(Kuala Lumpur, 10) Although 1Bito Group $CAPITALA (5099.MY)$ is expected to soon be removed from the PN17 list, the group has no intention of resuming dividends in the next three to four years.
The CEO of 1Bito Group, Tan Sri Tony Fernandes, pointed out at today's press conference that the group's goal is to officially be removed from the PN17 list in May this year, but it is likely that the group will not resume dividends in the coming years.
"My primary focus for 1Bito Group is growth, any cash we generate will be used for reinvestment."
Resolve debt and pay dividends.
Tony stated that the fund needs at least 3 to 4 years to reconsider paying dividends.
We also need to reduce the debt accumulated during the pandemic. After we solve the debt issue, we will consider paying dividends, and that should take about 3 to 4 years to complete.
According to a statement from the Malaysian Exchange, the last time the fund announced dividends was in July 2019, when it distributed a special dividend of 90 cents per share, and at that time, the group had not yet changed its name, still referred to as 'AirAsia Group'.
Expected to exit PN17 in May.
After receiving approval from the Malaysian Exchange for its restructuring plan last Friday (7th), Tony believes that the day the Yibit Investment Group officially exits the PN17 list will be in May this year.
I hope that the Yibit Investment Group can exit the PN17 list on April 30, which is my birthday, but this is probably not very likely; it may take a few more weeks by then...

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