b d b c d D

b, b , x dd n .

DIRECTORS’ INTERESTS IN SHARESad D’ d, D d d d c :

Number of ordinary shares of RM0.10 each

At 1.1.2010 Acquired Disposed 31.12.2

The CompanyDirect interestsD’ s D. a f fd 2,627,010 – – 2,627,

D’ Kd b m 1,692,900 – – 1,692,c m c 20,882,903 – 5,530,500 15,352,D’ l s @ l K s 100,000 – – 100,D’ f l e 200,000 – 100,000 100,

Indirect interests

D’ s D. a f fd * 729,458,382 – – 729,458,D’ Kd b m * 729,458,382 – – 729,458,

* B b d c, t a sd. Bd. (“tasB”), D’ s D. af fd d D’ Kd b m dd c x tasB’ , d s 6a c a, 1965.

** 100,000 d d 15,252,403 d d hsBc n (a) sd Bd.


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141



Directors’report

DIRECTORS’ INTERESTS IN SHARES (CONTINUED)

Number of options over ordinary shares of RM0.10 each

At At

1.1.2010 Granted Exercised 31.12.2010

The Company

D’ s D. a f fd 600,000 – – 600,000D’ Kd b m 600,000 – – 600,000

o dd b, d D’ d, D d d , d db c d d d .

STATUTORY INFORMATION ON THE FINANCIAL STATEMENTS

B g d c d , D k b :

() d b k bd db d k db dbd d k bd db d b d d d b d db db;d

(b) , db, k d b d g d c d b d b xd .

a d , D :

() d d bd db db db

g d c d b x;

(b) d d bd g d c d;

() d d x d b g d c d .

n b b b k b b d d , D, b g c b d d.


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142



STATUTORY INFORMATION ON THE FINANCIAL STATEMENTS (CONTINUED)

a d , d x:

() g d c d b ;

(b) b g d c d .

a d , D d d d d d.

i D:

() g’ d c’ d b d b , d , dd n 2 ; d

(b) b d d d , d k b g d c d.

AUDITORSt d, pc, xd .

i d Bd D dd 28 a 2011.

DATO’ SRI DR. ANTHONY FRANCIS FERNANDES DATO’ KAMARUDIN BIN MERANUNDirector Director


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143



incomestatementsfor the financial year enDeD 31 DecemBer 2010

Group Company

Note 2010 2009 2010 2009RM’000 RM’000 RM’000 RM’000

r 4 3,948,095 3,132,901 3,864,459 3,072,049o x– s 5 (360,785) (306,002) (358,941) (304,551)– D , d 12 (519,984) (447,644) (519,958) (447,637)– a x (1,210,108) (927,795) (1,210,108) (927,795)– m, , d

d x (476,077) (410,583) (476,077) (410,583)– a x (65,692) (107,251) (65,692) (107,251)– t d x (69,634) (53,524) – –

– g d d – 22,457 – 22,457– o x 6 (192,381) (92,188) (186,017) (90,543)o – 7 (22,416) – (22,416) –o 8 35,943 102,383 35,367 102,383

o 1,066,961 912,754 1,060,617 908,529

f 9 808,033 84,505 808,023 84,462f 9 (776,138) (374,971) (776,134) (374,971)

p b x 1,098,856 622,288 1,092,506 618,020

tx

– c x 10 (5,431) (11,186) (5,417) (11,186)

– Dd x 10 (32,014) (104,835) (32,014) (104,835)

(37,445) (116,021) (37,431) (116,021)

n 1,061,411 506,267 1,055,075 501,999

e ()– B 11 38.4 20.6– Dd 11 38.3 20.6

t 152 216 .


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144



statements oFcompreHensiVe incomefor the financial year enDeD 31 DecemBer 2010

Group Company

Note 2010 2009 2010

RM’000 RM’000 RM’000 RM

p 1,061,411 506,267 1,055,075 501

o ()/

– ab-- 16 4,279 – 4,279

– c d (5,639) – (5,639)– f d (107) – –

o , x (1,467) – (1,360)

t 1,059,944 506,267 1,053,715 501

t bb :– e d 1,059,944 506,267– m – –

1,059,944 506,267

t 152 216 .


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145



B alancesHeetsas at 31 DecemBer 2010

Group Company

Note 2010 2009 2010 2009RM’000 RM’000 RM’000 RM’000

NON-CURRENT ASSETS

p, d 12 9,318,041 7,942,188 9,316,592 7,941,293i bd 13 – – 25,384 22,194i 15 29 29 29 29ab-- 16 152,942 – 152,942 –o 17 25 26,704 25 26,704gd 18 8,738 8,738 – –Dd x 19 719,260 751,274 719,260 751,274

rb d 20 23,593 23,593 23,593 23,593a d j d 21 – 171,885 – 171,885a d 22 117,964 253,037 117,964 253,037D 30 25,544 – 25,544 –

10,366,136 9,177,448 10,381,333 9,190,009

CURRENT ASSETS

i 23 17,553 20,864 17,005 20,316rb d 20 841,122 721,082 815,921 719,608D 248,684 330,978 248,684 330,978a d bd 24 – – 432,382 197,626a d j d 21 99,802 194,503 – –a d 22 162,386 203,930 162,386 203,930

a d d 24 – 3,303 – 3,303D, d bk b 25 1,504,617 746,312 1,499,061 745,345

2,874,164 2,220,972 3,175,439 2,221,106

LESS: CURRENT LIABILITIES

td d b 26 912,943 872,990 884,344 861,847s d 328,549 283,224 307,987 272,333a d bd 27 – – 44,251 29,055a d j d 21 – – 322,614 –a d 22 5,223 3,382 5,223 3,382a d d 27 41,262 – 41,262 –h- b 28 15 56 15 56B 29 553,967 540,212 553,967 540,212c x b 1,632 9,824 955 9,824

1,843,591 1,709,688 2,160,618 1,716,709

NET CURRENT ASSETS 1,030,573 511,284 1,014,821 504,397


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146



Group Company

Note 2010 2009 2010

RM’000 RM’000 RM’000 RM

NON-CURRENT LIABILITIES

h- b 28 – 16 –B 29 7,302,884 7,067,696 7,302,884 7,067D 30 452,865 – 452,865

7,755,749 7,067,712 7,755,749 7,067

3,640,960 2,621,020 3,640,405 2,626

CAPITAL AND RESERVES

s 31 277,344 275,774 277,344 275s 1,221,594 1,206,216 1,221,594 1,206f x 485 592 –rd 32 2,102,571 1,138,438 2,102,501 1,144o 38,966 – 38,966

sd’ 3,640,960 2,621,020 3,640,405 2,626

t 152 216 .


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147



statements oFcHanGes in eQUitY for the financial year enDeD 31 DecemBer 2010

Attributable to equity holders of the Company

Issued and fully paidordinary shares

of RM0.10 each

Foreign Cash flowNumber Nominal Share exchange hedge AFS Retained Minority Total

Note of shares value premium reserve reserve reserve earnings Total interests equity

‘000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

Group

a 1 Jy 2009 2,374,210 237,421 735,352 592 – – 632,171 1,605,536 – 1,605,536

n p l y – – – – – – 506,267 506,267 – 506,267i dy

– 31 380,000 38,000 467,400 – – – – 505,400 – 505,400– p

eply sop s (‘esos’) 31 3,535 353 3,464 – – – – 3,817 – 3,817

a 31 Db 2009 2,757,745 275,774 1,206,216 592 – – 1,138,438 2,621,020 – 2,621,020

a 1 Jy 2010 2,757,745 275,774 1,206,216 592 – – 1,138,438 2,621,020 – 2,621,020

e dp frs 139 40 – – – – (65,670) 105,996 (97,278) (56,952) – (56,952)

a 1 Jy 2010 (d) 2,757,745 275,774 1,206,216 592 (66,670) 105,996 1,041,160 2,564,068 – 2,564,068

n p l y – – – – – – 1,061,411 1,061,411 – 1,061,411

o pv – – – (107) (5,639) 4,279 – (1,467) – (1,467)

tl pv – – – (107) (5,639) 4,279 1,061,411 1,059,944 – 1,059,944

i dy – p eply

s op s(‘esos’) 31 15,692 1,570 15,378 – – – – 16,948 – 16,948

a 31 Db 2010 2,773,437 277,344 1,221,594 485 (71,309) 110,275 2,102,571 3,640,960 – 3,640,960

t 152 216 .


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148



Issued and fully paid

ordinary sharesof RM0.10 each Non-distributable Distributable

Cash flowNumber Nominal hedge AFS Share Retained

Note of shares value reserve reserve premium earnings

‘000 RM’000 RM’000 RM’000 RM’000 RM’000 RM

Company

a 1 J 2009 2,374,210 237,421 – – 735,352 642,705 1,615

n – – – – – 501,999 501i

– 31 380,000 38,000 – – 467,400 – 505– e

s o s(‘esos’) 31 3,535 353 – – 3,464 – 3

a 31 Db 2009 2,757,745 275,774 – – 1,206,216 1,144,704 2,626

a 1 J 2010 2,757,745 275,774 – – 1,206,216 1,144,704 2,626

e d frs 139 40 – – (65,670) 105,996 – (97,278) (56

a 1 J 2010 (d) 2,757,745 275,774 (65,670) 105,996 1,206,216 1,047,426 2,569

n – – – – – 1,055,075 1,055

o – – (5,639) 4,279 – – (1

t – – (5,639) 4,279 – 1,055,075 1,053

i – e

s o s(‘esos’) 31 15,692 1,570 – – 15,378 – 16

a 31 Db 2010 2,773,437 277,344 (71,309) 110,275 1,221,594 2,102,501 3,640

t 152 216 .


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149



c asH FloWstatementsfor the financial year enDeD 31 DecemBer 2010

Group Company

2010 2009 2010 2009RM’000 RM’000 RM’000 RM’000

CASH FLOWS FROM OPERATING ACTIVITIES

p b x 1,098,856 622,288 1,092,506 618,020

adj:

p, d – D 519,984 447,644 519,958 447,637– i 6,996 – 6,996 –

– w – 388 – 388– g d (1,311) (30,696) (1,311) (30,696)

a 24,741 9,645 24,741 9,645a 12 11 12 11ud d b (9,647) – (9,647) –f d 295,028 – 295,028 –n d x (586,755) (39,742) (586,760) (39,742)i x 374,364 371,153 374,364 371,153i (66,699) (6,300) (66,689) (6,257)

1,655,569 1,374,391 1,649,198 1,370,159

c k :i 3,311 (180) 3,311 (179)rb d (162,883) (28,438) (139,046) (28,869)

td d b 63,453 77,701 35,177 69,716i b 393,568 (166,457) 401,920 (155,435)

c d 1,953,018 1,257,017 1,950,560 1,255,392i d (379,099) (322,407) (379,099) (322,407)u d d – (151,713) – (151,713)i d 57,052 6,300 57,042 6,257tx d (11,808) (5,578) (11,319) (5,578)

n 1,619,163 783,619 1,617,184 781,951


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150



Group Company

Note 2010 2009 2010

RM’000 RM’000 RM’000 RM

CASH FLOWS FROM INVESTING ACTIVITIES

p, d – add (1,902,833) (1,947,763) (1,902,253) (1,947– pd d – 182,538 – 182i bd – – (3,190)D 50,808 (12,243) 50,808 (12p b-- (16,000) – (16,000)

n d (1,868,025) (1,777,468) (1,870,635) (1,777

CASH FLOWS FROM FINANCING ACTIVITIES

pd 16,948 509,217 16,948 509h- d (57) (77) (57)pd b 1,562,856 1,670,390 1,562,856 1,670r b (572,580) (593,131) (572,580) (593D (dd)/d (942) 5,112 (942) 5

n 1,006,225 1,591,511 1,006,225 1,591

NET INCREASE FOR THE FINANCIAL YEAR 757,363 597,662 752,774 596

CASH AND CASH EQUIVALENTSAT BEGINNING OF THE FINANCIAL YEAR 718,465 120,803 717,498 121

CASH AND CASH EQUIVALENTSAT END OF THE FINANCIAL YEAR 25 1,475,828 718,465 1,470,272 717

t 152 216 .


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151



notes to tHeFinancialstatements– 31 DecemBer 2010

1 GENERAL INFORMATION

t c d . t bd dbd n 13 . t d .

t dd d c :

25-5, Bk hJ pJu1/37, D p47301 p Js D e

t dd b c :

lcc tJ Klia s3s s ZKl i a64000 ss D e

t b d d Bd D 28 a 2011.

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESu d, b d d dd :

(a) Basis of preparation of the financial statements

t g d c b d d f r sdd(‘frs’), m a sdd Bd (‘masB’) d dd m e o p e, d c a, 1965.

t g d c b d d x dd b.

t frs d c a, 1965 d d d b d d d b d , d d d xd d . i D x jd g’ . a d jd bd D’ b kd d, d.

t d jd x, d g’ d c’ dd n 3 .


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152



2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

(a) Basis of preparation of the financial statements (continued)

Standards, amendments to published standards and interpretations that are effective

t dd, d d bd dd d g d c’ b 1 J 2010 :

• FRS4“InsuranceContract”• FRS7“FinancialInstruments:Disclosures”andtherelatedAmendments• FRS8“OperatingSegments”• FRS101(revised)“PresentationofFinancialStatements”• FRS123“BorrowingCosts”• FRS139“FinancialInstruments:RecognitionandMeasurement”andtherelatedAmendments• Amendment toFRS 1“First-timeAdoptionof FinancialReportingStandards” and FRS127“Consolidated and Se

f s: c i sbd , J cd e a”• AmendmenttoFRS2“Share-basedPayment:VestingConditionsandCancellations”• AmendmentstoFRS132“FinancialInstruments:Presentation”andFRS101(revised)“PresentationofFinancialStatem

- pb d b d• ICInterpretation9“ReassessmentofEmbeddedDerivatives”andtherelatedAmendments• ICInterpretation10“InterimFinancialReportingandImpairment”• ICInterpretation11“FRS2GroupandTreasuryShareTransactions”• ICInterpretation13“CustomerLoyaltyProgrammes”• ICInterpretation14“FRS119TheLimitonaDefinedBenefitAsset,MinimumFundingRequirementsandTheirInterac• ImprovementstoFRSs(2009)

t d frs, d d d g d c x dd b.

(i) Revised FRS 101 “Presentation of Financial Statements”

t d dd b d x ( , ‘- , ‘- ’ b d b d ( d ). t g d . a , g d - b d dd . t d x.

(ii) FRS 7 “Financial Instruments : Disclosures”p 1 J 2010, b dd d 132 “f i : D d p”. frs 7 d d b . i d d b x , d d d b d k, d k d kd k k.

t g d c d frs 7 d . h, d b d . t d dd g’ c’ dd 31 Db 2010. a d dd dd d, .


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153






(iii) FRS 8 “Operating Segments”

frs 8 b d b d . a , g’ d b d bd dk k d d b . tdd d d g. t d d n 36 .

(iv) FRS 139 “Financial Instruments: Recognition and Measurement”frs 139 b d , b d b d - . t g d c dd frs 139 1 J 2010 d .

t d frs 139 d d . c b djd d db b. s :

(i) Investments

n- , d d bj , d b-- . t d () d b (b) b b d d b b bb b b d d d ; , d . t dd - d d 12 d.

c b-- d ,

d d. a d d b dd d d. i d x, , d d b d , d , d d d . i d d b-- d d .

w d b-- d, d dj d dd . r n 40 .

(ii) Derivatives

p 1 J 2011, d d .w d frs 139, d d d d d d b d .

t g d d b d d, , d d dj d , , , . t d dd d dd d ( n 2()). r n40 .


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154





(iv) FRS 139 “Financial Instruments: Recognition and Measurement” (continued)

(iii) Intercompany loansD d , c d - d d bd. p1 J 2010, d d dd c’ . ud frs 139, - d dd d b d d d dj b d . sb , d d d d n 40 .

(iv) Loans and receivables

n- b, d d d bj , d d b d d d b, d d.

w d b d, dd d d . i d d b ’ d d (xd d b dd ’ .

i, b d, d d d b d bj d ( db’ d d d .

p 1 J 2010, g d - b dd w d frs 139, b d d b

d.

i d d frs 139, b b d d 31 Db 2009 d. rn 40 .


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155






(iv) FRS 139 “Financial Instruments: Recognition and Measurement” (continued)

Standards, amendments to published standards and interpretations to existing standards that are applicable to the Groupand Company but not yet effective and have not been early adopted

t d d dd, d d dd b bd d d g’ d b 1 J 2011 d, b g dd :

– t d frs 3 “B b” ( d b 1 J 2010) d b b, . f x,

b b dd d, d db b -d . t -b- b - ’ ’ . a -d d b xd. t g frs 3 (d) b b 1 J 2011.

– t d frs 124 “rd d” ( 1 J 2012) x d b -d d , d -d . t d d d :

– t d ;– t d dd ; d– t x , .

t dd xd

dd d.

– t d frs 127 “cdd d ” ( - 1 J 2010) - b dd d d d . w dd , d bd bd d - , b - db b d’ . p b - d. t dd . a -d , d d . t g frs 127 (d) 1J 2011. t dd xd g’ .

– ad frs 7 “f : i D” d frs 1 “f- d dd” ( 1 J 2011) d d b d d k. i , d d b . t g d c ad frs 7 1 J 2011. t dd xd

dd d.

– ad frs 132 “f : p” ( 1 m2010) dd dd . pdd d , d d d b, d x dd. t g d c ad frs 132 “c r i” 1 J 2011. t dd xd g’ d c’ .


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156





Standards, amendments to published standards and interpretations to existing standards that are applicable to the Gro

Company but not yet effective and have not been early adopted (continued)

– ic i 15 “a ” ( 1 J 2012) d frs 201 “pd ” d d d, d ic i 15 d g d d b d gd d k d d d b.

– ic i 16 “hd ” ( 1 J 2010) d. t d d d

, , d d b d b g frs 121 “t x ” d dd . t ic xd g’ d c’ .

– ic i 17 “Db - ” ( 1 J 2010) d d b db - d db ddd. frs 5 b dd d d db b db d d db bb. t ic xd g’ c’ .

– ic i 18 “t ” ( d 1 J2011) d d , d ( ) k d . w d d , d d . r d d d

frs 118 “r”. t g d c ic i 1 J t ic xd g’ c’ .

– ic i 19 “ex b ” ( 1 J 2011) d b d d d b . a , b d b b d d, b d . e d x b d . t ic xd gc’ .

– ad ic i 14 “frs 119 - t dd b , d ” ( 1 J 2011) b , x bj d d k b . t ic xd g’ c .


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157






The following amendments are part of the MASB’s improvements project that are relevant and effective for annual periods beginning

on or after 1 July 2010

i frs:

– frs 2 ( 1 J 2010) b b j d d frs 2.

– frs 3 ( 1 J 2011)

– c -

’ d d d. a - d b d b frs.

– c d frs 7, frs 132 d frs 139 x d,d d b b d d frs 3 (2010). t d b d d d frs 3 (2005).

– frs 5 “n- d d dd ” ( 1 J 2010) bd’ d b d d d .r d d b d bd d dd .

– frs 101 “p ” ( 1 J 2011) ,

.

– frs 138 “ib a” ( 1 J 2010) b d b b b d .

– ic i 9 ( 1 J 2010) d bddd d d b b, b d j .

t b d i frs xd g’ d c’ .


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158




(b) Group accounting

(i) Subsidiaries

sbd (d ) g x d b b , d . t x d xb b dd g .

sbd dd d . ud d , b dd d d g d xdd d d . t d , d d b d d d x, d bb .

idb d, b d b d b b d d, x . t x g’ db d d dd. i g’ bd d d d dd ( n 2() d).

m d bd bb d, d d bd, b . i d ’ bd’ db d b d d ’ bd’ d. s d d .

i , b d d b g a bd b d dd b g.

t d bd d b d d d g’ bd’ d d, d x d bd d , d d dd .

(ii) Jointly controlled entities

J d , d b g d d .

t g’ j d d dd d dbd n 2(b)().

t g’ j d ’ - d dd , d - d . t djd . w g’

j d xd j d , d - , b, g’ , g d .


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159





(b) Group accounting (continued)

(ii) Jointly controlled entities (continued)

a g’ dd z, dd dd , d b d, x g d b d b j d . i j d b , g d.

ud b g d j d d x g’ j d ; d d dd d. w , d, dj d j d g.

(iii) Associatesa , g x b d , d b 20% d 50% . s d d b .

i d dd d .e dd g . t g’ d d dd , d ( n 2()).

t g’ ’ - d dd ,d - d . t - djd . w g’ xd , d - , b,

g’ , g d .

a g’ dd z, dd dd , d b d, x g d b d b . i b , g d.

ud b g d d x g’ ; d d d d d. w , d, dj d g.


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160




(c) Goodwillgd x bd g’ d d b bd d .

gd d d . gd d , d x. i d d dd d . i d d. g d d d d dd.

gd d - . e - g d d xd b b.

gd j d d dd j d . s d d .

(d) Property, plant and equipmentp, d d d d d d . D d - d - d d . t :

a– 7 25 – 7 25 – 7 13 a 10 a x d u ,

Bd– 28.75 – 50

m 5 o , d 5 o 5 s 25 o d d 5 K 5 i 5 t 5

a d d dd d dd .

rd , b, d k b d d d d djd d b. f dDb 2010, d d d 10% .


