Capital A Subsidiary Faces Asset Seizure in BigPay Shareholder Dispute

Capital A Berhad has disclosed that its wholly owned subsidiary, Move Digital Sdn Bhd, has received a notice of seizure or attachment from the Sheriff of the Supreme Court of Singapore as part of ongoing enforcement proceedings related to a shareholder dispute involving fintech company BigPay.

The notice, dated June 9, 2026, stems from a Singapore International Arbitration Centre (SIAC) case brought by Christopher Davison and Navin Rajagopalan against Move Digital, AirAsia Berhad, and BigPay. The dispute concerns shareholder matters involving BigPay.

Under the enforcement action, Singapore authorities may seize two assets held by Move Digital: a 11.45% stake in Teleport Everywhere Pte. Ltd., comprising 481,730 shares, and a 99.56% stake in BigPay, comprising 204.8 million shares.

The seizure is intended to enforce an earlier arbitration award requiring Move Digital to purchase the claimants’ shares in BigPay for US$14.7 million, as well as recover accrued interest of S$541.20 related to certain cost orders in the Singapore proceedings. Capital A noted that the principal amounts of those cost orders have already been paid.

Move Digital said it believes it has valid grounds to challenge the seizure and sale of the assets and intends to file a formal objection with the Singapore court authorities.

The latest development is linked to litigation previously disclosed by Capital A in its annual reports, financial statements, and shareholder communications over the past several years.