95
AirAsia X Berhad • Annual Report 2014
C. Shareholders and Investors
Investor Relations (“IR”)
The Company is dedicated in maintaining good communications with shareholders
and investors.
Several communication channels are in place to disseminate information to
shareholders and investors on the performance of the Company. These include
the Annual Report, Financial Announcements and Key Operating Statistics and
Announcements through Bursa Malaysia and Annual General Meetings.
Senior management that is supported by the IR Team, participate actively in investor
relations activities that consist of road shows, conferences, quarterly investor briefings
locally and globally with financial analysts, institutional investors and fund managers.
Financial Results, Key Operating Statistics and Presentations on a quarterly basis are
available for download at the Company’s website at
. Shareholders
may also obtain the Company’s announcement on the website or via the Bursa
Malaysia’s website at
In conjunction with AirAsia X’s Initial Public Offering (“IPO”), the Shareholders’ Benefit
Programme was implemented. This programme is running for three (3) years from
the first anniversary of the IPO. The terms and conditions of this benefit are made
available on the Company’s website at
. For any enquiries relating
to the benefits availability; eligibility criteria or general enquiry on this programme,
shareholders can reach the team through
or Customer
Support Line 603 8775 4680 during operating hours from 9.00 am to 6.00 pm
(Malaysian time) Mondays to Fridays.
Any investor relations enquiries or information on the Company may be directed to
the IR Team.
AGM
AGM is another avenue for shareholders to interact with the senior management of
the Company. Shareholders will be notified of the meeting date and time together
with an e-copy of the Company’s Annual Report at least 21 days before the meeting
is held.
The GCEO or the Acting CEO will do a brief presentation on the Company’s financial
performance and the outlook. The Chairman and each Board Committees’ Chairman
will be present, if possible at the AGM to respond to any query by the shareholders
and views during the meeting. Given the size and geographical diversity of our
shareholders’ base, the AGM is another important forum for shareholders’ interaction.
Corporate Disclosure Policy and Procedures
AirAsia X continues to fulfil its duty on disclosure obligation required upon the Company
according to the guidelines and regulation of Bursa Malaysia’s Corporate Governance
Guidelines. All disclosure of material corporate information will be disseminated in an
accurate, a clear and timely manner via Bursa Malaysia announcement.
D. Accountability and Audit
Financial Reporting
The Board aims to ensure that the quarterly reports, annual audited financial
statements and annual review of operations in the Annual Report reflect full, fair and
accurate recording and reporting of financial and business information in accordance
with the MMLR of Bursa Malaysia.
The Board aims to ensure the timely release of announcements on quarterly financial
reports that provide the transparency and latest disclosures on the performance of
the Company.
The Board is also required by the Companies Act, 1965 to prepare the Group’s annual
audited financial statements with all material disclosures such that they are complete,
accurate and in conformance with applicable accounting standards and rules and
regulations.
Audit Committee and Internal Control
The Board’s governance policies include a process for the Board, through the Audit
Committee to review regularly the effectiveness of the internal control system and
overseeing the financial reporting process. A report on the Audit Committee and its
summary terms of reference is presented on pages 97 to 99 of this Annual Report.
The Board is responsible for the Company’s internal control system, which comprises a
process for identifying, evaluating and managing the risks faced by the Company and
for regularly reviewing its effectiveness accordingly.
The Board confirms that this process was in place during the year under review
and up to the date of approval of these financial statements. The primary aim is to
operate a system which is appropriate to the business and which can, over time,
increase shareholders’ value whilst safeguarding the Company’s assets. The system
is designed to manage, rather than eliminate, the risk of failure to achieve business
objectives and can only provide reasonable and not absolute assurance against
material misstatement or loss.
The Statement on Risk Management and Internal Control is set out in pages 100 to
102 of this Annual Report.
Relationship with the External Auditors
The Board, through the Audit Committee, has maintained appropriate, formal and
transparent relationship with the external auditors. The Audit Committee meets the
external auditors without the presence of management, whenever necessary, and at
least twice a year. Meetings with the external auditors are held to further discuss the
Company’s audit plans, audit findings, financial statements as well as to seek their
professional advice on other related matters. From time to time, the external auditors
inform and update the Audit Committee on matters that may require their attention.
An External Auditor Independence Policy was established aimed at establishing a
process to monitor the suitability and independence of external auditors.
STATEMENT ON CORPORATE GOVERNANCE
