Kuala Lumpur, Malaysia, December 23, 2024 – Capital A Berhad (Capital A or the Group) today announced the submission of its Proposed Regularisation Plan to Bursa Malaysia Securities Berhad, marking a pivotal step in its journey to exit the Practice Note 17 (PN17) status. This milestone represents Capital A’s achievement in strengthening its financial position and reaffirms its commitment to driving long term growth from here onwards.
Following the submission of the plan to Bursa Malaysia for approval, these are the remaining steps committed by the Group to complete:
- Approval from Bursa Malaysia.
- An Extraordinary General Meeting: To be convened following Bursa Malaysia’s approval to seek shareholder endorsement.
- Approval from the High Court of Malaya: Upon shareholder approval, the plan will be submitted to the High Court of Malaya for confirmation.
- PN17 Upliftment: Completion of these steps will enable the Group to exit PN17 status, marking the successful conclusion of its financial regularisation efforts.
The proposed PN17 plan is subject to the completion of the disposal of aviation.
Capital A remains committed to regulatory compliance and will focus on mitigating risks, including market competition and operational disruptions. The Group is confident in its strategic direction and its ability to execute the regularisation plan effectively, setting the stage for a stronger and more resilient future.