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161





(d) Property, plant and equipment (continued)a d bd , d d . t , b , d d x k .

t b j d k d d d dd d x k .

a b d, g d . i d x, d b. a d d xd b . s n 2() .

g d d dd b d d dd

.

ad d d d b xd b dd b dd . o d , dd d dd d.

(e) Investmentsi bd, j d d d d .w d x, d d d d b ( n 2()).

(f) Impairment of assets

a d bj d d , d d x. p, d d -, d b d , d

d b b. a d b xd b . t b ’ d --. f , d db (- ). a d d d b d.

a d d . a b b d d k .

(g) Maintenance and overhaul

Owned aircraft

t d j d k dbd , d .

Leased aircraftw g d d , d d b d . t bd d j, k d - d d b k d b b d d .


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162




(h) Leases

Finance leases

l , d g b b d k d .

f d d d d . e d b b d d bd. t d b, , dd b. t d d d d b b d.

p, d d d dd d d d n 2(d) b. w b d g, dd d .

Operating leases

l k d d d b . p d d ( d ) d - b d.

a d b c d dd , d b dd xd b d , d . ( ) d b .

(i) Inventories

i d b d d d b .

c dd d b, d d d d b d d.

n b d d b, d d b b x. i b , d d dd, b- .


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163





(j) Financial assets

(i) Classification

t g d d d frs139 “f : r d m” 1 J 2010.

t g : , d bd b--. t dd d. md .

Financial assets at fair value through profit or loss

f d d. a d

d d . D d d d dd d.

Loans and receivables

l d b -d xd db d k. t dd , x 12 d d.t d - . t g’ d b ‘d d b’ d‘d, d bk b’ b .

Available-for-sale financial assets

ab-- -d dd d . t dd - d d 12 d d.

(ii) Recognition and initial measurementr d d d-d, d g .

f d . d . f d d , d xd .


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164




(j) Financial assets (continued)

(iii) Subsequent measurement – gains and losses

ab-- d b d . lb b d d d.

c b-- d , x ( n 2(j)()) d x d x d d , x d d .

i d ddd b-- d . ib-- db d d d . Ddd

b-- d g’ bd.

(iv) Subsequent measurement – Impairment of financial assets

Assets carried at amortised cost

t g d d bj d d. a d d bj d d ( ‘ ’) d ( ) d b b d.

t g d bj d d:

• Significantfinancialdifficultyoftheissuerorobligor;• Abreachofcontract,suchasadefaultordelinquencyininterestorprincipalpayments;• TheGroup,foreconomicorlegalreasonsrelatingtotheborrower’sfinancialdifficulty,grantingtotheborroweraconc

d d d;• Itbecomesprobablethattheborrowerwillenterbankruptcyorotherfinancialreorganisation;• Disappearanceofanactivemarketforthatfinancialassetbecauseoffinancialdifficulties;or

• Observabledataindicatingthatthereisameasurabledecreaseintheestimatedfuturecashflowsfromaport , d b dd dd , d:() d b ; d() d d .

t d d b ’ d (xd d b d) dd ’ . t ’ dd d d

. i ‘ d b’ b , d dd d . a xd, g b ’ bb k .

i, b d, d d d b d bj d ( db’ d ), d d .


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165





(j) Financial assets (continued)

(iv) Subsequent measurement – Impairment of financial assets (continued)

w b, d . s d b d d b dd.

Assets classified as available-for-sale

t g d d bj d d.

i d b--, dd ‘ d d ’b, d d b dd d

d. i d x b-- , d bd d d d d . t d d b d , d . i d d b-- d .

t g d d frs 139 b - , , d d dj d , , , . c b djd d d b b. r n 40 .

(v) De-recognitionf d-d xd bd d g d b k d d .

w b-- d, d dj d d .

(k) Offsetting financial instrumentsf d b d d b d d b, d b .

(l) Derivative financial instruments and hedging activitiesD d d d d d b -d . t d dd d dd d , d , b dd. t g d d :

() d d b ( d); (b) d k d d b bb (

d).


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166




(l) Derivative financial instruments and hedging activities (continued)t g d b d d dd k bj d dk d . t g d, b d d b, d d d dd .

t d d d dd n 30. t d d - b dd 12 , d b dd 12 .

(a) Fair value hedge

c d dd d d dd

, dd b bb dt g d d xd k b. t d xd b d ‘’. t d ‘ /(’. c d xd b bb k d ‘ ’.

i d d , dj dd d d d d .

(b) Cash flow hedge

t d dd d dd . t d d ‘ /() – ’.

a d d d dd ( x, dd k ). t d b b d ‘’.

h, dd - ( x, , d ), d dd d d . t dd d d d , d .

w d x d, d d x d d d . w xd , d d d ‘ /(’.

t g d d frs 139 b d d , d d dj d , , . c djd d d b b. r n 40 .


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167





(m) Trade receivablestd b d d d d d b.i xd ( b ), d . o, d - .

td b d d b d d d, .

(n) Cash and cash equivalents

f , d d, bk b, dd dd , d , bk d. D d dd d dd d .

(o) Provisionsp d g b , bb b d b, d b bd. p d .

(p) Share capital

() cod d ddd d . o d d/ b d b . Db d d d d .

() s i x d bb dd, x, d.

() Ddd d c Ddd d d b d dd. a ddd dd d d, b b d , d b d d.

(q) BorrowingsB d bd d d, d. t , d b d d b, d d b d d .

i, ddd, d , , d b d .

B d b g d d b b d.


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168




(r) Income taxesc x x dd d x jd g d dx bd xb , d d x b b bd, j d .

Dd x d , b d, d b b d b x d .

Dd x d d d x d x d (d x x bb xb b b d x d d x b d.

Dd x d d bd, j d d

x d b d d bb d b .

t g’ x j d d dd g’ d d .

Dd x dd x (d x ) b d b d b bd d xd d dd x d dd x b d.

(s) Employee benefits

() s bw, , d d k , b d - b d d dd b g.

() Dd b t g’ b e’ pd fd d . o b b d, g b. pd bd x d d b.

() s bd frs 2 – s-bd p -bd d . t g frs 2 2006 c d d dd.


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169





(t) Revenue recognitionsdd d d d d d b, d d. t d b dd dd b d. r dd - b .

o d , , d , x b d b d, d dd d b, d d. f d d d dd d b, d d.i (b bd d bd) d d b dd d b, d d.

r d b.

i d d. w d b d, g d b , b d dd , d d d . i d d b d .

(u) Foreign currencies

(i) Functional and presentation currency

i dd g’ d (‘ ’). t dd d r m, c’ d .

(ii) Transactions and balancesf d x d . f x d d

-d x d b dd d .

(iii) Group companiest d g ( ) d d :

() d b b d d d b;

() d x d x ( b x d, d x d d ); d

() x d d .

o d, x d k d’ . w dd d, x d dd d d.


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170




(v) Contingent liabilitiest g d b b d x . a b b b x b d b bd g b d b bb b b. a b x b d b b d b.

i bd b g d b b, b d d, x .

t g b b b b d b. w b d b, d d .

sb , g b d d b d d frs 137 ‘pc lb d c a’ d d , , d d frs 118 ‘r’.

(w) Segment reportingo d dd d-t d-k, b d , b dd k d.

3 CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTSe d jd d b D d bd x d , x bd b b d .

t g k d . t , b d, d . t , k b d g’ d d d d k dj d x xd b.

(i) Estimated useful lives and residual values of aircraft frames and enginest g d d d d bd b d , xd , d d k .

f d b d b b b b d b. a d d d d d dd 2(d), d dd d d d , d .


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171




3 CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS (CONTINUED)

(ii) Deferred tax assetsDd x d x bb xb b b d b d. e xb , , d , , d . t b b bd d djd - d b . h, xb 5 d xb , dd x b d.

(iii) Recoverability of intercompany balances

t g t aa c. ld d pt id aa, b d , dd n 14 d 15 . a b d, b d d rm99.8 (2009: rm366.4 ) d rm268.1 (2009: rm445.8 ) .n b dd b D d

d d db, bd jd .

(iv) Valuation of available-for-sale equity investmentst g d , aa X sd Bd, d d d b-- d frs 139. t g d frs 139 d b-- d d. t d d bj d jd. i k jd, g dd k bd d, , , , d , ; d d b k , d d d , d d .

4 REVENUE

Group Company

2010 2009 2010 2009RM’000 RM’000 RM’000 RM’000

p 2,830,920 2,138,011 2,830,920 2,138,011a 395,943 320,332 395,943 320,332s d 13,938 261,193 13,938 261,193t d 83,636 60,852 – –o 623,658 352,513 623,658 352,513

3,948,095 3,132,901 3,864,459 3,072,049

o d x b, b d , d , d d bk rm539.9 (2009: rm304.0 ) g d c.


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172



5 STAFF COSTS

Group Company

2010 2009 2010 RM’000 RM’000 RM’000 RM

w, , b d 318,316 279,707 316,642 278Dd b 42,469 26,295 42,299 26

360,785 306,002 358,941 304

idd ex D’ d :

Group and Compa

2010 RM’000 RM

ex D– b , b d 14,400 8– dd b 1,728 1

n-x D– 2,203

18,331 10

t b D c d :

Executive Non-executive

2010 2009 2010

Range of remuneration

rm100,001 rm150,000 – – –rm150,001 rm200,000 – – –

rm300,001 rm350,000 – – 2rm350,001 rm400,000 – – 3rm450,001 rm500,000 – – 1

rm4,000,001 rm5,000,000 – 1 –rm5,000,001 rm6,000,000 – 1 –rm7,000,001 rm8,000,000 1 – –

rm8,000,001 rm9,000,000 1 – –


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173




5 STAFF COSTS (CONTINUED)

s b d d d c d d esos D:

Exercise

Expiry price At AtGrant date date RM/share 1.1.2010 Exercised Lapsed 31.12.2010

’000 ’000 ’000 ’000

1 sb 2004 6 J 2014 1.08 1,200 – – 1,200

2010 2009’000 ’000

nb d b d 1,200 1,200

D , x d esos xd 6 J 2009 xdd 5 6 J 2014.

