choi airasia

HK Poker Player emerges as substantial shareholder of AirAsia

AirAsia Group Bhd, which saw Stanley Choi Chiu Fai’s emergence 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.

Background on Stanley Choi

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.

Through his private vehicle Positive Bloom Ltd, Choi 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.

He 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. It is unsure if he plans on being a passive investor in AirAsia.

Choi 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 a chain restaurant business, providing hotpots, fast food products, desserts, drinks, and other related products.

He also sits on the board of the financial services group, Head & Shoulders Financial Group Ltd. He’s the chairman of the board and executive director.

AirAsia to launch food delivery app

Meanwhile, AirAsia has been in the news lately for the launch of its food delivery service.

The low-cost carrier will be launching a food delivery service based on a new commissions model in Singapore on March 2.

This news comes after a year plagued by struggles with capital, staffing and liquidation due to the ongoing pandemic. Last year AirAsia launched a digital academy along with Google.

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