Capital A Berhad has submitted its Proposed Regularisation Plan to Bursa Malaysia Securities Berhad on December 23rd.
This initiative marks a pivotal moment in Capital A’s path toward exiting its PN17 status, which has been an ongoing challenge.
The CEO, Tony Fernandes, expressed enthusiasm about this significant step, stating: “We are beyond thrilled to take this momentous step towards uplifting our PN17 status and paving the way for a brighter future. The regularisation plan, which includes a capital reduction of up to RM6 billion, is designed to strengthen our balance sheet by eliminating the losses incurred during the Covid pandemic, and reflect the true value of our underlying assets in Capital A.”
Fernandes emphasized the rarity of companies successfully exiting PN17, noting the challenges posed by the pandemic, and added, “What makes this milestone even more remarkable is that we have reached it while navigating the unprecedented challenges brought on by Covid.”
Next Steps:
Following the plan’s submission to Bursa Malaysia, the Group is focused on several steps to achieve its goals:

1. Approval from Bursa Malaysia
2. An Extraordinary General Meeting for shareholder endorsement
3. Approval from the High Court of Malaya
4. Completion of the steps will enable the Group to exit PN17 status, concluding its financial regularization efforts.
   Capital A is committed to regulatory compliance and will work towards minimizing risks related to market competition and operational disruptions.