6 OTHER OPERATING EXPENSESt b d/(dd) x:

Group Company

2010 2009 2010 2009RM’000 RM’000 RM’000 RM’000

p, d

– w – 388 – 388– i 6,996 – 6,996 –r d d bd 10,877 4,181 10,877 4,157ad’ – d 586 467 556 438– d d 255 10 255 10– -d 1,494 51 1,494 51

r 2,151 1,475 2,151 1,475ad 28,993 33,702 26,008 33,387a 24,741 9,645 24,741 9,645a 12 11 12 11n x ()/– rd (7,125) (49,020) (7,489) (49,968)– ud 64,601 36,168 64,596 36,168


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174



7 OTHER LOSSES – NET

Group and Compa

2010 RM’000 RM

i – hd d (42,585)

fd x – hd d 25,391f – hd d 832

i d (n 30) (6,054)

t (22,416)

8 OTHER INCOME

Group Company

2010 2009 2010

RM’000 RM’000 RM’000 RM

g d , d 1,311 30,696 1,311 30o 34,632 71,687 34,056 71

35,943 102,383 35,367 102


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175




9 FINANCE INCOME/(COSTS)

Group Company

2010 2009 2010 2009RM’000 RM’000 RM’000 RM’000

f :

f x b– rd – 2,295 – 2,295– ud 741,334 75,910 741,334 75,910i – d d bk 826 1,009 826 1,009

– d d 2,692 627 2,692 627– d d j d 53,925 – 53,925 –

– 9,256 4,664 9,246 4,621

808,033 84,505 808,023 84,462

f :

rd x b (29,208) – (29,208) –ud x d d j d (89,978) – (89,978) –

f d (272,612) – (272,612) –i x– bk b (374,364) (371,141) (374,364) (371,141)– (7,750) – (7,750) –

– - b (10) (12) (10) (12)Bk d (2,216) (3,818) (2,212) (3,818)

(776,138) (374,971) (776,134) (374,971)

n /() 31,895 (290,466) 31,889 (290,509)


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176



10 TAXATION

Group Company

2010 2009 2010

RM’000 RM’000 RM’000 RM

c x– m x 13,240 12,301 13,226 12– f x 2,967 1,805 2,967 1

o x (10,776) (2,920) (10,776) (2Dd x (n 19) 32,014 104,835 32,014 104

37,445 116,021 37,431 116

c x– c 16,207 14,106 16,193 14– o x (10,776) (2,920) (10,776) (2Dd x– o d d 197,852 121,581 197,852 121– tx (165,838) (16,746) (165,838) (16

37,445 116,021 37,431 116

t x d .

t x b x d b x :

Group Company

2010 2009 2010 RM’000 RM’000 RM’000 RM

p b x 1,098,856 622,288 1,092,506 618

tx d m x 25% (2009: 25%) 274,714 155,572 273,127 154

tx :– x ddb x 18,078 2,559 19,651 3– bj x (79,245) (23,268) (79,245) (23– d d d 512 824 512

– x (165,838) (16,746) (165,838) (16– x (10,776) (2,920) (10,776) (2

tx 37,445 116,021 37,431 116


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177




11 EARNINGS PER SHARE

(a) Basic earnings per shareB d b dd b d b d d .

Group

2010 2009

p (rm’000) 1,061,411 506,267wd b d (‘000) 2,761,637 2,456,443e () 38.4 20.6

(b) Diluted earnings per sharef dd , d b d djd d d .

t g d d c’ d .

i d , d d b d b d (dd k c’ ) bd b d d . t d “b” d d d. n dj d dd .

t b d b d b d b d x .

Group

2010 2009

p (rm’000) 1,061,411 506,267

wd b d (‘000) 2,761,637 2,456,443adj esos (‘000) 8,644 –

wd b d dd 2,770,281 2,456,443

Dd () 38.3 20.6


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178



12 PROPERTY, PLANT AND EQUIPMENT

At Reclassi- Depreciation A1 January 2010 Additions fications Impairment charge December

RM’000 RM’000 RM’000 RM’000 RM’000 RM

Group

Net book value

a , d 7,676,107 1,847,573 – (6,996) (471,060) 9,045

a 118,694 27,118 – – (20,031) 125a x d 28,342 5,902 – – (11,481) 22

Bd 37,990 842 – – (1,445) 37m 4,961 4,282 – – (2,461) 6o , d 11,208 11,990 – – (4,581) 18

o 2,870 1,458 – – (1,510) 2s 47,670 58 – – (2,044) 45o dd 10,989 2,419 566 – (4,566) 9

K 194 – – – – i 423 826 – – (192) 1t 2,174 365 – – (613) 1a 566 – (566) – –

7,942,188 1,902,833 – (6,996) (519,984) 9,318

Accumulated Net Cost depreciation

RM’000 RM’000 RM

Group

At 31 December 2010

a , d 10,469,160 (1,423,536) 9,045a 195,155 (69,374) 125a x d 71,504 (48,741) 22Bd 41,204 (3,817) 37m 18,619 (11,837) 6o , d 49,116 (30,499) 18o 10,655 (7,837) 2

s 55,988 (10,304) 45o d d 28,121 (18,713) 9K 202 (8) i 1,385 (328) 1t 3,098 (1,172) 1

10,944,207 (1,626,166) 9,318


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179




12 PROPERTY, PLANT AND EQUIPMENT (CONTINUED)

At Reclassi- Depreciation At 311 January 2009 Additions fications Write off Disposals charge December 2009

RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

Group

Net book value

a , d 6,337,262 1,894,583 (102) – (151,810) (403,826) 7,676,107

a 100,820 33,491 – – – (15,617) 118,694a x d 36,784 3,290 – – – (11,732) 28,342

Bd 13,982 – 24,528 – – (520) 37,990m 5,194 2,149 – – – (2,382) 4,961o , d 10,208 5,662 83 – – (4,745) 11,208

o 2,814 1,609 – – – (1,553) 2,870s 49,740 168 – – – (2,238) 47,670o d d 11,772 3,998 102 (388) (32) (4,463) 10,989

K 194 – – – – – 194i 308 216 – – – (101) 423t 620 2,021 – – – (467) 2,174a 24,601 576 (24,611) – – – 566

6,594,299 1,947,763 – (388) (151,842) (447,644) 7,942,188

Accumulated Net bookCost depreciation value

RM’000 RM’000 RM’000

Group

At 31 December 2009

a , d 8,628,583 (952,476) 7,676,107

a 168,037 (49,343) 118,694a x d 65,602 (37,260) 28,342Bd 40,362 (2,372) 37,990m 14,337 (9,376) 4,961o , d 37,126 (25,918) 11,208

o 9,197 (6,327) 2,870s 55,930 (8,260) 47,670o d d 25,136 (14,147) 10,989K 202 (8) 194i 559 (136) 423t 2,733 (559) 2,174a 566 – 566

9,048,370 (1,106,182) 7,942,188


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180




At 1 January Reclassi- Depreciation 31 Dece

2010 Additions fications Impairment charge RM’000 RM’000 RM’000 RM’000 RM’000 RM

Company

Net book value

a , d 7,676,107 1,847,573 – (6,996) (471,060) 9,045

a 118,694 27,118 – – (20,031) 125

a x d 28,342 5,902 – – (11,481) 22Bd 37,990 842 – – (1,445) 37m 4,356 4,282 – – (2,461) 6o , d 11,112 11,431 – – (4,556) 17o 2,870 1,437 – – (1,509) 2s 47,670 58 – – (2,044) 45o d d 10,989 2,419 566 – (4,566) 9i 423 826 – – (192) 1t 2,174 365 – – (613) 1a 566 – (566) – –

7,941,293 1,902,253 – (6,996) (519,958) 9,316

Accumulated Net

Cost depreciation RM’000 RM’000 RM

Company

At 31 December 2010

a , d 10,469,160 (1,423,536) 9,045

a 195,155 (69,374) 125a x d 71,504 (48,741) 22Bd 41,204 (3,817) 37m 18,021 (11,844) 6o , d 48,462 (30,475) 17o 10,634 (7,836) 2s 55,988 (10,304) 45

o d d 28,121 (18,713) 9i 1,385 (328) 1t 3,098 (1,172) 1

10,942,732 (1,626,140) 9,316


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181





At 1 Reclassi- Depreciation At 31January 2009 Additions fications Write off Disposals charge December 2009

RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

Company

Net book value

a , d 6,337,262 1,894,583 (102) – (151,810) (403,826) 7,676,107

a 100,820 33,491 – – – (15,617) 118,694a x d 36,784 3,290 – – – (11,732) 28,342

Bd 13,982 – 24,528 – – (520) 37,990m 4,589 2,149 – – – (2,382) 4,356o , d 10,122 5,645 83 – – (4,738) 11,112

o 2,814 1,609 – – – (1,553) 2,870s 49,740 168 – – – (2,238) 47,670o d d 11,772 3,998 102 (388) (32) (4,463) 10,989

i 308 216 – – – (101) 423t 620 2,021 – – – (467) 2,174a 24,601 576 (24,611) – – – 566

6,593,414 1,947,746 – (388) (151,842) (447,637) 7,941,293

Accumulated Net bookCost depreciation valueRM’000 RM’000 RM’000

Company

At 31 December 2009

a , d 8,628,583 (952,476) 7,676,107

a 168,037 (49,343) 118,694a x d 65,602 (37,260) 28,342Bd 40,362 (2,372) 37,990m 13,732 (9,376) 4,356o , d 37,031 (25,919) 11,112o 9,197 (6,327) 2,870

s 55,930 (8,260) 47,670o d d 25,136 (14,147) 10,989i 559 (136) 423t 2,733 (559) 2,174a 566 – 566

9,047,468 (1,106,175) 7,941,293


page >

182




idd , d g d c bk :

Group and Compan

2010 RM’000 RM

n bk d b-d 3,445,485 2,458a dd b (n 29) 9,030,028 7,643s dd b (n 29) 41,371 43m - 16

t b d dd b c dd c.

w d b d d, b d c .

13 INVESTMENT IN SUBSIDIARIESCompany

2010 RM’000 RM

ud , 25,384 22


page >

183




13 INVESTMENT IN SUBSIDIARIES (CONTINUED)

t d bd :

Name

Country of

incorporation

Group’s effective equity

interest Principal activities

2010

%

2009

%

Directly held by the Company

c c s

sd Bd (“c”)

m 100.0 100.0 p , d

aa i ld (“aail”) * m 100.0 100.0 i d

aa g hd sd Bd m 100.0 100.0 t b

aa (m) ld

(“aa m”) *

m 100.0 100.0 pd t aa c.

ld

a c

sd Bd (“a”)

m 100.0 100.0 md b d,

aa (B) sd Bd * n B

D

100.0 100.0 pd ,

d

aa c s

ld *

m 100.0 100.0 f b aa g

-d d d d

a sj sd Bd m 100.0 100.0 s

d b aa

Kd sd Bd m 100.0 – D

a a ld * ud Kd 100.0 100.0 t d d aa’ d

e k

Held by AAIL

aa (h K) ld

(“aa hK”) *

h K 100.0 100.0 D

aa c ld * m 100.0 100.0 D

* n dd b pc, m

14 INVESTMENT IN A JOINTLY CONTROLLED ENTITYGroup

2010 2009

RM’000 RM’000

rd b:ud , 12,054 12,054g’ (12,054) (12,054)

– –


page >

184



14 INVESTMENT IN A JOINTLY CONTROLLED ENTITY (CONTINUED)

t d j d :

Name

Country of

incorporation



2010

%

2009

%

Held by AAIL

t aa c. ld

(“t aa”)

td 48.9 48.9 a , d

t g’ j d , b d , :

2010 RM’000 RM

r 611,530 458ex (471,087) (412

p/() b x 140,443 (46tx –

n /() 140,443 (46

t g’ d b j d :

2010

RM’000 RM

n- 14,597 14c 82,601 89c b (217,168) (364

s b j d (119,970) (260

t g dd d b t aa g’ j b dd z d g d b d b d . a 31 Db 2010, d g’ t aa d d rm127.8 (2009: rm268.2 ).


page >

185




15 INVESTMENT IN ASSOCIATES

Group Company

2010 2009 2010 2009RM’000 RM’000 RM’000 RM’000

ud , 4,141 4,141 29 29g’ (4,112) (4,112) – –

29 29 29 29

t d :

Name

Country of

incorporation



2010

%

2009

%

aa p i p 39.9 39.9 pd

s, d

aa p ld (“aapl”) s 48.9 48.9 D

a c c sd. Bd. m 50.0 50.0 pd d--d

d

Held by AAIL

pt id aa (“iaa”) id48.9

48.9 c aa g hd c. ld td 49.0 49.0 t b, d

t g’ , b d , :

2010 2009RM’000 RM’000

r 463,176 338,931ex (383,380) (459,533)

p/() b x 79,796 (120,602)tx – –

n /() 79,796 (120,602)


page >

186



15 INVESTMENT IN ASSOCIATES (CONTINUED)

t g’ d b :

2010

RM’000 RM

n- 17,705 18c 13,491 21c b (229,116) (317n- b (23,354) (23

s b (221,274) (301

t g dd d b iaa g’ b z d g d b d b . a 31 D2010, d g’ iaa b d d rm (2009: rm276.4 ).

