Capital A launches restructuring to sell BigPay and redistribute Tune Protect stake

Capital A Bhd filed a proposal with Bursa Malaysia to optimise its capital structure by disposing of its near-total ownership of BigPay Pte Ltd and by orderly distributing its 13.6% equity in Tune Protect Group Bhd. The actions will be executed by subsidiary Move Digital Sdn Bhd under a court-supervised framework, with applications lodged in the Commercial Division of the High Court of Malaya. The restructuring targets three pillars: a market-driven sale of the BigPay stake, a systematic allocation of the Tune Protect shares to creditors, and the recovery of receivables estimated at RM32.2 million.

All proceeds are slated for repayment to Capital A and its affiliates. Move Digital is described as a holding vehicle for legacy assets and does not run any operating business, while AirAsia Move, the group’s digital travel platform, continues its operations unchanged. CEO Tan Sri Tony Fernandes said the move is aimed at strengthening the balance sheet and focusing capital on higher-growth businesses.