KUALA LUMPUR – Bursa Malaysia Securities Bhd has granted Capital A Bhd an extension until December 31 to submit its regularisation plan to the regulatory authorities.
With the extension, Bursa clarified that it is still without prejudice to its right to suspend the Practice Note 17/2005 (PN17)-listed company’s trading of listed securities and to delist it.
Bursa said that the suspension is based on several circumstances, which include Capital A failing to submit, obtain approval, and implement its regularisation plan before the aforementioned deadline.
“Upon the occurrence of any of the events set out above, Bursa shall suspend the trading of the listed securities of the Company (Capital A) on the 6th market day after the date of notification of suspension by Bursa,” it said.
Bursa added that its decision to delist the company upon failure to meet the deadline will be subject to the latter’s right to appeal against the delisting.
On October 6, Capital A applied for an extension for the company to submit its regularisation plan to Bursa’s regulatory authorities.
Bursa had previously granted the company an extension of three months for the company to submit its plan, where the deadline was scheduled to be on October 7.
Recently, Capital A chief executive officer Tan Sri Tony Fernandes sparked ire after taking a jibe at customers who “moaned about a refund” in a social media post.
Some of his customers described the post’s caption as arrogant, seeing that the carrier has been repeatedly criticised over its refund policies. – November 1, 2023