16 AVAILABLE-FOR-SALE FINANCIAL ASSETS

Group and Compan

2010 RM’000 RM

Non-current

a 1 J – d –

e d frs 139 (n 40) 132,663

a 1 J (d) 132,663

add 16,000f – d 4,279

a 31 Db 152,942

i d , aa X sd Bd, d (n 17) b-- d frs 139.

D , g d 16,000,000 db b s 1 (“rcprm1.00 aa X sd Bd.

t bd (per) d b . t x xd k d . t d d.


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187




17 OTHER INVESTMENTS

Group and Company

2010 2009RM’000 RM’000

Non-current:

r b b 25 37i aa X sd Bd – 26,667

25 26,704

w d frs 139 1 J 2010, d b-- ( n 16).

Group and Company

2010 2009RM’000 RM’000

a 1 J – d 26,704 26,715e d frs 139 (26,667) –

a 1 J (d) 37 26,715a (12) (11)

a 31 Db 25 26,704

18 GOODWILL

GroupRM’000

Cost/net book value

a 31 Db 2009/31 Db 2010 8,738

t g dk d. t d d g’ , d bd, aail. n d d d 31 Db 2010 b x .

Key assumptions used in the value-in-use calculations

t b - d d dd bd -- . t -- dd d j - d bd’ b. t j bd’ x , d bd x d k , x k d d .

f -- , d 10% b d. t d dd k b .

Impact of possible change in key assumptions

s d d, d d k .


page >

188



19 DEFERRED TAXATION

Dd x d b b x b d dd x x . t , dd b :

Group and Compan

2010

RM’000 RM

Dd x 719,260 751

t dd x d b g d c d :

Group and Compan

2010 RM’000 RM

a 751,274 856(cd)/dd (n 10)– p, d (197,852) (58– tx 165,838 16– tx – (24– p – (37

(32,014) (104

a d 719,260 751

Dd x (b )tx 991,735 825tx 9,171 9

1,000,906 835o (281,646) (83

Dd x ( ) 719,260 751

Dd x b (b )p, d (281,646) (83o 281,646 83

Dd x b ( ) –


page >

189




19 DEFERRED TAXATION (CONTINUED)

a dd n 3 d jd, dd x d b c’ d , d x bb xb b b d b d. e xb , , d , , d . t b b bd d djd - d b .

o 27 m 2010, m f, d c d s 127 i tx a, 1967 xx i a (“ia”) 60% xd d d 5 1 J 2009 30 J 2014, b 70% . i , d d ia bd 30 J 2009 kd k j. ia d b J d Db 2009 b d ddx 31 Db 2010.

20 RECEIVABLES AND PREPAYMENTS

Group Company

2010 2009 2010 2009RM’000 RM’000 RM’000 RM’000

Non-current:

l 23,593 23,593 23,593 23,593

Current:

td b 105,325 70,520 93,911 70,530l: a (1,994) (1,994) (1,994) (1,994)

103,331 68,526 91,917 68,536

o b 124,045 114,161 110,815 113,870l: a (1,072) (1,072) (1,072) (1,072)

122,973 113,089 109,743 112,798

p 326,049 250,997 325,516 250,408D 288,769 288,470 288,745 287,866

841,122 721,082 815,921 719,608

cd d b 0 60 d.


page >

190



20 RECEIVABLES AND PREPAYMENTS (CONTINUED)

a 31 Db 2010, g’ d b rm103,331,000 rm78,543,000 dd d rm24,788,000 d b d. t b dd d. t d b d b d :

G

RM

u 3 9o 3 15

24

a 31 Db 2010, d b rm1,994,000 d d dd . t rm1,994,000 31 Db 2010.

t x b d d (xd ) :

Group Company

2010 2009 2010 RM’000 RM’000 RM’000 RM

rm 122,123 118,805 97,466 117usD 353,417 343,374 353,417 343o 39,533 7,906 39,522 7

515,073 470,085 490,405 469

idd d , d bd.

idd d d d d rm215.8 (2009: rm192.8 ) g d c.

t d d b d d .

t x x d k d b d b. td d .

t g’ d c’ d d b x .


page >

191




21 AMOUNTS DUE FROM/(TO) A JOINTLY CONTROLLED ENTITY

t d t aa c. ld (“taa”), j d , dd us D, d, xd d b c’ b . t d taa d 6% 1 J 2010.

t d j d dd 31 Db 2010 :

Group

2010 2009

RM’000 RM’000

Current

a 1 J d 366,388 309,683e d frs 139 (15,462) –

a 1 J (d) 350,926 309,683

r d x 468,082 385,238r d (684,781) (312,459)f x (39,424) (16,074)ud d b frs 139 4,999 –

a 31 Db 99,802 366,388

t d j d c rm322.6 (2009: n) d b bd d.

22 AMOUNTS DUE FROM/(TO) ASSOCIATES

t d d xd d b c’ b . a rm117,964,000 (2009: rm253,037,000) b 12 . a d d 6% 1 J 2010.

t d dd 31 Db 2010 :

Group

2010 2009

RM’000 RM’000

Current

a 1 J 456,967 387,647e d frs 139 (16,841) –

a 1 J (d) 440,126 387,647 r d x 520,800 490,403r d (618,226) (404,639)f x (66,998) (16,444)ud d b frs 139 4,648 –

a 31 Db 280,350 456,967


page >

192



22 AMOUNTS DUE FROM/(TO) ASSOCIATES (CONTINUED)

t x d /() :

Group and Compan

2010 RM’000 RM

a d – usD 268,058 445– p p (“php”) 12,292 11

280,350 456

a d – s D (“sgD”) (5,223) (3

23 INVENTORIES

Group Company

2010 2009 2010 RM’000 RM’000 RM’000 RM

s d b 14,304 18,050 14,304 18i d d 3,249 2,814 2,701 2

17,553 20,864 17,005 20

24 AMOUNTS DUE FROM SUBSIDIARIES AND A RELATED PARTY

t d bd d, b d xd .

t d d dd r m, d, d xd .


page >

193




25 CASH AND CASH EQUIVALENTS

f , d d :

Group Company

2010 2009 2010 2009RM’000 RM’000 RM’000 RM’000

c d bk b 681,859 254,207 676,303 253,240D d bk 719,439 391,478 719,439 391,478s- d d 103,319 100,627 103,319 100,627

D, d bk b 1,504,617 746,312 1,499,061 745,345D dd (28,789) (27,847) (28,789) (27,847)

1,475,828 718,465 1,470,272 717,498

t x d, d bk b :

Group Company

2010 2009 2010 2009RM’000 RM’000 RM’000 RM’000

m r 784,672 526,688 783,031 525,721ud s D 211,677 121,107 207,851 121,107s D 172,680 37,246 172,640 37,246a D 118,327 – 118,327 –c y 63,898 21,143 63,898 21,143

h K D 63,428 1,843 63,428 1,843id r 41,802 5,729 41,802 5,729t B 17,403 20,591 17,361 20,591id r 10,691 1,785 10,691 1,785B D 9,288 8,047 9,288 8,047e 397 778 392 778o 10,354 1,355 10,352 1,355

1,504,617 746,312 1,499,061 745,345

t d d bk dd bk d c.


page >

194



25 CASH AND CASH EQUIVALENTS (CONTINUED)

t d d b d :

Group Company

2010 2009 2010 % % %

D d bk 2.62 2.95 2.62

s- d d 2.64 2.54 2.64

26 TRADE AND OTHER PAYABLES Group Company

2010 2009 2010 RM’000 RM’000 RM’000 RM

td b 53,178 90,433 31,710 81a 121,725 114,660 121,725 114a 254,036 261,448 254,036 261o b d 484,004 406,449 476,873 404

912,943 872,990 884,344 861

t x d d b :

Group Company 2010 2009 2010

RM’000 RM’000 RM’000 RM

rm 343,518 817,010 314,919 805usD 553,608 44,415 553,608 44o 15,817 11,565 15,817 11

912,943 872,990 884,344 861


page >

195




27 AMOUNTS DUE TO SUBSIDIARIES AND A RELATED PARTY

t d bd d d dd r m, d, d xd .

