KUALA LUMPUR - Capital A Berhad has appointed former CIMB Group executive Effendy Shahul Hamid as deputy chief executive. Founder Tony Fernandes confirmed the firm targets a Hong Kong stock exchange listing by mid-year, specifically July or August.
This strategic shift follows January’s sale of its short-haul aviation arm to affiliate AirAsia X. While geopolitical tensions have pressured share prices-down 27 percent for Capital A and 41 percent for AirAsia X-Fernandes reports limited operational impact on logistics and branding divisions.
The group also aims to list its branding unit, AirAsia Next, in the United States before year-end. However, these moves depend on exiting the Malaysian stock exchange’s PN17 distressed company classification, which Capital A hopes to resolve upon submitting audited accounts.