Arbitration Singapore

Singapore Court Orders Seizure of Capital A's BigPay and Teleport Stakes Over Arbitration Award

Published 2026-06-13 1 source Arbitration Award Enforcement Shareholder Disputes Siac Singapore Singapore

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TL;DR

  • Singapore High Court ordered seizure of Capital A's stakes in BigPay and Teleport.
  • Seizure enforces a partial arbitration award worth US$14.736 million.
  • Dispute arose from alleged shareholder agreement breaches after a 2017 investment pact termination.
  • Move Digital plans to contest the enforcement action.

Overview

The Singapore High Court has ordered the seizure of Capital A Bhd's stakes in BigPay and Teleport to enforce a partial arbitration award. The award followed a Singapore International Arbitration Centre (SIAC) proceeding initiated by former minority shareholders Christopher Davison and Navin Rajagopalan against AirAsia Digital (now Move Digital), AirAsia Bhd, and BigPay Pte Ltd, relating to the termination of a 2017 investment agreement.

What Happened

On June 10, 2026, the Singapore High Court issued an order allowing the seizure of Capital A's stakes in its subsidiaries BigPay (99.56%) and Teleport (11.45%).

The enforcement targets a partial arbitration award requiring Capital A's Move Digital Sdn Bhd to buy out the minority interests of BigPay's founders for US$14.736 million.

The seizure notice covers 204,809,509 shares in BigPay and 481,730 shares in Teleport, and also seeks recovery of unpaid interest tied to enforcement cost orders.

Capital A stated that Move Digital intends to file an objection to the court-ordered enforcement.

Context

The dispute began in 2021 when minority shareholders Davison and Rajagopalan initiated arbitration under SIAC rules following the alleged breach of shareholder agreements after the termination of a 2017 investment pact.

The claimants initially sought a buyout valuation between US$140 million and US$183 million, but the SIAC tribunal awarded US$14.736 million in December 2024.

Teleport remains Capital A's largest revenue contributor, and BigPay is part of its digital portfolio.

Why It Matters

  • The enforcement demonstrates the willingness of Singaporean courts to uphold and facilitate the enforcement of SIAC arbitration awards.
  • The order affects Capital A's strategic digital and logistics subsidiaries, potentially impacting its business and financial portfolio.
  • The case highlights the risk of enforcement action following breaches of shareholder agreements in cross-border investments.

Sources

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