Shareholders overwhelmingly approved the sale of aviation business, allowing One B Investment to exit PN17 by the end of the year.
(Kuala Lumpur, 14th) Futubull Group $CAPITALA (5099.MY)$Announced at today's extraordinary shareholders meeting, shareholders voted to approve the sale of the group's aviation business to AirAsia X. $AAX (5238.MY)$
According to the statement, the group's CEO Tan Sri Tony Fernandes expressed that with the approval of the sale, the group will set a clearer direction for future development by dividing core aviation business and support services.
"A clear positioning will not only benefit shareholders and customers, but also enable us to better define the future of travel."
He added that Futubull Group currently has four major businesses: Capital A Airline Services (CAAS) that provides support services for AirAsia, Teleport which focuses on logistics, MOVE Digital involved in digital technology, and Brand AA Company managing the "AirAsia" brand.
AirAsia Group takes over the listing status.
"Dividing aviation and non-aviation businesses allows us to focus more on the development of each respective area. After the integration of the aviation business, efficiency, profitability, and shareholder returns will be enhanced through synergies between short-haul and long-haul operations."
Fernandes also emphasized that with the approval of shareholders this time, the group will have a clearer balance sheet to complete the restructuring plan and successfully exit PN17 by the end of the year.
The group will apply to the court next to distribute profits to shareholders by cutting assets.

Capital A Bhd has positive equity and is optimistic about exiting its Practice Note 17 (PN17) status by the end of December this year, according to its chief executive officer, Tan Sri Tony Fernandes
$CAPITALA (5099.MY)$ Pls ready enough bullet, once exit its would catapult to the moon

$CAPITALA (5099.MY)$ Is there a result?

$CAPITALA (5099.MY)$ The 14th is beneficial, definitely flying high.

$CAPITALA (5099.MY)$ After selling 0.895 of C A, the rise in oil prices is unfavorable for the aviation industry. I believe Israel will strike Iran. They are currently fighting Hezbollah, and the next target will definitely be Iran. If Iran bombs the oil fields, the oil prices will rise even higher. Wait for the price to fall back to the ideal position before entering the market.

$CAPITALA (5099.MY)$
wow.. really wow.. seeing down fast once market open and now slowly climb back [Thumbs Up]