28 HIRE-PURCHASE PAYABLESt d - , b :

Group and Company

2010 2009

RM’000 RM’000

m :

– n 1 19 66– l 1 d 5 – 19

19 85l: f (4) (13)

p b 15 72

p b:– n 1 15 56– l 1 d 5 – 16

15 72

lb d - d d.

a 31 Db 2010, b - b 3.75% (2009: 3.46%) g d c. t b dd r m.


page >

196



29 BORROWINGS

Group and Company

Weighted

averagerate of finance 2010

2010 2009 RM’000 RM

% %

Current:

t 4.09 4.15 493,211 429r d – 4.10 – 48f b 5.50 5.48 51,689 53

cd mb f 4.46 3.99 9,067 8

553,967 540

Non-current:

t 4.09 4.15 5,906,715 5,507f b 5.50 5.48 876,929 1,031cd mb f 4.46 3.99 99,240 108skk 4.85 4.85 420,000 420

7,302,884 7,067

t b 7,856,851 7,607

t g’ b b :

Group and Compan

2010

RM’000 RM

n 1 553,967 540l 1 d 5 2,863,736 2,557l 5 4,439,148 4,510

7,856,851 7,607

t x b :

rm 528,307 585usD 7,204,819 6,972euro 123,725 50

7,856,851 7,607


page >

197




29 BORROWINGS (CONTINUED)

t d - b :

Group and Company

2010 2009

Carrying Fair Carrying Fair

amount value amount valueRM’000 RM’000 RM’000 RM’000

t 5,906,715 4,743,235 5,507,796 4,230,803f b 876,929 617,939 1,031,313 769,815cd mb f 99,240 80,085 108,587 86,889skk 420,000 382,043 420,000 371,768

7,302,884 5,823,302 7,067,696 5,459,275

t b , d . t bd dd bd b 3.8%.

t b , b (ij) d cd mb f , d .

t d b - b. t d b :

() a d ab

(b) a

() a d

t cd mb f d b d .

t skk d c’ xd d k . t skk d b :

() a d d b bk dd b ; d

() a d ij s r a d b c x.

t g d b :

2010 2009RM’000 RM’000

fxd :– x 48,000 –


page >

198



30 DERIVATIVE FINANCIAL INSTRUMENTS

Group and Compan2010

Assets LiabiRM’000 RM

Non-current

i – d – (211

i – d d 23,306 (105

fd x – d 2,238 (132fd x – d d – (3

t 25,544 (452

t d d d - b d 12 d, b, dd 12 .

t d d d rm6.1 (n

2010

Notionalamount Fair

RM’000 RMequiv

i 635,877 23i 2,684,830 (317c 198,491 (11

fd x 3,522,199 (122

t d d d dd . t d x d dd x bd d b d. i d d , g k bd k d x b d. t d . h, d d d bd k d.


page >

199




30 DERIVATIVE FINANCIAL INSTRUMENTS (CONTINUED)

(i) Forward foreign exchange contractst d d x 31 Db 2010 rm3.721.

a 31 Db 2010, g dd x 41% usD b , d m r (“rm”) b dd x d . t d dd t aa d id aa c usD. h, bd b dd m, x 60% dd usD rm. t d d x 3.2528 usD:rm. g d d d d x 31 Db 2010 d d d d dd .

(ii) Interest rate hedging

t d 31 Db 2010 rm3.321 b.

t g d d d usD liBor x dd 2005 2010. a 31 Db 2010, g dd x k b 3.25% d 5.20% , d - . g d d d 31 Db 2010 b d bk b (n 29).

(iii) Fuel hedging

a 31 Db 2010, g d d .

31 SHARE CAPITALGroup and Company

2010 2009

RM’000 RM’000

Authorised:

od rm0.10 :a b d d 500,000 500,000

Issued and fully paid up:

od rm0.10 :a b 275,774 237,421id d 1,570 38,353

a d 277,344 275,774

D , c d d d d- d rm275,774,458 rm277,343,608b 15,691,500 d rm0.10 x e s o s(“esos”) x rm1.08 . t x esos rm15,377,670, bdd s p .

t d d d kd x d c. t d d d- c d .


page >

200



31 SHARE CAPITAL (CONTINUED)

D , c d d d d- d rm237,420,9rm275,774,458 b 380,000,000 d rm0.10 rm1. b bk-bd d 3,535,000 d rm0.10 x x rm1.08 . t bk-bd d x esos rm467,400,00rm3,464,300 d b dd s p .

t d d d kd x d c. t d d d- c d .

EMPLOYEE SHARE OPTION SCHEME (“ESOS”)

t c d esos 1 sb 2004 (“ s”). t esos d b b- b d 7 J 2004 d d 5 d .

t esos :

() t x b d , b d x d s, xd (10.0%) d d d- c d ds.

(b) t o c dd d b b d b eb p s.

() t b b d eb p d b b d s b d o c. t o c eb p’ b, g, k jb d, eb p dd g, g’ d eb p d xd d . t o c’ d b

bd.

(d) t x b d ex D, n-ex D d b xd (50.0%) b ( d b ) b d s.

() t b , d d B m, b rm1.08

() t d xb b d .

t b d d d d x , d , k x d d x d b d ddd, d/ db b dd, d d d d . t c.

t c d 93,240,000 x rm1.08 d esos 1 sb

xd 6 J 2009. D dd 31 Db 2009, d esos xdd 6 J 2014.

a 31 Db 2010, bb 10,437,400 (2009: 26,460,900) d rm0.10 x rm1.08 xd. t d d .


page >

201




31 SHARE CAPITAL (CONTINUED)

EMPLOYEE SHARE OPTION SCHEME (“ESOS”) (CONTINUED)

s b d d c d d esos:

ExerciseExpiry price At At

Grant date date RM/share 1.1.2010 Granted Exercised Lapsed 31.12.2010‘000 ‘000 ‘000 ‘000 ‘000

1 s 2004 6 J 2014 1.08 26,461 – 15,692 332 10,437

2010 2009

‘000 ‘000

nb d b d 10,437 26,461

D xd d :

Quoted price

of shares Numberat share Exercise of shares

Exercise date issue date price issued

RM/share RM/share ‘000

J 2010 m 2010 1.27–1.46 1.08 1,084

a 2010 J 2010 1.11–1.43 1.08 604J 2010 sb 2010 1.25–2.25 1.08 5,963ob 2010 Db 2010 2.12–2.74 1.08 8,041

15,692

2010 2009RM’000 RM’000

od 1,570 353s 15,378 3,464

pd d x 16,948 3,817

f x d d 32,182 4,580


page >

202



32 RETAINED EARNINGS

ud - x dd b f a, 2007 d x d d s 108 i tx a 1967 ddd . Dd d x x d d.

c s 108 d 31 Db 2007 kd ddd s 108 dxd 31 Db 2013, , dd s 108 d - dd f a, 2007.

a 31 Db 2010, c s 108 x d x rm19.0 (2009: r) d kd ddd. t x d d d d rb (2009: rm1.13 b).

i dd, c x x 31 Db 2010 x rm0.5 (2009: r

) b db x x ddd d.

33 DIVIDENDa d ddd dd 31 Db 2010 3 (2009: n) , ddd rm76,860,918, b d a g m c d b d d r mb b 20 J 2011, :

2010 2009

Gross Amount Gross Amdividend of dividend dividend of div

per share net of tax per share net oSen RM’000 Sen RM

f d ddd

dd 31 Db 2010:

g ddd 0.91 25% x 0.91 19,026 – tx x ddd 0.02 528 – s-d ddd 2.07 57,307 –

3.0 76,861 –

t d ddd b d b b d.


page >

203




34 COMMITMENTS () c dd :

Group and Company

2010 2009RM’000 RM’000

p, d :ad d d 12,829,657 16,234,759ad b d 7,931,251 8,492,282

20,760,908 24,727,041

p, d :s j d ’ 17,100 10,805s ’ 8,626 8,505

t g d c d .

(b) n-b

t d b d -b :

Group and Company

2010 2009

Future Future Future Future

minimum minimum minimum minimumlease sublease lease subleasepayments receipts payments receipts

RM’000 RM’000 RM’000 RM’000

n 1 49,469 422,224 100,389 350,835l 1 d 5 172,266 768,539 203,491 640,280l 5 194,136 – 260,486 –

415,871 1,190,763 564,366 991,115

sb d b d d d .


page >

204



35 CONTINGENT LIABILITIES

t aa c. ld (“taa”), j d g, b d b b c’ ’ d rm n (31.12rm5.0 ) b d d d d -, d db bk. h, taa d b ’ b dd taa.

36 SEGMENTAL INFORMATIONs , b d g’ b .

t g’ dd d m.

37 SIGNIFICANT RELATED PARTY TRANSACTIONS

t d c b c d bd, j d . D d n 13, 14 d 15 .

a d d d d d.

K d d k d gc. t k dd n 37() b.

rd d d, j d d d d b k b, b.

Group Company

2010 2009 2010

RM’000 RM’000 RM’000 RM

(a) Income:

a d dd

– t aa c. ld 223,553 175,035 223,553 175– pt id aa 172,390 145,297 172,390 145

s d aa X sd Bd, D d d 85,845 57,028 85,845 57


page >

205




37 SIGNIFICANT RELATED PARTY TRANSACTIONS (CONTINUED)

Group Company

2010 2009 2010 2009

RM’000 RM’000 RM’000 RM’000

(b) Recharges:

m d – t aa c. ld 24,363 27,809 24,363 27,809– pt id aa 12,164 26,895 12,164 26,895

l d d– t aa c. ld – 43,414 – 43,414

– pt id aa – 46,330 – 46,330

(c) Receivables:

– aa (m) ld – – 422,415 194,503– aa i ld – – 7,208 3,123– t aa c. ld 99,802 366,388 – 171,885– pt id aa 268,058 445,776 268,058 445,776– c c s sd Bd – – 2,757 –– aa p i 12,292 11,191 12,292 11,191– aa X sd Bd – 3,303 – 3,303

(d) Payables:

– aa g hd sd Bd – – 44,251 27,922– t aa c. ld – – 322,614 –– c c s sd Bd – – – 1,133– aa p ld – 3,382 5,223 3,382– aa X sd Bd 41,262 – 41,262 –

(e) Key management compensation

– b , b d 24,774 13,617 24,774 13,617– dd b 2,730 1,455 2,730 1,455

27,504 15,072 27,504 15,072

idd k ex D’ dd n 5.


page >

206



38 FINANCIAL RISK MANAGEMENT POLICIES

t g’ k k b dg’ b d d d -- x , , d, d d k. t g dd d d d d d Bd .

t j :

(a) Market risk

(i) Fuel price risk

t g xd j k j . i k d d d dd k .

(ii) Interest rate risk

i b b k , g’ d d b k . i x g’ bd d d b d x xd d db d d D d, b d , dd xd . s d d b b .

t g d d b d d d d d x d - db xdb. h, x 3% db d b d d kd ld i Bk o r (“liBor”).

