Capital A Berhad to Publish Business Targets as It Seeks PN17 Exit

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  Posted by John Deo Feb 24 - Filed in General - #financialmodelingprep  - 22 views
  

  Capital A Berhad (KL:CAPITALA), the parent company of AirAsia, announced plans to publish internal business targets alongside quarterly results starting this Wednesday. The move aims to increase investor confidence and improve transparency as the company works to exit Malaysia’s financially distressed "PN17" classification.

  Key Highlights:

  • Transparency Initiative: Capital A will disclose business targets alongside financial results to give investors a clearer outlook.
  • PN17 Exit Strategy: The company is making "significant progress" toward financial stability and aims to exit PN17 status soon.
  • AirAsia X Merger: The firm is in the process of selling its aviation business to AirAsia X Bhd to consolidate long- and short-haul operations under the AirAsia brand.
  • Transaction Deadline Extended: The AirAsia X sale deadline was extended to March 24, 2024, with all necessary approvals expected by February’s end.

  Financial Outlook and Investor Confidence

  Capital A was severely impacted by pandemic travel restrictions, but CEO Tony Fernandes stated that "most uncertainties are now behind us," making this a strategic time for improved financial disclosures.

  Investors tracking Capital A’s financial recovery can analyze its key metrics, including:

  • Balance Sheet Data for liquidity insights.
  • Full Financials API to assess the company’s financial health.

  With AirAsia X already removed from PN17 status in November 2023, the upcoming months will be critical for Capital A’s restructuring efforts.