Capital A Bhd will hold an extraordinary general meeting on Oct 14, where the proposed disposal of its aviation business to sister company AirAsia X Bhd will be tabled for shareholders’ approval.
CEO Tan Sri Tony Fernandes said the pro forma effects of the proposed disposal based on the financial statement as of Dec 31, 2023, as included in the circular to shareholders dated Sept 20, 2024, shows that Capital A shareholders’ equity will turn to positive of RM649 million from a negative of RM8.8 billion.
These critical steps will enable Capital A to achieve a clean balance sheet and focus on submitting its regularisation plan soon, with the aim of exiting Practice Note 17 status, it added.
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