Capital A exits PN17 after four-year restructuring journey

KUALA LUMPUR, May 20 — Capital A Bhd will officially exit Practice Note 17 (PN17) status effective May 20, marking the end of more than four years under Bursa Malaysia’s financially distressed classification following the successful completion of its regularisation plan.

The upliftment follows Bursa Securities’ approval of the group’s early exit application. A key component of the restructuring involved disposing of its aviation business to AirAsia X Bhd, which is set to be renamed AirAsia Group Bhd. The plan, announced in April 2024, also included a capital reduction and distribution of AirAsia X shares.

Capital A

Capital A completed the regularisation exercise in January this year. Following the airline disposal, the group’s remaining businesses include Asia Digital Engineering (ADE), Teleport, AirAsia Move, Santan and AirAsia Next.

Capital A was classified under PN17 in January 2022 after the Covid-19 pandemic severely impacted global air travel.

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