GTA Holdings Puts West Asia Expansion Plans On Hold, Exploring Other Opportunities
KUALA LUMPUR, Aug 19 (Bernama) -- Aircraft engine maintenance, repair and overhaul (MRO) services provider GTA Holdings Bhd (GTA) has put its expansion plans in West Asia on hold amid ongoing tensions in the region.
Managing director and chief executive officer Datuk Nonee Ashirin Mohd Radzi said the company was closely monitoring the situation in the region and would wait for the right time to enter the market.
“We have identified areas that we can actually collaborate on (and) gone quite extensively in the discussion. However, we have put that on hold for the moment.
“We are looking at the current security situation (in West Asia), and we are engaging with local parties and trying to understand when is a good time to go back there,” she told a press conference after GTA’s prospectus launch here today.
GTA, which is scheduled for a listing on Bursa Malaysia’s ACE Market on Sept 8, 2026, aims to raise RM71.75 million from its initial public offering (IPO).
According to its prospectus, RM10 million of the gross proceeds will go towards expanding helicopter MRO facilities in West Asia through joint-venture arrangements.
Nonee Ashirin said the company is exploring other expansion opportunities, particularly in regional markets closer to Malaysia.
“We are now handling (MRO) in Brunei as an additional territory, and in a couple of days, I think there will be further announcement about Brunei.
“What is important is our investors’ confidence. So we're looking somewhere closer, but it does not stop our plan to geographical expansion. It's just a matter of time that we get ourselves back to (West Asia),” she said.
Meanwhile, she said, GTA is targeting to move into its new RM38.93 million facility in Bukit Jelutong, Shah Alam, by the end of December.
“In addition, we also plan to start our landing gear systems (MRO) as early as the first quarter of 2027. The wheels and brakes component will provide additional new business revenue streams,” she added.
Based on its prospectus, the company has earmarked RM5.90 million of its IPO proceeds for the expansion into MRO of aircraft landing gear systems within 24 months of its listing.
The IPO comprises an issuance of 329 million ordinary shares in GTA, comprising a public issue of 205 million new shares and an offer for sale of 124 million existing shares at an IPO price of 35 sen per share.
-- BERNAMA