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 Cambodia.
As of 11.35 am, Capital A stood unchanged at RM1.00 with 4.27 million shares transacted.
On Wednesday, Capital A said in a filing with Bursa Malaysia that its wholly-owned subsidiary Asia Digital Engineering Sdn Bhd (ADE) 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 (Cambodia) Co Ltd with Sivilai Asia investing the remaining 40 per cent.
The filing also said Capital A has incorporated a joint venture company, AirAsia (Cambodia) Co Ltd, to start AirAsia branded airlines in Cambodia with operations to commence in November 2023.
