KUALA LUMPUR: Capital A Bhd
is eyeing to exit its Practice Note 17 (PN17) status after achieving four consecutive quarters of profitability, said its chief executive officer Tan Sri Tony Fernandes.
He said the group expects to submit its audited financial statements by April 10, 2026 as part of the regularisation process.
"We are on the basis of four quarters of profit. I am sure the regulators would like to see the accounts audited, and we believe we will have our audited accounts by April 10,” he told a press conference today.
Tony added that Capital A will also submit its first-quarter management accounts to support its application to exit PN17.
On Jan 23, Capital A has officially completed its PN17 regularisation plan following the lodgement of a sealed High Court order confirming a capital reduction of RM5.51 billion.
Meanwhile, he said the group is exploring listing plans for its subsidiaries, with its intellectual property (IP) management subsidiary AirAsia Next being a key focus.
"We believe the American market will understand this business well, and we hope to list AirAsia Next in the United States before year-end. A lot of work has already been done, and the board has approved moving to the next stage,” he said.
In addition, Capital A is considering a potential dual listing in Hong Kong, following interest from the Hong Kong stock exchange.
He said the move is driven by strong investor appetite from global markets, particularly as capital from China, the United States and Europe increasingly looks towards the ASEAN sector.
"The Hong Kong stock market approached us as it sees Capital A as one of the strong companies in ASEAN that it would like to list there. The board has approved this, and we have appointed bankers to proceed with the necessary work,” he said.
Tony noted that the dual listing exercise could take place as early as July or August this year. - Bernama
