KUALA LUMPUR: Independent expert BDO Governance Advisory Sdn Bhd has cleared AirAsia X Bhd and its two top officials, over the purchase of aircraft and also the sponsorship of the sports team.
The medium-haul low-cost carrier said on Friday Tan Sri Anthony Francis Fernandes and Datuk Kamarudin Meranun had properly disclosed their interests to the board and abstained from discussions and/or decisions relating to the said sponsorships.
Notably, the findings of BDO showed AirAsia X has a robust aircraft procurement process.
“The process was complied with and the company’s aircraft acquisition was justifiable and at prices favourable to the company, ” it said in a statement to Bursa Malaysia.
BDO also found that AirAsia X’s sponsorship of the sports team was approved in compliance with its procedures.
“The sponsorship of the sports team by Airbus was disclosed to and supported by the Board at the relevant time. The sponsorship showed demonstrable benefits to the AIRASIA Group and was not linked to any purchase decisions by the company, ” it said.
To recap, AirAsia X had on Feb 5 and 11 announced about the formation of the board committee comprising of the non-executive members of the board and the appointment of BDO as the independent expert in assisting the committee in undertaking the independent review.
On March 16, BDO presented their report on the findings of the independent internal inquiry conducted by BDO to the committee.
The final report was presented to the committee on Friday.
“The committee has, upon review of the said report from BDO, accepted the final report issued by BDO, ” it said.
AirAsia X also said the report has now been circulated to and accepted by the board excluding Fernandes and Kamarudin.
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