Capital A flat in early trade despite agreement to establish MRO business in Cambodia

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Capital A flat in early trade despite agreement to establish MRO business in Cambodia
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KUALA LUMPUR, Sept 21 — Capital A Bhd was flat in early trade despite news that it had signed an agreement to establish a maintenance, repair, and overhaul (MRO) business in...

KUALA LUMPUR, Sept 21 — Capital A Bhd was flat in early trade despite news that it had signed an agreement to establish a maintenance, repair, and overhaul business in Cambodia.On Wednesday, Capital A said in a filing with Bursa Malaysia that its wholly-owned subsidiary Asia Digital Engineering Sdn Bhd had entered into a shareholders agreement with Cambodian-based Sivilai Asia Co Ltd.

Under the agreement, it would subscribe 60 per cent of the issued and paid-up capital of Cambodian joint venture ADE Co Ltd with Sivilai Asia investing the remaining 40 per cent. The filing also said Capital A has incorporated a joint venture company, AirAsia Co Ltd, to start AirAsia branded airlines in Cambodia with operations to commence in November 2023. — Bernama

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