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apple developer:AirAsia shares slip on profit-taking; Choi emerges as substantial shareholder

admin2021-02-25155

KUALA LUMPUR: AirAsia Group Bhd, which saw the emergence of Stanley Choi Chiu Fai as its new substantial shareholder, fell at midday. The budget carrier fell 4.21%, or four sen to 91 sen with 70.8 million shares traded on profit taking. AirAsia X Bhd, its low-cost long-haul affiliate fell 10%, or one sen to nine sen with 111.19 million shares done. Choi, a well-known poker player from Hong Kong, emerged as a substantial shareholder of AirAsia after he pumped in RM114.46mil to take up the low-cost carrier's private placement. Choi through his private vehicle Positive Bloom Ltd, acquired 167.1 million, or a 4.17% stake, on Feb 18, raising his shareholding in the airline to 332.5 million shares or an 8.96% stake. Choi is also the co-founding member of Yunfeng Capital, a private capital arm of Alibaba Group’s Jack Ma. He has also served as a member of the senior management of various listed companies in Hong Kong. He is currently the chairman of Hong Kong-listed International Entertainment Corp. It is an investment holding company that operates hotels and leases investment properties equipped with entertainment equipment in the Philippines. Choi is also the co-founder of Yunfeng Fund LP and CEO of Longhui International Holdings Ltd. Longhui operates chain restaurant business, providing hotpots, fast food products, desserts, drinks, and other related products. He also sits on the board of financial services group, Head & Shoulders Financial Group Ltd. He’s the chairman of the board and executive director. Choi obtained a Bachelor Degree of Business Administration (Magna Cum Laude) from Wichita State University in 1995 and Master of Science from University of Illinois at Urbana Champaign in 1996. He also obtained a Doctor degree of Business Administration from the City University in 2013.
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