Warisan-approved RM300 mil AirAsia loan under scrutiny

KUALA LUMPUR – AirAsia Group Bhd’s RM300 million loan that was approved three months ago by Sabah’s development bank is now in the spotlight as the new state government is calling on the Malaysian Anti-Corruption Commission (MACC) to investigate the matter.

The Daily Express reported that the loan was approved during the previous Warisan-led government on July 2 by the Sabah Development Bank (SDB) but was “hurriedly disbursed” a few days after Gabungan Rakyat Sabah won the state election and took over.  

Newly minted chief minister Datuk Seri Hajiji Md Noor has called for an independent forensic audit as well as for the MACC to step in, Daily Express said.

Financially distressed AirAsia confirmed with Bursa Malaysia in an October 23 filing that it had received the sum from SDB.

Of the RM300 million, the low-cost carrier will use RM170 million to set up its Ourfarm digital food supply and cold chain facilities in Sabah, RM110 million to partially finance a project to turn Kota Kinabalu International Airport into an international hub on AirAsia’s operations and RM20 million for its e-commerce platforms to promote Sabah products and tourism destination.

AirAsia recorded a net loss of RM1.15 billion for the second quarter for the financial year ended June 30. – The Vibes, October 28, 2020