SINGAPORE, June 10 — The Singapore High Court has issued an order to seize Capital A Bhd’s stakes in BigPay and Teleport, in a move to enforce a partial arbitration award, according to The Edge.
According to the report, Sheriff of the Supreme Court of Singapore issued a notice of seizure involving Capital A’s wholly-owned subsidiary Move Digital Sdn Bhd’s 99.56 per cent stake in BigPay Pte Ltd and an 11.45 per cent stake in Teleport Everywhere Pte Ltd.
The enforcement action is to compel Move Digital to comply with a partial arbitration award requiring it to buy out BigPay co-founders Christopher Davison and Navin Rajagopalan’s minority interests in BigPay for US$14.736 million (RM59.85 million), the report said.
The seizure notice covers 204,809,509 shares in BigPay and 481,730 shares in Teleport, according to the Singapore court filing cited by The Edge.
The action also relates to the recovery of unpaid interest tied to cost orders arising from enforcement proceedings in Singapore.
The dispute traces back to 2021 when the two minority shareholders initiated arbitration under the Singapore International Arbitration Centre rules against AirAsia Digital (now Move Digital), AirAsia Bhd and BigPay over alleged breaches of shareholder agreements following the termination of a 2017 investment pact.
The founders had previously sought a buyout of between US$140 million and US$183 million, but a December 2024 arbitration tribunal ordered a significantly lower valuation of US$14.736 million, the report said.
Capital A said Move Digital plans to file a written objection to the enforcement action, adding that it believes it has valid grounds to challenge the seizure.
Teleport remains Capital A’s largest revenue contributor, accounting for about 40 per cent of group revenue in the first quarter ended March 31, 2026, while BigPay continues to be part of its digital financial services portfolio, the report said.
Capital A shares rose one sen, or 2.5 per cent, to 41.5 sen yesterday, giving the group a market capitalisation of RM1.86 billion, according to Bursa Malaysia data cited in the report.
Date: 10 June, 2026 11:00 am
Source: Malay Mail
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