Latest news with #CapitalA
New Straits Times
14-07-2025
- Business
- New Straits Times
KTMB powers ahead: Rail giant ink deals with Capital A, Mastercard
KUALA LUMPUR: Keretapi Tanah Melayu Berhad (KTMB) is ramping up its digital transformation with decisive moves set to redefine Malaysia's rail sector and position the national operator as a mobility-as-a-service (MaaS) leader in Asean. The rail giant has signed two memoranda of understanding (MoUs) with Capital A Bhd and Mastercard – strategic partnerships designed to accelerate digital integration, enable secure, cashless payments, and unlock greater value for passengers. Under its tie-up with Capital A, KTMB will integrate rail and air travel under a single digital ecosystem via its fly rail platform. The initiative will first connect KTMB's rail services with Senai Airport in Johor before expanding to domestic and cross-border routes, creating a smoother door-to-door travel experience. The collaboration will also link KTMB's rail rewards loyalty programme with AirAsia Rewards. This paves the way for passengers to earn and redeem points seamlessly across rail and air travel – a strategic step towards smarter, more rewarding journeys. KTMB's pact with Mastercard will fortify its payment infrastructure, enhancing the security, speed and convenience of digital transactions across its 1,655 km railway network, which covers 84 stations and 68 stops throughout Peninsular Malaysia. The national operator's services include ETS, KTM Intercity, KTM Komuter and KTM Kargo freight services. Taking its digital drive a step further, KTMB has launched KITS Style, Malaysia's first digital lifestyle app by a rail operator, a milestone that sets a new regional benchmark for MaaS innovation. Passengers can now plan journeys, book rail, flights, hotels, attractions and car rentals, and manage insurance, utility bills, money transfers, mobile top-ups and exclusive lifestyle offers – all from a single app. A key game-changer is the launch of the KITS Style Prepaid Mastercard, Asean's first open-loop prepaid transit card introduced by a rail operator. This open-loop transit card is a first for Malaysia and Asean, made possible through strong collaboration between KTMB, MPay, and Mastercard, said Transport Minister Anthony Loke Siew Fook. "This partnership between KTMB and Capital A unites two transportation giants, promising a significantly enhanced experience for all users. Together, we are shaping a more digital, connected, and sustainable future for public transport," he said in a statement. Beena Pothen, Mastercard's country manager for Malaysia and Brunei, added that the partnership aims to make the daily commute "simpler, faster and more secure", raising the bar for digital payment standards in Malaysia's transport sector. KTMB's aggressive push into digitalisation is set to strengthen its value proposition for its 4.6 million existing app users and attract new customers seeking convenience, flexibility and integrated lifestyle solutions on one seamless platform.
The Star
09-07-2025
- Business
- The Star
AirAsia talks with investors near conclusion, says deputy CEO
SINGAPORE: Budget airline AirAsia is nearing the conclusion of talks with potential strategic investors as the Malaysia-based airline approaches the end of its restructuring process, Deputy Group CEO Farouk Kamal said on Wednesday. The airline, whose parent company Capital A was classified as financially distressed by Malaysia's stock exchange in 2022, is arranging a RM1bil equity injection alongside financing for its extensive order book of new planes, Kamal said, speaking on a panel at the Reuters NEXT Asia summit. Capital A Group CEO Tan Sri Tony Fernandes said in March that the RM1bil private placement was "done", but has not disclosed the identity of the investors. He declined to comment on a Bloomberg report in March that Saudi Arabia's sovereign wealth fund was set to invest $100 million. Kamal said AirAsia was coming to the final conclusion of talks with investors "not just from an equity injection perspective, but from an overall transactions perspective", and hopes to make an announcement in "due course". AirAsia, one of Asia's largest low-cost carriers and one of Airbus' largest customers, has around 360 planes on order. On Friday, AirAsia signed a memorandum of understanding with Airbus to buy 50 long-range A321XLR planes with conversion rights for another 20 of the single-aisle jets. Fernandes said last week he hoped to exit the financially distressed status soon, once restructuring efforts are complete. As part of this, Capital A is in the process of selling its AirAsia aviation business to long-haul unit AirAsia X to consolidate long- and short-haul operations under a single AirAsia brand. - Reuters
New Straits Times
09-07-2025
- Business
- New Straits Times
AirAsia talks with investors near conclusion, says deputy CEO
SINGAPORE: Budget airline AirAsia is nearing the conclusion of talks with potential strategic investors as the Malaysia-based airline approaches the end of its restructuring process, deputy group chief executive officer (CEO) Farouk Kamal said on Wednesday. The airline, whose parent company Capital A was classified as financially distressed by Malaysia's stock exchange in 2022, is arranging a RM1 billion (US$235 million) equity injection alongside financing for its extensive order book of new planes, Kamal said, speaking on a panel at the Reuters NEXT Asia summit. Capital A Group CEO Tony Fernandes said in March that the 1 billion ringgit private placement was "done", but has not disclosed the identity of the investors. He declined to comment on a Bloomberg report in March that Saudi Arabia's sovereign wealth fund was set to invest US$100 million. Kamal said AirAsia was coming to the final conclusion of talks with investors "not just from an equity injection perspective, but from an overall transactions perspective", and hopes to make an announcement in "due course". AirAsia, one of Asia's largest low-cost carriers and one of Airbus' largest customers, has around 360 planes on order. On Friday, AirAsia signed a memorandum of understanding with Airbus to buy 50 long-range A321XLR planes with conversion rights for another 20 of the single-aisle jets. Fernandes said last week he hoped to exit the financially distressed status soon, once restructuring efforts are complete. As part of this, Capital A is in the process of selling its AirAsia aviation business to long-haul unit AirAsia X to consolidate long- and short-haul operations under a single AirAsia brand.
