Malaysia-based Capital A Berhad has reached a major milestone in its financial transformation journey with the approval of its proposed regularization plan by Bursa Malaysia Securities Berhad.
The firm said in a statement that 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 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 finalize the implementation of its plan, including capital reduction to set off accumulated losses and the reorganization of its business units to unlock long-term value for shareholders.
“ 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,” said Tony Fernandes, Chief Executive Officer of Capital A.
The proposed regularization plan is structured to ensure compliance with Bursa Securities’ listing requirements and includes a series of financial and structural adjustments designed to stabilize 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.
“Securing Bursa’s approval is a testament to the hard work, relentless dedication, and strategic direction of Capital A,
“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，” said Mun Hui Teh, Chief Financial Officer of Capital A and the architect of the restructuring plan.
Following the completion of the proposed regularization plan, Capital A will be in a stronger position to execute its long-term vision, said the statement.
The company said it remains committed to growing its six core businesses — Asia Digital Engineering (ADE), Teleport (Logistics), AirAsia MOVE, Santan, BigPay and Abc. International.
It said this milestone reflects Capital A’s transformation from a financially distressed company into a group with agile, technology-driven businesses that are ready to capitalize on new opportunities in aviation, engineering, logistics, digital travel, and brand management.