Asia
Capital A Unit Receives Asset Seizure Order from Singapore Court Over BigPay Dispute; Shares Drop 5%
Capital A (KLSE:CAPITALA) unit Move Digital has received a seizure notice from the Singapore court sheriff as part of the enforcement of an arbitration award linked to a BigPay shareholder dispute, according to a Tuesday Malaysian bourse filing.Shares dropped about 5% in Wednesday's afternoon trade.The order involves the recovery of $14.7 million in buyout amount, plus minor unpaid legal cost interest.Under the notice, shares held by Move Digital in Teleport Everywhere and BigPay are subject to seizure.The company plans to challenge the action, stating it has grounds to object to the enforcement.
KLSE:CAPITALA
