Capital A Bhd and its appointed advisers said the group is formulating a regularisation plan to address its financial condition.
“The company will issue the necessary announcements regarding the development of the proposed regularisation plan accordingly,” the Practice Note 17 (PN17) — classified group said in a filing with Bursa Malaysia on Thursday (May 2).
On January 19, Bursa Malaysia Securities Bhd granted the group an extension until June 30, 2024, to submit its regularisation plan.
Consequently, Capital A said it has approximately two months remaining to submit its regularisation plan for approval to the relevant regulatory authorities.
Capital A was listed under Bursa’s PN17 category of financially distressed entities in January 2022.
