17 March 2009
KUALA LUMPUR: AirAsia Bhd has entered into an information technology (IT) shared services agreement with Tune Money Sdn Bhd to maximise and optimise the use of the resources, expertise and facilities of AirAsia’s IT department and as an additional source of recurring income to AirAsia.
Under the terms of the agreement, the company would provide Tune Money a range of IT services on sharing basis including but not limited to resources, expertise, and facilities in exchange for a payment of a fee, it told Bursa Malaysia yesterday.
The relevant fee is based on 25% of the total monthly payroll costs of AirAsia’s IT department and the cost of any shared facilities provided by AirAsia to Tune Money by virtue of the agreement.
It is estimated that the fee payable by Tune Money to AirAsia will be RM100,000 per month. Both companies have common shareholders.
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