D , c d b d

b - d - .

a , g -d d d s b bddd d xd .


page >

207




38 FINANCIAL RISK MANAGEMENT POLICIES (CONTINUED)

(a) Market risk (continued)

(ii) Interest rate risk (continued)

a 31 Db 2010, usD dd b d b 60 b / b d , -x d , /d d d d bd b:

+60 basis points -60 basis points

RM’000 RM’000

i x 12,559 (48,396)i 58,222 (65,511)

t d d c 31 Db 2010, dd usD, :

2010 2009

RM’000 RM’000

equivalent equivalent

l 5 :

i 635,877 768,188

i 2,684,830 3,409,159

c 198,491 213,413

3,519,198 4,390,760


page >

208




(ii) Interest rate risk (continued)

t x d b g d c k d b :

Functional Effectivecurrency/ interest Total Floating Fixed interest rate

Financial currency at balance carrying interest 1 year > 1-2 > 2-3 > 3-4 > 4-5 MorInstruments exposure sheet date amount rate or less years years years years 5

% per annum RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM

Group and Company

31 December 2010

Dp wld bk RM/RM 2.62 719,439 – 719,439 – – – –

Dp wd gp RM/RM 2.64 103,319 – 103,319 – – – –

t l RM/USD 4.09 (6,399,926) (178,157) (510,419) (528,744) (542,680) (562,542) (578,713)(3,49f l RM/USD 5.50 (928,618) – (51,689) (54,958) (58,673) (62,515) (66,608) (63cdy

mbf RM/USD 4.46 (108,307) – (9,067) (9,566) (10,094) (10,650) (11,237) (5

skk RM/RM 4.85 (420,000) – – – (420,000) – – h-p

pybl RM/RM 3.75 (15) – (15) – – – –

(7,034,108) (178,157) 251,568 (593,268)(1,031,447) (635,707) (656,558)(4,19

31 December 2009

Dp wld bk rm/rm 2.95 391,478 – 391,478 – – – –

Dp wd gp rm/rm 2.54 100,627 – 100,627 – – – –

t l rm/usD 4.15 (5,937,371) (105,393) (422,690) (432,527) (447,997) (458,119) (474,759) (3,59f l rm/usD 5.48 (1,085,190) – (53,877) (57,405) (61,036) (65,161) (69,428) (77cdy

mbf rm/usD 3.99 (117,347) – (8,760) (9,067) (9,566) (10,094) (10,650) (6

skk rm/rm 4.85 (420,000) – – – – (420,000) – rvlvg d rm/usD 4.10 (48,000) – (48,000) – – – – h-p

pybl rm/rm 3.46 (72) – (56) (16) – – –

(7,115,875) (105,393) (41,278) (499,015) (518,599) (953,374) (554,837) (4,44


page >

209





(a) Market risk (continued)

(iii) Foreign currency risk

t g bd d d dd . t x g d c usD, t B d idr. t g d x b d b dd b b d .

t c d x x b db.

a 31 Db 2010, d kd/d b 5% usD b d

, -x d b myr201.4 /, x / usD dd b d b ( & ). s, d b rm3.7 / d d usD. t x eur k g d , d.

(b) Credit risk

t g’ x d k k d d d bk b,b d d . t x x d k d b b .

cd k d b d , d d. cd k d b b . i dd, d k d j g’ d d bk bd d d d j d b . t D b - b j b

d .

t g d k d b.


page >

210




() ld d k

t g’ d k d b d d d d d d k .

t b b g’ -d b, -d d -d d bd d b d d dd b b dd .

At 31 December 2010

Under 1 year 1 – 2 years 2 – 5 years Over 5 y

RM’000 RM’000 RM’000 RM

t 702,425 712,286 2,954,474 3,659

f b 68,265 72,118 1,028,971 196

cd mb 14,761 14,774 44,266 65

skk 20,370 20,370 430,185

td d b 689,784 – –

D

n-d d

td 37,578 31,908 38,525 hd 72,865 64,260 75,806 2

g-d d

td – 10,149 9,649 17,780 td – (9,567) (9,095) (16,670) hd – 366,035 362,625 1,080,724 1,793hd – (341,797) (339,837) (1,023,389) (1,700


page >

211





(d) c k

t g’ bj d g’ b d d d d b kd.

i d , g’ b, g dj ddd d d, d, , k db d db.

c d, g b . t d db ddd b . t db d b (d “ d b” b ). t d ‘ bb d c’ b d db.

t 31 Db 2010 :

Group

2010

RM’000

t b 7,856,851

t bb d c 3,640,960

t 11,497,811

g 68.3%

39 FINANCIAL INSTRUMENTS

() f b

31 December 2010

Assets atfair value

through DerivativesLoans and the profit used for Available

receivables and loss hedging for sale TotalRM’000 RM’000 RM’000 RM’000 RM’000

Assets as per balance sheet

ab – – – 152,942 152,942td d bxd 606,456 – – – 606,456

D – 23,306 2,238 – 25,544

c d 1,504,617 – – – 1,504,617

t 2,111,073 23,306 2,238 152,942 2,289,559


page >

212



39 FINANCIAL INSTRUMENTS (CONTINUED)

() f b (d)

31 December 2010

Liabilities Otherat fair financial

value liabilitiesthrough Derivatives at

the profit used for amortised

and loss hedging cost RM’000 RM’000 RM’000 RM

Liabilities as per balance sheet

B (xd b) – – 6,928,233 6,928

f b 928,618 928D 108,752 344,113 – 452td d b xd b – – 959,428 959

h b – – 15

t 108,752 344,113 8,816,294 9,269

1 p xdd d d b b, d .

2 s b xdd d b b, d


page >

213




39 FINANCIAL INSTRUMENTS (CONTINUED)

(b) cd

t d d d b d b x d ( b) b d :

2010

RM’000

c x d

g 1 15,774g 2 102,909

t d d b d b 118,683

c bk d - bk d

aa2 a- 1,398,674

BBB B1 105,943

1,504,617

D

aa+ 23,306a 2,238

25,544

l d

g 2 380,152

g 1 – n /d (l 6 )g 2 – ex /d ( 6 ) d .g 3 – ex /d ( 6 ) d .

a d d.


page >

214



40 CHANGES IN ACCOUNTING POLICIES

() t g’ d c’ b :

Balances as at 1 January 2010

As previouslystated FRS 139 As res

RM’000 RM’000 RM

Group

o 26,667 (26,667) ab-- – 132,663 132

D – (130,645) (130a d j d 366,388 (15,462) 350a d 456,967 (16,841) 440

rd (1,138,438) 97,278 (1,041c d – 65,670 65ab-- – (105,996) (105

Company

o 26,667 (26,667) ab-- – 132,663 132

D – (130,645) (130rd (1,138,438) 97,278 (1,041c d – 65,670 65

ab-- – (105,996) (105

() i g’ d c’ :

Increase/(decrease) ffinancial year end

31 December 201

FRS 139

RM’000 RM

o :

ab-- 4,279 4c d (5,639) (5

f d (107)

t d frs 139 c dd 31 Db 20


page >

215




41 SUPPLEMENTARY INFORMATION DISCLOSED PURSUANT TO BURSA MALAYSIA SECURITIES LISTING REQUIREMENT

t d d d d d d gd s m n. 1 – D rd d ud p l cx D p Bm s Bd l r, d b m i a. t d bd bd b B m s Bd.

Group Company

As at As at31.12.2010 31.12.2010

RM’000 RM’000

t d aa Bd d bd:– rd 997,581 981,345

– ud 1,121,156 1,121,156

2,118,737 2,102,501

t d d :– rd (4,112) –

– ud – –

t d j d – rd (12,054) –

– ud – –

t d dd 2,102,571 2,102,501

t d d d d b d d b B m s

Bd d d b d .


page >

216



statement BY Directorspursuant to section 169(15) of the companies act, 1965

statUtorY Declarationpursuant to section 169(16) of the companies act, 1965

w, D’ s D. a f fd d D’ Kd b m, b D aa Bd, D, 140 216 d d g d c 31 Db 2010 d d g d c dd d d c a, 1965 d f r sddmasB d dd m e o p e.

i d Bd D dd 28 a 2011.

DATO’ SRI DR. ANTHONY FRANCIS FERNANDES DATO’ KAMARUDIN BIN MERANUN

Director Director

i, rz b o, o b aa Bd, d d d 140 216 , , d i k d b b , d b s D a, 1960.

Rozman bin Omar

sbbd d dd b bd rz b o p J m 28 a 2011 b .

commissioner for oaths


page >

217



inDepenDent aUDitors’ report

to the memBers of airasia BerhaD (id m) (c n. 284669-w)

REPORT ON THE FINANCIAL STATEMENTS

w dd aa Bd 140 215, b 31 Db2010 g d c, d , , d gd c dd, d d x , n 1 40.

Directors’ Responsibility for the Financial Statementst D c b d d masB ad a sdd m e o p e d c a, 1965, d D d b , d d .

Auditors’ Responsibilityo b x bd d. w dd d d d dd d m. t dd d d d b b .

a d d b d d b d d . td d dd jd, d k , d d . i k k , d ’ d d d d d , b x ’ . a d d d d b d b D, .

w b d d bd d d b d .

Opinioni , b d d masB d dd m e o p e d c a, 1965 d gd c 31 Db 2010 d d dd.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTSi d c a, 1965 m, :

) i , d d d d b a b k b c d bd d d b k d a.

b) w dd d d’ bd d d, dd n 13 .

) w d bd b dd c’ d d g d d d x d b .

d) t d bd dd d d ds 174(3) a.


page >

218



OTHER REPORTING RESPONSIBILITIES

t n 41 216 dd B m s B . t D b dgd s m n. 1, D rd d ud p l cx D p m s Bd l r, d b m i a (“mia gd”) d dB m s Bd. i , d, , d mia gd d d B m s Bd.

OTHER MATTERS

t d b c, bd, d s 174 c a, 1965 md . w d b .

PRICEWATERHOUSECOOPERS SRIDHARAN NAIR

(n. af: 1146) (n. 2656/05/12 (J))cd a cd a

K l28 a 2011


page >

219



a nalYsis oFsHareHolDinGs as at 21 april 2011

DISTRIBUTION OF SHAREHOLDERS

c : od rm0.10 (“s”)

v : o d

ShareholdingsNo. of

Shareholders% of

ShareholdersNo. of

Shares

% of Issued Share

Capital

l 100 87 0.48 1,749 0.00

100 – 1,000 5,615 30.92 5,032,755 0.18

1,001 – 10,000 10,112 55.68 41,522,944 1.50

10,001 – 100,000 1,720 9.47 51,047,740 1.84

100,001 5% d 624 3.43 1,882,438,015 67.82

5% d b d 3 0.02 795,480,877 28.66

18,161 100.00 2,775,524,080 100.00

SUBSTANTIAL SHAREHOLDERS

t d d d d d d 5% aa Bd bd r sb

sd :-

Name

DIRECT INDIRECT

No. of Shares Held

% of Issued Shares

No. of Shares Held

% of Issued Shares

t a sd. Bd. 729,458,382(1) 26.28 – –

D’ s D. a f fd 2,627,010(2) 0.09 729,458,382(3) 26.28

D’ Kd b m 1,692,900 0.06 729,458,382(3) 26.28

e pd fd Bd 219,758,900(4) 7.92 30,392,500 1.09

g s c 150,635,581(5) 5.43 – –

w m c, llp 153,265,415(6) 5.52 – –

notes:(1) s d d c n (t) sd. Bd., ecml n (t) sd. Bd., hsBc n (t) sd.

