Capital A secures Bursa Securities’ approval for PN17 Regularisation Plan
KUALA LUMPUR, 7 March 2025 – Capital A Berhad (“Capital A” or “the Company”) has reached a major milestone in its financial transformation journey with the approval of its Proposed Regularisation Plan by Bursa Malaysia Securities Berhad (“Bursa Securities”). This marks a significant step toward the company’s exit from Practice Note 17 (PN17) status, setting the stage for a stronger and more sustainable future.
The approval from Bursa Securities, granted via an official letter dated 7 March 2025, provides a clear path for Capital A to complete its restructuring and restore its financial standing. With this green light, the company is now poised to finalise the implementation of its plan, including capital reduction to set off accumulated losses and the reorganisation of its business units to unlock long-term value for shareholders.
Tony Fernandes, CEO of Capital A, hailed the approval saying, “This is a monumental day for Capital A. I am beyond words. After an extensive restructuring process, we now stand at the threshold of exiting PN17 status. Our journey has been focused on rebuilding our financial foundation, and with today's announcement, we take a giant leap toward a future of financial strength and operational excellence. This is not just about numbers or regulatory approvals—it’s about resilience, about proving that we can come back again, stronger than ever. We are fully committed to executing the plan and delivering even greater value to all our stakeholders, including our customers and our incredible Allstars who never gave up. The best is yet to come!”
The Proposed Regularisation Plan is structured to ensure compliance with Bursa Securities’ listing requirements and includes a series of financial and structural adjustments designed to stabilise and grow Capital A’s business. The approval is subject to the fulfillment of certain conditions, including compliance with all regulatory requirements, obtaining necessary shareholder approvals, and submitting final confirmations of the plan’s completion.
Mun Hui Teh, CFO of Capital A and the architect of the restructuring plan said: "Securing Bursa’s approval is a testament to the hard work, relentless dedication, and strategic direction of Capital A. I want to extend my deepest gratitude to Tony and the entire leadership team for their trust, guidance, and unwavering belief in this vision. This plan will enable us to clean up our balance sheet, realign our core businesses, and ultimately exit PN17 status. We are closer than ever to achieving our goal, and we can’t wait for the exciting future ahead to unfold.”
Following the completion of the Proposed Regularisation Plan, Capital A will be in a stronger position to execute its long-term vision. The company remains committed to growing its six core businesses—Asia Digital Engineering (ADE), Teleport (Logistics), AirAsia MOVE, Santan, BigPay and Abc. International. This milestone reflects Capital A’s transformation from a financially distressed company into a group with agile, technology-driven businesses that are ready to capitalise on new opportunities in aviation, engineering, logistics, digital travel, and brand management.
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