: AirAsia Group Bhd has reiterated that the transaction whereby it secured the aggregate RM300 million loan facilities from Sabah Development Bank was completed in accordance with all laws, policies and procedures pertaining to its application.
The facilities have been approved by SDB for the development of the various projects and are intended to bring about significant positive socio-economic impacts to the state of Sabah, it said. The company said the transaction would, among others, enable AirAsia to accelerate its expansion plans to transform Kota Kinabalu into an international hub for its passenger and logistics operations.
The facilities, it said, would also be used to develop and enhance cold chain facilities in Sabah that would increase the marketability of the state’s fresh produce domestically and internationally through AirAsia’s Ourfarm digital food supply platform.
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