Bd., d mb n (t) sd. Bd.(2) s d d c n (t) sd. Bd.(3) Dd d b s 6a c a, 1965 (“ a”) d 15% t

a sd. Bd.(4) s d d (1,500,000 ) d c n (t) sd. Bd. (218,258,900 )(5) s d d hsBc n (a) sd. Bd.(6) s d d cb n (a) sd. Bd., c n (a) sd. Bd., gd s i, hsBc

n (a) sd. Bd., Jp m c Bk n.a., m t Bk J ld., m Bk n.a., d rBc Dx i

s.


page >

220



DIRECTORS’ SHAREHOLDINGS

t D aa s d c d d bd

c’ r D’ sd :-

Name

<----DIRECT----> <-------INDIRECT----->

No. of Shares Held

% of Issued Shares

No. of Shares Held

%Issued Sha

D’ s D. a f fd 2,627,010(1) 0.09 729,458,382(2) 26

D’ Kd b m 1,692,900 0.06 729,458,382(2) 26

D’ abd azz @ abd azz b ab Bk – – –

c m c 14,125,903(3) 0.51 –

D’ l s @ l K s 100,000 -* –

D’ f l e 100,000 -* –

Dk a b a – – –

D’ md Kd b m – – –

md o b m – – –

NOTES:

* nb.(1) s d d c n (t) sd. Bd.(2) Dd d b s 6a a, d 15% tasB(3) s d d (100,000 ) d hsBc n (a) sd. Bd. ex an cd s (sg Br-tst

(14,025,903 )

t D d d rm0.10 c:

ShareholdingsPrice

per option shareN

Option S

D’ s D. a f fd rm1.08 600

D’ Kd b m rm1.08 600

# t d d c d 1 sb 2004 c’ e

o s (“esos”) d b d 7 J 2004. o 28 m 2009, c xdd d

esos xd 6 J 2009 5 6 J 2014. t d esos B-l. t

x bj d .

n D bd c dd b


page >

221



list oF top 30sHareHolDers as at 21 april 2011

No Name Of Shareholders No. Of Shares Held

% Of Issued

Share Capital1. t a sd. Bd. 420,786,396 15.16

2. c n (t) sd. Bd.Employees Provident Fund Board

224,058,900 8.07

3. hsBc n (a) sd. Bd.BBH (LUX) SCA for Genesis Smaller Companies

150,635,581 5.43

4. cb n (a) sd. Bd.SSBT Fund HG05 for the New Economy Fund

135,334,000 4.88

5. hsBc n (a) sd. Bd.TNTC for The Nomad Investment Partnership LP Cayman

115,000,000 4.14

6. hsBc n (a) sd. Bd.Exempt an for JPMorgan Chase Bank, National Association (U.S.A.)

74,232,150 2.67

7. mb n (t) sd. Bd.Kuwait Finance House (Malaysia) Berhad for Tune Air Sdn. Bhd. (Tony Fernandes)

71,000,000 2.56

8. cb n (a) sd. Bd.

SSBT Fund HG22 for Smallcap World Fund, Inc.

64,000,000 2.31

9. hsBc n (a) sd. Bd.NTGS LDN for Skagen Kon-Tiki Verdipapirfond

62,078,300 2.24

10. ecml n (t) sd. Bd.Pledged Securities Account for Tune Air Sdn. Bhd. (001)

58,000,000 2.09


48,335,367 1.74

12. hsBc n (t) sd. Bd.Credit Suisse HK for Tune Air Sdn. Bhd.

40,000,000 1.44

13. cb n (a) sd. Bd.Exempt an for State Street Bank & Trust Company (West CLT OD67)

39,255,800 1.41

14. hsBc n (t) sd. Bd.Six Sis for Tune Air Sdn. Bhd.

35,000,000 1.26

15. v sd. Bd. 26,597,900 0.96

16. hsBc n (a) sd. Bd.

Exempt an for Morgan Stanley & Co. Incorporated (Client)

25,996,100 0.94

17. mb n (t) sd. Bd.Mayban Trustees Berhad for Public Ittikal Fund (N14011970240)

24,429,800 0.88

18. c n (a) sd. Bd.CBLDN for Kuwait Investment Authority

23,459,500 0.85


22,586,619 0.81

20. mb n (t) sd. Bd.Mayban Trustees Berhad for Public Regular Savings Fund (N14011940100)

22,487,700 0.81

21. hsBc n (a) sd. Bd.BBH And Co Boston for Vanguard Emerging Markets Stock Index Fund

21,550,848 0.78

22. cimsec n (t) sd. Bd.cIMB Bank for Tune Air Sdn. Bhd. (SFD)

20,000,000 0.72

23. a t BdPublic Islamic Optimal Growth Fund

17,302,800 0.62

24. a t BdPublic Islamic Sector Select Fund

17,048,500 0.61

25. hsBc n (a) sd. Bd.Exempt an for The Bank of New York Mellon (Mellon Acct)

16,309,723 0.59

26. hsBc n (a) sd. Bd.Exempt an for JPMorgan Chase Bank, National Association (U.K.)

15,153,390 0.55

27. hsBc n (a) sd. Bd.Exempt an for Credit Suisse (SG BR-TST-Asing)

14,990,603 0.54

28. amsec n (t) sd. Bd. AmTrustee Berhad for CIMB Islamic Dali Equity Growth Fund (UT-CIMB-Dali)

14,715,400 0.53

29. cb n (a) sd. Bd.BBH (LUX) SCA for Fidelity Funds ASEAN

13,832,700 0.50


13,750,000 0.50

page >

222airasia BerhaDannual report2010



list oFproperties HelD

s dd b, 31 Db 2010, c bd d d bd:

Owner of

building

Postal address/

location of

building

Description/

existing use of

building

Tenure/

date of expiry

of lease

Build-up areaApproximate

age of building

Audited

book v

as at

December 2

(RM’0

aa

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tx c,

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pt 39 Klia,

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1,

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aa

ad,

l pt 25B,s

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page >




GroUpDirectorY

CAMBODIA

phnom penhp p a 17 mzz f aD t,p p a, p p

CHINAmacauo 20, mzz lp t, mi a t,m

shenZhenJ h sz, Xy-10,sz e rd,sz

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acehBd s ikd md,B B, a

BaliBd i g n r,t Kbki B 80361

J. l Kj n. 455 K,B

BANDUNGr nb 34Bd h sJ pjj n 156 BdJ B

lbb gd s hJ. l.l. r.e md (r)n. 56 t. (022) 426 1636

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maKassarD ,s hddi a,mk – s sid

m pkk,c pkk,3d f, J. adk Bn. 1, mk – s sid

manaDos r i aJ a.a. m,md 95374

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gd pz hJ. sjn0.18 md - 20213

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palemBangs md Bddd iia pb, s s

peKan Barus s K ii i a,J pb ud s t,pkb

soload s i a,sk 57108

suraBayalbb i tJd i aJ r Jd sbJ t

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adj i aJ. s k.9, yk, 55282

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Johorl n. 162, f s m,D B, J skd,J B

gl 13 s i a81250 J B, J

KeDahlot 20, l tb s abdh, 06200 K B, a s,Kd

lk i a07100 pd m slk

Kuala lumpuru 11, l 1 s sK l, 50470

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gd f,l tb s i p16100 pk cK B, K D n

terengganul n. 15 & 17, t Bd, smd a 21300 K t,t

laBuanl 1, lb a t87008 w pk,lb

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page >




GroUpDirectorY

saBah

l 1& 2, 1 f, t Bd,sdk a, 90719 sdk sb

fl4, 1 f, t a Bd,J a-B, 91100 t,sb

tB228, l 5, gd f,J B, fj cx91000 t, sb

l g24, gd f,w sb, J. t rzk,88000, K Kb, sb

t2: gd f, t 2K Kb i. aod a rd, tj a88100, K Kb, sb

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1 f, m a,98000 B, sk

gf l 946, Bk 9, mc ld D,98000 m, sk

gd f,K i a,93756 K, sk

w h h l, gd fn. 291, sb l 4, J ab93100 K, sk

1 f, m t Bdsb a,96000 sb, sk

selangorgd f, t 3,s abd azz s a

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J Klia s3,s s Z,K l i a,64000 s, s

MYANMAR

yangony i ao u# 01-l, pky, m

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r n:11, D 2,s c at 1, s

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THAILAND

BangKoK sb i ar a1-062 gd f,c a, B-td rd,r t, B p, sk 10540

127 t rd, p nk,Bkk 10200

chiang mai sales officec m i a60, 1 f,tb s, a m,c m 50200

416 t rd,

c m

chiang raic r i a2305/2 404 m 10, tb Bd,a m, c r 57100

hat yaih y i a125 hd i a,m 3 K, Kk,sk 90115

KraBi133 m 5 pk rd,tb nk, a

nk, Kb 81130

narathiwatn a330 m 5, tb kk-K,a m, n 96000

phuKet

pk i a312, 3d f, tb mk,a t, pk 83110

u 9, l p a,n. 39, 39/1, t rd.,p, K, pk

surat thanis t i a73 m 3 tb h,a p,s 84130

uBon ratchathaniub r a224 m 1, tb mkk,a m, ud t 41000

VIETNAM

hnb i albb a, 3d f,h, v

n. 30 l t t s.,h K D.,h c

ho chi minh sales office

v p B v t h254 D t,p.p n l,D 1,h c m c

page >




GlossarY

aa Bd “t c” “aa”.

a d dnb d ’ d d d.

a a b bk d d.

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s a - .


page >

226



FormoF proXY

i/w ______________________________________________________________________________ nric n./c n.: __________________

(full name in BlocK letters) (compulsory)

_____________________________________________________________________________________________________________________(aDDress)

__________________________________________________________________________________________________________________________ b(aDDress)

b AIRASIA BERHAD (“ c”) b _______________________________________________________________

(full name in BlocK letters)

nric n.: _____________________________ _____________________________________________________________________________(compulsory) (aDDress)

__________________________________________________________________________________________________________________________(aDDress)

d/ ____________________________________________________________________________ nric n.: __________________________(full name in BlocK letters) (compulsory)

____________________________________________________________________________________________________ / x((aDDress)

/ d / b e a g m c b d md, 20 J

10.00 .. d dj d dd b:

orDinary resolution Description for again

n. 1 Ordinary Businessr add f s d r

n. 2 D f d f Ddd

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n. 5 r- e. md o b mn. 6 r- D’ l s @ l K s

n. 7 r- ad

n. 8Special Businessa s 132D c a, 1965

(Please indicate with an “X” in the spaces provided how you wish your votes to be cast. If you do not do so, the proxy will vote or abstain from voting as he thi

n. d:

cDs a n.:

t / d b f px :__________%

d b / x : sd px:__________%

D:

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s sd/c

Notes to Form of Proxy

. p s id (c D) (f o) r 1996 d a 43(1) c’ a a,

f ( dd a) d bd 45.0% d d d- ,

b bd rd D b d a g m, b d . a x d b f

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. t px f b d d dd rd o c 25-5, Bk h, J

D p, 47301 p J, s D e, m - (48) b d .Faxed copies of

executed form of proxy are not acceptable.

AIRASIA BERHAD284669-w

(incorporateD in malay



Fold here

Fold here

Company Secretary

aa Bd (c n. 284669-w)

25-5, Bk h, J pJu 1/37

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