4 November 2016

AirAsia X Bhd (AAX) has awarded a RM2.51 million contract to Yummy Kitchen Sdn Bhd for the latter to provide food catering services at the AirAsia Lounge in klia2, Sepang.

In a filing with Bursa Malaysia today, the long-haul budget airline said it and Yummy Kitchen have signed a food catering agreement to provide the services for a period of three years, which may be mutually extended prior to its expiry.

Yummy Kitchen is a wholly-owned subsidiary of TP Real Estate Holding Pte Ltd, which owns stakes in hospitality assets in Malaysia, the UK and Australia. TP Real Estate is in turn jointly owned by Tune Hotels.com Ltd and Singapore-based Plato Capital Ltd. Yummy Kitchen is already a restaurateur at Tune Hotels in klia2.

AAX said Yummy Kitchen is deemed to be a related party as Tune Hotels.com’s directors and major shareholders Tan Sri Tony Fernandes and Datuk Kamarudin Meranun are also directors and major shareholders in AAX. Fernandes and Kamarudin are also Plato’s substantial shareholders.

At the same time, Lim Kian Onn is a director and major shareholder in both Tune Hotels.com and Plato and a director and shareholder of AAX.

AAX shares closed down 0.5 sen or 1.15% at 43 sen today, giving it a market capitalisation of RM1.83 billion.

Original Source: theedgemarkets

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