All resolutions passed at today’s AGM

Ernst & Young gives clean audit report

SEPANG, 16 June 2022 – Capital A Berhad (“Capital A” or the “Group”) held its Fifth Annual General Meeting (“AGM”) today, where all resolutions presented to shareholders were passed.

Capital A received a clean audit report by Auditors Ernst & Young, which was tabled at the AGM and received by the shareholders, denoting confidence in Capital A’s ability to continue business for the future.

Today’s support for the Group’s strategy and business plan from shareholders during the AGM paves the way for Capital A to move forward with its strategic growth plans. 

Capital A CEO Tony Fernandes said: “The clean audit report is a key step forward to expedite removal of PN17 status which we are confident of exiting in the coming months. The PN17 regularisation plans are on track, which the management team is developing, taking into consideration multiple solutions without proposals for capital dilution or equity raising. We are confident of meeting the deadline to submit the plan to Bursa Malaysia by early January 2023.”

Citing strong air travel demand and plans to recover to pre-Covid capacity, he added, “Our airlines have strategic plans in place to paint the skies red once again with a leaner and more robust model for a successful and viable operation for the future.” 

He went on to say, “On the digital side, we will continue to forge ahead with our ambitions to become the leading super app of choice in Asean, Teleport to be the leading logistics provider with the best and fastest coverage and BigPay to be the  neobank that provides the best value across our suite of financial products. We strive to be the preferred choice for customers in delivering the best value and high quality at the lowest cost for everyone.”

Elaborating on plans to list AirAsia or digital businesses in the US, Fernandes said, “The Group is evaluating all fundraising options, including private placement, direct listing or listing via a merger with a SPAC (Special Purpose Acquisition Company)”, adding that “listing in the US market would be attractive given the liquidity and the diverse investor reach that it can provide.”