In response to the insufficient research on principal competencies in turnaround schools, this study aims to explore the components of principal’ competencies in the Malaysian context. Using semi-structured qualitative interviews with 14 interviewees with diverse demographic information, this study identifies four main themes related to principal’ competencies in Malaysian turnaround schools and 13 sub-themes within these four main themes. These 13 sub-themes have some fulsome differences from Leithwood’s turnaround leadership framework. This study provides the theoretical grounding for future research on principal competency in ASEAN countries in particular and in other countries at large and offers practical implications to educational practitioners in transforming turnaround schools in their respective countries.