Capital A’s Move Digital restructuring can pave way for BigPay exit

By the Editorial Team · Tuesday, September 22, 2026

Capital A Bhd has proposed a court-supervised restructuring of its subsidiary Move Digital Sdn Bhd to facilitate the sale of its fintech business BigPay and monetize other assets over the next three years. This plan aims to generate funds to settle creditor obligations and reduce ongoing losses from its financial technology investments.

Capital A Bhd’s proposed restructuring of its subsidiary Move Digital Sdn Bhd (MDSB) may facilitate an eventual exit from the financial technology business BigPay, while allowing the group up to three years to monetize its remaining legacy investments.

Move Digital holds a 99.56% stake in BigPay Pte Ltd and a 13.6% stake in Tune Protect Group Bhd. The company has submitted a plan for a court-supervised scheme aimed at monetizing these assets, with the proceeds intended to settle outstanding creditor obligations.

According to a report by MBSB Research, the restructuring is viewed positively, particularly the potential divestment of BigPay. The research firm noted that the business continues to require funding support, making a disposal a favorable outcome. The proposed three-year timeframe is seen as allowing for an orderly sale of MDSB’s assets.

Despite this, MBSB has maintained Capital A’s earnings estimates unchanged for the time being, citing uncertainty over the precise timing and terms of the potential disposals. The firm also retained its sum-of-the-parts derived target price of RM0.53.

Under the restructuring plan, MDSB would seek to generate funds through a combination of asset sales—including potentially BigPay and its Tune Protect stake—and the collection of approximately RM32 million in receivables. These proceeds would be allocated toward settling the company’s creditors.

As of the end of the financial year 2025, MDSB reported net liabilities of RM292 million. BigPay’s financial performance is no longer separately disclosed following its consolidation into AirAsia Next’s reporting starting from the fourth quarter of FY25.

The restructuring represents a strategic move by Capital A to address ongoing losses in its fintech business and streamline its investment portfolio.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.