Malay Mail
09-07-2025
- Business
- Malay Mail
AirAsia's investor talks take flight as restructuring nears endgame
SINGAPORE, July 9 — Budget airline AirAsia is nearing the conclusion of talks with potential strategic investors as the Malaysia-based airline approaches the end of its restructuring process, Deputy Group CEO Farouk Kamal said today. The airline, whose parent company Capital A was classified as financially distressed by Malaysia's stock exchange in 2022, is arranging a RM1 billion equity injection alongside financing for its extensive order book of new planes, Kamal said, speaking on a panel at the Reuters NEXT Asia summit. Capital A Group CEO Tan Sri Tony Fernandes said in March that the RM1 billion private placement was 'done', but has not disclosed the identity of the investors. He declined to comment on a Bloomberg report in March that Saudi Arabia's sovereign wealth fund was set to invest US$100 million (RM425.3 million). Kamal said AirAsia was coming to the final conclusion of talks with investors 'not just from an equity injection perspective, but from an overall transactions perspective', and hopes to make an announcement in 'due course'. AirAsia, one of Asia's largest low-cost carriers and one of Airbus' largest customers, has around 360 planes on order. On Friday, AirAsia signed a memorandum of understanding with Airbus to buy 50 long-range A321XLR planes with conversion rights for another 20 of the single-aisle jets. Fernandes said last week he hoped to exit the financially distressed status soon, once restructuring efforts are complete. As part of this, Capital A is in the process of selling its AirAsia aviation business to long-haul unit AirAsia X to consolidate long- and short-haul operations under a single AirAsia brand. — Reuters
Business Times
09-07-2025
- Business
- Business Times
AirAsia talks with investors near conclusion, says deputy CEO
[SINGAPORE] Budget airline AirAsia is nearing the conclusion of talks with potential strategic investors as the Malaysia-based airline approaches the end of its restructuring process, deputy Group CEO Farouk Kamal said on Wednesday (Jul 9). The airline, whose parent company Capital A was classified as financially distressed by Malaysia's stock exchange in 2022, is arranging a RM1 billion (S$301 million) equity injection alongside financing for its extensive order book of new planes, Kamal said, speaking on a panel at the Reuters NEXT Asia summit. Capital A Group CEO Tony Fernandes said in March that the RM1 billion private placement was 'done', but has not disclosed the identity of the investors. He declined to comment on a Bloomberg report in March that Saudi Arabia's sovereign wealth fund was set to invest US$100 million. Kamal said AirAsia was coming to the final conclusion of talks with investors 'not just from an equity injection perspective, but from an overall transactions perspective', and hopes to make an announcement in 'due course'. AirAsia, one of Asia's largest low-cost carriers and one of Airbus' largest customers, has around 360 planes on order. On Friday, AirAsia signed a memorandum of understanding with Airbus to buy 50 long-range A321XLR planes with conversion rights for another 20 of the single-aisle jets. Fernandes said last week he hoped to exit the financially distressed status soon, once restructuring efforts are complete. As part of this, Capital A is in the process of selling its AirAsia aviation business to long-haul unit AirAsia X to consolidate long- and short-haul operations under a single AirAsia brand. REUTERS
