SINGAPORE (Sept 26): Plato Capital is joining AirAsia Bhd and Everbright Financial Investment Holdings and Oxley Capital to set up a joint venture to establish a budget airline in China called AirAsia (China).

Listed on the Singapore Exchange, Plato Capital is an investment-holding company principally involved in the hospitality, education and precision engineering sectors. Its directors are Lim Kian Onn who owns just over half the company, Michael Kan Yuet Yun, Chong Huai Seng and Oh Teik Khim.

On Monday, Plato Capital signed a non-binding term sheet with the budget airline, private equity firm Oxley and a unit belonging to state-owned China Everbright Group to discuss and negotiate agreements for a proposed joint venture (JV) to set up a low-cost airline in China – AirAsia (China).

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook